What is obvious, crystal clear, in Black communities is the small number of Black owned businesses you see. Economically, Black communities are dominated by non-Black businesses (Arabs, Chinese, East Indians, Koreans, etc.); this foreign business monopoly causes a ‘leaky-bucket’.
For example, if you needed water for drinking, cooking, and washing, and you poured it in a bucket full of holes it would all leak out before you could use it – benefit from the water. It is the same with Black dollars, they leak out our communities, not recycled back to create a ‘multiplier effect’ of business expansion, new business development, and jobs.
It is estimated that this year, 2010, Black people will spend about a trillion dollars. Because of a ‘consumer-slave mentality’ and ‘non-entrepreneural outlook’ almost all of the trillion dollar in spending power leaks out of the Black community.
For every dollar of the trillion we spend we’ll keep about 3 pennies, how can 3 cents lead to any type of economic development, it’s impossible, it can’t!! However the other 97 cents tremendously benefits non-Blacks economically; it creates wealth, investments, business expansion, new business development, and jobs for them!!!!!
What Blacks have to face today is a conservative - racist backlash period in America coupled with a global economy where we are becoming more and more economically marginalized. We can expect little or no corporate 'external' economic development to come into our communities, in a period of less and less government aid we should expect little or no economic stimulus from it.
The 3 cents we spend with ourselves represents that only 3 percent of the businesses in America are Black owned. As Blacks we are about 12 percent of the U.S. population, we should have it least 12 percent of the businesses! Indeed, we suffer from economic exploitation and Black business underdevelopment!
The only economic development we can expect is ‘internal’ – what we do for ourselves by plugging up the holes that leak Black dollars through business development intervention: competing, obtaining, and retaining our dollars!!!
No comments:
Post a Comment