What Is The Real Black Friday?

The Real Black Friday is an initiative created in order to bring awareness and exposure to Black-owned and operated businesses in northeastern Ohio. The purpose is to inform the community of the number and types of Black-owned businesses, while also encouraging individuals to financially support these businesses as consumers. African Americans currently have buying power worth more than $1.2 trillion dollars, yet we spend little of our money within the context of the Blacked-owned business. Oftentimes, this is due to lack of exposure because the community is unaware of the “who” or “where” of Black-owned businesses. According to the NAACP, “Currently, a dollar circulates in Asian communities for a month, in Jewish communities approximately 20 days and white communities 17 days. How long does a dollar circulate in the black community? 6 hours!!! African American buying power is at 1.2 Trillion; and yet only 2 cents of every dollar an African American spends in this country goes to black owned businesses.” I’ve had the opportunity to speak at various events in and around the great city of Cleveland regarding increasing financial awareness. One of the best ways to improve the financial stability of a city is through increasing the revenue of businesses. Knowing that Black- owned businesses lack exposure and finance, these two areas have been combined for the benefit of demonstrating our collective buying power. We all must become a part of the solution. The Real Black Friday is a spotlight day, leading into a weekend in which Black-owned businesses can provide superior service and goods; while African Americans and all others consumers can take the weekend to spend money within these businesses.

As a consumer, these are the reasons you should be involved in The Real Black Friday:

Exposure to new and established Black-owned businesses

Being able to take advantage of discounts and deals offered by businesses throughout the day and weekend

An opportunity to generate wealth within the Black community

Potential employment opportunities

Networking Opportunities

About The Visionary

LaRese Purnell has 18 years of experience in business management, tax, finance. He is the current co-owner and Managing Partner of CLE Consulting Firm an Accounting, Tax and Payroll company located in downtown Cleveland. He is a strong innovative financial and strategic leader with both instincts and intellect, a formidable combination in the business world. He has served in executive positions leading business and financial departments within multi-million dollar for profit and non-profit corporations.

LaRese received an MBA in Finance from the University of Toledo. He is currently pursuing his Master’s in Accountancy in Corporate Taxation from John Carroll University, with an expected completion date of December 2020. LaRese is committed to the community and its residents, so he serves on the following Board of Directors as the 2nd VP for the YMCA of Greater Cleveland, The Cleveland Clinic South Pointe Hospital, Cleveland Public Library Foundation, the Treasurer of the NAACP Cleveland Branch and the Treasurer for The Council for Economic Opportunities in Greater Cleveland (CEOGC).

He’s the author of Financial Foundations, Building Financial Freedom One Tool at a Time, where he uses everyday language to address the most fundamental questions people have about money. He has traveled to over 35-40 cities nationally to teach financial literacy at various conventions, seminars, colleges and universities and various other events. He has been featured in various local and national publications and has appeared on multiple radio and television programs discussing various Financial matters. Outside of work, LaRese stays busy spending time with his son (Gaven) and daughter (Gabbi), playing sports and traveling.

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