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…
