As the call continues to come for following through on support of minority-owned businesses, many are wondering how they may lend their support to black businesses. Whether through direct investment or community support, there are many ways to help black businesses grow and thrive. Interested in learning more about how to get started? Consider some of the tips listed below.
Help Gain Visibility
The easiest way to gain customers and a loyal following is by being visible. While many people may want to throw their support behind black-owned businesses, they have to become aware of them first. Help find ways to help improve their visibility, whether by providing word of mouth reviews, sharing social media posts about them, or giving them a shout-out on a blog. The more you help their name get out to the public, the greater their visibility will be.
Contribute Start-Up Capital
One of the greatest needs for many newly formed black-owned businesses is financial backing. No matter what type of industry or vertical they are in, having the capital to get started, expand, or get through rough years is essential. Be open to the fact that investing may take many forms. You may consider providing a direct financial investment if they seek one for a startup or the launch of a new product. Alternatively, you may choose to invest in them by continuing to buy their products and services.
Invite to Networking Events
One of the greatest ways to find the support you need for a business is by meeting with other industry professionals who will work with and recommend your company to others. Invite black-owned business owners to your group meeting and networking events so that they share the resources and help develop needed connections.
Look for Partnership Opportunities
Whether you're a business owner or an employee for a company, seek out partnerships with black-owned businesses on promotions or marketing campaigns. For example, if your company is sponsoring a giveaway, consider contacting a local related black-owned business to see if they have a complementary product or service to include with yours. Both companies will benefit from the resulting exposure and advertising to a shared target audience.
LPL Tracking #1-05154349