Sunday, August 11, 2013

What's Your Take?

African Americans make up 13% of the US population, yet own only 5% of all US firms and only 1.8% of companies that employ more than one person according to a Small Business Administration report.   More than half of African American-owned businesses had less than $10,000 in business receipts in 2002, compared with one-third of White-owned firms and 28.8 percent of Asian-owned firms.
 
Why do you think African American owned businesses are struggling even though African American buying power is projected to reach 1 Trillion dollars by 2015? Do you support Black owned businesses? What percentage of your hard earned money is spent in Black owned businesses?




Comments

1. Kevin said...

All businesses are struggling,not just Black business. This less about color and more about quality of service or product.Too often we don't add up.

2. curious said...

Why does it matter? I do not ask who owns a business, If they have what I want I get it.My only obligation is to get the best quality at the best price.

3. Dr. Etuka Obinwa said...

The continuation of slavery in a modern century.

4. RobertBrown said...

A lot of factors affect Black business especially in this economy when expendable income is non existent for most.The real question is why Whites don't support our businesses and we have no problem supporting all ethnic groups.Integration allowed Whites to receive our money and then keep it in their community.We are so happy to be able to eat ,sleep ,work and play with Whites that we have abandoned our own

5. Big Tuna said...

We are our own worst enemy. Why should expect a crossover when we don't support our own. And once Whites start to patronize a Black establishment,we begin to show up

6. Jay said...

Because we are crabs in a barrel.

7. Kevin J said...

There are many reasons small and Black businesses struggle including the inability to access capital.Traditional. banks will not fund them forcing businesses to live on a shoestring or either secure a high interest loan from the secondary market.

8. Dean said...

Many Black businesses are not worthy of my patronage. And if you are honest,you would agree



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