What do we do now?

action

I shared some facts and figures in my last post. I want to share a few more before I begin.

  • As of 2007, BOBs generated $136 Billion in economic output in the US economy and created about 910,000 jobs.
  • As of 2012, BOBs generated $150 Billion in economic output in the US economy and created 975,052 jobs.
  • As of July 2015, the US population is 321,418,820 and African Americans comprise 13.3% or 42,748,703.
  • Nationally, BOBs has grown from 1.9 million in 2007 to 2.6 million in 2012. African American women are the fastest growing segment in this category.
  • Lastly, entrepreneurial parity remains elusive for BOBs.

NOTE: BOBs is short for Black-owned Businesses

As I read these facts and figures, the need for Bobspotter seems even more impactful.

My last post highlighted the purchasing power of OUR community at $1.3 Trillion by 2017. When we compare this to the revenue generated by BOBs, we can see a vast discrepancy between what they generate and what is possible. Furthermore, the the revenue of OUR businesses only grew by 10% and the amount of employees WE employed grew by 7% from 2007 to 2012. There are several sources that will tell you that Blacks were the hardest hit by the downturn in the economy. It becomes apparent that being Black and successful in business continues to be a struggle in good times and even more so during bad times.

What do we do now? TAKE ACTION!

Bobspotter was a created to serve as a place to bridge the gap between BOBs and the conscious consumer. We firmly believe that a financially stronger community is good for everyone.

Here are things you can do that will make a difference TODAY.

  1. Download the app. It can be found on Google play and in the Apple store.
  2. Share this information with others. The more WE know…the more WE grow!
  3. Use the app to locate where YOU can spend money with US.
  4. If you know of a BOB, please let us know or make sure to add them to the directory.

Click here to submit BOBs

I want to leave you with this thought. If OUR community made a commitment to spend $20 a week with just the current BOBs, it would generate an additional $854,974,060 on a weekly basis to businesses that serve US and are owned by US. The power to reshape OUR community lies within US.

Source:

https://www.census.gov/newsroom/press-releases/2015/cb15-209.html

https://www.census.gov/quickfacts/table/PST045215/00

http://www.mbda.gov/pressroom/news-and-announcements/african-american-owned-firms-increased-61-percent

http://www.mbda.gov/sites/default/files/AfricanAmericanOwnedBusinessGrowthandGlobalReach_Final.pdf

http://factfinder.census.gov/faces/tableservices/jsf/pages/productview.xhtml?src=bkmk

Where is OUR time and money going?

facts This week I want to plant a seed. I just want to share some facts and allow you to draw your own conclusions. I will follow up next week and share my insights.

Source of information Nielsen African American Consumer Reports (2013 & 2015)

 

 

  • Black buying power is forecasted to be $1.3 Trillion by 2017.
  • Blacks commit 18% of their annual retail dollars to store brands.
  • Blacks spend nine times more than any other ethnic group on ethnic hair and beauty aids.
  • Black watch 37% more television than other ethnic group. Black women outpace Black men in this area.
  • 29.4% of the Black population is under the age of 18 compared to 24.6% of the total population and 23.3% of the white population
  • In 1976, only 41.6% of Black high school graduates were enrolled in a college university. That percentage rose to 70.9% in 2014, exceeding the rate of non-hispanic whites and the total population.
  • Real median househould income increased among Black households (+$793) than among white households (+$433) and more than the total population, according to the US Census.
  • The percentage of Black households earning $200,000+ increased 138% from 2005-2015, far outpacing the rate for the total population (74%).
  • 31 million Blacks are reached each week through radio.
  • 55% of Blacks live in the South
  • Only 3% of advertising dollars is spent with media focused on Black audiences.
  • Smartphone penetration is 83% in the Black community compared to 78% for the total population.

This is just a sample of the wealth of information shared in the Nielsen African American Consumer report.

So, what do you think? Share your thoughts and leave a comment below. We would love to hear your feedback.

Have you been Bobspotting? Submit their names below.

http://bobspotter.com/business-directory/?wpbdp_view=submit_listing

Black Friday Takeover 2016

“If you’re not going to boycott, BOBSPOT!”

On the day commonly known as “Black Friday” (The Friday after Thanksgiving), many of us will begin purchasing gifts to be given to loved ones during the holiday season. We will flood local shops and large chain stores in search of gifts for our children and other loved ones. Millions, if not billions of dollars, are spent between Black Friday, Small Business Saturday and Cyber Monday. It is for this reason that Bobspotter is encouraging everyone to consider patronizing Black Owned establishments in order to fill your gift giving needs!
Bobspotter is constantly adding new BOBs (Black Owned Businesses) to the app and website. Recycling our dollars can be easily done with a simple click online or using our smartphones. You can celebrate our chosen holidays knowing that we’ve empowered one another while receiving good deals on the hottest brands, fashions and unique products created by skilled hands!
WE NEED YOUR INPUT!!!

Bobspotter would like to know what you will be looking to purchase this holiday season. Let us know what YOU WANT and we will do the research to find out what Black Owned establishments you can patronize to get what you want and need! In 2015, we participated in the national boycott organized by Minister Louis Farrakhan. The retail world felt the economic impact and power of organized resistance in the call for justice. There is strength in asserting our ability to recycle our dollars. Imagine the impact on your community by simply redirecting a few dollars with Black Owned Businesses. It may be Air Jordans, toys, clothes, electronics (phones, Xbox, etc)….Bobspotter is here to provide you the intel on where to go…whether it is online or a brick and mortar location.
You tell us what you need AND we will do the research and provide you with name of places to go to buy what you are looking for. Simply submit your list of items by filling out the form at this link. When we find the Black Owned store that has the product you want or need, we will contact you via email so you will know where you can go and support the community!

Business owners

Grow your business through our “Black Friday” campaign.

We will be offering discounts on premium listings. For $19.99 a business owner can receive an upgraded listing which includes:
1. Bobspotter app listing
2. Listing logo
3. 200 word description
4. Youtube Video link
5. Separate website listing in our online directory here at bobspotter.com!

This offer is good through September 1st 2016. You upgraded ad will be activated through January 1st 2017.

Our goal is to provide current information to our users on all of the Black Owned Businesses locally and nationally that can fulfill their needs!