Black Money Business Jobs : HOW DID WE LOSE BLACK OWNED BUSINESSES?

Blacks are challenged to buy from Black-owned businesses to close gap

CHICAGO — Should black people go out of their way to patronize black-owned business?

"Maggie Anderson says they should. In 2008, with the economy in the middle of the worst downturn since the 1930s, Ms. Anderson enlisted her husband and two daughters in a yearlong plan to consume goods and services exclusively from black-owned businesses. The journey became a basis for her 2012 book, “Our Black Year,” the subject of several TED talks about how to increase wealth in the African-American community, and the narrative behind a current cross-country tour aimed at spreading her gospel.

Blacks spend less money in black-owned businesses than other racial and ethnic groups spend in businesses owned by members of their groups, including Hispanics and Asians. A report by Nielsen and Essence estimates that black buying power will reach $1.3 trillion in the next few years, yet only a tiny fraction of that money is spent at black-owned businesses. Unless black people devote more attention to building wealth within the black community, Ms. Anderson and others contend, they will always be behind."

The next time someone here asks the question what can Black people do to uplift their communities which includes themselves . . . here you go, one prime example! You don't have to be a college graduate, politician, lawyer or doctor . . . just a consumer.
 
The point is that there is credible data that shows a steep decline in black-owned businesses--particularly as it relates to small to moderate sized businesses that we see in our communities.

The problem is, that we tend to limit the niche of our businesses such that we don't generate a diverse customer base. We need to broaden our products and increase capacity of sales among a diverse customer base.

We need to pool resources like the Chinese and Koreans do to grab market share of certain products and be better able to compete and run them out of our communities and/or we move into theirs. They are selling hair and beauty products to Black people because they studied the market and see that's what we spend a lot of money on.

Now how are Arabs better able to come into the Black community and sell fried chicken and fried fish? And we form lines in their businesses and can't wait to buy from them. It's so packed with sodium that many of us that suffer from hypertension if going to eat their food should do it while driving directly to ER. Sad!

But I digress . . . :bye:
 
Unlike other races & cultures who come to America, establish political power bases, cultural assistance groups, buy blocks of real estate for investment & future residency for others of their race or culture to reside in without difficulty blacks don't do that, blacks start up niche market enterprises that mainstream society has no use for. Even blacks are not willing to travel a fair distance to buy black when the same items they seek are closer to them at nonblack businesses. Most open market black enterprises still struggle because they're competing with established White businesses protected by cronyism & other unsavory tactics that guarantee favor to the old guard. New York City is a prime example, many small black owned construction firms were struggling like red headed step children for the lucrative contract bids for the city's capitol improvement projects. David Dinkins was the city's very first mayor to shift the bids to favor minority construction firms. Black business owners cannot accomplish these endeavors alone, you need blacks in every aspect of the upper tier component to guarantee some manner of success. As far as I know there is no other way.



You are incorrect. Blacks have always done it. We have always been attacked when doing so. You obviously are not aware of our history. Perhaps you should familiarize yourself with it 1st




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