WS Chronicle

BY TIMOTHY RAMSEY

THE CHRONICLE

Statistics show that the lifespan of a dollar in the Asian community is 28 days and in the Jewish community the lifespan is 19 days.  For the African-American community, the lifespan of the dollar is about six hours.

To help keep the dollar in the black community longer, Winston-Salem businessmen Victor Davidson II and Lewis “Buck” Green have created a phone application named Black Dollars.  The Black Dollars app lists black owned businesses for African-Americans to patronize.

“I am real big on generational wealth, so I wanted to build something that my kids could one day own,” said Davidson. “We feel this app is a way for small business owners to build wealth as well.  Our goal is to have the black dollar stay in the African-American community for at least a month by recycling the dollars within our own businesses.”

According to a recent Nielsen Co. statistic, African-Americans will have $1.2 trillion in collective buying power in 2016.  Davidson and Green seek to steer some of those dollars toward black-owned businesses.  They currently are attracting businesses to the app by going door to door and using social media. They are starting with local businesses but plan on going nationwide as the app grows.

Davidson went on to say, “Our hope is for every African-American, prior to purchasing any goods or services, check their Black Dollars app.  We want to be on every African-American smart phone in the nation. Before they spend a dollar anywhere, we want them to see if there is a black-owned business to patronize.”

The app is free to download and to register a business and is free of charge. Davidson said navigating the app is very easy. All the user needs to do is enter a ZIP code and search radius to bring up the business or product the user is searching for.  Davidson and Green also vet the businesses on their app to ensure they bring the highest quality to the consumer.

“What separates our business from similar apps is our rating system that allows past consumers of that business to go online and give a rating about the business,” said Green.  “We in turn examine the reviews and slot the company on our site based on the feedback.”

With only 2 cents of every dollar an African-American spends in the country going to black-owned businesses, apps such as Black Dollars have an opportunity to bring that amount up drastically.

Green wanted to convey to African-Americans that if every black person thinks about shopping black-owned businesses 50 percent of the time, they can save the community, the businesses and the people.

Dr. Rebecca M. Clayborn has her business, Makidada clothing store in Alexandria, Virginia, on the app so that customers can find her. She said she believes African-Americans hold the power to create opportunity for ourselves and others and Black Dollars shares in that mission.

“The ripple effect that Black Dollars will create shapes the community by providing avenues of social and economic empowerment,” Clayborn stated.

The app can be downloaded in in the Google play store. Call the businessmen at 877-651-0311, or go to www.blkdollars.com