The diaspora of the African American community has been on the verge of buying all black and helping out our own in the economic stream in America. Business owners in Philadelphia came together to launch a discount card to engage users in spending their money at the local Black-owned business, according to thE Philadelphia Inquirer. An iBuyBlack card only costs$10, and shoppers can collect discounts that go up to %15 at participating establishments.
African American leaders, business owners launch ‘iBuyBlack” discount card https://t.co/GdNUPB8DZ7
— Philly Inquirer (@PhillyInquirer) April 11, 2017
Around 80 companies currently participate in the program right now, and it has been getting support from all walks of life of figures in the community. Michael Rashid said to the Inquirer in a recent statement:
“Economists say the average dollar earned by Blacks stays in our community for just six hours. Compare that to the White community, in which dollars circulate for 17 days. That’s wealth-building. If we spent 9 percent of our collective dollars with Black-owned businesses, we could employ every single man, woman, and child within the Black community. Unemployment could be wiped out.”
The primary priority of the endeavor is to build wealth in the community inferred by the former president and CEO of AmeriHealth Caritas. The Inquirer also reported from the director of sales from iBuBlack.org, Earl Harvey that the organization’s goal is to recruit 500 businesses and 10,000 cardholders by the end of this year, and so far 1,500 people have subscribed.
Source: Philadelphia Inquirer