In the aftermath of the racial justice uprisings that swept the US in 2020, corporate America issued a swath of commitments aimed at addressing racial inequity. Big business promised to help workers of color rise through their internal ranks, and also committed to a loftier, if less specific, agenda: supporting Black businesses. The nation’s 50 biggest companies and institutions made pledges to the tune of $50bn. But according to an analysis by the consulting firm Creative Investment Research, only $250m of the promised funds had been spent by the next year.
Meanwhile, another kind of action – one that may seem like a drop in the bucket when compared with 11-figure promises – began to proliferate. The post-George Floyd days saw an explosion of Black business lists, directories curated to help individuals put their own dollars to use. From fashion publications and local business associations to food delivery and fitness apps, institutions began to publish hand-picked selections of Black-run companies to support.
