Thanks, Lipstick Alley!!!) For additional info, hit up the Black-Owned Beauty Supply Association (BOBSA).
Black Americans handle vast sums of money, but somehow we have been taught to see our-selves as poor people. We are not poor–we just handle money poorly. Out of every dollar we spend, 95 cents is spent outside of our community and only 5 cents of every dollar within our own community….
If, we are in control of our money, we have only ourselves to blame for giving our economic power away. Many of us do not realize how much damage we cause when we choose to spend our money elsewhere. Likewise, we do not realize how economically empowering it can be to spend our money in the community.
Consider that other communities are thriving because they understand this principle. If we continue to choose “lazy economics” instead of “industrious economics” we will succumb to the pressures of the open market. Agressively, capitalizing on economic opportunities and not ALLOWING them to diminish, we improve our communities instantly!”