In the midst of a wave of Black Lives Matter protests that swept the globe in 2020, last August marked the second annual Black Pound Day; its aim being to encourage support from people to buy from Black-owned companies (both local to them and online).The power of black and other ethnic consumers represents a significant proportion of the marketplace with an estimated spending power of £300 billion per year in the UK.
While black people are avid consumers, we generate and hold very little wealth comparatively speaking. A recent report by the Runnymede Trust titled, The Colour of Money: How racial inequalities obstruct a fair and resilient economy, highlighted this fact.
Kenroy Malcolm is an aspiring property investor and runs a YouTube channel where he provides tips and tricks to help his viewers save money as well as charting his own wealth-building journey. He is part of a small minority of black content creators in the personal finance space online who are keen to inspire and encourage others
On this episode, Kenroy and I talk about why wealth-building is not just important, but an essential part of creating economic freedom. We also talk about his own personal finance journey and his inspiration for YouTube.
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