“My Economy” tells the story of the new economic normal through the eyes of people trying to make it, because we know the only numbers that really matter are the ones in your economy.
The number of Black business owners in the U.S. fell more than 40% between February and April as the COVID-19 pandemic shut down the economy. That’s more than double the decline of white business owners.
Fostering a community of consumers that can find support and engage with Black-owned businesses is a goal of tech entrepreneur Rameish Budhoo. In 2018, Budhoo created the Black Nation app because he, “felt the gap in finding Black-owned businesses that we can support.”
“I really believe we are a part of the solution for what we say that we want, which is economic inclusion, and it was like, if we can’t get it, let’s create it,” he said.
The app started out as a directory, but “in recent events” Budhoo says he saw “a greater demand for a community of people” which led him to turn Black Nation into a social platform.
As platform use has increased, Budhoo has received positive feedback from businesses’ who use the app to advertise. Some of them have sold out of products, and reached new sales peaks.
Click the audio player above to hear the full story. Let us know how your economy is doing using the form below, and your story may be featured on a future edition of “My Economy.”
Let us know how your economy is doing using the form below, and your story may be featured on a future edition of “My Economy.”