THE PURPOSE
My Black Owned was created to amplify the stories of Black-owned businesses through video and educate business owners on how to use it as an effective marketing tool.
THE REASONS
WEALTH GAP.
Along with limited capital, Black-owned businesses are impacted by the racial wealth gap in the U.S. For instance, in Chicago, the average sales receipts earned per firm for Black businesses in Chicago is $47,246 compared to White firms, $571, 419 according to a State of Racial Justice report by UIC.
LESS CAPITAL.
Black business owners tend to face systemic barriers to capital limiting the amount of money they have to start their business, let alone create a marketing budget. According to the U.S. Chamber of Commerce, 76% of Black entrepreneurs rely on personal and family savings for financing.
POWER OF VIDEO.
Video however is increasingly becoming a more affordable, accessible, and effective marketing tool for business owners. In Wyzowl's 2022 State of Video Marketing report, it was found that 81% of marketers are saying that video has helped them directly increase sales. Videos that tell a business' story are not only helping to humanize the owners but are influencing consumer purchasing decisions.
Collaboration is the force that moves this project forward.
​
COMMUNITY NOMINATIONS
To determine which Black-owned businesses are highlighted in a community My Black-owned asks for community participation by having local residents to nominate their favorite Black-owned business.
​
COLLABORATING WITH LOCAL ORGANIZATIONS + CREATIVES
The work of My Black Owned (MBO) on a community scale would not be possible without the support and knowledge of local business organizations and creatives. MBO partners with them to capture business stories, coach the highlighted business owners and provide additional marketing support through a public workshop.
​
INFORMED BY FEEDBACK
To guide the support that MBO and the partner organization provide, business owners are surveyed to assess their marketing needs and educational goals. These assessments are used to plan coaching sessions and public workshops.​
