Why Black-Owned Businesses Don’t Survive
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- čas přidán 2. 02. 2021
- It can be difficult for any business to succeed, but Black entrepreneurs have historically faced unique challenges. Despite, buy-black campaigns, grants, and other resources, 8 out of 10 Black-owned businesses fail within the first 18 months. So why do Black entrepreneurs continue to lag behind whites and other minority groups in terms of market share, and what will it take to keep them in business?
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Why Black-Owned Businesses Don’t Survive
I’m not gonna support a black business just because they’re black owned. I’ll support any business if I like their products.
No one cares. White business are scrwing yall everyday
I’m black and I agree we a have given our black women the power over black men and most black women like Material things just like every other woman so they base there storefront options something that’s not really good ... just because I’m black does not mean I go too every shop to get my my hair cut are Food
@@ThinkBusiness247 What does white anything have to do with my comment? Please speak facts and truth, not skin color.
they made this to keep our eyes away from the GameStop stock story
I agree, however if you have extra income, l would say make black owned businesses a priority just, Jewish and Indian people retain money within their society through this method
I am a black business owner and what I am about to say is my own opinion. While I have found it difficult to find funding for my current and past businesses this problem has many layers. One layer comes from the corporate banking and financial side which is in need of reform. Another layer is business education. If your product doesn't fit your market or vise versa then you will have a problem staying open. If your marketing only targets a specific group of people who only buy from you once or twice, then you will have a problem. Another layer for me is support from other black people or lack thereof. YES, I said it. How can we ask others to support us when our own people don't! I also don't want anyone to buy from my company just because I'm black, that is pandering and is not sustainable for the long term. I want customers to buy from me because I have an awesome product, service, and experience no one else can provide. ALSO! No bandwagoning because people feel bad, we don't need pity. In short, your business needs to solve a problem someone has and you need to be able to fill that need that someone else can't or at least do it better than your closest competitor. While I'm not denying there have been problems with race in this country, as a black man and business owner, I'm tired of everything being about race. We need to move past that, focus on real-world education (and not the education the rich and powerful want you to have), and decent values to really move forward.
BrandoMotion, this is a great comment, I'm suprised it doesn't get more attention. 👍🏼
Truth Indeed AMEN
@BrandoMotion you made some good points about Black businesses. But I’m hoping that more Black owned online businesses will help to level the playing field for more Black entrepreneurs.
Also more of our people, especially in the younger generation are starting to realize that only earning an expensive college education and degree is not a guarantee for financial independence. Entrepreneurship is a skill that is valuable regardless of the level of education and career choice.
I'm glad that you have problems because I don't want black people to succeed
Yes. The push to support black owned businesses is a temporary solution meant to highlight the disparity in the marketplace. But like any social issue awareness campaign, simply pointing out the problem and telling people to shop black owned businesses isn’t enough. As you mentioned, need to reform banking/financing, but also level the playing field in terms of entrepreneurial skills: digital marketing, business accounting, market research, design thinking, etc. When I attended a free workshop on digital marketing 101 in NYC, which was attended by folks from all walks of life (gender, age, education, socioeconomic, race, etc), many attendees did not understand the concept of unique value proposition nor could they explain how their product or service differed from their competitors. That was a huge red flag.
Considering we’ve failed to teach basic financial literacy to most American children, let alone to children of color. Considering social capital is a huge factor in individual success outcomes. Considering mentorship matters and we are the sum of the people we surround ourselves, yet some people are stuck in impoverished communities where business knowledge may be scarce. It’s really hard to expect any business to succeed if they don’t have the fundamentals.
I wish public schools focused more on practical skills and I wish more cities offered free basic business seminars and workshops like NYC’s Small Business Administration. It’s by no means perfect but at least it’s a starting point. Ultimately, we may also need to provide more small business grants so business owners can pay to learn these things to fill in knowledge gaps
When people get used to preferential treatment, being treated equal feels like discrimination
Equal treatment is equal. Not to the detriment of one or the other.
Truest comment yet!
-Thomas Sowell?
@@heezy8178 Preferential treatment is NEVER necessary, and results in further division and resentment.
@@BxChef.207 Yep...I also prefer that an iconic quote be attributed to its source.
I would like to see a Black-owned bank that assists Black entrepreneurs and homebuyers and see how that goes.
+
So you are saying that you think there should be businesses that only cater to a particular race? What could go wrong?
They will not!
That would be called a racist bank.
Hahhaha good luck if you’re gonna be paid back
The reason why I don’t go into black owned businesses is because I have no idea which ones are black owned. I just go to places that sell stuff I want
That bit of common sense is straight up racist today, expect to be censured soon.🇨🇳
Those people will still call you racist for not searching for black owned stores lmao
Idk it probably be easier if was different cultures from Africa or other places with black people. Like Ethiopian food or Jamaican food but a Black Americans usually has very similar cultures to Other Americans who don't have strong Immigrant culture. It's easy to find a Mexican owned restaurant or Chinese owned but black is hard unless it has something like Ethiopian in the restaurant name
@ric Gikonyo Idk but y’all been around longer than other minorities. East Asians have other businesses beside selling wigs and skin care. They’re just good with business in general. The one that open businesses around black neighborhood are not rich, just enough to make a living. The well off East Asians are operating their businesses elsewhere definitely not in black neighborhoods. In conclusion, idk why black ppl stay mad at them bc if y’all ain’t gonna do it, other minorities will. 🤷🏼♀️
@@chicanopowers4938 no it isn't,That comment was straight up nonsense
Do you think people just go to a store and ask "is this owned by a black person?"
Exactly
no the issue is black owners even getting to the point where they have a functioning business. The loan discrimination etc. that is described
They will make a tag for that soon, kinda "blue checkmark" on twitter.
I think yelp already make some label.
@@sn5301679 ????
tbh who cares
After reading several of these reviews it is clear most feel the same, we go to a business based on service not the color of the owners skin. It is sad that NBC is pushing this narrative that it’s everybody’s fault that Black Owned businesses fail.
Black people are very highly represented in sports and entertainment. Even in politics they are represented more than other minorities.
Blacks make up less than15% of the population but some how we have to have more representation and help them all out in a disproportionate way? It doesn't add up.
And that is the problem with reference to Black Consumers, rarely will you witness a Jew shopping with a black owned business nor a Chinese, Japanese, or a white American.
Well, many of them have been told from an early age that all the problems and shortcomings they face are someone else's fault; entitlement and lack of responsibility run strong with them.
YOU HAVE BEEN BRAINWASHED. IT IS VIRTUALLY IMPOSSIBLE TO GET THE BLIND TO SEE!
The very end of this video has someone basically saying, "Give us free money!"
Even if the so-called white America give African America everything em got is not yet enough African America where enslaved to America for economic Propose
@@tonythomas7244 - you do realize that that's one of the most ridiculous ideas ever, right? Not a single black person alive today was enslaved to any white person alive today.
There are tons and TONS of white people who are decended from those who immigrated in the early 1900's. Long LONG after slavery was abolished in the civil war. These white people had ZERO involvement in slavery which means that anyone descended from them have no ancestors that owned slaves.
Yet you believe that all white people "owe" all the black people everything? Get outta here with that nonsense.
@@tonythomas7244 we had a 2 term black president what's your excuse
It's insulting to infantilize a race of people like this.
This !
You got that right. Most black people I know can't stand this nonsense. Yet it goes on and on. Divide and conquer. That's what the media is about. Not telling the "news".
@James Gray You wrote this under the impression that they care to read things that don’t stroke their biases
It's because the media companies that produce these videos have no diversity in their workforce. Like absolute trash of a video. Inciting segregation.
@James Gray this isn't 1965 you victims
I am an African American business owner, but at the end of the day, I'm one of millions of businesses and I have to be competitive. The true enemy is foreign imports and corporations that get lots of grants and loan opportunities.
I'm thriving in this pandemic without a loan, no government help, no handouts. I started with only $700 and I was homeless. Now I'm getting closer to becoming a surety bonder. The American Dream is not dead.
You have to make your own version of the American Dream.
Good
Good for you, I respect values, character, and work ethic and not the color of someone skin.
@James Gray Well I'm not waiting. Not every business had financial backing. A lot of that is messed up, but it has a lot to do with the environment. If you can't find a way, then make one.
@James Gray white people who grew up in a poor culture have the same problems with getting a loan. It is a poor vs rich issue.
do you need employees. are you hiring. 🇺🇸
I understand the historical reasons and they do make sense. However, I will support small businesses, but I just won't support a business entirely based on race. Also many black owned businesses cater to primarily black clientele.
Yes cause they're black. They be looking out for they kind just as whites do.
Very sane ...I like the way u think as I do the same way.
Because a lot of times black business are aimed at black clients. This is why black hair businesses mostly have black ppl products
No they don't stop lying
@@BluePixelvideos ok except maybe for hair and even those place deal with non black textures...but try going into supercuts or sports clips with black ppl hair and see if even deal with you. So that's a nesscesary one. But other things like grocery stores and restaurants that are black owned are for everyone.
I’m a black business owner and I provide great service, but my major issues come from other black people trying to destroy my business when they don’t respect my policies. People think I am supposed to be cheaper, they try to haggle me, not want to pay and when I take them to court slander me. I have people of all colors get jealous of the environment I create, it’s upscale. My own people think I am supposed to help them, and if I help them that’s cutting into my business profit. They try to count my dollars and how I am getting paid by insurance, and question everything when I put a lot of time into services. I am met with a lot of violent behaviors over jealousy due to race and gender.
Yup. A black Veterinarian told me his very similar experience.
@@jameshepburn4631I’m not surprised. It’s not even being twice as better it’s more than that and no respect. I’ll get compliments in person, I ask for a review I get silence, scoffed at but they try to use me. I’ve seen experienced black people not take my interviews seriously to work in a plantation under a white man.
"violent behaviors"? Got any examples?
I’m baffled they left the comment section on 😂😂😂
Me tool. Normally they would shut this sh!t down. Maybe they haven't realized what they did.
I agree, good gracious
Otherwise people would vote with their likes/dislikes. In fact, you can see it here.
I know right, exactly my thoughts
Unless your name badge says “owner” , I never know who owns the business. Nor do I really care.
I bet your name isn't Karen.
What is the most surprising thing is , after everything thats happened and is still happening, you still can't ask people to care about others plights and how their veiws affect a whole swath of people. But the lack of care and consideration for each others plights is literally how we got to the covid thing getting so bad. What will it take? I know yall would prefer we all die and go away...
Translation: I don't care about the economic advancement of my historically disadvantaged black countrymen.
@@Thesandchief Translation of your biased translation: If you don't give black people money it must be because you are racist.
To which I say you either completely misunderstood the original author or chose to add in a level of racism yourself. Shouldn't the goal be to not be biased or affected by race in the first place? To see people as individuals instead of by the color of their skin? I guess not according to your view point.
@@jakepeters5225 it's about making sure banks and other financial institutions treat everyone fairly. i don't care where people choose to spend their money
I've never seen a black owned business.....I don't think they exist except in the news
This is just harrasment at this point. STOP HARRASING ME ABOUT BLACK OWNER businessmen! I DON'T CARE! SELL ME A GOOD PRODUCT AND I'LL BUY IT, DON'T CARE IF YOU'RE GREEN! 🤬
Facts
I'll support any business as long as the products are good
Not if they are black -- said no one
Duh!
Do you have Comcast?
Do you utility company have go service?
Have you ever bought a warranty/protection plan and didn't get what you expected?
Also how would I know the business owner’s race?
If the business has things you want but it hates your race, shop elsewhere.
They will only spend the money on bullets and crack anyway.
I support a business by their product or service, not the owner's color of skin. Free market.
And 9/10 all the products and services are by white name brand companies. You missed the whole point of the video
CNBC would call that wrong-thinking
You THINK that's what you do, and that it's a free market. lol there's no such thing as a free market.
@@tro2561 99% of the businesses I walk into and I dont even know who the owner is. Really tough to be racist to a business.
*free market exist*
Blackminist: "black mostly suffer"
Personally, I have and will go out of my way to avoid any businesses announcing their establishment by their race. That includes 'black owned businesses'. Why, because I personally don't think race should be a factor in commerce. I don't see other racial group employing same tactics - Asian owned, White owned... So, if a 'black owned business' want to single out black customers (which makes up less than 14% of national ethnic group), then they should also be prepared to fall by their racial front. Conduct business based on merit. If you have something good to sell, they don't need to sell with racial sympathy.
When I see something like that, it seems almost like an "you owe us for what you did to us" sign board.
I completely agree.. Unless nobody has a problem with a white owned business sign and people only choosing to go to that shop because its white owned
I even stopped saying Woman Owned Business. I realized that my business is about providing a high quality product for an affordable price not what my gender is. I don't want anyone to pity purchase from my business lol. Someone may even purchase from you one time to feel like they are supporting minority owned businesses, but they won't be a repeat customer unless you sell them a quality product or service.
That is a really good point I completely agree.
As a middle eastern person my family moved to America from Germany because in Europe there is still real racism in place that can truly make it very hard for certain minorities to get ahead but America is the best nation on earth for that problem. America is one of the only nations that literally any human being regardless of their race gender or sexual identity or religion you have a proper chance at success if you only work hard enough or are smart enough. But you have to work hard or be smart. Life doesn’t just hand out anything usually those who work the hardest get rewarded but in America anyone can get ahead. Of course you can still encounter racism in America again being middle eastern my group of people are more judged than black people so I am well aware but any black or Arab man can get ahead in America if they put in the work and are PATIENT too many of us want instant gratification these days People just expect results immediately without putting the work in. And most human beings are naturally lazy.
"Its cuz Im black, isnt it."
CNBC: Yes
Usually, yes. Thanks for pointing it out.
Because prejudice created by racism. USA is not merit based.
This mindset is what keeps blacks poor
@@CB-ob5fr its the afro american culture. people that migrate from africa to the US do it alot better on school & jobs.
@@mentos93 Of course they do; do you know how much money it takes to immigrate from Nigeria to Baltimore, they these immigrants are already rich.
I'm definitely not the only one who went straight to the comments...
I did too, and your comment was the first one I saw 😆
I didn't get passed the first ad because I paused it to come to comments. 😀
I went right to the comments
I'd rather read the comments instead of watch CNBC's garbage video.
Nope! 😂😂😂
As a creole black person myself, i can say there are some set backs, yes...but it's absolutely not that black and white. As a person who sees foreign blacks come here and rapidly grow its proof that MENTALITY plays a bigger part.
Outside of that, there are BIGGER reasons why black businesses don't last in modern times compared to other race groups, that black people/black business owners REFUSE to admit.
SO whatever you wanna say to delute urself to REALITY, go head and believe whatever makes you feel better. But EVERYONE knows why African American business largely fail. I notice Creole businesses have been thriving since slavery era. So don't think ethnic businesses aren't thriving... Mentality is a hell of a thing.
And ...let's stop acting like TODAY'S African American and today's black business remotely compare to yesteryears black business. We are nothing like our ancestors as I'm sure they are turning in their graves at the ball we've repeatedly dropped on the sacrifice of their backs.
It's shameful. And the gaslighting and VICTIM MENTALITY doesnt make it any better for evolving. No other race group needs handouts or other systems giving them a easy pass. We shouldn't either. Just THINK BETTER.
One of the most difficult ventures anyone can overtake is business ownership.
I think part of the problem is also that a lot of black businesses are very niche. They only reach out to other black people and in the process they alienate a large portion of their potential client base. Behind the scenes, they tend to also bias other black business owners. I've known several who refused to diversify because they "are a unique business," or they "they don't do it like that," partially in reference to white business models. I get that they want to set themselves apart and create a unique business identity, but limiting their prospects isn't the way to do it. Isn't just racism towards them; it's also their own racism keeping them from branching out.
Yes. The next logical step is acquire a mainstream food service restaurant if you are successful. We don't dream big.
I haven’t even watched the full video, but I have to say that the first issue is that no business should use race as a selling point and or target a particular race other than for cultural purposes like food, grocery stores, etc. your business will have a much better chance to survive if it’s for everyone! Don’t pigeon hole yourself!
Exactly! I agree!
Exactly! I never say I am a black owned business. And most of my customers are white and Hispanic.
yeah agreed its really a horrible way to do business...
I find that these black owned business tend to just serve fellow Black people, and discriminate against non blacks.
@@silentraven4582 Thats not true. We serve other races of people all over Georgia in our businesses.
I'm asian. I worked for a black-owned business and served the black community. I quit in 4 months because I was treated like scum that i've never experienced before.
I also did business with a black-owner/operated business. They treated me, the customer, like a clown, in a way that I've never been treated before.
I will never work for a black-owner, nor patronize a black-operated business. Its not because of their race.
Really? I'm sorry you had to endure this.
Black people just aren’t business savvy people. Would I shop in black owned businesses……the answer is no.
When my family came to this country form Vietnam we live beneath the property line for many years we live better now still relatively poor , but we keep on trucking , I have never in my life heard my parents complain ever not once , still great full for the opportunities that this country offered us , God bless America 🇺🇸. From the bottom of my heart.
Congrats!
is it just me or does it seem more racist, having to label your business by the race of it owner?
It’s just you. You can’t fix a problem by trying to deny that it exists.
@@favorites673 and fighting discrimination with more discrimination has been a great strategy.
@@Dustinwhy8 nobody is denying the black owned business from serving others based on skin color or demographics or zipcode, so your point is well asinine.
@@Dustinwhy8 its ironic that CNBC is (supposedly) made up of Republican leaning/conservative backed supporters since its a business/economics themed channel....however the moment CNBC makes a pivot away from that safe space of talking about just success stories and puff pieces, the likes begin to flip into dislikes...that's how you know they are telling the truth and you and others cannot stomach it 🤢. Historical Facts and Data that your too lazy to verify (as if you were planning to anyways) be dammed.
@@edhooper1421 I think you’ve got a bit of tunnel vision mate. Focus on racism if that makes you feel better...but you sound bitter with life. I’m not white btw. Ouch...a minority not obsessed with hating white ppl. #plot_twist😂
I'm sure the rioting in many urban areas didn't help black business either.
EXACTLY
The irony of BLM riots. They destroyed the black community more than they helped, probably.
Hey now wait a minute. You must be racist. Lol
No it didn't help, just like the rioting at the Capitol didn't overturn the election, vanity, vanity, vanity!!!
Unlike the riots in the 90's, the capital destruction were not in mostly low income businesses areas. They were in places that like the Grove, with chains and monopolies. Also, of course, police hq's
THIS is the problem with society today. Blame everything else for an individual’s circumstance instead of the individual themselves. Where’s the accountability anymore? I’ve been treated horribly when in a black owned business. Not gonna say this is true for all of them, but it has been with my experiences. And also getting harassed - as in excessively hit on. Improve your customer service then things will change
Exactly as if someone owes them .
You nailed it 100%.
Yes. Clearly all racism ended when Obama was elected president.
Well, in 2020 mine got destroyed by looters and so-called peaceful protesters chanting "black lives matter". Apparently, mine didn't.
There was a black owned BBQ shack down the street from my job. I went there twice. Both times everyone in the place glared at me like I was Satan himself walking through the door, and said as little as they could to complete the transaction. The only reason I tried them a second time was to see if it was any better. The food was fantastic. But upon comparing my box to what a black coworker got, it was aparrent that they heavily shorted my box. I can only assume they treated all their non-black customers the same way, because it closed about 5 months later. And this was years ago, so not a covid closure.
I've had the same experience numerous times. Certainly not all but many black businesses let you know whites aren't welcome. But a black guy managed white owned pizza place I worked at and it was best place I ever worked at.
I noticed the exact same thing, I went to a soul food place with a friend who is black and I received half of the food that he did.
Good! Close them all
fakiirification what is the point of your story? You do realize that black people have had similar experiences in white owned establishments?
@@theblacksheep5226 name the black owned businesses where you felt discriminated against. Otherwise, what you claim to have experienced did not happen.
I dont understand the concept of a business categorised by the colour of its owners, a business survives based on the level of service or product it offers.
Because if you categorize a business based on the level of service it offers and the colour of its owners, you see a consistent pattern.
Tell that to Black Wall Street...
In America this is false. I have seen countless times a white person change their mind about a product, a restaurant, or a service because they found out the server or owner was a minority.
@@rrsharizam correlation does not equal causation
Are you a black business owner? How would you know what it takes for a black business to survive if you’re not a black business owner?
I went to a black owned business once and felt like I was not wanted there. I was about to work out of there when one of the barbers asked me if I wanted a haircut. Until that point not an employee of this place greeted me. I felt out of place and while cutting my hair the barber was more interested in the black lady sitting there than taking care of me. I paid my money n left and never went back. I am not white but a minority.
To successfully operate a business requires hard work - discipline - luck - a desire to succeed. The market eat you up if you make to many mistakes.
If you ever hear “support” and “my business” .... then you don’t own a business, you own an expensive liability hobby.....
I don’t “support” my electricians business, I NEED his business! 🤷🏾♂️
Agreed
@Jay
Except you still haven't criticize the video empirically. You just shout-it rhetorically which is pretty naive.
See a need....fill a need.....
@@dancalmpeaceful3903 🤔😏😳
well said
Why does the woman at the end say it is everybody's responsibility to support black owned businesses? That doesn't make sense to me, seriously. Seriously.
@Viet Boy I didn't really care, but now that people say "you must support black business" I just flip up my middle finger.
@Viet Boy just like i wont eat Vietnamese food or support their businesses....Viet Boy✌
I like the way you look out for one another! Popcorn is ready. Greetz from Europe :)
What doesn't make sense. Everybody means if you want to. Nobody is forcing you. SMH
@@Srbog1 “No one is forcing you” except you are called racist for not picking a crappy store with a black owner and instead choose an actual good store with a white owner
A lot of black owned businesses just simply aren't on par with others that are not a lot of the time. The service is usually sub-par, they're often very disorganized and unprofessional, or the product is not as good as you'd expect...and black owned businesses often overcharge. Most of my experiences with black owned businesses has been trash, tbh.
I agree. That’s why I would never give my hard earned dollars to black businesses because they don’t know how to do business
Most small business owners pay their workers very cheap and overwork them with no benefits, the owners will often pocket most of the profits anyway. Just my two cents
As a black man, I have to say that this video is extremely wrong.
Exactly, it's just simplistic and resumes a problem that's wider than just "racism" to race baiting low quality journalism. It's irresponsible journalism and it only hurts more than inform people of the event in question.
It’s cnbc look at where they stood with GameStop and the hedge funds, they’re trash.
This is your opinion. State it as it is and not because you are black.
What's wrong about it?
Explain what’s wrong black man?
Why is everything just about racism
Blame Democrats & MSM
It called identity politics. Create White guilt and for what. Remember when race wasn’t important in the 2000’s?
Because democrats need ALL of you to live in fear.
@@krabes8613 race wasn't important? Huh? Racism has always existed, it's just now being exposed
because this country was built on it and still perpetuates it. systemic racism is still an issue.
People go to any place that’s welcoming and has good products and pricing.
Also my experience and observation Are that black workers in black owned businesses treat non black customers differently, Not all but a majority. It’s difficult for customers to return when they don’t feel welcome no matter who owns the place.
Most of the times, they treat Black customers bad or worse. The only Black businesses I have been to and got treated well was in Chef Judy’s establishments and Marley’s in Fayetteville, NC. I support them because they stay positive and their staff is happy. They are extremely welcoming to EVERYONE!
@Arlene Augusta Hair thanks for the comment, when I'm in the area i will check the out. From a Glacier glider.
I dont understand why people keep saying." Support small black businesses" if there were commercials saying Support small White businesses. People would scream racism...
This all comes down to culture from my anecdotal experiences.
My closest friend for over two decades...
We both worked at the same job for the same pay. He took girls out in his Cadillac that he bought (financed) rims and a stereo system. He had gold jewelry. I drove an 86 CRX. He updated his car a Mercedes, me to a 95 civic. He always had the nicest clothes, but rented apartments and at times lived with him mom. I saved my money to put down on my first home. He always had plans for his next paycheck while I'm having plans for my next home. He destroyed his credit over and over, payment plans on this and that... did you you could RENT rims? Yeah, rent'n'roll. So over 20 years later, he rents a room from his mother, and I have six rentals, a decent home, and an outstanding long term portfolio. The only, ONLY difference was how we spent our money, not opportunities, or what we started with other than our influences.
what i like about your story is that it doesn't mention race at all. Do you know why? Because it does not matter to you. It was not important information and so you left it out. That guy you talk about was an idiot. That was the point of your story.
@@wakkosick6525 You are correct about it not being important to me. I find way more diversity within a race or culture than between them. I don't want to excuse him, but in my opinion it was his other friends' influences, and short term thinking that had him arrive to his current position in life. The big question in my mind, is how can we change that?
@@jaysen472 There are better things you can spend your time and energy on. Don't change his mind. Sometimes you can't help people. You just have to leave them where you found them and keep moving forward. It sucks. I understand your desire to help but if its not going to achieve anything then do something that will. You can't fix everything but that doesn't mean you can't do something.
You are Right but it's easier and more exceptable to call you a racist . That's the problem.
If you ain’t rentin’ 24’s, you ain’t black 🤣
Nobody mentioning how the thumbnail is extremely ironic? Black people having to protect their livelihood from "black-empowerment"?
THANK YOU
Shhh you can’t point out the obvious 😂😂
Obama gave everyone money Jews, Native Americans, gays, besides black people who did he not give money to bigot?
@@SunnyandNova Ah, cuz everybody who disagrees with you is indeed a bigot, right?
@@SunnyandNova why do people need to give you money?
This goes out to all the businesses out there that has thought about closing doors and are probably wondering if there will be a successful tomorrow. With Noone bailing you out I hope for nothing but success and happy future for you and everyone else. Keeping you all in my prayers.
Depends on the business. Business and client relationship is supposed to be symbiotic. If the business is abusive, no one will do business with them. If clients are abusive, the business will have a hard time keeping their workers. Then there's the fact that business owners are even abusive to their own staff.
If any of these three situations happen for an extended amount of time, it'll be a matter of time before things boil over and the business fails.
Or it could be the *lack of customer service,* or the *outrageous prices,* or the *lack of business plan* being put together, or the willingness to expand and try different things in order to bring more traffic in, or the lack of taking financial advice to help propel their business to the next level
It's not that cut and dry folks
I support any business; regardless of race and ethnicity
Posted it again, since some of y'all mad by the truth
Did you watch the video at all?? And how did you come to these conclusions about black businesses
You are right in the money! Took the words right out of my mouth. Here in Inglewood, CA. A few black businesses that I've rather liked have gone under and what they all had in common was poor direction, no motivation to grow and to support customer service. They ran almost like a free for all with no order or little order and poor response to customer service concerns.
@@___zeke___7581 What does a loan have to do with a race vs a good business plan? Everybody has bills and everybody wants to make money. When you ask for a loan you have to provide proof of a plan or have assets. Skin tone plays in role in a huge way but not because of racism but credit history and assets.
@@___zeke___7581 i actually did and i work small business owners so I'm speaking from experience.
@@___zeke___7581 "And how did you come to these conclusions about black businesses" She came to that conclusion about failed businesses.
Growing up in Atlanta I felt discriminated going into a black business, so I avoided it. If you have a business and you treat potential customers as "What are you doing here?!"....well they won't come back. This is MY experiance. I am sure other people have had similar experiance going into other businesses own by other groups of people. My advise to anyone that wants to succed in the business world is treat every customer like a person and value their business so that they bring you more customers.
People don't want to hear the truth.
They'll dab up the man who's gunna rob em tho then scold the paying customer.
Amen, I also prefer to use service and goods from a place that provides good customer service and I feel comfortable. It is not up to the customer to save the business it's up to the business. If you do not take responsibility for your own success and failure you will never succeed anyway.
that is just one business,so lets say you went to Mcdonalds and someone spat at your fries ,are you gonna say all white businesses stink?and that you will never buy anything from a businesses with a white owner,look if that happened to you don't go back to the SPECIFIC shop however stop generalizing black businesses as if they all do the same thing
@@heezy8178 I get what you are saying. But do realize that is not what I am saying. If that happened to me I wouldn't be eating out for a while period. Our actions matter.
@@silveriogarcia2431 okay fair point...i like how u didnt attack me,..most people put hereare stating that black people are privileged ,I even heard a person say this isn't the 60s anymore lol...but yeah,some black people have terrible businesses but not all
So I’m supposed to spend my hard earned money on a business just because they are black?
@Daniel Pettigrew They could. Or they could not I can’t speak on every black person
@Daniel Pettigrew no
No, unlike laws that enforced racism no one is forcing you to spend your money anywhere.
So sorry you feel victimized.
@@devnerdgirl4638 what law enforces racism?
Them : support our businesses
*plate of food $25
Me : 👁👄👁
I remember when anti chinese riot in indonesia 1998, there are stores which put up a sign like that, written muslim owned store, just so the store not looted. But actually they were owned by the chinese,
Ah, ah😂 Good one.
LMAO
I remember it well. I was in North Sumatra near Medan and was lucky to get on a Garuda Airlines plane over to Kuala Lumpur Malaysia before rioting closed the Medan airport. It reminded me of the anti-Chinese rioting in Malaysia some years before. Pure economic jealousy. The overseas Chinese (hua chao) work harder, longer, and smarter than the non-Chinese in general.
I have so many real African American friends whom immigrated from Africa,they work so hard every day just like me and they are all successes. Your attitude and your behavior makes you succeed not your skin color . Black American need to think differently and change.
Such a dated argument....
@@nooshoff dated ??? So 2+2 is not 4 anymore?
That’s not African American. If they know where they’re from in Africa, they’re their nationality + American. Like Nigerian American or Ethiopian American.
@@eatsomeredvelvet5090 no, if they immigrated, why put American in their name? They are Nigerian or Ethiopian, unless they get their citizenship (even then, it's usually their children that will hyphenate). It's only PC people who call a Nigerian an African American.
Agreed 100%, when I visited Ghana, it was so obvious who was a black American and who was Ghanian. A lot came down to presentation (Africans are very well dressed).
I went to a black owned outdoor BBQ place in Florida. The owner/cook was very cold to me. I guess we were out of place. We smiled and were polite, at the end he kinda warmed up - a little - gave us a half smile after we left a good tip. Maybe next time he will be more welcoming to someone not the same color.
The black businesses app map sounds more like something a KKK member would create. 🤣
Kind of a double edge sword if you ask me.
Black person here. I support a business based on the quality of their goods and/or services. Not skin color.
@James Gray ""Content of character , not color of skin " wrong is wrong
@James Gray it's not the 50's anymore. I see black people as CEOs and stuff now. The civil rights movement worked great. Maybe not as fast as people want but it's working. Forcing it to move faster only stalls the movement.
Same
Thank for the support. From one black person to another. SMH
@@Srbog1 The *TRUTH* has no color , from one human being to another , wrong is wrong .
How long ''til comments are turned off?
Edit: I made a super long comment reply to someone, read that if you somehow think I implied being bothered by the video.
Haven’t seen anyone offended yet. It’s only 3:40 here on the east coast. Most of the unemployed leftists probably haven’t even woke up yet
Why? Afraid of the truth?
Lol
They already deleted a comment I made
@@trstmeimadctr me too!!
This is why I run a mobile service business. I drive out to my clients to perform the work. A store front just wasn't stable to me.
I've gave up I just had a black lady curse me out and gave me a nasty bitter outburst in front of my friends because she thought I hated black women when really it was a misunderstanding and for about 10 years I've had a black empowerment youtube channel. I just never thought it would get that serious.
I ain't finna be taking that kinda stuff in and be fine with it so I deleted that channel and just go worry about me and my own future for now own even tho I'll miss sharing content with my subscribers and viewers. All my past and my current girlfriends was and are still all african btw except my 2nd who was spanish white lookin but I was a teenager back then.
Their statements are both accurate and misleading.
They say things like “more blacks are refused loans” and just move on... no explanation given. They just hope in your mind you connect it to racism without having to actually explain how it is. The power of suggestion is strong.
It is racism. They do they same thing over here in the UK. Most of my black male friends have tried getting loans and got rejected so they gave up on their business.
As a black women, I saved the money myself and invested in both of my businesses. No debt 😄
@@Perfeccionista89 Or maybe it's that black people generally have fewer assets to serve as collateral and are more likely to default on loans due to socioeconomic factors.
They also consider things like your life/medical insurance so that even if you die they still get their money back, and unfortunately black people tend to have no/worse policies and no wealthy parents/family that can stand in for their payments should they be unable to pay back the loan.
Banks want money, they don't care if they're making it from black or white people. And that is why they will always discriminate based on your financial status.
@@cronchcrunch If only that was true. I am speaking from wealth. Most of my business owner friends are black, wealthy and can't get loans. I don't know any poor person trying to get a loan. Some people get loans whether they have money or they don't. I've seen this with other races.
@@cronchcrunch I believe you are only speaking about Americans.
@@Perfeccionista89 I love your story of perseverance.
But not getting a loan and being black is not the same thing as not getting a loan because you’re black.
The video failed to prove black people fail to get loans because they are black.
I was once turned down for a loan myself. Perfectly capable of paying it back too but it was a personal loan and the bank deemed it too risky. I was young and didn’t have much collateral. It’s not that I didn’t get the loan because of my age but I was young and declined a loan.
My business is the first and only black business in a 99.9% white small city. I have seen it all. I have only seen 2 black customers since 2016. Bills are hicked, vandalism happening in real time, theft, injustice, tenants not paying, evictions taking over 6 months. I have done 6 years and I am not giving up because it has made me stronger.
Yes, because the first thing people ask when they walk into a store is “what color is the owners skin”. this BS has got to stop, this race baiting and victimization is getting out of control, I went to business school, a business fails because of mismanagement or because they are not catering to the consumers need, nothing more, this kind of nonsense really upsets me.
Who cares what color the owner is, usually value, convienence and loyalty retain a customer from my eyes
I buy basically everything online now sooo. i might be a black business supporter? i dont know , as long as the stuff arrives im good
You can actually select to buy from black owned business now in some e-commerce platforms
It shouldn't matter what the race of the person is. I'm interested in the product and if the person doesn't align with my beliefs at an extreme or they are criminals
@@ivandrol4733 and that's pure racism
@@adriannaszymanska2029 black people dont get it, tons of asians, latinos, and arabs go down under with hard work to start a business. meanwhile black people expect for them to buy black owned business over other hardworking minorites.
Last i checked bezos was white as a hebrev.
why do americans gotta involve race in everything??? you're literally obsessed with it
Which country are you from? There may be abused minorities in your own country but you may be blind to their suffering
I'm sick of it too.
Are actually watching the video. Because race is being targeted. Wow
then you don’t know America’s history or you didn’t watch the beginning of the video
@That Guy “Latinos for trump! Blacks for trump! “
Only the left my ass
I don't understand how anybody can play the victim in the US. I'm first generation born and have taken care of business. My siblings and I are all successful and own our own homes. I don't understand how someone who's been here more than 2 generations can fail in the US. If your not lazy and have drive you can do anything here regardless of skin color. The only person holding you back is you!!!
good, your family didnt suffer from slavery in America
@@richardb2837 If I were you I'd pick up a history book you really believe America is the only country who had slaves? Maybe some history will teach you that there have been more white slaves than black slaves......just in case I'm not white so miss me with that crap.
When I saw the like to dislike ratio I knew the comment section was going to be fun :)))
7:04 So any hispanic here who cringed at "latinx"?
edit: also most Latinos identify themselves by their nationality, heck I would say (by porcentage) Latinos are more patriotic (to their own countries) than Americans! (that said the Americans who are patriotic to the US, you guys rock)
and thats because people BORN on the US (leftist) seem to see the US in a negative light and try to pander to Latinos as a way to show their discontent with America or nationalism but the problem is: MOST LATINOS LOVE AMERICA! (or are nationalist to their own countries at bare minimum)
so the term "latinx" is just stupid
Yeah, I hate the term "latinx".
@@AbcAbc-sp1od
Basically you're a triggered SJW.
Jesus Christ! Ignore it.
In primer vez, te que causa tienes para tiene odio por ese terma?
@@whathell6t estas serio? Preguntale al Open Link. El lo dijo. Tambien, no soy sjw. La idea de decir "latinx" es suya, no es la mia.
@@AbcAbc-sp1od
Todovia no has respondido a mi pregrunta.
@@whathell6t no nos gusta esa terma porque los sjw blancos la hizo. Nosotros no la hicimos!
Its just business, nothing personal.
Nothing personal, kid
Top 10 comments I ever read
yea pulling that card is easy to hide racism , the numbers dont lie what ur saying is that it justifies it
@@lilblackfish2009 BREAKING: free market makes manchild butthurt!
@@lilblackfish2009 Grow up. It's called free market, whoever makes the best product gets the attention.
It’s about getting access to funding and venture capitalists. Black businesses are heavily scrutinized and often left out of funding opportunities. This has nothing to do with patronizing a business. There is heavy discrimination in funding and it has nothing to do with being a victim.
My quick summary on how ANYBODY can have a successful business:
1) If you wish to develop a product, create a problem solving solution that serves the needs of others. For service, decide who you want to help and how you can help them.
2) To avoid debt early on bootstrap. Start from the very bottom and work your way up. Invest profits back into the business. Diversify your portfolio and use at least the first 5 (or more) years to focus solely on developing systems which will grow the business.
3) Always seek ways to improve the quality of your products/service and expand your reach. Everyday...period!
4) Service is what will ALWAYS differentiate. The customer may not always be right, but your job is to make them feel as if they are, that way they become repetitive and loyal customers. Listening to the customer is key, they tell you and show you exactly what they want.
5) Read everyday! Leaders are readers and as a responsibility to your employees, customers and yourself, it is absolutely necessary that you continue to educate yourself.
6) Treat everyone as equal, mostly yourself. By labeling your business as black-owned, you are essentially excluding yourself from larger markets. As long as numbers 1-5 stay your focus, your customers will come in droves with fistfuls of green cash, which is the only color that truly matters in business.
Reasons why any business fails.
CNBC: The cards are stacked against you!
Economics: You didn't sell more than you spent.
Not totally true but I get the point you are trying to make
ever heard of something called uhm.. ✨nuance✨?
those are not mutually exclusive.
he lair re us.
Maybe pouring mass funds into businesses just because the owner is black is not a good idea.
You clearly missed the plot. African-american businesses that are QUALIFIED should have access to loans and investment, but they are not getting funding. That's part of the problem
@@onlyscams this is fake news
@@COLMECTIGAMINGANDMORE Based on real science. Sorry you’re triggered 🤷🏾♂️
@@OpiumBride What a disingenuous question. Anyone who has applied for a business loan in a bank or pitched investors knows you have to physically show up and also show ID, names, zip codes etc. All of that is easily identifying information that will expose the fact that you’re black. Dumb response
@@onlyscams That's not to say borrowing and lending is a bad economic practice that should be avoided by anyone.
LBJ did a number on the Black Community, Business' and Family Structures, when he came out with his Great Society. If you wanted to ruin progress in that Community, the great Society was perfect.
Omg
These comments aren’t matching what was talked about in the video. From what I gleaned, the video was about why Black businesses have a harder time staying afloat and the historical and systemic reasons as to why.
They stay making us look like victims like wtf
Thank you!!! We are their perpetual tools. Always infantilized. Always needing a handout because we are👏🏾 just👏🏾so👏🏾freaking 👏🏾helpless. So frustrating😠
Please tell them to stop. You can get it if you want it.
@@bekesir12 how do u expect me to tell them bruh...
@@my-1903 hahahahahahahhahahaha
Yeah, I am tired of all this crap too...
Being a black person in America, I hate how they make it seem like my race is a handicap, I’m black, not helpless. Maybe if these black owned businesses learned to focus more on providing goods and services that are continuously needed by the general public instead of trying to make the business race based, they would get more business from a wider range of people.
I wish more thought like you.
You obviously suffer form internalized racism or you're not really black. either way no one cares what you have to say so please keep your hate speech to yourself
Well said
I...don’t understand this comment
@@g4meboy13 Backhanded comments like these are so annoying🤦🏿♂️
Because their own people steals. 😂
"Hey big dog, you mind hooking me up this one time until payday. I swears Imma pay you back when I get my welfare check."
I used to get my haircut by a black barber. I turned up one day and saw a sign saying back in 15 minutes.......I waited half an hour then left when he didn't show. I came back the next day and asked where he was. He said "I had to pick up my son". I now go to a turkish barber.
imagine running a non-profitable business and blaming the banks and gov't
Imagine that. You are so right.
I don't like it that the MSM keeps blaming something that happens 100, 200 years ago. A failing black owned business, today, is no where the same as a failing black owned business 100 years ago. They should be looking at improving their business plan and/or their operation.
That is actually closer to the truth, than you think. There are businesses, that can be massively profitable, but currently lack cash flow, due to their field get denied loans (because different fields have different risks, which banks must take into consideration), and thus are forced to either declare bankruptcy in the end, or seek alternative sources of money, which make's them loss generators. In my experience, the field is the key here. Try and get a loan for a couple of laptops, few chairs, desks and a server. You'll have easy time, because accounting is considered safe field. Try something like that with a cafe or some capital intense field like fuel delivery... Good luck getting a loan.
By that logic nobody should start a business then because there's already an established and profitable version of it somewhere else.
Y’all lost me at “Latinx”
Lmfaooooo
For real!
Yeah i feel pretty strongly that latinos dont like to be grouped together whit blacks. European/european+indian blood is a bit difrent than west african.
The only time we're gonna use that term is to make fun of it, Mexico couldn't care less about people's opinion on gender when there's bigger problems to deal with
Why are y’all so pressed about this term? To me Latinx represents taking back heritage as our native tongue, “Nahuatl”, X is a very common sound. Maybe this only applies to Mexico (Mexica people) descendants, but I still don’t understand the outrage over the term
A lot of the problem is that black people often lack trust in each-other and there’s valid grounds for that when someone thinks that sharing the same skin-tone means they have a right to gossip about whatever medical records they fall privy to but shouldn’t (for-example). It’s a problem in every race and community but I do feel like black people have had their trust abused by people who use that surface-familiarity for malicious intent and that’s kind of why a lot of black people prefer to deal with whites and Asians for those purposes (greater chance of discretion and confidentiality being adhered to). It’s a shame but until these issues get talked about properly there’s going to be an element of unfortunate mistrust in the slight majority of cases and of-course it shouldn’t be like that. And I will say that black people who use mutual skin-tone to be cruelly-unprofessional make the millions of honest, trustworthy black people out there look bad so you can see the unfairness in some people’s actions making black people lack trust in each-other when it’s just a bad minority who betray the trust on the basis of vague cultural familiarity. At the end of the day you want to have trust in the person for who they are, not their skin-colour, but a handful of black people who live and breathe mutual familiarity to the point of gossipy contempt don’t make it easy to trust.
Some people just want to be clients who come and go in peace. There’s a big difference between polite conversation geared in the hope of finding out if you share more cultural binding than just skin-colour and being obtrusively over-familiar with them to the point where you use it as an excuse to get dirt on them it and indirectly involve them in your drama just because you think their mutual blackness means you have full access to them and everything about them.
I stopped watching after 3:41 because of numerous errors. For example, the Freedmen’s Bureau was not explained correctly and it never contained anything about “40 acres and a mule”. “40 acres and mule” was from Shermans Special Field Order 15, which was declared illegal. Greenwood in Tulsa was not called Black Wall Street until a 1980’s documentary about the Tulsa riots. In addition, Greenwood was not prosperous and was actually a slum where most people lived in poverty without indoor plumbing. There weren’t any banks in Greenwood, let alone any investment firms or a stock exchange. I just couldn’t watch anything with so many errors in such a short time.
Everything you said is completely inaccurate. Try again.
CNBC: Still woefully out of touch with reality.
Around the 10 minute mark, they perfectly outline the concept of learned helplessness but refused to call it out
Wait are you serious? I can't tell if you watched this video at all. More black businesses don't apply because it costs money and time to apply and they get rejected anyway. There's literally studies on this. They talk about similar businesses being denied, etc. This whole video is LITERALLY about how and why they can't get loans due to things like lack of assets. When you have a 300k house, its easier to get a loan than when you live in public housing. Goddamn...do people have brains anymore?
I know the CZcams audience is right wing but oh lord look at the like-dislike ratio
@@dn-dk2ei I don't see what his "opinion" has to do with him being right wing. You're just judging something from out of your head. I was about to agree with you on some points but that last phrase is completely out of place, like, what are you on about?
@@RenegadeShepard69 and of course instead of replying and apologizing, they edited/hid it away after being called out
@@dn-dk2ei I'm not sure you understand what "learned helplessness" means. It means exactly what you've stated: they don't apply because they feel it's not going to succeed.
@@dn-dk2ei there are a lot of problems to face but they are exaggerated in this video. There are many underlying issues within every business and grouping all black businesses together and saying they all have " " problem does not help, it only separates and divides. Many problems are not addressed that have a great impact but unfortunatly I cannot bring any of them up without being labeled, here's three to think about. Businesses in food/ hospitality are extremely volatile. Businesses in lockdown areas (more Democrat) are more susceptible to shut down. Many black-owned businesses are in their own neighborhoods to try to improve them but the neighborhoods are high crime/ high risk in some cases and more likely to be shut down. Everyone in the country wants to help I promise you but whenever the "Because I'm Black" statements start people want to help less. If you ask for help I will help you, but if you say you need help because I'm racist you've lost me.
You can thank Fentanyl Floyd for this. The great thing about this is we have the power to decide where we want to spend our money.
90% of restaurants close down within a year of opening, 99. 9 % of cereal brands go bankrupted.
It a competitive world out there.
Business succeeds: " we just have a good product, y'all don't know how to do business "
Business fails: " It's mostly historically race related and systemically driven. We need redistributing of funding "
Ya love to see it
Is anyone buying this? If you replace black and white, with someone under 30 and someone over 60, we would see a very similar type of video. One poorer, one richer. One has no access to credit, the other has credit.
I think the point they are trying to make is, black businesses were affected because the majority of their businesses, are in vulnerable sectors. Were stay at Home orders negate any success, with that said no one is to blame that those are the sectors they concentrate on.
Yooo your profile pic!! I remember that guy lmaooooo😆😆😁😆😁😁😁🤣🤣🤣🤣🤣🤣🤣
Clearly access to credit is the issue here. But don't you think there are more reasons why it might be fair for older people to have better access to credit in general than there are for a white person to have better access to credit? Even if we should do something to help young people access credit, I don't see why that would change whether we should do something to help black people access credit.
One of the problems here is the legacy of economic disadvantage that black people in America have inherited. If starting a business is a route out of that but the disadvantage prevents them from getting credit that would enable that then is it ever going to change? The issue is not simple e.g. it's not that people just need to stop being racist (not to say that racism doesn't still exist and have an impact). The statistics clearly show that there is a difference between black owned and white owned businesses - unless you think there is a difference between black and white people , surely this indicates that there is something going wrong?
@@ashleyshim2078 Can I get a hug? I got us a pizza. 🍕
@@KianMayne Black people are at higher credit risk than their white counterparts.
I’m black and I try and support black business but the service often sucks or is expensive af
Very true about the high prices
The few black owned businesses I've been to have horrible customer service and a lot of times they just don't have anything that catches my eye.
I don’t like how they say things like “50% of black owned businesses can’t secure loans, a rate twice as high as white owned businesses”. I would like to see what types of businesses these are. Also the avg. credit score of black people is much lower and that makes loans harder. Credit scores don’t see color.
Exactly. It's just too surface level. There are so many, and I mean so many variants that are being ignored here. It's not scientifically accurate or relevant enough. It's just cherrypicked numbers thrown around in a fashion that fits their message. Aka terrible journalism. But then I never seen a journalist cover a research study well at all, they never know what they are talking about. And that's where they resume it to "just" racism, with their ignorance, they didn't read the data well. After all, if they found more variants to this problem they would be able to come up with real suggestions to solutions. But, as usual, the only solution that journalists know is "that's why we should vote for my party". Typical junk media. I wish there was a way to make youtube videos less recommended by a rating review system or something, instead of just relying on "dislikes" which mean very little. The last thing we need now is a media piece that brushes over the real underlying causes to a problem like people losing their jobs, businesses etc. Irresponsible asf!
I’m willing to believe you, but I’m curious to know if you can prove this so in can spread this knowledge with confidence? (I.e. paste a link to an academic source that supports this opinion)
Almost agree
The average credit score of a poor or unresponsible person is lower, not just because they are black. I am a black college female and my credit score is a 750 right now. In response to the other part of your comment, yes I agree with you that the stuff they are saying is very surface level without really getting into the deep picture as to why things are the way it is.
@@emilye.6527 okay so this is great anecdotal evidence but can you cite any study that has shown credit scores aren’t correlated with race? I’m asking because in the U.S. the formula for credit scores are owned by private companies and therefore are closely guarded as trade secrets. No one outside of these corporations knows for sure precisely how they calculated, just general guidelines on the types of data they use and how they are weighted relative to each other given to us by the corporations themselves. The best we can do from the outside is track known scores and compare them with demographic statistics. So I’m wondering if this has been done and if it has been found that no correlation exists between race and credit scores? If so, please cite. Thanks in advance!
In Canada, the average lifespan of ALL new businesses is less than 2 years. This has nothing to do with race, it's just a fact of life that running a successful business is hard for EVERYONE.
I shop where I get the best selection, price and…most importantly…service. Period.
For the sake of disclosure, I am a white Trump Conservative who has in the past been employed by African-American women. For what it's worth, I'd love to see businesses run by people of all races succeed - especially when they not only provide an income for the business owners, but for other folks in the community. I think that there are some things we can do to work toward making this a reality. Maybe I'm wrong about this, but I thought that the Blexit Movement was already trying to push for teaching young people in high school how to run businesses. At any rate, I think that teaching our young people how to run businesses and how to manage money - combined with high school work-study programs, so young people can start earning money before graduating high school and leaving home - may start to get things turned around a bit. Add to that whatever reasonable deregulation might help businesses do well, and I think more people could become successful at running a business.
Now, some of the problems this video brought up are probably historically accurate and quite tragic. I get that. However, I think some of the claims they made were not necessarily accurate. For example, the modern redlining: okay, so they provide an example that may be reasonable; but how widespread is that problem, and is it deliberate discrimination, or an unintentional result of a poorly-trained employee? Were the applicants applying to the same bank? I think so, but I forget. What I would say in the case they brought up is that if both applicants were qualified to open accounts, then I'd say that we should train our young people to be persistent and assertive, and ask to open an account with the bank, if that's what barred the African-American applicant from getting a business loan.
Of course, there's a lot more to running a business than just getting a loan. I would think that it would be a good idea to start with minimal upfront costs, with the potential to earn money and grow the business, but I think that it would be wise to have a solid business plan, which requires an understanding of one's market. Successful businesses need to account for the demand for their product or service at their price point. If they can't turn a profit or at least break even, then the business needs to adjust, or it may not last. That's not exactly a function of race. That's mostly a function of market conditions. Those market conditions impact people of all races - maybe not equally, due to seed money or personal capital - but they nonetheless impact all businesses to one extent or another.
Now, when they said that people are part of the problem when they are not supporting businesses owned by African-American entrepreneurs, what I would reply to that is that those businesses need to provide a quality product or service that people would want to pay money for. That's not a race issue. Frankly, I find it racist that they'd bring up race; but remember, I'm a white Trump Conservative, so feel free to take my view with a grain of salt.
They then go on to talk about the Black Lives Matter message being one of "commitment to diversity". Um, what about Asian- / Asian-American-owned businesses? Latino-owned businesses? Native-American-owned businesses? You get what I'm saying? I get that they want us to support businesses that are owned by people of color. Well, with all due respect, I'm not going to go out of my way and ask if the owner is a person of color, because I don't want to hold it against a successful business owner if they're not a person of color. Frankly, I think that would be racist - and well, the business owner may be employing people of color, anyway, depending on the business.
Other thoughts from the video:
The 15% pledge.... are they doing the same pledge for businesses run by Native Americans? Latinos? Asian-Americans?
And then tech benefits given only to businesses owned by African-Americans.... honestly, I really do think that that is racist against non-Black business owners of all other races - not just white, but ALL non-Black business owners. Because, um, a number of them have been suffering, too, because of COVID. And then, well, some business owners of various races lost their businesses to acts of rioting and arson committed by fringe members of the Black Lives Matter movement. My apologies for getting political there, but to the best of my understanding, it's been true for some business owners.
Now, as for the Magic Johnson / PPP thing, I don't know what to say. If there has been a legitimate disparity, then perhaps his efforts did more good than harm.
Final thought:
I am white and might be interested in starting a business in the future. I haven't yet, because I need to be sure my finances are in order and that I have a solid business plan. I need to be sure that my product or service would be in high demand for the price point at which I'd offer it, and that the risk of litigation would be reasonably low. While white-owned businesses may be able to weather storms a bit better on average than business owned by African-Americans, I wonder the extent to which white folks like myself refrain from going into business - or wait longer - maybe due to being more risk-averse. That may be a factor, too. I don't know, and I apologize if my curiosity causes offense.
I'm black and on top of this my great mother was slave at 6 years old and I don't disagree that we have historical disadvantages but that doesn't mean we deserve help, handouts, loans, or support just because a black man was killed and to be honest its a disgrace you took money on behalf of his death like u profited off of it and that's just unfair to him and his family if you want to talk about fair. And thinking of my grandmother she always would say remember that there is god and everything happens for a reason and you got have faith in God as black man cus he's all we got sometimes and that should be more than enough for any one no matter what there skin color is.
Smart man.
You sound silly and should go educate yourself immediately.
I know I ain’t buying anything from any company that waves their race around like a flag.
I will. Esp with the history of this nation.
White car dealerships fly the American flag, they waive their race around all the time.
@@quentinparker7404 welcome to America. Thats why they fly the flag.
@@gordonmcmullan1087 No, you mean welcome to AmeriKKKa!
@@quentinparker7404 you seem to forget not everyone is like that. And the AMERICAN flag was around before the KKK.
The most saddest thing this video doesn’t say (and they should) is that systemic racism or race needs to drop it. Just because your non-minority history was hard it doesn’t mean you should
I'm Mexican and tried to support a black barber once, but their fade hair cuts hurt like hell. I couldn't handle the constant up and down on the side of the head with the clippers Those barbers definitely have their own style.