Black-owned businesses contribute more than $207 billion in economic revenue and employ more than 1.3 million workers. Here in Orlando, these businesses generate an average annual payroll of around $176,000. Despite this real progress, nearly 37% of Black households in our city have zero net worth. Inflation and rising costs have hit small businesses hard, and many are operating on razor-thin margins. These pressures are generally even greater for Black business owners who often lack access to traditional financing. However, dollars spent at a local business re-circulate through Orlando’s economy two to four times more than money spent at a non-local company.
Over the holidays, one of the most impactful ways that you can help strengthen your local community is by supporting Black-owned businesses. These local businesses are not only creating local jobs, they are also contributing to the cultural fabric of Orlando. Unfortunately, many of these small businesses struggle to compete with larger chain retailers and online giants, especially during the busiest shopping months of the year.
Shopping at these local businesses is one way to support them, of course, but it is far from the only thing you can do to make a difference. Here are some ways to engage with local businesses over the holidays:
Engage with businesses’ posts on Facebook and Instagram, leaving positive reviews, and sharing their stories on social media platforms can help them to reach new customers. Imagine the ripple effect if every person in our community shared just one post from a Black-owned business this season.
Join Facebook groups like Black Business Orlando that are dedicated to uplifting local entrepreneurs. Our group has more than 27,000 members, making it the largest Black business network in central Florida. In these groups you can discover new businesses, share your own recommendations, network with community members, learn about upcoming events, and participate in conversations with the goal of helping local businesses grow.
Plan and shop early to help ease the holiday rush and to help small businesses avoid being overwhelmed. Another benefit of planning ahead is that many items and services we think are more convenient or only available from a larger company can often be found from a local business with just a little bit of extra time.
Orlando’s economy thrives when local businesses succeed. This holiday season, I challenge you to be intentional. Before you click “Buy” from a national retailer, ask yourself: is there a local business that offers what I need? In an instance of free time, can you take a moment to share a post or write a review on social media? With local support, we can ensure that Black-owned businesses in Orlando don’t just make it through the holidays, but that they flourish.
Michael C. Pitts is the founder of Exclusive Marketing and Automation, CEO of The Gentleman of Marketing and President of Black Business Orlando (BBO), a group for business owners to connect and promote their endeavors.