Ever feel the economic circle isn’t complete?
The key to completion? Supporting minority-owned businesses. Doing so gives a wholesome shape to the economy and builds an inclusive ecosystem.
Economic inclusivity is often interpreted as a lofty concept, a macroeconomic agenda handled by policymakers and economists. However, it's more personal, more local than that. It's about your coffee shop, your electrician, your IT company, your marketing agency, or your favorite boutique hotel.
Minority-owned businesses are often the overlooked gems that provide unique and elevated services and products that enrich our lives and our communities. They're more than just the tag of 'minority-owned'. They're unique chapters in the larger narrative of entrepreneurship that bring diversity, multiple perspectives, and innovation to the table.
Supporting these businesses is an investment, a calculated decision that yields compound returns over time. It's an investment in your community, your society, and your economy. These returns manifest as thriving local economies, job creation, and most importantly, a society where opportunities are not reserved just for the privileged.
The entrepreneurial journey is fraught with challenges, and for minority business owners, these challenges can be magnified due to systemic barriers and inequality. That's precisely where community support can come in to balance the scales. When you choose to buy your shoes from a minority-owned business or hire a female-owned electrical contractor on your next commercial development, you're doing more than checking a box or indulging in unique shoe designs. You're participating in an economic cycle that promotes sustainable growth and equality.
How can we contribute on a personal level? Start by recognizing the minority-owned businesses around you. Opt to shop from them, hire them, recommend them in your circle, and demand they be a part of a project. Promote them on social media platforms, attend their events, engage with their brand, and provide constructive feedback.
Economic inclusivity is not a topic reserved for discussion panels and policy drafts. Nor are minority-owned businesses just statistics on a city’s diversity report. It's an actionable process that begins with each one of us. Minority businesses have unique stories of perseverance, innovation, and hope. And guess what? Your support of local minority-owned businesses isn't just a nod of approval. It's a sledgehammer breaking barriers and igniting dreams. And that makes our local economies sustainably stronger.
Jennifer Sutton, Founder and Publisher