Why Birmingham is supporting Black Pound Day
Cllr Sharon Thompson, Cabinet Member for Homes and Neighbourhoods talks about why Birmingham is backing Black Pound Day – a national campaign which encourages people to buy from a Black-owned business one day a month.
Since March, our lives have been a constant adjustment, as communities deal with the impact of Covid-19. This, alongside the global reaction to the death of George Floyd, has highlighted some stark inequalities both across the country and here, in Birmingham.
National Black Pound Day was created as one of these many moves towards positive action by So Solid Crew member Swiss. It’s been set up to support black businesses and the growth of the UK economy. Black Pound Day invites all communities to consciously spend with black businesses on the first Saturday of each month. The city of Birmingham is backing this and encouraging businesses to sign up and register on the Black Pound Day website – ahead of the next event on Saturday, 1 August.
The economic impact of Covid-19 will continue to affect businesses, but it will have an even greater impact on Black communities. We’re already seeing a disparity in business in the UK. Black entrepreneurs are more than twice as likely to be denied a loan than white entrepreneurs and almost 12% more likely to be rejected for an overdraft. So, it is vital that we support black businesses so to ensure that they survive.
I know both I and Cllr John Cotton, Cabinet Member for Social Inclusion, Community Safety and Equalities, want to thank our partners for coming on board and helping us to bring Black Pound Day to Birmingham. In particular, I’d like to thank NewStyle Radio, Big City Radio, Natwest Bank and Joel Blake OBE and Jamila Davis from the Greater Birmingham Chamber of Commerce for all of their support in raising awareness of Black Pound Day in Birmingham.
The campaign has also fostered high-profile support from presenter Alison Hammond, international music artist Apache Indian, actress Cherelle Skeete and Dee Kelly.
I’m urging all Black-owned businesses in our city to register on the website blackpoundday.uk and would urge anyone interested in supporting this movement to sign up for updates – and to get ready to spend with these businesses on the first Saturday of every month.
We are not the only organisations getting behind Black Pound Day, it’s great to see so much local community involvement and the Legacy Centre of Excellence in Aston will be holding a monthly Black Pound Day event and cultural marketplace.
This is an opportunity to not only promote and support the Black economy in Birmingham and online but also to bring our communities together. So please get registered and get spending.