What Does Being “Black-Owned” Mean In 2022?

What Does Being “Black-Owned” Mean In 2022?

What Does Being “Black-Owned” Mean In 2022? The answer perhaps varies depending on who you ask. Racial fairness can be a complex topic and having a black owned business should provide greater equity in the beauty and fashion industry.

In a survey conducted by the United States Census Bureau, Black Americans accounted for 13.4% of the total population and this number did not consider the people who identify as multiple races. Black-owned consumer goods and products from Black-owned brands were found to be regularly under-indexed in major retailers.

Black owned skin care businesses and their products have been known to be thrown into dusty bottom shelves. It is important for all industries to have at least some form for accountability which can crate an ecosystem that can raise and elevate Black people as well as their businesses.

The concept of Black ownership can also be difficult for retailers to deal with. Many Black entrepreneurs face difficulties and challenges that their white counterparts don’t have to go through. Ownership verification in addition to another layer of scrutiny might look improper, especially in business environments.

The obvious disparity between the demographics and the retail encouraged the founding of the Fifteen Percent Pledge which calls for retailers to commit 15% of their shelf space to Black-owned brands. Twenty-two companies have taken the pledge so far with some notable names such as Sephora and Macy’s being included in the list.

The Fifteen Percent Pledge can allow for Black owned businesses such as BEverythingBody to get the recognition they deserve. They can better market their high-quality products such as the lavender body butter and beauty bundles to the targeted audience.

However, there are some Black entrepreneurs and brand owners that do not consider audits and verification of brand ownership to be sufficient enough. While this can be discriminatory, there is also the problem that white-owned parent companies can manipulate customers into thinking that they are supporting a Black-owned business.

Perhaps it is best to step back and ask ourselves: what is a black-owned business? Are the current efforts being made truly enough to help Black business owners to eliminate the disparity they face and the inequality they must overcome.

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