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Diversity in Business

The LGBT Economy Is America’s Future

Photo: Courtesy of Mercedes Mehling

Money talks.And now, more than ever, public and private sector leaders are listening to the collective voice of the LGBT community.

We have fought hard to secure our rights in the name of equality, but our true equity and ability to bring about change for our community lies in our economic power. 

That was the impetus for the formation of the National LGBT Chamber of Commerce nearly 20 years ago. With an estimated 1.4 million LGBT business owners behind us, we have seen the LGBT community earn its place at the table of economic opportunity. The current total economic contribution of LGBT-owned businesses to the U.S. economy is estimated at over $1.7 trillion.

How LGBT business is different

LGBT entrepreneurs start businesses that last longer than the national average and are committed to hiring greater numbers of LGBT and other diverse employees while ensuring their own supply chains are as inclusive as possible. Business leaders in our community continually redefine industries and shatter stereotypes. From multimillion-dollar construction firms to local restaurants and retail shops, we are proving every day that if you buy it, an LGBT-owned business can supply it.

Make it count

When it’s your turn to shop, quickly research that the company is an LGBT-inclusive corporation or an NGLCC Certified LGBT Business Enterprise. It has never been easier to go online or check with your local LGBT chamber of commerce to make sure you support the brands that have our community’s back. If you are an LGBT business owner and not yet certified, you are leaving opportunities on the table to help your business and to be counted as part of the LGBT global economy. You could join our ranks as a role model, job creator and future LGBT business success story.

Use the LGBT community’s trillion-dollar clout to make a difference. Support your community when you shop, seek out LGBT-owned businesses when you invest and procure and stand with those who stand with us.

The LGBT community is an economic force to be reckoned with — and every one of us plays a part in it.

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