Rise of the Black Entrepreneur

[PRMom]

The following article was written a few years ago by a researcher who makes some very interesting observations about the current economic status of the black community and the impact of black entrepreneurs.   I was surprised to learn that blacks between the age of 24 and 35 are 50% more likely to become entrepreneurs than whites of the same age.  Read on and let's talk about some of the assertions made by Anthony Bradley in this piece. If we take these stats seriously what are we called to do?
 
The Rise of the Black Entrepreneur: A new force for economic and moral leadership
by Anthony B. Bradley, Research Fellow

Over the last two decades, black entrepreneurs have done more to improve the economic situation for “the black community” than any black pastor or politician. These entrepreneurs are taking the risks and building the businesses that create economic growth and prosperity. This is in stark contrast to the efforts of the Congressional Black Caucus, which has done little to encourage entrepreneurs and has limited its efforts to securing increased funding for feckless programs that harm African Americans. Sadly, many politically inclined black pastors are stuck in the rhetoric of the 1960s (and even the 1980s for that matter) speaking about need for coercive affirmative action programs and lamenting the diminished economic status of African Americans.

Since the 1960s—and even more rapidly since the 1980s—the social and economic situation for African Americans has dramatically changed. For example, most black people in America do not attend church regularly, contrary to popular perceptions. Recent data from the Barna Research Group indicate that black Americans attend church at a rate similar to that of whites. Currently, 43% of black people attend church on a given Sunday compared with 42% percent of whites. Moreover, according to Barna’s research, 21% of blacks are completely un-churched compared with 32% of whites. Perhaps there is more equality in American than we think … and that may not be for the better.

Despite the misperceptions disseminated about African Americans by TV and Hollywood movies, most blacks are actually members of the middle class. Furthermore, most blacks do not live in America’s inner city neighborhoods; instead, nearly 40% of blacks live in the suburbs. The percentage of adult African Americans holding college degrees is 17% as compared with 20% of adult Americans overall. And it is a surprise for many to learn that, according to research done by the Kaufman Foundation, blacks between the ages of 24-35 are 50% more likely than whites to engage in entrepreneurial activities. In other words, the most active group of entrepreneurs in American is black men and women. This reality, still waiting to be grasped by leaders in both political parties, is producing a new and welcome leadership paradigm in the black community.
This new reality leads one to ask an important question, especially as it relates to politics: Why is there no significant black leadership in either of our main political parties? One answer, and I think the correct one, is that leaders in both parties are tapping into political “dry wells”. The future of black political leadership does not lie with the black pastor and his local political machine, oiled with government dollars. The locus of black political leadership is shifting away from the traditional black pastor and to the black entrepreneur. This reality arises from a simple fact—while we may live in nation where a majority does not attend church, blacks and whites alike, we do live in a nation where everyone participates in the market as a producer or a consumer.
 What politics has failed to do in raising up diverse national leadership, the marketplace has done with amazing success. America’s best kept secret is that many blacks are well-off and hold critical positions in America’s largest corporations—companies like Merrill Lynch, American Express, AOL Time Warner, Citigroup, Verizon, United Parcel Service, General Electric, Morgan Stanley, to name only a few. The marketplace promotes and rewards based on competence, performance, and results.

Historically, it was the role played by the black church with its pastoral/political leadership that produced significant gains for African Americans. Black pastors acquired significant access and leverage in government and business, serving as the conduit through which opportunities flowed. Such an arrangement today, however, is not necessary, as blacks hold key positions in business and government themselves. This is not to say that with this shift in leadership black pastors no longer have a role to play in addressing key issues—they certainly do.

The marketplace still needs the moral leadership provided by religious leaders. However, these days most people are capable of understanding that the economic improvement of the “black community” is directly dependent on the economic improvement of all Americans. As such, the strategies and rhetoric of past eras need to be cast aside in favor of the new order of leadership offered by black entrepreneurs.
 

Anthony B. Bradley is a research fellow at the Acton Institute.

[wareschanel]

Thanks for posting this...It was very informative!

Chanel
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 "The Fortune is in the Follow-UP"

[elsphit]

thank you so much i leand alot!!

[spottv]

Thank you for your inspiration. In these economic times we all have to have multiple streams of income. I have a promotions company where we produce promotional videos, commercials and document events. We also use it as a means to promote black businesses. In addition I am also a beauty advisior with Dudley cosmetics. This allows me to promote beauty, have cosmetics on hand and help empower others to become advisors as well. my sites: http://www.spot-tv.com dudley site http://www.vjones.dudleycosmetics.com for less than $150.00 you are provide with a full package to get your business started. If you already have a cosmetic licence, you can actually join for $25.00 Again thank you for this opportunity to network with others! V

[SilverSister]

Wonderful post.  Sorry I haven't been here in the group for a while but I have been super busy with my Silpada business and creating another business in addition to creating a social network.  I invite all of you to join here.

Michelle

 

 

 

[DreamMommy]

I believe that this is the Year of the Entrepreneur.  AA's in this country will continue to be successful business owners and will lead the way for urban & rural economic development.  I am proud to live in a time when so many sister's and brother's are living their dreams!