Campaign Encourages Consumers To Spend $5 Million With Black Businesses By July 6

"My Black Receipt" initiative was launched by Kezia Williams founder of Black upStart.

With the cries for racial equality and support for the Black community reaching a fever pitch in the US, Black-owned businesses have been receiving more attention and love than ever before.

One initiative is hoping to push that momentum even further by motivating consumers to spend $5 million at Black-owned businesses by July 6 and turn it into more than a one-time purchase.

My Black Receipt, which asks people to upload their receipt from Black-owned businesses onto its website, was started by Black upStart, an organization founded by Kezia Williams that trains aspiring Black entrepreneurs on how to be successful.

Due to the coronavirus pandemic, Williams was unable to hold in-person classes, but she wanted to continue supporting her fellow Black entrepreneurs and business owners, who have been hit hardest by the pandemic.

The number of Black business owners fell by 41% between February and April -- a far higher percentage than any other racial group, according to research from Robert Fairlie, an economics professor at the University of California at Santa Cruz.

And with the estimate that the median wealth of Black Americans will drop to $0 by 2053 if current trends continue, Williams said that propelled her even more to start My Black Receipt with her collaborators from HBCU Wall Street, Broccoli City, The Black Standard and Knox St. Studios. The campaign has already reached over $550,000 in total receipts, according to the website.

"When you invest and purchase from a Black-owned business, what you're really doing is strengthening the Black community," Williams said.

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