2020 was no doubt drenched with ethnic tensions in the United States. An alarming gamut of racially-charged events brought to the fore long-standing issues of social inequalities and systemic racism in America.
It is definitely more than the cops pulling a gun on a young Black American in Boston just because he “looked” dangerous. Racism extends into disparities in access to capital for IPOC (Black, Indigenous, and people of color) businesses.
We have been screaming for reforms and enhanced Black representation across all spectrums of American life, but the White House and Congress can’t do it all. Your sweet dollars can go a long way in bridging the wealth gap between Black and White communities.
How? By buying stocks in Black-owned companies.
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4 Best Black-owned businesses to invest in 2021
We will not deny that your investment choice is fundamentally an economic one before a racial empathic one. This means you can’t just throw your money into any business just because Blacks own them.
This explains why we put in the work to handpick the best performing Black-owned businesses (with the soundest prospect of positive ROI) you can invest in.
Let us tell you our top four.
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American Shared Hospital Services
The American Shared Hospital Services deserves our top pick, being one of the most economically viable Blacked-owned businesses to invest in. Founded in 1980 by the industrious Ernest A. Bates, the company is headquartered in San Francisco, California.
This organization focuses on the technological dimension of the American healthcare industry. It has evolved to a leading provider of state-of-the-art medical technology to medical centers and hospitals spread across the U.S.
Some of the dominant niches where the American Shared Hospital Services leases equipment include IMRT/IGRT, Proton Beam Radiation Therapy, and Proton.
The American Shared Hospital Services - thanks to its GK Financing subsidiary – has consolidated itself as a global authority in Gamma Knife unit ownership.
Of course, the company has grown in leaps and bounds since the 80s when it was founded. In 2020, it reported total revenue of $4,670,000 in the third quarter, a sizable leap of 17.0% from the $3,991,000 it posted as its total revenue in the second quarter.
CareCutz is another leading Black-owned behemoth in the Hair and Beauty niche for people with special needs. CareCutz is modeled as a matchmaking platform connecting people with disabilities in Ohio with professionals (spanning stylists and barbers) with specialized training.
This brilliant idea was born in 2009 when founder Marvin Green was thrilled with the passionate and attitudinal transformation in one of his clients with special needs following a nice haircut.
At the start, the platform had to make do with manually matching people with specialized hair services providers. Leveraging state agencies, they could match clients with more than 16,000 hair service providers.
However, with the rapid advancement of digital technology, CareCutz had to pivot to automated matchmaking, leveraging the partnerships with DS-Connex, Special Olympics, and Goodwills to spur their growth.
The platform is also fortified with an innovative automated training system that uniquely trains hair care service providers. Consequently, these providers gain disability-exclusive certifications. These certifications – spruced with positive client reviews and ratings – would boost their visibility on the platform.
The social impact of CareCutz ensures individuals with such special needs don’t get to sacrifice their sense of style, readily procuring their desired hair services. Ultimately, CareCutz ensures improved inclusiveness and equitable access for the American disabled community.
Clear Cutz is moving to raise $350k in seed funds to accelerate its push to digitally connect 240,000 hair service providers.
If the name doesn’t spring up curiosity in you, this company’s exploits should. With a blossoming reputation in the Health and Wellness space, Yae! Organics' product line stretches across snack bites, juice bites, and juice powers – all derived from premium quality veggies and fruits.
Well situated in a strategic healthy eating industry worth over $700 billion, with functional snacks, supplements, and beverages accounting for a $232 billion chunk of this industry, Yae! Organics is a force to watch out for.
Yae! Organics leverages top-class drying technologies to cultivate and preserve vegetables and fruits at their freshest and most nourishing state. Accordingly, Yae! Organics provides a ready supply of fresh plant-based nutrients like protein, chlorophyll, minerals, probiotics, and vitamins.
Yae! Organics’ economic potential is already glowing. They have a clientele base swollen with over 10,000 customers. By 2020, Yae! Organics had expanded by 111%, generating an estimated $400k in revenue.
Ping Identity Holding focuses on a broad spectrum of digital identity protection services. Courtesy of its trademarked Ping Intelligent Identity platform, this company has established a stronghold for itself in intelligence access controls, multi-factor authentication, and identity data management.
Founded in 2002 by Andre Durand, this organization has enjoyed enormous growth. By 2-16, Vista Equity Partners acquired this company, with it becoming public in 2019.
Ping Identity Holding hoards an enviable client base consisting of 13 of the biggest American banks, 7 of the biggest healthcare companies, and 5 of the biggest North American retailers. In its third quarter, Ping Identity Holding reported total assets of $965.57 million and total revenue of $180.33 million.
These are some of the soundest Black-owned businesses to invest in. We would advise you further make your investigation before putting money into these investments. It immensely helps to consult a financial planning expert to see if these investments fit your existing portfolio.
