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Why do Blacks not Support other Black Businesses?

Richelle Shaw · Sunday, December 14th 2008 at 2:54PM · 225 views
As the only female African American public utility owner in the nation, who built my first company to $36million and my second to over $2.5 million in less than 5 months, I used to be overwhelmed at why my Black customers would be taken aback at the fact that I was the owner. For the first 5 years of owning my business I decided to hide the fact that I was the owner. I even, would say that I was the receptionist in order to make sure that the Black customers would not be so judgemental and continue to support my business. Do you think I was crazy?

I finally decided that I would just come out and be proud. After completing an informal survey, I can share with you what I discovered from their answers on my free webinar on Tuesday.

Why Black Businesses Are Struggling?
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Free Lunch & Learn Webinar: Discover the Top 5 Reasons Why Blacks Don't Support Your Black Owned Business

Title: Why Black Businesses Are Struggling?

Date: Tuesday, December 16, 2008

Time: 3:00 PM - 4:00 PM EST


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Richelle Shaw Las Vegas, NV
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Comments (3)

Marta Fernandez Sunday, December 14th 2008 at 9:18PM

As an anthropologsit I am really curious to see what this survey reveals..then I will discuss my observations over a 30 year span..I tend to agree with the above gentleman, something does not ring right.!!

Marta Fernandez Sunday, December 14th 2008 at 9:32PM

I just looked at your website..will do some research..very curious at to this utility ownership..thanks for the info..though I won't be enjoining any get rich initiatives of this sort. But thank you again. I know that Black folk don't like to get bamboozled that's for sure!! it appears the header is aimed at soft psychology to
become your clients...

Richelle Shaw Sunday, December 14th 2008 at 10:58PM

Thanks for the comments, actually - I was asked this question last week on a radio show where I was interviewed on building a million dollar business. I was asked it again when I was interviewed in Black Enterprise and Entrepreneur magazine. I had specific answers which detailed what I experienced but I thought that this would be a great place to open the forum and see what others are experiencing.

I actually participated in a study with the Center for Women's Business Research on why women of color - who open businesses 5x more often than any other race, have a hard time reaching the million dollar level. As a featured panelist for Women of Color Conference, I believed that it was more than just access to capital - especially since I had no funding, no SBA nor any investors to build my company. One of the subjects was this topic.

So before you say shame on me... Stats show things are not that much better and my sponsor who asked me to coach women of color - asked the same question.

My coaching program for women of color is actually deeply discounted because of my national sponsor. So - actually, I don't need anymore clients, especially since I already own a multi-million dollar company.

I am anxious to read if any one has any other opinions?

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