#BUYBLACK FRIDAY: FACEBOOK ANNOUNCES CAMPAIGN IN SUPPORT OF BLACK-OWNED BUSINESSES

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Sat 10 October 2020:

Facebook is launching a three-month “Season of Support” initiative for small businesses — starting with a campaign to highlight Black-owned businesses, which are closing twice as fast as others during the pandemic.

Black-owned businesses are shutting their doors two times the rate of small businesses since the start of the COVID-19 pandemic in the United States. According to the Federal Reserve Bank of New York, an estimated 41% of Black-owned businesses were forced to shut down between February and April,compared to about 17% of white businesses during the same period. Now, Facebook plans to step in and help change that.

“Black-owned businesses have been hit especially hard by the pandemic,” Sheryl Sandberg, Facebook’s chief operating officer, wrote in a Thursday blog post announcing the new initiative. “But we know that millions of people want to help.”
The campaign runs from from October 30 through November 27, the retail industry’s Black Friday. Facebook (FB) will spotlight a Black-owned entrepreneur on the live #BuyBlack Friday Show each week, and the company is also offering events and resources through its app and a Lift Black Voices hub.
Black-owned businesses can request a toolkit to amplify the #BuyBlack campaign, and later this month Facebook will release a #BuyBlack Friday Gift Guide featuring products in a variety of categories.
Facebook says it will be adding features to the social media platform encouraging people to create posts supporting Black-owned businesses, while also promoting events and offerings to the consumers and businesses.
Read more about #BuyBlack Friday here.
Photo: Screen grab from: https://web.facebook.com/business/m/buyblackfriday?_rdc=1&_rdr

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