Why Blacks Don't Support Black Owned Businesses - Here's Why

[Yzak]

Why can I go to the papis or the Asians, and get a loaded up platter for $8 - $10?? They're not tryin to be skimpy wit the portions, either. Second I pull up to our folks a platter jumps to $20+.

7 times outta 10...the plate not even bussin. My aunt thru my lady make better plates, and don't even own restaurants. Too many of these fake ass IG chefs opening spots and really can't cook. Lastly u know u gotta get the customary attitude from black business, as if they doin u favor wit mid food, or service.

Hate to shyt on our folks, but a lot of nkkas definitely gotta do better. NOT ALL but A LOT.

They have access to their own supply lines, we don't. Most our farms were stolen and we just let our businesses and true entrepreneurial spirit fade away.



Supplies are cheaper for them than us and they get preferential treatment in buying buildings and getting loans.

 

[WIA20XX]

I'm stating that they aren't targeted and blown up and firebombed like every Black Wall Street in American history...and they move accordingly.

Shopify doesn't know if you're Black or otherwise.

I was just at the Post Office - Black people are steadily selling goods online. I was low key pissed off chick came through with 20 packages....

It doesn't have to be Kente Cloth Du Rags or Ebony Wood Afro Picks.

Black people can sell water filters and lug nuts too.

If we know that "the powers that be" target our businesses because we are Black - Bad boys move in silence.

The problem is when "we" know that "we" are selling something. That's when all of these "issues" come up.

Ain't nobody give a damn about the Black Owner Operator of Chick Fil A. (my little brother used to work for a brother that owned 2 Chick Fil A's - theyw ere a stones throw away from each other, so i guess corporate was cool with that)

Soon as it's Leroy's Chicken and Waffles though....

 

[Professor Emeritus]

Black progress is intentionally sabotaged and stifled in America due to economic racism and other "model minorities" capitalize on this.

I agree, obviously. White people and rich people have the easiest time getting business loans, especially rich white people. Black people and poor people have the hardest time getting loans, especially poor black people (unless they run with obscene, predatory interest rates). After that, what you see is everyone getting in and trying to make their money where they can. Of course racism will have an influence (non-Black people are less likely to go to a Black business, non-Black used car salesmen negotiate at higher prices with black and/or female customers than white and/or male customers), but at that level it's not so much dictated top-down with some nefarious strategy as it is ingrained in the mentalities.

 

[Yzak]

The real reason is that Black people were/are so subjugated by White culture for hundreds of years, they now think their identity is to be a 2nd class citizen, that somehow that makes them "more Black"

Any type of aspirational Capitalistic endeavor is seen as "acting white". Mention the word Capitalism and you'll see the automatic disdain and alot of Black people scrunch up their face in disgust. Somehow Section 8, Welfare, "The Struggle", and "The hood" are thought of as Black culture. We have internalized all the stereotypes White people have put on us. So alot of Black Business are seen with envy and hate

Constant media propaganda barrage. Straight Black men who want to lift up the community need our own media platforms to influence the youth and show them who the true c00ns are

 

[Yzak]

• Black owned businesses don't get as big loans from banks as their white, Asian, Hispanic counterparts, to open businesses.
• Black owned businesses are often paying double on wholesale as opposed to other ethnic groups.
• Once a black owned business gets labeled black owned, there's a negative stigma attached to it that brings in unwarranted attention.
• Black owned businesses add 20% gratuity often because they don't trust black customers.
• Black owned businesses are more expensive because they're paying more on wholesale than other ethnic or cac groups so they have to charge more to compensate.
• Black owned businesses often have terrible service because of the people they hire and their compensation is a lot lower than their competitors.

Because of this, if I'm going to support black owned businesses, it has to be a small family owned business. Not all skinfolk is your kinfolk so the wrong people that are not likeminded and only hired by affiliation can mess up your business.

We really need a stronger sense of ethnic unity. We gotta be honest and admit nothing will change until we change and start putting our money together

 

[Yzak]

They set up shop in poor areas because they are the only ones that are willing to deal with the bullshyt that comes with doing business in the hood

Government gives them loans to set up in those areas to suck up Black money

 

[Jean Jacket]

Shopify doesn't know if you're Black or otherwise.

I was just at the Post Office - Black people are steadily selling goods online. I was low key pissed off chick came through with 20 packages....

It doesn't have to be Kente Cloth Du Rags or Ebony Wood Afro Picks.

Black people can sell water filters and lug nuts too.

If we know that "the powers that be" target our businesses because we are Black - Bad boys move in silence.

The problem is when "we" know that "we" are selling something. That's when all of these "issues" come up.

Ain't nobody give a damn about the Black Owner Operator of Chick Fil A. (my little brother used to work for a brother that owned 2 Chick Fil A's - theyw ere a stones throw away from each other, so i guess corporate was cool with that)

Soon as it's Leroy's Chicken and Waffles though....

E-commerce is the great equalizer.

Until everything we buy and use is virtual...we will still have to practice group economics where we live, work, and pay taxes.

 

[Jimmy from Linkedin]

This false dichotomy of Black ventures folding due to corruption or incompetence between each other is exhausting.

He didn't get "sued for not paying back loans"... There was a roof collapse that the insurance company denied the claim for and there was litigation to secure the collateral.

chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.govinfo.gov/content/pkg/USCOURTS-mdb-0_15-ap-00685/pdf/USCOURTS-mdb-0_15-ap-00685-0.pdf

I'm not sure if you're just attempting to use ad hominem attacks against Claude to aid your effect...or if you're serious about what you're talking about.

I agree with his statements and his view on Black Economics, and his books and lectures on the subject are viable and relevant still today.

You don't have to agree with him. That's cool as well.

Except I never attacked him. There may be an insinuation that can be taken offensively, but why would it be? These are facts.

Yes it is true that the roof fell in. I gave the court info that also provided that information.

I also linked the final court case in relation to Dr Anderson vs harbor Bank. That covered the damages you discussed with included details about how when the insurance checks were cashed his wife got paid first, not the bank. The one you linked is from three years prior.

If you wanted to go there we could discuss the potential "kangaroo court-ing" of. Dr. Anderson. It is a strange case indeed. That would require for us to accept the facts of these cases, which is that fundamentally he was sued for not paying his loans back to a black bank.

 

[WIA20XX]

I agree, obviously. White people and rich people have the easiest time getting business loans, especially rich white people. Black people and poor people have the hardest time getting loans, especially poor black people (unless they run with obscene, predatory interest rates).

Poor Black people might not be in the best financial position to start and run businesses.

Most Black people are not poor. These folks have us believing that everyone's crawling through broken crack vials, child molesters, toxic waste, so that we can flunk out of inadequate schools before we become drug dealers and then rappers with our stripper baby mama girlfriends...

That's not everyone's story.

A lot of us are NOW middle class, educated, upper middle class, professional class etc, even if weren't born there.

How does the talented 10th/20th whatever - use their money and talent to build Black retail good and services, as well as business to business, as well as manufacturing etc?

That's the question that middle class Black America is not coming to really addressing.

This conversation has been going on since at least the Booker/WEB Dubois Days...

 

[Jimmy from Linkedin]

He's been pushing that agenda for years. Sociologists need to take classes on economics.

The reality is that there are 15 Million Black Households and the median Black Household income is 46K.

Given that Black wealth is damn near neglible, we spend about 700B per year on goods and services. (How much they spending on Ukraine/Israel again?)

You can get different numbers by looking at # of black people and individual income, but the #' is massive. What little we have, we spend every damn penny of it.

Obviously purchasing power can be augmented by credit, which is usually what people mean by purchasing power - but just on income alone, Black folks are pushing 700B around.

The white number is super massive by comparison, as they make more (almost double) and they're 6 times the Black population.

We're not concerned with them.

Can Black People's current spending habits be funneled into things that have more long term value in our community?

I say yes.

But it's not gonna be in Ray Ray's new t-shirt line. FUBU never got to Levi's scale. A Levi's factory is a big deal for the community that it's in, 100s if not 1,000s of sustainable jobs.

NBA athlete entering into a co-branding joint venture with random Chinese company is not.

The book is available for free here. In it he has addressed almost every one of your ideas in this post.

I implore everyone who is really invested in this topic to read it.

The Myth and Propaganda of Black Buying Power

This Palgrave Pivot sets out to affirmatively and decisively dispel the myth around the reoccurring myth of black buying power and how that putative buying power could be re-directed promote black economic development. It provides an original contribution to the racial wealth gap literature.

link.springer.com

 

[Swirv]

99% of black money is spent outside the black community, that’s a damn shame. On some real shyt, this is embarrassing.

 

[Jean Jacket]

Except I never attacked him. There may be an insinuation that can be taken offensively, but why would it be? These are facts.

Yes it is true that the roof fell in. I gave the court info that also provided that information.

I also linked the final court case in relation to Dr Anderson vs harbor Bank. That covered the damages you discussed with included details about how when the insurance checks were cashed his wife got paid first, not the bank. The one you linked is from three years prior.

If you wanted to go there we could discuss the potential "kangaroo court-ing" of. Dr. Anderson. It is a strange case indeed. That would require for us to accept the facts of these cases, which is that fundamentally he was sued for not paying his loans back to a black bank.

I'm defensive of the Brother, because a lot of times, Black people are not often given the courtesy of failing forward.

His character has never been questionable to me.

Just how cacs practice cognitive dissonance and play the shell game with figures like Trump...I'm going to need hard evidence that this man stole money.

Seems like you're vested in knowledge/research about his fishery venture.

Go ahead and educate us. I'm not Claude nor his counsel...

I support his work and Powernomics...that's what's important to me.

Martin Luther King was an adulterer.
Malcolm was in the streets.

Doesn't diminish their legacy one iota.

 

[WIA20XX]

The book is available for free here. In it he has addressed almost every one of your ideas in this post.

I implore everyone who is really invested in this topic to read it.

The Myth and Propaganda of Black Buying Power

This Palgrave Pivot sets out to affirmatively and decisively dispel the myth around the reoccurring myth of black buying power and how that putative buying power could be re-directed promote black economic development. It provides an original contribution to the racial wealth gap literature.

link.springer.com

I've read it before. I read it when it was new before it was behind a paywall.
I've watched his "debates" and lectures.

He is a Professor of Communication Studies at Morgan State University in Baltimore, MD

He's not economist.
He's out of his depth.

He traces the "black buying power myth" adequately I suppose.

But we're all paying rent and mortgages.

That money exists and it is going somewhere.

As an aside

Him and FD Signifier both play into this helpless Black Leftist paradigm. I seriously don't get it.
They don't read recent history and haven't read economics.

You can see the man himself just miss the point

 

[Professor Emeritus]

Poor Black people might not be in the best financial position to start and run businesses.

Most Black people are not poor. These folks have us believing that everyone's crawling through broken crack vials, child molesters, toxic waste, so that we can flunk out of inadequate schools before we become drug dealers and then rappers with our stripper baby mama girlfriends...

That's not everyone's story.

I'm not talking about homeless and drug addicts, I'm talking about your average low-income or working class person who has a hard time making ends meet or getting consistent work with a 9-5 job and decides to go into business for themselves instead. You see a ton of folk without that much money who take out a loan so they can leverage their trade, start a food cart, farm a piece of land, start building things, sell something out of their garage, etc. A significant percentage of small businesses are founded by people who earn below the median income.

A lot of us are NOW middle class, educated, upper middle class, professional class etc, even if weren't born there.

How does the talented 10th/20th whatever - use their money and talent to build Black retail good and services, as well as business to business, as well as manufacturing etc?

That's the question that middle class Black America is not coming to really addressing.

This conversation has been going on since at least the Booker/WEB Dubois Days...

Personally for me, I feel we need to emphasize education, parenting, health care, and legal protections. Ensure that young black boys and girls growing up are even in a position to take advantage of opportunity, that nothing inside themselves (their education, their upbringing, their health) is stopping them, and nothing outside themselves (employment discrimination, banking discrimination, insurance discrimination, lack of political support) is stopping them either. Fix those two things and the business side will take care of itself.

 

[The Fade]

E-commerce is the great equalizer.

Until everything we buy and use is virtual...we will still have to practice group economics where we live, work, and pay taxes.

About to hop on this wave in many lanes.. I feel like the web is full of prime real estate if you have quality products

AI will be the next equalizer too after the gun.. I hope there’s enough brothers and sisters making inroads with it