Who We Are
The significant impact COVID-19 had on small businesses was disruptive, it highlighted the financial fragility and limited reach of small businesses that were not prepared to pivot to a new normal of selling their products and services exclusively online. Research uncovered the themes that emerged overtime such as massive layoffs, closures and the inability for many businesses to sustain themselves and wither through the pandemic storm. According to PNAS The median business with more than $10,000 in monthly expenses had only about 2 weeks of cash flow at the time. This revealed a major need for a resource that could bridge the gap between the business owners that were facing hardships and the ready-to-buy customers that were looking for their product or service. Can you take a guess at what demographic of businesses that were hit the HARDEST?
You hit it on the nail. Yes. Black Businesses. Research at The University of California, Santa Cruz and a report by the National Bureau of Economic Research found that 41 percent of black owned businesses-- 440,000 have been shut down by COVID-19 in comparison to 17 percent of white-owned businesses. This alarming reality prompted the Influencers Lab Media Founders, a black owned marketing and promotion company-- to set out and change the narrative. Spending Black Matters was developed in the thick of the pandemic to provide a proven and trusted resource for black entrepreneurs to get their products in the hands of consumers that wanted to buy black and spend their money with a trusted and valued community. Since launching the private facebook market group, numbers of membership have grown exponentially to over 30,000 users worldwide that spent thousands to millions since the groups emergence. Spending Black Matters focuses on the direct turnaround of alarming statistics, socio-economic fears and overall stereotypes that plague the words BLACK and BLACK OWNED BUSINESS by redefining and affirming the importance and value of a black owned ecosystem in America. Spending Black Matters Brand is on a mission to empower and extend a black owned marketplace and ecosystem for Black CEOs to sell their products, make profit, recycle their dollars and connect to trusted resources and business building services that will assist in exponentially growing their companies. While emerging as a newcomer in the industry it is apparent that Spending Black Matter is the only way to shop and share. You can bet your black dollar on that.
We empower and extend a black owned marketplace and ecosystem for black CEOs to sell their products, make profit, recycle their dollars and connect to trusted resources and business building services that will assist in exponentially growing their companies.
We stand on the shoulders of black business leaders that have come before us and we lead forward with a true to heart vision dedicated to the advancement, equity, and economic independence for people of color.
Our ecosystem was built to withhold the community that relies on our marketplace to share information, resources, services and products worldwide. We hold every team member, community member, seller, and consumer accountable to their word. Our team takes the time to vet the identity and validity of those that share this platform.
Our most important goal was to create direct access and dialogue between businesses and consumers. We cut out the hassle it takes to search online to find a trusted and certified resource or service.