April is tax season so we are taking the time to think about the existing racial wealth gap in the US. Systemic racism has been the culprit of struggling families of color since the US’s beginning. Uplifting business owners and creatives of color is one strategy for creating a more equitable society.
As a certified Bcorp, we have a responsibility to live our values as we participate in the existing system of capitalism. Learn how we prioritize people over profit during lean financial times and utilize our financial resources within Black & Brown communities.
We can’t always predict how the economy will affect our businesses or bottom line. What we can control is how we treat our teams.
Here are a few tips on how to manage people first during lean financial times:
Being a leader is not an easy undertaking. Keeping your values top of mind will guide you in tough times.
How do you want to be remembered?
Your actions now will be your legacy. When the economy is unpredictable, be predictable in how you treat your staff.
Hay Comida en la Casa
If you’re a person of color, especially in the Brown community you’ve heard the saying “Hay Comida en la Casa,” translated to, “There is food at home.” frugality is necessary when you don’t have generational wealth to fall back on.
Building generational wealth in our communities is necessary for the equity of our people. When the dollar enters the Black community it only circulates for 6 hours and 48 hours in the Latine community.
We can’t always spend our bucks ethically, that would be impossible. Sometimes our money goes to the “Bad Place” (Am-az-on.) Use our founder’s tip for easing some of that capitalistic guilt. When Alexis spends money at a major corporate company, she matches that and donates it to an organization that supports her community.
Let’s Support Local Business
Here is a list of 18 of our favorite Black and Brown owned businesses that we support at to decrease the racial wealth gap:
- Eadem Skin Care: Black and Asian Owned
- The Lip Bar: Black-owned makeup
- The Oil Bar: Black Owned Bodycare
- Hue Noir: Black-owned Cosmetics
- Miss Jessies: Curly Hair Care
- La Perlita: Mexican-Owned Coffee Shop
- Taco Gang: Mexican owned Food Truck
- Casa Zoraya: Peruvian-Owned Restaurant
- Mis Tacones: Vegan Mexican Owned Restaurant: BONUS: Trans people eat free
- Et Fille: Woman owned Wine
- Alumbra: Women & Brown owned wine
- Parade Underwear: Latinx-owned sustainable underwear company
- We Buy Black: Online retailer of Black-owned brands: everything from laundry detergent to clothing
- Mess in a Bottle: Shirts with words
- 8&9MFG: Black-owned streetwear