Why LGBTQ+ People Should Spend Their Money At LGBTQ+ Businesses

by IdeallyDigital | Jun 19, 2020 | Blog

lgbtq-people-should-spend-at-lgbtq-businesses

The LGBTQ⁺ community is an economic powerhouse in the United States. The community has a spending power of $3.7 trillion to support and uplift companies who support the LGBTQ⁺ community. Now, imagine that spending power going to support LGBTQ⁺-owned small businesses catering to our community and offering us jobs. The LGBTQ⁺ community has a lot of spending power and there’s a lot that can be done with that power. The LGBTQ⁺ community understands the power and importance in sticking together to fight for the advancement of the community. From the fight against HIV and AIDS to the fight for marriage equality, the LGBTQ⁺ community has been fighting to advance with the rest of the population. Those fights led to civil rights protections allowing us to have the economic standing we have today as a community. There are currently 900+ LGBTQ⁺-owned businesses in the U.S. With more than 900 LGBTQ⁺-owned businesses in the U.S., it is easy to give your money back to the community. The top five states, in order, for the highest number of LGBTQ⁺-owned businesses are California, New York, Texas, Florida, and Georgia. In California, there are more than 220 small businesses owned and operated by people of the LGBTQ⁺ community. Businesses owned by our community have contributed tremendously to the U.S. economy. According to the National Gay and Lesbian Chamber of Commerce, LGBTQ⁺-owned businesses contribute more than $1 billion a year to the U.S. economy. With all LGBTQ⁺ businesses included in the count the contribution to the U.S. exceeds $1 trillion. The NGLCC has strict criteria for qualifying as an LGBTQ⁺-owned business. A business must:

Majority (at least 51%) owned, operated, managed, and controlled by an LGBTQ⁺ person or persons who are either U.S. citizens or lawful permanent residents;
Exercises independence from any non-LGBTQ⁺ business enterprise;
Has its principal place of business (headquarters) in the United States; and
Has been formed as a legal entity in the United States.

A major reason to support LGBTQ⁺-owned businesses is that these businesses are part of the community and understand the community. Companies, like Otherwild, were created out of a need for things made specifically for the LGBTQ⁺ community. The company’s androgynous swimwear is giving nonbinary members of the community something that they need. Being able to represent who you are through clothing is important. It is an external visualization of who you are as a person. Gender is an ever-evolving concept and businesses creating clothing for every gender is crucial. You know our community is going to come through. Run with COMMANDO is dedicated to the cause of uplifting LGBTQ⁺ small businesses to the forefront, by specifically targeting, learning about, and promoting this audience for the past 25 years. Like clothes to match evolving genders, Run With COMMANDO creates ads that resonate with LGBTQ⁺ community. This Pride Month, #ShopwithPride and give your small businesses owned by LGBTQ⁺ people some financial love. Pride Month is just an officially recognized time to let your pride flag fly. However, these businesses are around yearlong and we can do so much to support them outside of June. There are so many ways to support the LGBTQ⁺ community and uplifting LGBTQ⁺ businesses is one way to bring more wealth to the community as well as adding jobs to be filled by our community. The economic advantages flow several ways when LGBTQ⁺ dollars go to LGBTQ⁺ businesses. Support them now and the money will support our community in the long run.

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