U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-21-2018, 11:34 AM
 
Location: Aurora Denveralis
4,060 posts, read 1,367,067 times
Reputation: 5735

Advertisements

Quote:
Originally Posted by ClaraC View Post
It's not surprising at all that they succeed. Look at their basic personality.
"The cowards never started, and the weakings died along the way." - said of the westward expansion, but true of nearly any immigrant or movement of immigrants. The idea that only the dregs of a nation emigrate and that that's somehow the easy, lazy option is the mark of a mind that slept through high school history and cut civics class altogether... but is the most vigorous of flag-wavers.
Reply With Quote Quick reply to this message

 
Old 12-21-2018, 12:09 PM
 
Location: Canada
5,295 posts, read 3,768,114 times
Reputation: 13911
Quote:
Originally Posted by charlygal View Post
CD does not have a large number of Black people posting. Hence, most comments won't be representative of the reality of Black life in America.

I suspect this thread is a back handed attempt to disparage Black people.
I was actually thinking the same thing. The OP is new here and maybe he/she thought of throwing a little dig at BP.

We'll see if he/she even comes back to say thanks for all the great ideas and answers.
Reply With Quote Quick reply to this message
 
Old 12-21-2018, 12:41 PM
 
49 posts, read 11,024 times
Reputation: 112
Quote:
Originally Posted by charlygal View Post
CD does not have a large number of Black people posting. Hence, most comments won't be representative of the reality of Black life in America.

I suspect this thread is a back handed attempt to disparage Black people.



I am a black person posting on threads here at CD. I don't really feel disparaged. Should I?

Yes, there are many black businesses. Still, go into any black community and you will find most Asians and Arabs owning and running the shops. They had to start somewhere. That start has a lot to do with MONEY. Of course, what else?



In my experience as a black individual, I have noticed several things.


- Many of our families are either too spread out and disinterested in self-employment. Plus, many of us end up being caretakers for family. Care-taking of children and/or sick family members can take up a whole lifetime.


- Other people do not really support black businesses. They might do so as a kind gesture but when it comes down to it, they just don't feel the need.


- We tend to be underemployed, not much exposure to the world outside of our own communities (when this does happen, it is more often than not a negative experience), and because of this, have a very difficult time acquiring skills to get ahead in life.


- If you do not have some sort of vision, credit stability, family with a good amount of financial worth, and a potential customer base, banks are not going to lend to you.



These are just a few reasons.
Reply With Quote Quick reply to this message
 
Old 12-21-2018, 12:58 PM
 
Location: Aurora Denveralis
4,060 posts, read 1,367,067 times
Reputation: 5735
I don't see it that way. It's a difficult topic to discuss without getting into racial overtones, if not outright racist notions, but there's nothing in the OP that isn't largely true. Most businesses in disadvantaged areas that are not chain/remote ownership are owned and run by immigrants - for all the reasons that have been thrown out here. The troublesome question that's being dodged is why more independent businesses in predominantly black communities aren't black-owned... and that's a minefield a venue like this should avoid.
Reply With Quote Quick reply to this message
 
Old 12-21-2018, 01:13 PM
 
3,801 posts, read 2,976,765 times
Reputation: 12230
I think the OP already has the right attitude, the want to do it. Secondly, is education. As he stated, he doesnt know how to do it even if he had the funds to do it.

I have always thought a good education is the key to improving ones self, and I believe it in this case. You wont be able to buy and run a business, until you know how to do it. There will always be money available for a start up, if you can prove to people that you have the know how to do it.
Reply With Quote Quick reply to this message
 
Old 12-21-2018, 01:30 PM
 
6 posts, read 1,121 times
Reputation: 11
Quote:
Originally Posted by BlueZircon View Post
I am 24, black, and live and have lived in majority black neighborhoods. I find it a bit embarrassing to notice that many owners of businesses large or small in majority black neighborhoods are not owned or run by black people. Personally, I know next to nothing of economics, credit, and managing businesses overall.

Finance-wise, how or why did so many non-blacks manage to run nail salons, gas stations, restaurants, supermarkets, etc in black neighborhoods?

My intent is not to offend people but to seek advice on what can we as black people do to step up economically in terms of ownership and credit. I assume you have to have good credit, but what are some specific step-by-step guides in terms of the necessary paperwork such as licensing and permits, or if a degree is necessary, on owning and starting a business like a nail salon, beauty supply store, gas stations, restaurant, etc.

I live in the Miami, Florida area if that matters.
I have an assumption that the number of white financiers is greater than the number of black financiers, due to the fact that black people less often prioritize this profession. At least statistically.
Reply With Quote Quick reply to this message
 
Old 12-21-2018, 01:37 PM
 
184 posts, read 133,864 times
Reputation: 129
Quote:
Originally Posted by Quietude View Post
"The cowards never started, and the weakings died along the way." - said of the westward expansion, but true of nearly any immigrant or movement of immigrants. The idea that only the dregs of a nation emigrate and that that's somehow the easy, lazy option is the mark of a mind that slept through high school history and cut civics class altogether... but is the most vigorous of flag-wavers.
Among Korean immigrant shopkeepers you'd be shocked at how many of them have phd's in biology and other subjects who are running little shops because they can't find a job. People who went to the equivalent of Harvard back home, or were successful managers at large companies but got downsized and couldn't find another job.

So, they are in survival mode. They have no option but to do whatever it takes to succeed so their family can have some kind of normal life and their kids can get an education. Hoping their kids can get their American dream.

Of course not all of them are well educated. And not all of them succeed. Many fail and just have to try to keep finding something that will pay enough to support a family.

Many will latch onto another family member who owns a business and learn the ropes and buy a similar business with the help of that experienced family member. They don't have that much cash so often times they will buy an affordable cash flowing business in a more affordable neighborhood.

OP, if you don't have family running small businesses go to church and find some church members that do. That is the other way. Adopt one of them and let them get to know you. Most people want to help. You just have to find the ones that can relate to you.

Good luck.
Reply With Quote Quick reply to this message
 
Old 12-21-2018, 01:39 PM
 
Location: Brooklyn, New York
3,335 posts, read 3,563,170 times
Reputation: 2979
Quote:
Originally Posted by Hilkan View Post
I have an assumption that the number of white financiers is greater than the number of black financiers, due to the fact that black people less often prioritize this profession. At least statistically.
If your business is sound, everyone will lend you money. Nothing to do with white or black. There are not a lot of Indian or Arab financiers either. All bankers care about when they are underwriting a loan is your financial statements and cash flows. Setting up an LLC or incorporating is not a lot of money, and is pretty easy. Even in most expensive states its like ~$300-$500 bucks when all said and done.

The Jews are a special case, so people shouldn't really bring them up. Historically Jews were banned from being farmers (because owning land was the most important thing in feudal societies, farmers were higher social status compared to merchants), and most professions were restricted to Jews. The only professions that were available to Jews were in medicine, legal, scholarly, or blacksmithing/finance fields, that happened to become very important after the Renaissance and Industrial revolution as the emphasis on farming/agriculture declined. Since Jews, until recently, never had a homeland, and kept being repressed and kicked out of one country after another, they were the first group of people to undergo globalization. Also, when you are constantly being driven out, or your processions are being confiscated every generation, it helps to develop skills that are all in your head and are not tied to any particular land or location. They have international network and connections with strong and supportive community and institutions.

Last edited by Gantz; 12-21-2018 at 02:17 PM..
Reply With Quote Quick reply to this message
 
Old 12-21-2018, 01:50 PM
 
Location: Aurora Denveralis
4,060 posts, read 1,367,067 times
Reputation: 5735
Quote:
Originally Posted by Peter5457 View Post
Among Korean immigrant shopkeepers you'd be shocked at how many of them have phd's in biology and other subjects who are running little shops because they can't find a job.
I can beat that. My youngest two went to a fairly exclusive suburban private school for their elementary years (best choice, given that most California schools weren't suitable for my dogs, much less bright kids). The vast majority of parents were of a peculiar stripe - from the upper middle class, obviously, but of that kind where their father drove a pickup and called himself a builder, whereas they drove matching Escalades and were a "developer." Nouveau riche doesn't quite describe it. I'm sure other areas not so fueled by endless residential development have their types as well.

Anyway, in the "out" circle of parents (with us) was a quiet Vietnamese man of middle years. His daughter and ours were besties. It took us two full years to learn that, besides being a boat-person immigrant who now held a high position with a global tech firm, he held three PhD's... one from East Germany, where he qualified for state sponsorship back in the day, one from Sweden (in the chaotic years)... and one he had worked his way through Stanford as a post-post-grad when he was establishing himself here.

That whole situation has so many learning facets I am still finding them.
Reply With Quote Quick reply to this message
 
Old 12-21-2018, 03:31 PM
 
Location: Midwest
3,891 posts, read 6,828,203 times
Reputation: 6206
Quote:
Originally Posted by BlueZircon View Post
I am 24, black, and live and have lived in majority black neighborhoods. I find it a bit embarrassing to notice that many owners of businesses large or small in majority black neighborhoods are not owned or run by black people. Personally, I know next to nothing of economics, credit, and managing businesses overall.

Finance-wise, how or why did so many non-blacks manage to run nail salons, gas stations, restaurants, supermarkets, etc in black neighborhoods?

My intent is not to offend people but to seek advice on what can we as black people do to step up economically in terms of ownership and credit. I assume you have to have good credit, but what are some specific step-by-step guides in terms of the necessary paperwork such as licensing and permits, or if a degree is necessary, on owning and starting a business like a nail salon, beauty supply store, gas stations, restaurant, etc.

I live in the Miami, Florida area if that matters.
^^ Hard work. Work hard. Long hours. Work hard. Big family works hard. Common goal, long term goal, someone's the boss.

If I do this, my kids won't have to.

Stuff like that.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top