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That's so true. Here is why? 1. Inventory costs more . we don't own the factories ETC. 2. Black business have to go thru red tape for licenses. Then vendors alway's play waiting games on inventory. Other races don't have this problem they open their doors sometimes before they even have all their licenses. Inventory is credited without any hassles ETC.
I think that maybe in black owned food businesses, the prices will be higher and in some cases, the quality is worth it. However in this specific areas of Jamaica, Queens NY there are many businesses that were once black owned. Now owned by Arab and Asian people. I don't know the reason why they sold their stores. There is one black female owned grocery store currently being threatened by neighboring stores, for helping young mothers in the community. If her store has been broken into many times when no other store has and she has been accused of false accusations just because of an increase of black people supporting her store and shopping there. I could just imagine the threats and obstacles that black business owners have been or will be subjected to. We can stick together its a matter of choice.
Great point. Hispanics has shown what unity and support can do. In every positive catagory they poll ahead of us. One reason alone. THEY WORK TOGETHER. i have some shocking info. that I share later. If we don't get this point it won't matter any way it's amost to late. Thanksl
Hershe, girl, you are on to something here. I am happy to see you speak out about this because this is why I am a black business advocate. In fact, I formed a group Black Business Awareness to counteract this problem.
The latest stats I have on our buying power is that we have over 1 trillion dollars. No wonder advertisers love to market to us. Unfortunately, most of us don't realize it. Thus, the money bounces only once on average in the black community compared to 8 or 15 times in others. My group was formed to raise awareness of this. You should join and share your insights.
I forgot to add that it doesn't have to be like this. If you're reading this post and are looking for a solution, you're at the right place at the right time.
The solution to black business failure begins with the Black Business Builders Club. http://www.blackbusinessbuilders.net
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Hershe, I agree with you, somewhat! First I agree with you that we are not supportive enough of each other, but I believe there is a reason for that and my friends and I have discussed it and we all have the same reason. The reason is for whatever reason, black businesses always tend to be more expensive than other businesses in the area. I live in the Los Angeles area and would love to support black business but let's take for example food, you can buy Chinese, or Mexican for under $5.00 but the Black American food is about $10.00. The same with clothing and the super market, etc. so black businesses have to understand that the in a recession, you have to lower your prices in order to attract customers. Everyone is looking to save that dollar and will go anywhere to save it. That's my problem with black businesses. On the other hand we have to learn to help each other and give back to the community that helps us, this we do not do. So until we learn to give back, yes 50 years from now we will still be the same.