To leverage the power of our dollar for economic and social good.
Spendefy is produced by Spendefy, LLC; an Atlanta-based tech company founded in 2015 by Eldredge E. Washington, Antwon Davis, and Eldredge P. Washington. Spendefy was built as a platform to leverage the power of our dollar for economic and social good. We believe supporting local black-owned businesses is one way we can contribute to economic and social good. We’re creating awareness and exposure for amazing black-owned businesses around the US. After observing the ongoing lack of support for black-owned businesses in Atlanta and around the country, our team began to erect a plan to build solidarity between black-owned businesses and conscious consumers. We gathered data and statistics, and conducted our own surveys to get a deeper understanding of the state of black-owned businesses in America. What we discovered was both alarming and inspiring.
According to the University of Georgia’s Selig Center for Economic Growth, money circulates zero to one time within the black community, compared to the more than six times it circulates in the Latino community, nine times in the Asian community and unlimited amount of times within the white community. Although Black Americans currently have a buying power of $1.3 trillion, studies prove that 8 out of 10 black-owned businesses will fail within their first 18 months of launching. This is mostly due to a lack of exposure and financial support. Once we gathered all of this information, it provoked and inspired our team to create the solution which is now formally known as Spendefy.
“Spendefy is a digital platform that makes it easy for consumers to discover amazing black-owned businesses in their city.”
We are challenging the shallow myths that claim that black-owned businesses cannot, will not, and do not operate in a professional manner by helping our users discover amazing black-owned businesses online, where they live, and where they work. Our platform enables black business owners to tell their story as it pertains to the history, intent, and vision of their company; while simultaneously facilitating a way for conscious consumers to connect with those business owners in a genuine way. Lastly, Spendefy allows conscious consumers like you to support local black-owned businesses by choosing to spend different.
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