Business

BUSINESS EXCHANGE: Make Black Businesses Matter

Do you feel that the economic state of America’s blacks has received sufficient attention in dialogue leading up to this election? Why is it that blacks just want to shake the hand of wooing political candidates with no mention of engaging our race’s commerce, entrepreneurship and/or free-enterprise? Although African-Americans have been told about how “empowering” our votes are, blacks’ preferences and interests have received scant attention from most of the 2016 field of presidential candidates.

Now that black children in America know they can grow up to be president, black populations need to know and better understand America’s system of capitalism. To ever be taken seriously in America, blacks must move beyond party politics to engage in race-based culture and initiatives that support blacks and their businesses. As African-Americans move beyond coalescing around establishment politicians onto earnestly patronizing black-owned businesses, this could spark discussions and initiatives to revive blacks’ businesses and make them noteworthy.

If we’d stop our preoccupation with howling about white supremacy, blacks can move to be stronger together. Hoping mainstream political parties advance transformative policies that produce economic equality and remedy America’s wealth gap is folly. When blacks realize that black career politicians and liberal elites have not been listening, simple logic dictates they move to start businesses and processes to pool financial resources. Contemporary blacks are circumspect regarding effective participation in the American capitalism system. In our involvement in partisan politics, blacks show high levels of economic dysfunction and are unique in lack of internal commerce.

The most dangerous aspect of American racism is the racism blacks practice against our own interests. It’s time African-Americans examine how and why to support black-owned businesses. Look at the facts — our lack of support for black businesses seems intentional. A poor understanding of capitalism and internal circulation of funds plagues Black communities. When blacks grasp the reality of money circulation, they will understand the reality that a dollar goes into and out of Black communities in just hours. Money circulates six times among Latinos, nine times among Asians and 20 times between whites and among Jews.

In the push for making black lives matter, economic support for black-owned businesses doesn’t get enough dialogue. True, social justice and political activism have solved many of the problems our communities face, but what but economic growth and stability to heal our struggling neighborhoods? There is only so much blacks can expect from government before we stop protesting and start doing our economic part.

Breaking America’s social and political barriers is great, but creating permanent economic solutions is better. Black Americans’ buying power will reach $1.4 trillion by 2019. If more blacks Americans voted with their bucks among ourselves we’d receive more respect for our population and interests. If African-Americans spent more with black-owned and -operated businesses, such acts would create more jobs where we live. Up to a million more jobs can be created if black households spent just $1 of every $10 with African-Americans.

It’s time for more than “good civic works” awards among us. Collectively, blacks are one of the nation’s most powerful and influential consumer demographics. Let’s make a conscious effort to reclaim our dollars’ influence and power. Blacks in America practice capitalism effectively and negate the most promising solution for the growth of American cities and commerce: African-American entrepreneurship. We all make black lives better by strengthening viable opportunities and jobs where we live. Blacks can improve black unemployment rates simply through practices effectively supporting black-owned businesses. Let’s stop boycotting us and employ practices designed to engage our empowerment and economic enrichment.

Business profits leaving our communities hurt our economics. We as black people can never solve our economic woes by sending money out of our communities as fast as we earn it. Black-owned businesses cannot succeed without the help of black populations. Let’s stop being controlled and manipulated. The future of the blacks should count on not what we make others do for us, but on what we do for self. All black lives matter, so let’s make practices and partnerships with black entrepreneurs to make all black lives better.

William Reed is publisher of “Who’s Who in Black Corporate America” and available for projects via Busxchng@his.com.

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William Reed

William Reed is President and Chief Executive Officer of Black Press International. He has been a Media Entrepreneur for over two decades. A well-trained marketing and communications professional, Reed has a national reputation for his expert writing, speaking, organizational, research, management and motivation abilities, along with strong managerial, presentation and sales skills.

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