feature: official black wall street – a digital platform that celebrates black-owned businesses and entrepreneurs

September 15, 2015

CLICK HERE to check out Official Black Wall Street – a digital platform and database that is bringing a spotlight to black-owned businesses, black entrepreneurs; and inspiring many in the black community to create their own businesses. The New York based organisation state, “Studies show that out of our $1.1 trillion buying power only 2% is invested in black-owned businesses. This platform was created out of a need to support businesses that are owned and operated by black entrepreneurs to funnel more of that money back into our communities.The most common challenge however is discovering black companies and verifying that older businesses are still black-owned. That is where Official Black Wall Street comes in”. In regards to their name, Official Black Wall Street write: “Official Black Wall Street pays homage to the iconic “Black Wall Street” of Tulsa, Oklahoma (pictured). By the 1920s, the racially divided community became the mecca for black businesses. Largely due to segregation, blacks developed and supported their own businesses, which flourished and created one of the most prosperous African American communities in the country. Hundreds of black-owned businesses lined Greenwood Avenue until June 1, 1921 when the deadliest race riot in US history lead to the destruction of these businesses, claiming the lives of as many as 300 African Americans and leaving over 9,000 homeless. Remaining Black Tulsans rebuilt Greenwood without assistance from the state, and by 1942, Greenwood saw a resurgence of more than 240 businesses. Official Black Wall Street represents the rebirth of our most prosperous African American communities”.

By Alexander Aplerku, AFROPUNK Contributor