According to a recent study by the W.K. What those figures tell us is that black people have the power to make a much bigger dent in addressing deeper, structural problems such as unemployment and community deterioration. History of the Black Dollar - Kindle edition by Rich, Angel, Redmond, Sharon, Sayles, Brenda, Rockeymoore, Maya. One of the reasons that’s happening is because black people are earning more money. April 2020 13:30 - 15:30.
Such businesses could create the economic and social infrastructure needed to bring jobs and normalcy to communities where many people don’t work a typical day, and where drug dealers provide too much of the examples of entrepreneurship. The reason for both black unemployment and absence of black economic revolution is the lack of black businesses. We have the money. Of course, establishing such a pool will have its challenges, such as finding initial partners and sponsors, and building a groundswell movement to support it. What those figures tell us is that black people have the power to make a much bigger dent in addressing deeper, structural problems such as unemployment and community deterioration. The greatest misconception is that “buying power” means Black people collectively actually have this kind of wealth or economic strength when, in fact, Black people are economically no better off in relationship to the broader economy than was the case … The power of the Black dollar holds significant weight for Black people to be empowered in 2018 and going forward. If they’re not then we must hold them to a higher standard, demanding results. We are younger on average than other ethnic groups in America making us the definers of mainstream culture waving an enormous wand over how Americans spends their money.
Mellody Hobson says Black consumers wield a lot of power. Most businesses in black neighborhoods aren’t black owned. How can this be when we have over a trillion dollars in buying power? The Black Detour is a independent media outlet that advocates for Black people to not only be empowered, but informed on issues in the Black community. Yet in the Black community, a dollar circulates for only 6 hours”.
Census figures analyzed in Nielsen’s 2011 The State of the African-American Consumer report show that more than 8 million black households earned incomes of $25,000 or more per year in 2009. This stems from an overall lack of money available to start them, the lack of consumers who spend money on black-owned businesses and the money spent with black businesses working in partnership with other businesses. Over 60% of the Fortune 500’s minority spending with Asian owned businesses used to be spent with black owned businesses.”During Anderson’s Empowerment Experiment, where her family tried to buy only black for one year, she found out how few black owned businesses existed today. And now, even the president’s relatively modest American Jobs Act remains stalled in Congress.
Samstag, 18. In any case, we need to start embracing the venture capital idea now – because while we know where much of the solution to our problems lie, we can’t depend much on government to help fix it. That’s why I believe the time is right to revisit the idea of building a black venture capital fund. In fact, even if only a quarter of this average monthly contribution can be realized and invested in a fund, the $2 billion would be raised over four years! We have got to stop giving our trillion dollars to those who hate us. If this last presidential election taught us anything it’s that we’re truly on our own. , explains that “a dollar circulates in Asian communities for up to 28 days, in Jewish communities for nearly 20 days, in white communities for 17 days and in Hispanic communities for 7 days. Black Culture Unfiltered.