The "Hook Up" Hurts Black Entrepreneurial Growth and Profitability (792 hits)
From DanteLee.com Blog Long ago, it was discovered that African Americans don't support Black-owned businesses. Sadly, one major reason why is because too many people want the "hook up". Instead of paying for products and services, they want it free - whether it be family, friends, or sometimes even colleagues.
Alfred Edmond, Jr. of BlackEnterprise.com recently wrote a great column about this. He writes: "One of the biggest drags on black entrepreneurial growth and profitability is the "hook-up": black people expecting other black people to provide them with free goods and services just because they're black. We need to stop it. Today." I completely agree. I've seen this a million times. People forget that the whole point of being in business is to make money. Instead of supporting a Black-owned business, they want a freebie. Not only does this hinder a Black-owned business from growing, but it can also make them go out of business faster.
Edmond further writes: When I find a Black entrepreneur or professional who provides goods and services I like, I pay for those goods and services — period. I know that there are costs associated with providing a service and making a product, a cost they can only recoup by selling at a profit. I don't want them to hook me up with free stuff. I want to hook them up with my spending, because then they can really hook me up, by creating jobs, growing the local tax base, supporting community organizations, doing business with other black entrepreneurs and professionals - or just having enough money and a predisposition to reciprocate, to buy goods and services from me and mine.
