Guident financial, a business funding agency recently released results of a survey done on Black businesses this past year and the study shows black entrepreneuralship is quickly on the up and up jumping 400% over the past 12 months!! Regardless of what the news say Black men make up 65% of new owners. Campaigns like “Buy Black” Black lives Matter, the”Woke” movement and yes, even “The Carters!” have opened the eyes of many and encouraged alot to not only support Black businesses but get off the plantation and create them!
But the same challenges our ancestors faced we may still deal with today. Aside from the ongoing gentrification of America ousting Blacks out of their homes many are still denied the programs and proper funding needed to start a business. Even Black women who’re elligable for many programs and grants come up short with not even as much as 10% actually getting them. Many, as in history have resorted to self funding. The most interesting thing I found out about the survey was that out of all the businesses surveyed most of the new businesses were from owners between 30-59. Its not about the new generation anymore, old folks are waking up too!
Heres the link to see the infographic and read the story……… https://www.blackenterprise.com/black-business-ownership-400-year/
You’ve seen me post alot about Self employed Real Estate agent Jay Morrison and his great ideas and strategies on investing in real estate with little to no money. This Tulsa Real estate fund is probably the best idea ANYone has ever come up. With it’s IPO this past Friday, the “Private” company has already raised $7,000,000!!! Shout out to the Tulsa Real Estate Fund, I’ll be pledging soon!!!!
Frederick Douglas Patterson left a teaching position in Kentucky to join his father’s horse and carriage business after his brother died and his father became ill in 1897.
After his father died in 1910 Patterson, who forseen the rise of “horseless carriages” completed his first car in 1915 competing with Henry Ford and priced his cars at $850. He was the first african American to own and operate a car manufacturing company.
Only making 150 he had trouble financing and changed his company to producing trucks & buses rather than to compete. He had success aquiring numerous contracts with school districts.
The great depression took a huge chunk out of Pattersons business. Patterson died in 1932 and his son closed doors in 1939. To date non of his trucks or buses exist but his fathers carriages remains in existence.
Heres an amazing story of perseverance, faith and discipline and how if you work “Smart” and not hard nothings impossible. Meet “Mr. Earl” the man who saved $500K earning $10hr!….