For this particular project, we will be focusing on people who own their own business and people who know of popular black owned businesses. We will be interviewing people who own restaurants, hair salons etc. We will ask general questions like what does it take to own a business and how does one get started (their starting point). Discuss how people can continue to own their business. Also their opinion on how people of the community can help support their business.
1.what does “being supportive” look like to you?
2.what impact does being supportive have on your life?
3.do you think that being supportive can be a good and bad thing? why or why not?
4.what would the world be like with out support?
5.what types of support have you ever condoned or experienced?
6.do you support within and outside your race, or just within your race?
7.would you do something illegal for a good cause or do something good for something illegal?
8.what influences your decision to support?
9.do you only support your loved ones?
10.does race tie into supporting in your neighborhood?
11.name a business your support and why.
12.does that business receive support from one particular race or various races?
13.why don’t we support each other?
14.what influences or causes this to occur?
15.what do you think is the first example of support that you heard of or encountered?
16.what is your favorite black business and why?
17. if you were to start a business, what would be your starting point?
18.what previous knowledge do you have of Black Businesses?
19.do you think Black Businesses will progress in America?
20.do you believe that Black Businesses are an effective way out helping our communities progress?
21.what alternatives do you know of that may be more effective ways for our community to progress?
22.on average, how much profit do you believe Black restaurants make?
23.does anyone in your family own a business?
24. How many Black Businesses do you know of in your community?
25. Would you, yourself, be interested in opening a business?
26. What would your business plan be?
27. What are some strategies you can think of to have a successful business?
28. How will you know that you’ve reached success?
29. What businesses do you think are most effective? Food or Clothing?
30. would you recommend that someone owns a business or work in one?
Why 1 Trillion Dollars In Black Buying Power Should Be Used To Start Black Businesses
Entrepreneurship is key driver in empowering black communities
By 2015 African Americans will yield $1.1 trillion in spending. But that thirteen-figure power should be used to invest in not only patronizing black-owned businesses but starting black-owned businesses, says Congressman Donald Payne Jr. (D, NJ), who won a special election in 2012 following the death of his father, representative Donald Payne Sr. As a member of the House Committee on Small Business, Payne has championed minority entrepreneurs gaining greater access to capital and resources. He has worked with the U.S. Small Business Administration to help them increase their contracting spend with minority-owned businesses. Payne led a panel on empowering the black community through entrepreneurship at the Congressional Black Caucus Foundation’s 43rd Annual Legislative Conference in Washington, DC.
Among the group was Dr. Dt Ogilvie, dean and professor of business strategy at the Saunders College of Business at the Rochester Institute of Technology. The prevailing model for economic development has been a focus on jobs and housing for the past 50 years, but it has not worked for most inner cities, she says. “You can get job training but not get a job; you can buy a house but that doesn’t create wealth.” Learning the skills to create and successfully run a business creates wealth, she adds.
Ogilvie is the founding director of the Center for Urban Entrepreneurship & Economic Development, in Newark, New Jersey. While there, she helped develop and manage its Entrepreneur Pioneers Initiative, a nine-month program that trained first-generation business owners on what she refers to as the “science of entrepreneurship.” Olgivie plans to duplicate this model in Rochester, noting that it has to be tweaked for local conditions.
“If you know the science you can avoid a lot of mistakes that entrepreneurs often make,” says Ogilvie. What are the main elements of this science?
1. You need to have a growth plan and an exit strategy. You should know what the typical revenues are for your type of business and in your industry. You also should think in terms of starting a business and selling it. That is the way you create wealth for yourself and your community. Or if you are thinking of passing the business on to a family member or employee, you need a succession plan in place.
2. You need to know how to manage your money, your cash-flow. You should not be operating out of a shoe box in terms of your receipts. You need to keep a track record of your business operations.
3. You need to know how to talk to a small business banker. This is a skill that you can learn. You also will need to have a business plan in place if you plan on asking anyone for money.
4. You have to be competitive. Once black businesses graduate from the SBA’s 8(a) program, a number of them fail because they haven’t been competitive enough. Stay ahead of your competition.
She also pointed out the importance of circulating dollars back into the black community., especially if you live within that community–don’t shop outside of your neighborhood.
Ogilvie participated in the first ever White House Summit on Urban Entrepreneurship. “As a result of that summit, we affected federal policy,” she says. “President Obama proposed some initiatives that were successful in helping small and medium-sized businesses.”