To help boost small businesses, Facebook is launching its “Season of Support” campaign, and it all starts with a focus on black-owned businesses.
Studies have shown that during the pandemic, black-owned businesses have closed at a disproportionately high rate. A Federal Reserve Bank of New York report estimated that 41% of Black-owned businesses across the country shut down between February and April, compared to about 17% of white-owned businesses.
Starting October 30th, Facebook will roll out new features in the Facebook app that encourage people to create posts supporting Black-owned businesses, as well as offering interested businesses a toolkit to get involved. There will also be events and resources within Facebook’s Lift Black Voices Hub and on the Facebook App Facebook Page, including the #BuyBlack Friday Show, which will air live every Friday from Oct 30 – Nov 27 and will feature Black businesses, musical artists, and entertainers.
#BuyBlackFriday will feature the Facebook #BuyBlack Friday Gift Guide, showcasing products from Black-owned businesses across a wide array of categories. Facebook’s Businesses Nearby tool will also help people find local businesses, including those that have chosen to self-designate as Black-owned.
The company has also announced it will be working closely with the US Black Chambers, an influential network of Black entrepreneurs, to encourage people to #BuyBlack over the holidays.