Though today’s wealth inequality can be linked to the Jim Crow era, supporting Black-owned businesses can move the needle. Small business owners build wealth for their families and strengthen local economies. Forty-eight percent of purchases made from small businesses circulates through the local community, compared to 14% of purchases made from chain stores, data show.
“It impacts equity, it’s helping jobs, it’s helping feed families,” Destinee explained. “When you’re supporting these small businesses, you’re putting money directly into someone’s pocket versus a big box store.”
Business owner Treatrous Jackson echoes Destinee’s sentiments, saying “There are people who want to patronize Black businesses and have their Black dollars circulate through Black communities but they don’t get that opportunity. People from other nationalities don’t get a chance to have a place to go to find those businesses so that they can contribute to diversity.”
Treatrous, locally known as “Treat,” met Destinee at Charlottesville’s Black Business Expo. Treat owns a small business called The Tax Ladies with her business partner, Libby Edwards-Allbaugh. Their tax company has thrived in Charlottesville for the last 10 years and is featured in the Charlottesville Black Business Directory.
The Tax Ladies worked throughout the past year to assist companies through the pandemic by helping businesses locate resources and apply for Paycheck Protection…