Black People : How Do Feel About Taking Business Risks?

Discussion in 'Black People Open Forum' started by KWABENA, Jul 2, 2004.

  1. KWABENA

    KWABENA STAFF STAFF

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    I know a very beloved Sistah who can cook very well, and who does a great job working with kids and helping out the families in the community. She told me that she wants to open up a restaurant, but she is afraid of being robbed, someone trying to burn her restaurant down, or people vandalizing it, and graffiti all over it.

    Brothas-n-Sistahs:

    How do you feel about opening up your own business, given the chances of someone terrorizing it?
     
  2. youngblackceo

    youngblackceo Well-Known Member MEMBER

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    I understand your friend fears going into businesss especially the restuarant business is tuff. The odds are definetly against you and if you factor in all of the other negative things that kind happen to your place of business. Like being robbed and having someone vandalize your building. I would also have some deep reservations about starting the business, but with all of those things to contend with I would still give a shot.

    I don't know what your friend situaition is but if this is a real dream of hers that she has been seriously considering. I would tell her to give it a shot, because you never know. I'm starting a business right know it's no restuarant but I do understand some of your friend fears. I'm not a religous man but I do believe in certain principles and I believe if you have a vision of yourself doing something great than with faith and determination anything is possible.
     
  3. NNQueen

    NNQueen going above and beyond PREMIUM MEMBER

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    Greetings and welcome youngblackceo! :wave: It's nice to have you join us and we hope you enjoy your visits. Feel free to roam around and to explore our features, but some of our more advanced ones are reserved for our Premium Members only! If you like what you see and feel at home, we hope you decide to become a Premum Member. To find out how, just click on the link below in my tag line and follow the instructions.

    Thank you for posting to this thread. You made a lot of sense and we encourage you to continue posting. Again, it's nice to have you here and we look forward to seeing more of you!

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  4. KWABENA

    KWABENA STAFF STAFF

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    Welcome to Destee!

    I am not going to copy NNQueen (who happens to be a very influential woman), but I just want to thank you for joining us here. You will read insightful posts and take a look through interesting threads. Well good luck, and I will look forward to reading more of your threads.

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  5. $$RICH$$

    $$RICH$$ Lyon King Admin. STAFF

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    going into business is a big step and surely if your friend has this dream, she should
    follow it through sometime the risk become a great venture and respect, I have my
    very own business today and surely many fears come with it always wondering when
    the day will come i be vandalize or robbed but my biggest fear was how will my own
    people accept me in the community and support me which i found out the hard way
    not for the dream but reality , that they don't but yet i hold this faith and truely beleive that i can stay afloat and over come the lack of supportfrom my people who
    seem to turn away ! these fears comes with the business but making the dream reality is always been a task in life , all that you speak on is always in the mind of owners and first time starters who are afraid to make that step into the change of
    business ownership with most time their life savings and even loans // grants and
    such on only to be hit and defined as a target .........I wish her all the luck and hope
    she keep that dream alive and do it to show it can be done,we need more blk own
    business to power back into the economy blks need all the :help: we can get in today's living.
     
  6. HODEE

    HODEE Well-Known Member MEMBER

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    It's not safe. But if she keep the hours reasonable for her restaurant, it would work.

    I want to open an all night chicken shack, cooking chicken and fries all night, and passing it thru a :bazooka: bullet proof swinging window for cash to be passed thru and food to be passed out from.

    If you just left the party, or you want to get some food because your appetite is hearty come to my Chicken Shack. LOL

    I believe and know. You can't get ahead because the tax system is written for business. Not for the 9/5 working man or woman.

    Unless you can write off your expenses, of dry cleaning, and your expenses of travel, entertainment and your car, equipment, and gifts to associates and customers. You can't get ahead in the United States.

    Any business of product or services, or a combination of the two is worth the risk. The benefits are tremendous. Get your wholesale license, and file for a business permit and fictitious name. Then get started.

    Every black man and especially black women should have and open a business. There are no guarantees. But immediately you gain benefits you never dreamed of. If you start the business from home. You gain rent or mortgage deductions. Electric utilities deductions. Dry cleaning, entertaining, and lunches, and dinners. Computers and typewriter deductions, even if you had them for years. As soon as you use them in business they become deductable. ( Use common sense, and be fair especially if you don't have the receipt anymore ) ( depreciation is over five years for all equipment used, and that includes that new or used car you bought or your considering buying ) Every customer, and thats your brothers, sisters, cousins, mother and father all potential customers, and they can be given gifts lets say during christmas up to $25.00 and you can deduct that from your taxes.

    You can take trips ( I took one to Hawaii and took my family, because my wife is my partner. I met and conducted business over there with some business partners I set up and met with when I arrived and enjoyed my trip. Thank you fellow tax payer ) as long as you conduct business or discuss business while on the trip.

    Many never take advantage of, opening or starting a business because they are afraid #1 of the IRS. You must be serious, and keep good records. But never fear that group that gets ( theirs ) THE IRS.
     
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