Business and Finance
We need to make the black economy matter – here’s how
More than 150 years have passed since the legal abolition of slavery and 55 years since the passage of the Civil Rights Act, and yet our economic situation has modified little or no, if in any respect. Once we get past the facades of movements and causes, we must realize that we’re and all the time have been in a state of economic war. Slavery was an economic war; The Civil Rights Movement was an economic war; and today we’re in a state of economic war. Remember that we were allowed to ride in the front of the bus in Birmingham, Alabama due to the economic impact of the Rosa Parks-inspired bus boycott, not due to any newfound sympathy for black people.
While the Black community has many necessary causes to fight for, the state of the Black economy is paramount. All the issues affecting our community, from health care to police brutality to voter suppression and more, revolve around economics. To help take care of these problems, we must prioritize our economy. Here are 4 ways the Black economy can matter.
Buy black
According to CNBC, people of African descent “spent more than $1.4 trillion in 2019, and that number is projected to grow to $1.8 trillion by 2024.” That’s greater than Mexico’s gross national product. However, historically speaking, we spend lower than 5% of that cash in our community. This they need to change if we’re to construct something for our people.
“For the Black economy to matter, we must strengthen our relationships in our community and rebuild our trade zone and, where possible, practice Buy Black,” says Phil Andrews, president Long Island African American Chamber of Commerce.
Own Black
Buying black and why we should purchase black is just the starting. The variety of dollars recycled in our community increases with the ownership of companies in our community. According to Black men in America, the dollar circulates for 30 days in the Asian community, 20 days in the Jewish community, and 17 days in the white community, but just for six hours in the black community. To change this, we need to do greater than just buy from Black-owned businesses. We need to have distribution points, manufacturing plants and provide chains. This is how you construct strong communities.
Sell yourself
We are so used to working for others that we do not know how to promote ourselves. “If you do not advance, why should anyone else? In my experience, a few of the most talented people of color I do know are afraid to promote themselves. No one will recognize our worth if we do not show it to them,” says Daron K. Roberts, founding director, Center for Leadership and Innovation in Sports, University of Texas at Austin. People buy into you before they buy your services or products, especially whenever you’re just starting out. We also need to stop running our business as if we were working for another person. We need to know our worth to ourselves.
Save for the next generation
We have to reinvent the wheel every generation because we aren’t constructing for the next generation. As a result, we now have difficulty constructing wealth, which hinders our ability to repay it in the future. “The real test for all new advocates of Black economic awareness will be their ability to maintain consistency and discipline. We must find a way to maintain commitment to investing, upskilling, supporting and maintaining the intention to build Black wealth together both online and in-store,” says Daniella Bien-aime, lead online content developer at Bien-Aime Post.
Making the Black economy matter can’t be a fad. This have to be a mission. While money is not every part, it’s a vital a part of the fabric of a community. We need to invest together in our communities so we are able to construct wealth and pay it forward. I respect people like Earl Graves who built and maintained successful businesses after which passed them on to their children. We need more of them.
When you’re taking the first letter of every point, you’ll write BOSS. Whether we work full-time or part-time, we need to take control of our economic future before another person does. Yes, Black lives should matter. But if we’re to truly rebuild our communities, we must make sure the Black economy matters.
BLACK ENTERPRISES.
Business and Finance
David Shands and Donni Wiggins host the “My First Million” conference at ATL
December is the birth month of David Shands and Donnie Wiggins, friends and business partners. Most people have fun by throwing a celebration. Others imagine it must be catered for. The chosen ones spend the day relaxing in peace and quiet.
Then there’s Shands and Wiggins.
The two decided that the best birthday gift can be to offer individuals with resources for generational wealth through a conference called “My first million”in Atlanta.
It’s a compromise between how their families and family members need to honor them and their desire to proceed to serve others. Shands acknowledges that almost all people won’t understand, and he unapologetically doesn’t expect them to.
“It’s not up to us to convince anyone why we do what we do,” admits Shands.
“I think everyone does what they do for different reasons, and I would just attribute it to a sense of accomplishment that I can’t explain to anyone else.”
He doesn’t need to clarify this to Wiggins because she understands his feelings. Wiggins has had a passion for serving others for so long as she will be able to remember.
“When I was in middle school, there were child sponsorship ads on TV featuring children from third world countries. I was earning money at the time and I asked my mother to send money,” she says BLACK ENTERPRISES.
She recalls how sad she felt for youngsters living in a world with so many opportunities, but at the same time going hungry. Her mother allowed her to send money, and in return she received letters informing her of their progress.
“It was very real to me,” Wiggins says, now admitting she’s undecided the letters were authentic. “I received a letter from the child I sponsored, a photograph and some updates throughout the 12 months. It was such a sense of being overwhelmed and it was something I felt so good about. I didn’t even tell my friends I used to be doing it.”
She carried this sense throughout her life, even when she lost every little thing, including her house, cars, and money. She still found ways to serve and give back, which is the basis of her friendship with Shands.
They each love seeing people at the peak of their potential, and that is what “My First Million” is all about. There can be no higher birthday gift for them than helping others create generational wealth.
What to expect during the “My First Million” conference.
They each built successful seven-figure empires, then train others, write books about it, and launch an acclaimed podcast Social proof.
Now they’re imparting that knowledge through the My First Million conference, an event for aspiring and existing entrepreneurs. Shands and Wiggins need to prove that being profitable is feasible and encourage people to bet on themselves.
“David and I, on paper, are not two people who should have made millions of dollars. Number one, we want (people) to see it,” Wiggins says. “Then we want them to actually get out of that room with practical and actionable steps.”
Both are clear: this just isn’t a motivational conference. This is a conference where people, irrespective of where they’re of their journey, will come away with clarity about their business and what they must be doing as CEOs. Shands and Wiggins want individuals who do not have a transparent marketing strategy or are considering starting a business to also attend the meeting.
“A few areas we will cover are inspiration, information, plan and partnership,” adds Shands. “We will give you 1-2-3 steps because some people get depressed and uninspired. Even if they know what to do, they won’t leave, go home and do it. So we have to really put something into their heads and hearts that they come away with.”
Sign up and enroll for My First Million Here. The conference will happen on December 13 this 12 months. but Shands and Wiggins say it definitely won’t be the last for those who miss it.
Business and Finance
Operation HOPE on the occasion of the 10th annual world forum
Operation HOPE Inc. takes over Atlanta for the biggest game in the country dedicated to financial literacy and economic empowerment, Saporta reports.
The HOPE Global Forums (HGF) Annual Meeting 2024 strengthens the crucial link between financial education, innovation and community upliftment in hopes of finding solutions to the problems that stifle challenges around the world.
Organized by Operation HOPE founder John Hope Bryant, together with co-chairs Atlanta Mayor Andre Dickens and U.S. Ambassador Andrew Young, the forums, to be held December Sep 11 at the Signia Hotel, will have fun its 10th anniversary with three days of engagement discussions, observations and forward-looking presentations.
Under the theme “The Future,” Hope Bryant says attendees are looking forward to a “powerful moment in history.”
“Over the past decade, we’ve brought together great minds with daring ideas, servant leaders with voices for change, and other people committed to a brand new vision of the world as we realize it. “‘The Future’ is a clear call to action for leaders to help ensure prosperity in every corner of society,” he said.
The extensive program includes influential and well-known speakers who address business, philanthropy, government and civil society. Confirmed speakers include White House correspondent Francesca Chambers, media specialist Van Jones and BET Media Group president and CEO Scott M. Mills.
“John Hope Bryant and his team have been doing this for ten years, and every year HGF raises the bar,” Young said. “Discussions about the FUTURE are important not only for civil dialogue; they are also essential to bridging the economic divide and solving some of today’s most important problems.”
Atlanta is predicted to welcome greater than 5,200 delegates representing greater than 40 countries.
“I have long said that Atlanta is a group project, and through our partnership with HOPE Global Forums, we are inviting the world to join the conversation,” Dickens mentioned. “From home ownership and entrepreneurship to youth engagement and financial education, HGF will offer bold and innovative ideas to ensure a bright future for all.”
It coincided with the organization’s annual meeting launched one other path to enhance financial knowledge with HOPE scholarships. With three tiers of scholarships – HOPE Lite, HOPE Classic and HOPE Silver – clients could have access to free financial coaching and academic resources.
Business and Finance
New Orleans’ black business district is marked by history
New Orleans has given a historic monument to a Black business district closed for interstate construction.
The marker was a project fulfilled by in response to the initiative of Plessy and Ferguson. Founded by descendants of men involved within the Plessy v. Ferguson case that legalized segregation within the United States, the organization worked with other community groups to put a marker under the Claiborne Viaduct.
Before the upheaval, Black New Orleanians could find stores owned by other members of their community on Claiborne Avenue. Racial discrimination originally limited the power to buy on the famous Canal Street. Given this, blacks as an alternative flocked to the realm to purchase every little thing from groceries to funeral arrangements.
This mall was home to many Black-owned businesses, and emerging and established entrepreneurs had arrange shop for generations. Consisting of pharmacies, theaters, studios and more, it helped maintain a vibrant black culture in the realm. It reigned because the most important street of Black New Orleans from the 1830s to the Seventies.
The street once featured a picturesque cover of oak trees surrounding bustling businesses. However, its decline began with the expansion of roads within the southern state. The first casualty was the oak trees that were cut all the way down to make way for the development of Interstate 10, and shortly thereafter, the district’s thriving entrepreneurs suffered an identical fate.
Many residents do not forget that they didn’t know in regards to the upcoming investment until the trees began falling. Raynard Sanders, a historian and executive director of the Claiborne Avenue History Project, remembered the “devastation” felt by the community.
“It was devastation for those of us who were here,” Sanders told the news outlet. “I was walking to school and they were cutting down oak trees. We had no warning.”
Despite its eventual decline, the district stays an integral a part of Black New Orleans entrepreneurship. Now the town will physically resemble a historic center where Black business owners could thrive. They celebrated the revealing of the statue in true New Orleans style with a second line that danced down Claiborne Avenue.
“The significance of this sign is to commemorate the businesses, beautiful trees and beautiful people that thrived in this area before the bridge was built, and to save the people who still stand proud and gather under the bridge,” also said Keith Plessy, a descendant of Homer Plessy’ ego.
The growth of local black businesses continues. Patrons and owners alike hope to evoke the spirit of Claiborne’s original entrepreneurs, empowering the community.
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