Investing in Black-owned businesses can be a meaningful way to support diversity and inclusion in the financial world. Here are seven Black-owned or founded companies you can buy stock from, assuming they are publicly traded:
– Sector: Media and Entertainment
– Description: Urban One is a media conglomerate focused on African American culture and communities. It operates radio stations, digital platforms, and a cable network.
2. Carver Bancorp, Inc. (CARV)
– Sector: Banking and Financial Services
– Description: Carver Bancorp is one of the largest African American-operated banks in the United States, providing financial services to underserved communities.
3. American Shared Hospital Services (AMS)
– Sector: Healthcare
– Description: Founded by Dr. Ernest Bates, AMS provides innovative medical technology solutions, focusing on the delivery of advanced medical services.
– Sector: Real Estate Investment Trust (REIT)
– Description: Founded by Robert L. Johnson, RLJ Lodging Trust owns a diverse portfolio of hotel properties across the United States.
5. Ping Identity Holding Corp. (PING)
– Sector: Technology
– Description: Co-founded by Andre Durand, Ping Identity provides identity security solutions, ensuring secure access to applications for enterprises.
6. Global Blood Therapeutics (GBT)
– Sector: Biotechnology
– Description: Founded by Dr. Ted W. Love, this company focuses on developing treatments for blood-based disorders, including sickle cell disease.
7. Axsome Therapeutics, Inc. (AXSM)
– Sector: Biotechnology
– Description: Co-founded by Dr. Herriot Tabuteau, Axsome is dedicated to developing treatments for central nervous system disorders.
How to Invest
To invest in these companies, follow these steps:
1. Open a Brokerage Account: Choose a reputable brokerage platform like Charles Schwab, Fidelity, Robinhood, or E*TRADE.
2. Deposit Funds: Transfer money into your brokerage account from your bank.
3. Research Stocks: Use the stock ticker symbols provided to find more information about each company.
4. Place an Order: Decide the number of shares you want to purchase and place a buy order through your brokerage platform.
Importance of Supporting Black-Owned Businesses
Investing in Black-owned businesses not only provides potential financial returns but also supports economic growth and entrepreneurship in underrepresented communities. It helps address the economic disparities and promotes a more inclusive economy.
Considerations
– Due Diligence: Always perform thorough research before investing. Consider the company’s financial health, market position, and future prospects.
– Diversification: Avoid putting all your money into one stock. Diversify your investments to manage risk effectively.
By supporting these businesses, investors can contribute to economic empowerment and enjoy the potential financial benefits of their growth.