How To Support Black Owned Businesses
How Can You Support Black-Owned Businesses Like Lusters?
Luster's is proud to be one of many Black-owned and operated businesses. Like so many other hard-working, entrepreneurial companies, we are pleased to offer our quality products for purchase. It's been our mission for more than 60 years to continue to provide premium personal care products. We're proud of our service to the community, but we also want to use our voice to encourage and offer our support to other Black-owned businesses.
By supporting other Black-owned businesses and entrepreneurial efforts, you also support Lusters. It's part of what helps us grow and thrive even when we experience challenges in our communities. So, here are some ideas on how you can support greater racial equity and encourage growth in our community for a truly equitable America.
Buy Products Formulated By The African American Community For The African American Community
You must know where your products and services come from, but do you know who formulated the product? Do you know that the product was developed to meet your needs? We're proud to have Fred Luster II as our research & development head chemist. We take great personal interest and interest in formulating new products to serve your needs better.
Buy from Black-Owned and Family-Owned Companies
As a family-owned and operated business, also Black-owned, our focus has always been on providing the best hair care products. We're dedicated to offering the best products for natural hair. We take our mission seriously. We have three generations of Lusters working in the business. We're invested in the success of our products, but we're also invested in seeing other Black-owned and Family-owned companies in our community succeed. We're part of the community, and we are all a part of one family.
Connect Via Social Media
For a business that has been in business as long as we have been, we've seen the evolution of social media, and it's become such an essential part of how we businesses connect with each other. We gather input, hear rave reviews of how well our products work, and offer advice, tips, and recommendations. Make a point to connect with local black-owned businesses through Facebook, Twitter, Pinterest, and YouTube.
Share Your Story About Lusters As Well As Other Black Owned Makeup or Self Care Products Companies
At Luster's, we're uniquely qualified to deliver the moisture, shine, and volume you need, but our name says it all. We're dedicated to providing the best products for your natural hair because we know our products are effective for men, women, and children. We guarantee that you'll be satisfied with our products, and we'd love it if you could share your experience with Luster Products.
As a leader in the hair-care industry, we are dedicated to developing the best natural hair care products on the market. It's part of why we're trendy and relevant. We demonstrate Luster's dedication to finding and delivering high-quality products to you, but we also stand behind every product. We would never offer you a solution we hadn't already tested and proven to be a solution we love. Our dedication to excellence is just one of the ways we give back.
Why Support Black-Owned Businesses Like Luster's Natural Hair Products?
Luster's Products has been a Black-owned business for more than 60 years. We're the hair care pros. We've developed the best hair care products as part of our natural hair care lines of products. We're uniquely qualified to deliver the moisture, shine, and volume you need, but our name says it all. We're dedicated to providing the best shampoo for your natural hair because we know our products are effective for men, women, and children.
Our Luster's Natural Hair Products are the best products for your natural hair. We know you seek daily hair care for all your hair care cleaning and moisturizing needs. Our high-quality ingredients combine with quality testing to deliver on our satisfaction guarantee. Our products offer the benefits you've come to expect and rely on for daily, consistent use.
You might find it challenging to care for your natural hair, but that's why we've created this guide—to help answer questions and point you in the right direction. Our goal is to help you achieve a place where your hair is healthy, well-nourished, and strong. We firmly believe that our products are the best solution to support and continually improve your hair because we've seen how well they've worked for our customers over the years.
At Luster Products, our goal is to offer the solutions that will support your lifestyle and preferred stylistic choices while offering infusions of nutrients perfect for your daily hair care needs. Luster's Natural Hair Products is the best not only because it works. We also provide a range of hair care products that address your individual needs. Beyond cleaning and moisturizing your hair, our natural hair care shampoos strengthen and protect your hair, which helps prevent tangling, split ends, and that dull or heavy feel. And we're here to support the needs of you and your whole family as part of our entire community.
Over the last year, Black and other minority-owned and operated businesses have been particularly hard hit by the economic downturn, closures, and hardships. We've all seen, heard, and felt the struggle, and it has been wonderful to see how our communities have been able to come together to support and encourage each other.
Even in the best times, 8 out of 10 new Black-owned businesses are statistically likely to fail. It's not melodrama to say that they have the deck stacked against them with what can go wrong and does go wrong for them as a struggling business. The last year has been even harder, though. Statistics show that Black companies declined by more than 41% from February to April of 2021, and we all know businesses that have closed their doors for good.
Even for those businesses who have survived the hard times, about 10% of 3,500 surveyed Black-owned companies would describe themselves as growing and profitable. Black-owned businesses have not only been hit extremely hard by the pandemic, but the economic hard times have represented a blow to the growth trends of Black entrepreneurship.
The Black Chamber of Commerce found that sales and support for Black-owned businesses jumped to 75% for a brief period in May and June when George Floyd's murder inspired support for Black-owned businesses. It is essential to continue supporting Black-owned businesses to support the national movement against racial injustice, but other vital reasons are.
Top Reasons To Support Black-Owned Companies
Supporting Black-owned businesses does more than help the national movement against racial inequality. It uplifts communities and fosters economic vitality. But it's not just the right thing to do. It also makes economic sense. Here are a few top reasons to support Black-owned businesses.
Build Generation Wealth And Close the Wealth Gap
While you may have heard rumbling about the chasm between the average Black household and that of an average white home, the actual numbers are a bit more revealing. The average Black household has 1/10th the net worth of a white one, which is a factor of wage inequality and a whole range of other factors, including business ownership. In other words, supporting a Black-owned business does help to close the wealth gap.
Support Entrepreneurial Equity
Starting a business is not easy, but it's even more difficult when you're a Black entrepreneur, given the statistical fact that more than half of all loans for Black-owned businesses are declined. That is a rejection rate twice the rate at which white-owned businesses are declined. That inequity is even further exacerbated by the policy of banks and other financial institutions to administer Federal relief packages for small businesses that are already customers. Black-owned companies have been further side-stepped and pushed out of consideration for aid packages that were intended to help them survive.
Encourage Job Growth
The systematic disparities are hurting us all because Black entrepreneurs are working to create jobs, increasing the national income, with far-reaching benefits that filter through... The Center for Global Policy Solutions indicates that racial disparities account for more than a million new businesses never created. That translates to more than nine million jobs. And the price tag for all that disparity is an estimated $300 billion. That is not just a few pennies here and there. That's billions of dollars and millions of jobs.
Given the current economic difficulties, it's time to find ways to address better the inequities we face at every business level. One crucial step forward is and will continue to be our collective support of Black and minority-owned businesses. It does make a difference in the survival of our local businesses and the rejuvenation of our communities as a whole. It means jobs, income, and filtering out that money into the community. We are all stronger and more resilient together, but it's not something that any one of us can do alone.