CHARLESTON, S.C. — Four Democrats vying for their party's presidential nomination honed in on the economic concerns of the black community during a forum Saturday in South Carolina, a state where nonwhite voters will play a major role in next year's primary election. Appearing on stage one at a time, Sens. Cory Booker of New Jersey and Elizabeth Warren of Massachusetts, Mayor Pete Buttigieg of South Bend, Indiana, and former Texas Rep. Beto O'Rourke all stressed the need to increase access to capital for black business owners as part of a broader effort to address wealth inequality. Warren expounded on what she's called her tax on "ultra-millionaires," which she says would fund her education proposals, including student debt cancellation for many and additional funding for historically black colleges and universities. "It's about building opportunity," Warren said at the forum sponsored by the Black Economic Alliance, noting that she feels her plan would be met with support even … [Read more...] about Democrats favor more access to capital for black businesses
Black business owners
The fact is, all business owners are entrepreneurs. Maryam Mirnateghi Published 8:30 am CDT, Tuesday, May 7, 2019 Photo: Maskot | Getty Images Photo: Maskot | Getty Images Image 1 of / 1 Caption Close Image 1 of 1 Photo: Maskot | Getty Images Are You a Small Business Owner or an Entrepreneur? 1 / 1 Back to Gallery Welcome to National Small Business Week, an entire week dedicated to celebrating the typically uncelebrated version of the American entrepreneur. Drive through the heart of any downtown in this country and you will pass small business after small business -- laundromats, restaurants, gas stations, clothing stores and more. Small businesses are the glue that … [Read more...] about Are You a Small Business Owner or an Entrepreneur?
Black entrepreneurs have long turned to franchising as a way to launch businesses, build assets, and create jobs where they operate. In recent years, Black franchise owners have used the prototype business model to become owners of franchises including 7-Eleven, Smoothie King, Amago Cleaning Systems, FastSigns, Midas, and the UPS Store to name a few. U.S Census Bureau data showed that 30.8% of franchise businesses in 2012 were owned by minorities, up from 20.5% in 2007. Contrarily, only 18.8% of businesses not franchised were owned by minorities in 2012. The problem is the information was last compiled seven years ago; and new data is now being sought that could potentially help boost the number of franchises owned by blacks, women, and other minority groups. To help make that happen, Rep. Alma S. Adams, (D-NC) is pushing a letter, signed by 57 bipartisan members of Congress, asking the Census Bureau to boost its data collection to improve research on minority and women … [Read more...] about Congressional Effort Underway to Keep Increasing Black Franchise Owners
With the U.S. government reaching its longest shutdown ever, black businesses are among scores of American small businesses feeling the sting. The lingering crisis is impacting business on Main Street to Wall Street. Banking powerhouse JPMorgan Chase estimates that the U.S. economy is losing about $1.5 billion weekly due to the shutdown. The partial government shutdown comes as congressional Democrats, who now make up the majority of the House, refuse to back President Trump’s $ 5.7 billion funding request to build a wall on the U.S.-Mexican border. A Black Small Business Owner Shares His Pain One black small business owner, speaking on condition of anonymity, says the shutdown is hurting his business in many ways. He says with the federal government being his largest customer, his business has lost hundreds of thousands of dollars or 50% of its monthly total revenue since the closure began. Plus, his Detroit-based company has shipped more than $500,000 in goods to the … [Read more...] about The Government Shutdown May Destroy Many Black Businesses and Budding Entrepreneurs
NPR subscribe to Code Switch podcast NPR One Apple Podcasts Google Podcasts Pocket Casts Spotify RSS link 'Barely Treading Water': Why The Shutdown Disproportionately Affects Black Americans Listen · 3:42 3:42 Toggle more options Download Embed Embed <iframe src="https://www.npr.org/player/embed/684432894/685358614" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player"> Facebook Twitter Flipboard Email Enlarge this image The US Capitol in Washington, DC, January 14, 2019, is seen following a snowstorm. Saul Loeb/AFP/Getty Images hide caption toggle caption Saul Loeb/AFP/Getty Images The US Capitol in Washington, DC, January 14, 2019, is seen following a snowstorm. Saul Loeb/AFP/Getty Images As the government shutdown enters its fourth week — becoming the longest in United States history — federal workers around the country are struggling to … [Read more...] about ‘Barely Treading Water’: Why The Shutdown Disproportionately Affects Black Americans