What is Cashblack?

About Cashblack

Cashblack is a platform that rewards members with cashback when they shop online with Black-owned businesses. Users register with us, browse for products and services from Black-owned retailers, and when they make a purchase, they receive cashback from the affiliate commissions we receive. They can withdraw the cashback for themselves or donate it to one of our affiliated goodwill causes where we match the donations.

Founded in 2020, the need for financial and socio-economic empowerment within the Black community was never more apparent — both globally and in the United Kingdom. Cashblack aims to benefit both the Black community and society as a whole by decreasing the racial wealth gap through the promotion of Black-owned businesses and the provision of funds back to consumers via cashback.

How Did Cashblack Start?

Cashblack was founded by Matthew, Jonathan, and Nicholas Addai – three brothers from St. Albans, Hertfordshire who came up with the idea in 2020. During that summer's global anti-racism movement, it became clear to the wider population that there was a direct correlation between socioeconomic issues faced by Black people throughout the world and the lack of support for Black-owned businesses.

We felt that a way to address these issues would be to incentivize patronage in Black-owned businesses and have the Black-owned businesses reinvest back into consumers.

"How about a cashback website?" we thought.

"A cashback website — for Black-owned businesses."

"Why don't we call it – 'CASHBLACK'?"

And what started off as a play on words is now our platform for supporting your support of Black-owned businesses.

Why Is It Important to Support Black-Owned Businesses?

Socio-economic issues and the lack of support for Black-owned businesses are directly correlated. Many issues that impact the Black community — and thus society as a whole — stem from socio-economic disparities. We believe that meaningful change can come through economic empowerment and conscious consumerism.

Social Impact

Underrepresentation

Black professionals remain severely underrepresented in leadership roles across UK institutions. Increasing visibility and success of Black entrepreneurs helps shift perceptions and inspires future generations.

62%

White males on boards

Actual Black business founders

White males make up 62% of boards and occupy 83.8% of executive directorship while male BAMEs 6% and female BAMEs 3.8%. (The DiversityQ FTSE 100 Board Diversity Report, 2020) Over a 16-year period, nearly 30% of the UK Black population had thought about starting a business, nearly twice the level of non-ethnic groups. Yet only 3% followed through. (Federation Small Businesses, 2020)

Crime

Supporting Black entrepreneurship provides legitimate pathways for talent that might otherwise be pushed toward informal or illegal economies due to systemic barriers. Stable employment reduces recidivism and builds safer communities.

More likely to be arrested

12%

Of prison population

Black people are over 3 times as likely to be arrested as white people. In 2019, there were 32 arrests per 1,000 Black people vs. 10 per 1,000 White people. (ONS, 2020) While Black people account for just 3% of the UK population, they make up 12% of people in prison. (The Lammy Review, 2018)

Racial Disharmony

When Black businesses thrive, stereotypes are challenged and inclusive narratives emerge. Economic success fosters respect and breaks down prejudice in schools, workplaces, and media.

95%

Witnessed racism at school

70%

Faced workplace harassment

95% of young Black people have witnessed racist language at school. (YMCA, 2020) 70% of ethnic minority workers reported racial harassment at work in the last five years. (Trade Union Congress, 2019)

Economic Impact

Racial Wealth Gap

The racial wealth gap persists due to generational inequity in asset ownership, wages, and access to capital. Supporting Black businesses closes this gap by creating income, building assets, and enabling intergenerational wealth transfer.

£3.2B

Lost annually in wages

£24K

Median wealth: Black African

Black, Asian and ethnic minority employees lose £3.2bn yearly in wages compared to white colleagues doing the same work. (The Resolution Foundation, 2018) The median Black African household was worth £24,000 vs. £282,000 for a white British household. (ONS, 2020)

Unemployment

High unemployment among Black communities stems from structural barriers. Black-owned businesses create jobs tailored to their communities, reducing dependency on systems that often exclude them.

Black unemployment rate

2.5x

More likely to be unemployed (graduates)

In the UK, 8% of Black people are unemployed – the highest rate of all ethnic groups – twice that of white people at 4%. (ONS, 2021) Black, Asian and ethnic minority graduates are 2.5x more likely to be unemployed than white peers. (Trade Union Congress, 2016)

The Economy

Black-owned businesses contribute significantly to local economies and innovation. When supported, they increase domestic activity, boost exports, and strengthen national resilience — especially amid economic uncertainty like Brexit.

14.4%

More likely to be denied loans

2.12%

Higher interest rates on overdrafts

Black-owned businesses were 14.4% more likely to be rejected for long-term loans. (Warwick Business School, 2012) Even with an overdraft, interest rates were 2.12 percentage points higher than for White-owned businesses. (Warwick Business School, 2012) Ethnic minority business owners were more likely to export than non-EMB owners in every region. (FSB, 2020)

Our Mission

We believe that Cashblack uniquely satisfies the demands of our time:

People want “cash” — as shown by rising interest in investing, trading, and financial security post-pandemic.
People want to support the “Black” community — proven by global anti-racism movements, corporate DEI initiatives, and public demand for equity.

More than just a name, “Cashblack” represents a powerful fusion of financial reward and social responsibility. We're committed to making real change — one purchase at a time.