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What is the Black Economic Revolution? | w/ Seren Sensei

YouTuber Seren Sensei only shops at black-owned businesses. Along with Brut, she visited black-owned Spice Suite to talk about the growing black economic revolution. 💰

Supporting black-owned businesses is key to spark change

In 1863, the black community owned a total of 0.5% of the total wealth in the US. More than 150 years later, that number has barely budged - Blacks still only own less than 2% of the wealth in the country. Inspired by Black Power’s rhetoric of economic self-determination and reignited by the Black Lives Matter movement, the movement to #BuyBlack and divest from businesses that contribute to racial inequality has been picking up steam. In 2015, Youtuber and activist Seren Sensei began only buying from black-owned businesses.

Through her YouTube channel, she makes a commitment to support black artists, black entrepreneurs. There are over 2.5 million black-owned businesses in the U.S., and black Americans make up 14% of the total population and wield a buying power valued at more than a trillion dollars supported by data from Nielsen metrics. Yet, only a tiny fraction of that money is spent at black-owned businesses. In 2007, black-owned businesses accounted for nearly 1/5 of all businesses in Washington, D.C. – but a recent study shows that Washington has also the most intense gentrification in the country, forcing black-owned businesses to close amid rising property taxes in as stated in NerdWallet.

The largest number of black townships after the Civil War were located in Oklahoma. Between 1865 and 1920, African Americans founded more than 50 black townships in the state. Before the Tulsa Race Massacre where the city’s black district of Greenwood was attacked by a white mob, resulting in two days of bloodshed and destruction, the area had been considered one of the most affluent African American communities in the United States for the early part of the 20th century. The movement has its critics. In 2018, researchers from the Duke University addressed what they call the myths propagated by #BuyBlack campaigns. But for activists, supporting black-owned businesses is key to spark change.

Brut.

10/19/2019 10:19 AM

22 comments

  • Adam J.
    11/07/2019 03:13

    We are

  • James J.
    10/30/2019 13:29

    Hmmm They are

  • Debra U.
    10/28/2019 02:43

    That is a racist statement. Where I live their is only one black owned business. I patronize his business and apparently many of us white people do too or else he would not still be in business.

  • Patrick M.
    10/26/2019 19:35

    It makes me sick to think that anyone would use race to make a decision on what business they will support.

  • Rose W.
    10/26/2019 16:01

    So you support segregation. I guess the democrats finally get their Jim Crowe laws and you ask for it. What happened to the dream of MLK? Guess it died.

  • Colleen P.
    10/26/2019 14:48

    i will let the lifter community of tumblr know which companites are Black owned

  • Greg S.
    10/25/2019 10:41

    The best thing to do is start segregation

  • Antoine F.
    10/23/2019 14:50

    But the Jim crow congress stopped you from doing anything about it! It's up to black people to shift from economic ignorance to unity. Until then, you are still a slave!

  • Jeanine D.
    10/23/2019 12:09

    Why cant we just shop at all small businesses why does it have to be like this.

  • Kadive W.
    10/23/2019 02:26

    Black People needs our money

  • Lewis L.
    10/23/2019 01:12

    RIGHT ON THE NAACP DON'T CALL YOU BACK SO SAD AND FAKE

  • Michelle J.
    10/22/2019 19:53

    Racist

  • Dennis A.
    10/22/2019 11:35

    The Crab_in Barrel Syndrome is deeply ingrained in Far too many Negroes! Envy, Jealousy and Hatred of seeing Black People Progress... Self_hatred is Rampant with Negroes, not Black People. There's a Distinction between the two.

  • Alesandra V.
    10/22/2019 10:42

    Awaken at a pace that fosters expansiveness in peace, joy, and understanding of Divine Spirit from within...

  • Gael V.
    10/21/2019 17:14

    Que chido

  • Patrick M.
    10/21/2019 16:15

    Dont make decisions based on race.....its racist

  • Moyna A.
    10/21/2019 15:37

    Great

  • Brut
    10/21/2019 13:38

    Check out Brut's new YouTube channel for new docs every Friday: https://www.youtube.com/watch?v=tYGWa82a8TM

  • Skylair M.
    10/20/2019 17:05

  • Faith C.
    10/19/2019 18:57

    ❤️🤞🏽💪🏽