The luxury life in the Black community has been prevalent since the 1920s. Dating all the way back to Black Wall Street, African- Americans began creating generational wealth. A neighborhood in Tulsa, OK named Greenwood, was the host to the richest Black entrepreneurs in the early 1900’s. From all-Black schools to all-Black hospitals, this Black community began setting the standard for Black entrepreneurs.
When Greenwood burned down, it engulfed 35 blocks of the neighborhood, including homes and businesses. Black-owned businesses such as hospitals, churches, hotels, libraries, jewelry stores and clothing stores were all gone.
Since sustaining Black-owned businesses have been combat compared to other businesses progressions. With over two million Black-owned businesses in the U.S, 58 percent of those businesses are at financial risk, reported McKinsey and Company. With the increase of support for Black brands in 2019, the question of being Black-owned is now more prevalent than ever.
Here are four Black-owned businesses you must know.
1.The Wrap Life
The Wrap Life was founded by a black woman named Nnenna Stella. Headbands, turbans, head wraps and bandanas are the focus of this business. The different prints and cute styles of each wrap can go with any outfit. With over 10 collections to shop from, finding the perfect wrap won’t be hard.
2.Bole Road Textiles
This women-owned textile business gives options of rugs, throw pillows, curtains and more. What’s unique about this company is its authentic designs. Each design is handcrafted with a modern-day design that is irresistible.
3. EsoWon Books
History awaits to be read at this black-owned bookshop. You can find books on the BPP and other Black historical events. This bookstore also has all genres for you to choose from.
4.New Black Wall Street Market
The first Black-owned mall will be opening on Sept. 6th, 2021. This 130,000 sq. ft. mall will include a jazz club, over 15 restaurants, 150 retail stores, and an art gallery.
Black brands in every business platform from hair products to designer bags have been in the social media limelight. Black entrepreneurs are everywhere: Bakery’s, theatres, restaurants, cosmetic lines, gyms, home décor, deli’s, schools, banks, etc. In each city, there is a Black Wall Street building itself up.
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