Discover how Tameka Stigers is working to save the struggling Black beauty industry in St. Louis and promote economic growth through her innovative programs and initiatives.
St. Louis stands at a pivotal moment, demanding profound transformation in our economic landscape.
As a beauty industry entrepreneur, my vision is of an economy that mirrors the vibrancy of our residents.
A critical step towards realizing this vision is bridging the racial wealth divide. It’s a concerning reality that within our community, the circulation of the black dollar significantly lags behind. Research indicates that while in Asian communities, the dollar circulates for an average of 28 days, and in Jewish and white communities for 19 and 17 days respectively, in Black communities, this duration dwindles to a mere six hours.
This cycle often terminates with purchases from non-black owned beauty supply stores, where the earnings rarely benefit our local economy, as these owners neither reside nor invest here.
The urgency to enhance this scenario is clear. Our strategy must encompass robust support for black businesses, fostering an environment where they don’t just survive, but flourish. This, in turn, catalyzes the growth of our neighborhoods and the broader community.
Since opening my beauty supply store on Delmar Blvd in February 2021, the challenges of sustainability have been stark. Despite a black population exceeding 50%, the majority of beauty supply outlets are not black-owned, creating a disconnect between consumers and proprietors.
To counter this, a significant influx of investment is essential to bolster black manufacturers, inaugurate additional black-owned beauty supply outlets across the region, and initiate a ‘buy black in beauty’ promotional drive.
This initiative proposes an ecosystem where the black dollar’s circulation extends, enhancing both economic and social vitality. By supporting black manufacturers who then supply to black-owned stores, which in turn serve beauty professionals and the wider community, we create a cycle of prosperity. This not only stimulates financial growth but fosters a sense of communal upliftment and progress towards narrowing the racial wealth gap.
In embracing this model, we’re not merely circulating monetary wealth but also nurturing a positive communal spirit. It’s this holistic wealth that truly empowers communities, driving us closer to an equitable and thriving economic system.
#blackbeautyprofessionals #economicgrowth #communityempowerment
