The richest 10% own 70% of the country’s wealth

[mbewane]

I'm not even gonna read 8 pages because I sense brehs are defending the system on the outside chance that they too can one day "make it". That's really the greatest trick of capitalism : making everyone believe they too can one day be part of the top 10 %. And for that outside chance they're willing to sacrifice health, well-being, people who had lesser opportunities, healthcare, the environment, etc.

 

[5n0man]

Ask yourself this:

Why should anyone help you?

And you'll understand why you financially stand still.

This isn't rocket science. It's not luck either. You don't need capital to create revenue. You need vision.

Speaking of the homeless man. If you saw the math I presented..he actually makes more money panhandling

if you gave a crap about building something foreal you would turn to youtube and start learning or somewhere. It just takes you.

I understand where you're coming from but nothing you are saying addresses the topic of the thread.

The majority aren't gonna ever get to the point where they are seeing 85k a month like you. Someone has to be at the bottom doing the manual labor for everything to work correctly.

 

[MMS]

I understand where you're coming from but nothing you are saying addresses the topic of the thread.

The majority aren't gonna ever get to the point where they are seeing 85k a month like you. Someone has to be at the bottom doing the manual labor for everything to work correctly.

If i told you it started at $85/mo would it change your mind?

we known eachother since sohh too (lambodoors)

 

[Xcoyote]

Just fyi there are no capitalists in heaven.

 

[5n0man]

If i told you it started at $85/mo would it change your mind?

we known eachother since sohh too (lambodoors)

Nothing you say about how you got to the position you're in will change my mind or addresses the topic of the thread.


Not everyone can/will reach that level, majority are destine to be workers. Balance is needed for a proper capitalistic economy to thrive. When 10 percent of the population owns 70 percent of all the wealth, there is a clear imbalance in the system. It needs to be addressed before it all comes crashing down.

 

[MMS]

Nothing you say about how you got to the position you're in will change my mind or addresses the topic of the thread.


Not everyone can/will reach that level, majority are destine to be workers. Balance is needed for a proper capitalistic economy to thrive. When 10 percent of the population owns 70 percent of all the wealth, there is a clear imbalance in the system. It needs to be addressed before it all comes crashing down.

Putting people into buckets and predefining who they are is the basis of bigotry

Unless you understand the system you’ll forever be shaking your fist at it

 

[rapbeats]

So financial blessings or luck

ask yourself if you really believe it. Are you really that scared?

I spent 10K on credit cards and risked it all. It wasn't gambling that got me through but self-learning.

mr 5 links. I dont get excited with a bunch of general speak. i know bs when i hear it. or i should say, i know half truths. stop giving us these one liners and facebook fairy tale quotes. get specific. what financial situation were you born into, first off are you black?, how much did you have as a young adult? what did you do with what you had or didnt have? explain in detail. dont skip steps unless you're full of .....and thats what your responses are all about. a bunch of nothingness. trying to SOUND like you're saying something.

 

[rapbeats]

Ask yourself this:

Why should anyone help you?

And you'll understand why you financially stand still.

This isn't rocket science. It's not luck either. You don't need capital to create revenue. You need vision.

Speaking of the homeless man. If you saw the math I presented..he actually makes more money panhandling

if you gave a crap about building something foreal you would turn to youtube and start learning or somewhere. It just takes you.

it just takes you. oh really.

So what about the millions of people literally studying youtube stuff by the day(and i agree we do have info available like never before and it surely should be used) but how and why are 95% of these millions of youtube watchers watching the information stuff, still are just as broke as they were the day before?

Do you know how many people are not afraid or i should say run thru the wall of fear to Attempt to start their own businesses every year?

So lets cut the bull and get to the numbers.

16 Surprising Statistics About Small Businesses

In the last 6 years, we’ve amassed a wealth of knowledge about the state of small business from our 38 million members and we never cease to be surprised. Here are 16 vital (and surprising) statistics we’ve uncovered about the small business landscape:

1) The SBA defines a small business as an enterprise having fewer than 500 employees

2) There are almost 28 million small businesses in the US and over 22 million are self employed with no additional payroll or employees (these are called nonemployers)

3) Over 50% of the working population (120 million individuals) works in a small business

4) Small businesses have generated over 65% of the net new jobs since 1995

5) Approximately 543,000 new businesses get started each month (but more employer businesses shut down than start up each month)

6) 7 out of 10 new employer firms survive at least 2 years, half at least 5 years, a third at least 10 years and a quarter stay in business 15 years or more

7) 52% of all small businesses are home-based

8) There were 22.5 million nonemployer firms in 2011 (up almost 2% from the year before)

9) To classify as a “nonemployer” business you must have annual business receipts of $1,000 or more and be subject to federal income taxes

10) Approximately 75% of all U.S. businesses are nonemployer businesses

11) 19.4 million nonemployer businesses are sole proprietorships, 1.6 million are partnerships and 1.4 million are corporations

12) The fastest growing sector for freelance businesses in 2011 included auto repair shops, beauty salons and dry cleaners

13) Total TOT +0% revenues from nonemployers hit $989.6 billion in 2011 (up 4.1% from 2010)

14) Nonemployers had average revenues of $44,000

15) Around 80% of nonemployer businesses for 2011 (or 18 million businesses) reported less than $50,000 in receipts

16) Here is the revenue breakdown of nonemployer businesses in 2011:

Revenue / year Percent Establishments
$989.6 Billion100%

22,491,080

Less than $5K
24.4%

5,492,587

$5K- 10K
16.9%

3,795,785

$10K - $25K
25.3%

5,689,588

$25K - $50K
13.5%

3,029,809

$50K - 100K
9.6%

2,151,075

$100K - $250K
7.2%

1,609,507

$250K - 500K
2.2%

484,479

$500K - $1M
0.9%

209,415

$1M - 2.5M
0.1%

26,744

$2.5M - $5M
0.0%

1,723

$5M or more
0.0%

368

So now lets address the topic at hand.
Information on Small Business Startups

Over 627,000 new businesses open each year, according to SBA estimates. At the same time, about 595,000 businesses close each year (latest statistics as of 2008). The number of new start-ups has fluctuated since 2004, rising to a peak in 2006 with 670,000 openings before declining over the next couple of years. As of 2008, the United States had over 29 million small businesses.

---7 out of 10 new employer firms survive at least 2 years, half at least 5 years, a third at least 10 years and a quarter stay in business 15 years or more

but dont let that hold you back. make a real decision based on real data. I wonder how many of these slick talkers actually have pulled up information showing small business statistics and did they strategically go into business for themselves or did they just haphazardly make that choice like most people. which is another reason why almost half of these businesses fail. just lacking fear is not enough to own a business that actually turns a profit. going into business for really broke black people, shoot for even well to do black people who have made their money working for others, turns into a thing of just owning a business for the sake of owning a business and 9 times out of 10 the business fails within the first few years. because they never thought it thru. they were just happy to call themselves black business owners. i see this a lot.
......

 

[rapbeats]

continued.....



But lets look at some more real numbers.


https://smallbiztrends.com/2019/03/startup-statistics-small-business.html

GENERAL STARTUP STATISTICS

• 69 percent of U.S. entrepreneurs start their businesses at home.
• According to the National Association of Small Business’s 2017 Economic Report, the majority of small businesses surveyed are LLCs (35 percent) followed by S-corporations (33 percent), corporations (19 percent), sole proprietorships (12 percent), and partnerships (2 percent).
• 51 percent of people asked, “What’s the best way to learn more about entrepreneurship?” responded with “Start a company”.

SMALL BUSINESS OWNER STATISTICS
Who’s starting small businesses today? Here’s a look at small business owners:

• Gender:
  • 73 percent identify as male; and
  • 25 percent identify as female.

• Age Range:
  • 50-59 years old: 35 percent;
  • 40-49 years old: 25 percent;
  • 60-69 years old: 18 percent;
  • 30-39 years old: 14 percent;
  • 18-29 years old: 4 percent; and
  • 70+ years old: 4 percent.

• Education:
  • High School / GED: 33 percent;
  • Associates Degree: 18 percent;
  • Bachelor’s Degree: 29 percent;
  • Master’s Degree: 16 percent; and
  • Doctorate: 4 percent.

• Reason for starting business:
  • Ready to be his/her own boss: 26 percent;
  • Wanted to pursue his/her passion: 23 percent;
  • The opportunity presented itself: 19 percent;
  • Dissatisfied with corporate America: 12 percent;
  • Laid off or outsourced: 6 percent;
  • Not ready to retire: 6 percent;
  • Other: 5 percent;
  • Life event such as divorce, death, etc.: 3 percent.

• Ethnicity:
  • White/Caucasian – 71 percent;
  • Hispanic/Latino – 6 percent;
  • Black/African American – 7 percent;
  • Asian/Pacific Islander – 11 percent;
  • Other – 5 percent.

• 82 percent of successful business owners did not doubt they had the right qualifications and proper experience to run a company.

now lets address something, why do white folks start up more businesses? well for one there are a lot more white people in america than there is any other race. so sheer numbers is a huge part of the reason. But wait, why are asians leading in 2nd? they have the smallest numbers of the above groups aside from "OTHER". Because they also have more money overall and they have more access to loans with their own banks, they also have special treaties and deals from the US and their home country to make it super easy for them to become business owners. They will hook them up with more capital early on because of these deals we have with their countries. the same way the US had a shortage of nurses at one point, and we made deals to let in a lot of people from the Philippines with nursing degrees/credentials. and give them work visas to do so. they probably made it easier for them to find places to stay to since we needed them as much as they need us.

WOW, look at that. ULTRA BROKE black people. are supposed to find pennies in their couches that they rented from rent-a-center to fund their startups.

Notice i said startup(S) plural. because usually it takes you a few times to get it right. your first venture usually doesnt work that well. the problem with black people in general is that we dont have enough money to Eff Up multiple times like white people do. we think they dont blow it. sure they do, they make up most of the business list and they make up most of the failures as well. they have enough capital or access to capital via family, friends, that system of white supremacy where other people are willing to angel invest in them and not your black a... off the strength that their white. and white is right. no more, no less. This is why they can SEEM so successful at it. they have multiple shots at it until they figure it out. this is why i say its blessing and a lot of luck especially for people color, then especially for black people specifically.

But lets get back to the numbers:

STARTUP FAILURE RATE STATISTICS

• Of all small businesses started in 2014:
  • 80 percent made it to the second year (2015);
  • 70 percent made it to the third year (2016);
  • 62 percent made it to the fourth year (2017);
  • 56 percent made it to the fifth year (2018).
• Given those numbers, a bit more than half of all startups actually survive to their fourth year, while the startup failure rate at four years is about 44 percent.

• Top 10 causes of small business failure:
  • No market need: 42 percent;
  • Ran out of cash: 29 percent;
  • Not the right team: 23 percent;
  • Got outcompeted: 19 percent;
  • Pricing / Cost issues: 18 percent;
  • User un-friendly product: 17 percent;
  • Product without a business model: 17 percent;
  • Poor marketing: 14 percent;
  • Ignore customers: 14 percent; and
  • Product mistimed: 13 percent.

STARTUP FINANCE STATISTICS
Money is a key ingredient to the small business success rate. Here’s a financial snapshot of small business startups:

• A third of small businesses get started with less than $5,000 and 58 percent got started with less than $25,000.
  • In addition, 65 percent admitted to not being fully confident they had enough money to start their business and;
  • An overwhelming 93 percent said they calculated a potential run rate of shorter than 18 months.

• The most popular small business financing methods in 2018 were:
  • Personal funds 77 percent;
  • Bank loan 34 percent;
  • Borrowing from family/friends 16 percent;
  • Other funding 11 percent;
  • Donations from family/friends 9 percent;
  • Online lender 4 percent;
  • Angel investor 3 percent;
  • Venture capital 3 percent;
  • Crowdfunding 2 percent.

• 40 percent of small businesses are profitable, 30 percent break even and 30 percent are continually losing money.
• Having two founders, rather than one, significantly increases your odds of success as you’ll:
  • Raise 30 percent more money,
  • Have almost 3X the user growth, and
  • Are 19 percent less likely to scale prematurely.
• 82 percent of businesses that fail do so because of cash flow problems
• 27 percent of businesses surveyed by the NSBA claimed that they weren’t able to receive the funding they needed.

FASTEST GROWING SMALL BUSINESS INDUSTRIES
The industries with the top number of small business startups in 2018 were:

• Business services: 11 percent;
• Food/Restaurant: 11 percent;
• Health/Beauty/Fitness: 10 percent;
• General retail: 7 percent;
• Home services: 6 percent.

INDUSTRIES WITH THE BEST STARTUP STATISTICS
The 10 most profitable small business industries by net profit margin (NPM) are:

• Accounting, Tax preparation, Bookkeeping, and Payroll Services: 18.4 percent NPM
• Lessors of Real Estate: 17.9 percent NPM
• Legal Services: 17.4 percent NPM
• Management of Companies and Enterprises: 16 percent NPM
• Activities Related to Real Estate: 14.9 percent NPM
• Offices of Dentists: 14.8 percent NPM
• Offices of Real Estate Agents and Brokers: 14.3 percent NPM
• Nonmetallic Mineral Mining and Quarrying: 13.2% NPM
• Offices of Other Health Practitioners: 13 percent NPM
• Medical and Diagnostic Laboratories: 12.1 percent NPM

INDUSTRIES WITH THE WORST STARTUP STATISTICS
The 10 least profitable industries in the US by net profit margin (NPM) are:

• Oil and Gas Extraction: -6.9 percent NPM
• Software Publishers: -5.1 percent NPM
• Beverage Manufacturing: -3.7 percent NPM
• Semiconductor and Other Electronic Component Manufacturing: -0.3 percent NPM
• Forging and Stamping: 0.4 percent NPM
• Farm Product Raw Material Merchant Wholesalers: 0.9 percent NPM
• Beer, Wine, and Distilled Alcoholic Beverage Merchant Wholesalers: 2.1 percent NPM
• Petroleum and Petroleum Products Merchant Wholesalers: 2.8 percent NPM
• Grocery Stores: 2.2 percent NPM
• Bakeries and Tortilla Manufacturing: 2.3 percent NPM

.


Now lets say you get lucky and you come up with the perfect little business for yourself, and now you're in year 2 making a legit profit. and then something happens, and your product or service hits bad spot. lets say you developed a nice simple useful software product all by yourself. Then lets say some clown found a way to use your software to hack into people's computers. eventually you get wind of this by other customers telling you they are having the same or similar issue out of the blue. Then it gets bigger and bigger and bigger. people are pissed and start suing you for their losses.

When you go into business, you dont have to be bonded like you do if you go into business as a carpenter, plumber, electrician, work with your hands type. Which means you dont have to have special business insurance to cover these scenarios. and lucky you dont have to have all that insurance because if you did you would not have enough money early on to completely start your business and pay for that insurance. you just dont have enough capital. So now you're about to be sued out of your business, even though it was a success. Thats the kind of bad luck that can happen and will happen to you and you have to plan for but you can't do anything about it if you're too broke to have that insurance coverage. you're out there driving with no insurance more or less praying no one hits you and you never bump into anyone or anything. i'm still not going to say dont try. you should, but you better be super strategic about it.

 

[☑︎#VoteDemocrat]

To be honest, in a country as rich as the USA, I dont know what positive percentages I would be OK with.

 

[MMS]

mr 5 links. I dont get excited with a bunch of general speak. i know bs when i hear it. or i should say, i know half truths. stop giving us these one liners and facebook fairy tale quotes. get specific. what financial situation were you born into, first off are you black?, how much did you have as a young adult? what did you do with what you had or didnt have? explain in detail. dont skip steps unless you're full of .....and thats what your responses are all about. a bunch of nothingness. trying to SOUND like you're saying something.

or maybe you just want to hear more of what you already believe

I'm black, my father died when I was 16

I was in debt from the day I went to college up until last year (10+ years)

the problem with your mindset....is that you are overly concerned with what you "have". Noone with this mindset attains wealth.

Wealth is all about what you give. If you change the way you view the world from this lens it will be clear as day how anyone makes money.

As far as the stats and all that let me tell you why they fail:

Failure to Leverage and creation of a Poor Offer

In order to make a business work, you need to understand Leverage first and foremost. Most businesses have a "perfectionist" mindset and spend more time planning than doing, and ultimately get outmaneuvered by their competitors.

There are 4 kinds of leverage

• Monetary Leverage - self-explanatory
• Marketing Leverage - put your business out here, 80% of businesses have no means of attracting customers outside of a sign)
• Manpower Leverage - Most businesses fail to hire when needed and try to do it all themselves. They ultimately move slow, while their competitors move fast to match the market.
• Systems Leverage - Use technology to improve how they deliver products/services (think FBA as opposed to packaging your goods yourself)

The offer? Most businesses just take what someone else is doing and attempt to come to market.

They find out a hard lesson. In business there are:

• Inventors - Those who first come up with the idea
• Innovators - Those who improve on the idea
• Imposters - Those who just run with whatever is already working

At the end of the day, it still goes back to a willingness to jump in and to CONTINUOUSLY self-educate. Most people simply miss the core mindset needed to accomplish these things and fail outright. Thus why back in the 1800s where there were more entrepreneurs than jobbers it was an easy sell to convince someone poor to work for someone else who figured it out. It's gotten worse to the point now where wealth is shifting all in the direction of entrepreneurs and shareholders (investors).

But hey! Don't let me change your mind. All those figures should let you know that it's too scary for you to attempt it.

I compare it to jumping off the high dive. Everyone thinks about what could happen. The guy who does attempt it only thinks about how he's going to dive.

 

[Cynic]

its BS speak for they developed a hustle.

Thing is when people figure out a good hustle they don't give that info away freely. they hide it and protect it because that info is power. the info given away freely i won't say it's worthless but it's not the good shyt.

lots of people who say they're "consultants" did something for a company and left the company but continue to work in that field. if they still worked for that company it would be called a conflict of interest and a fireable offense. when they see the money in doing what they did on the side and cutting the company out they go that route.

Info without repetition accountability and discipline ?

The fact is that most people are too lazy to follow through and get discouraged easily.

 

[Cynic]

all this is well and good but it has LITTLE to do with the topic at hand. and as many times you've responded to the threadstarer knowing good and well you responses dont address the original post. makes me think you're just on that nonsense trying to sound smart.


Let me help you along the way. lets say i'm financially literate. But I dont have anything to sell to earn more cash. Lets say my parents never owned a home, I'm the first financially literate rapbeat in the family. Lets say my parents died with no life insurance and didnt leave me a dime. Lets say before i became financially literate i took out a bunch of loans to goto college in hopes at least i will be able to own a home or two or three one day. so now i'm indebt for say 80k. lets say I make$55k per year, lets say i live in L.A. were the rent is high as hell and i can't afford to buy anything worth paying for. so i have to rent. Lets say i have a modest car, but i'm a tall bruh so i couldnt get something super small and super cheap, i need the leg room.

So with all of what you just said above. what the hell is that going to do for me in my virtual situation above?

Sure i can save SOME money, and pay down my debt. But I can't SAVE enough because i dont MAKE enough to have a down payment on a home or any other commercial property where i could flip it or rent it out/lease it out.

I have a 401k. but i dont make a ton of money so i only get a very little bit back in return.


Basically i'm saying this. people do a lot of talking about theory and not reality. The truth that they dont want to tell you is this. in order to do well, 9 times out of 10 you will need startup cash to invest in yourself, in your business, in your real estate venture(s), in your stocks. and you need enough of it to make a dent so you can flip it again a few times and now you move up the ladder financially speaking.


Lets say you played the gambling stocks game. lets say you found a nice stock that started out at 30bucks. and you jumped on at the start and knew more about the company than most. lets say you have the scenario above with a couple of kids. you and the baby mama aint together so there is no 2 parent household income thing happening. So now you have less $ to spare. so lets say you buy 100 shares. that will cost you $3,000k. You dont have that money to burn like that. but lets just say you had it and pray nothing bad happens anytime soon and you need another 3k to help. lets say you can afford to leave those shares alone for 5 years. lets say in the 5th year that stock is now $300.00. now you just made 30k. now you can have a little down payment money on something really small not in los angeles unless its a super fixer upper in the deep deep hood where ish happens on the daily. You could perhaps flip that 30k and make it work. but if for whatever reason you slip and make the wrong choice of real estate or investments with your first big money move. you will lose it all. and you will be back to square one again. you may not know of any other companies where you know them so well and know they will do that well again. and even that was a fluke.

but odds are you make 32k, and you dont have any real money saved more than 3k for emergencies only and you're already barely making rent. so you cant ever invest in anything that you can make real money on, which leaves you in this bad loop. barely have enough to rent and go to work to pay rent to go to work.......

This is what happens when the new society you live in was changed to favor the ultra rich. you are now destined to be poor forever. and they have laws on the books, to make sure that is the case and make sure you stay that way.

There's another reason why this big companies making all this money need to pay much more in taxes. or at least needs to be scared into it. the reason is that they still wont want to pay uncle same that money or not all of it. so they will have to put it some where so it can't be taxed. well that some where USE to be in the employees pockets as raises/bonuses.

if you have a choice as a billion dollar company to pay 500 mil in taxes or 500 mil in raisers and bonuses. you will most likely choose the later. this will give more spending power to your employees. which will make them happy. happy workers, produce a lot more than unhappy/depressed workers. so you the employer get a nice bump in production. in addition, these same employees give you great reviews online and offline telling the world how well you treat them. this then means other employees that need work are looking to join your great company. this is how you attract and retain great talent. another bump for you the big business owner.

This is also a country wide economic boost since people now have money to spend on things without wondering if they could make rent.

Startup capital is not the answer. If it was all these VC companies would succeed


The issue here is just expectations for being average and doing the bare minimum.
This $50k/year breh with an $80k college debt probably spent time chasing hoes. playing 2k, partying etc
and other distractions

In order to succeed in this system - your core focus has to be $$$$$$$$ and you have to be dedicated
and be prepared to fail over and over and over again , get heartbroken, lose friends, lose lovers etc ...

Until you reach a point where you can automate your income generation and divorce your time from
making money. Then you do whatever you want including helping those less fortunate and offering
opportunities to them

 

[Cynic]

It's easy to tell somebody start a business and risk it all. That's generic talk with no actual direction or guidance. Like he was saying what's the common man with limited capital gonna even do to start a business?

You sound like one of those republicans that tells everybody to pull themselves up by their own bootstraps. I get what you're saying but at the same time there's no actual guidance in the condescending lecturing you're doing just like there's none in what they say. You are effectively walking up to a homeless man and saying "you need to focus on getting a job cause it would change your life." There's a difference between walking up to a homeless man and saying that and walking up to one and saying "I know a guy looking for manual labor and he'd pay you $80 a day for 8 hours work. Beats he hell out of standing on the off ramp of this express way with a sign begging for food. Let me give you info to get in touch with him"

In one of those there's actual guidance and direction and in the other it's just obvious yet worthless advice.

It'd be different is you were like here are a few businesses people can get into with limited capital and here are some resources about them.

It doesn't matter because you'll find reasons to invalidate any information given. I know those of your ilk
and have dealt with many of you throughout the years.

Those who really want to be successful will be

 

[MMS]

Those who really want to be successful will be