CLEVELAND — Have you ever heard the story of ‘Black Wall Street’? If you haven’t, you’re not alone. But it’s time you explore this story of prosperity and perseverance by African Americans in the early 20th century.
In the early 1900s when segregation was the rule of the day, there was a community in Tulsa, Oklahoma, known as the Greenwood District. What made the area special is that it was a self-sufficient neighborhood with businesses and homes owned and maintained by African Americans. During that time period, what was accomplished in the neighborhood was rare – eventually earning the title ‘Black Wall Street.’
The Tulsa Historical Society and Museum calls Greenwood one of the most prosperous African American communities in the country at that time. It would become a model for other cities around the country.
But the city was almost completely destroyed in 1921 in a race massacre that left many people dead and buildings in ruin. But Black Wall Street made a comeback over the years, building on the principles that made it was it was – a community where blacks supported one another, thriving together.
“We were able to empower ourselves,” said Claude Booker, thinking about what Black Wall Street represented. “We had our own pharmacies, doctors, believe it or not we even had our own airport there. It was incredible.”
“Knowing how segregation was at the time, they had no choice but to embrace black excellence.”
Booker is the owner of Booker’s Soul Food starters. As a business owner, he lives by some of the principles made famous on Black Wall Street. When possible, he tries to work with other African Americans to run a strong business.
“There was no way that I was not going to be represented by an African American brokerage company; a black economic coaching team,” said Booker.
Booker emphasized he’s not radical and will do business with people of all races. But he personally knows what other African Americans are up against in the business world.
“I was naïve to thinking that the playing field was equitable and fair.”
Some of the barriers black entrepreneurs face are accessing capital and even accessing data needed to make good business decisions.
“Black entrepreneurs really face a lot of challenges that others simply don’t face,” said Cassi Pittman Claytor, Author of Black Privilege: Modern Middle-Class Blacks with Credentials and Cash to Spend. She’s also Climo Junior Professor of Sociology at Case Western Reserve University.
“The amount of wealth and the wealth disparity make it so that it is going to be extraordinarily difficult for the black community alone to fund and to provide capital.”
Pittman Claytor says her research of middle class African Americans shows they strongly believe in the importance of advancement, not just personally but collectively, too.
“That is a longstanding ideological belief within the black community support black entrepreneurs and black businesses in part because those are the businesses who are located in our communities – who support our communities and serve our needs,” she said.
And here in Cleveland there’s not only a history of blacks working together to build businesses in their community but also an effort to continue the movement today.
LaRese Purnell is managing partner at CLE Consulting firm and also founder of The Real Black Friday, an annual event built around empowering black businesses in the city.
“As a country, small businesses in general are the backbone to our infrastructure and to our economy. When it comes to the black community, it’s important,” said Purnell.
He also talks about the importance of having a place in the city African Americans can call their own. He mentions Little Italy and Asiatown, but notes African Americans don’t have a central hub of businesses.
Purnell asked, “if you think about the African American community, where would you say is our place in this community that you go to and you know it’s a place where people look like you, professionals from all backgrounds are there and have businesses? It really is nonexistent.”
But there’s already work being done to fix that. GlenVillage, part of the city of Cleveland Neighborhood Transformation Initiative, is space that houses seven black-owned businesses along with apartments. A small reiteration of what the original Black Wall Street was all about.
“Kids growing up could see a black doctor, they could see a black hotel owner, they could see someone who was a dentist, an architect – every level you could see yourself,” said Purnell.
Booker added, “study this history. If you don’t know about Black Wall Street, you’ve got to learn about it because it’s going to give you pride.”