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Old 01-14-2019, 03:14 PM
 
Location: Las Vegas, NV
2,743 posts, read 7,544,546 times
Reputation: 1083

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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.
Every think about running a Barbershop? You do not have to know how to cut or style hair but you would have to know how to manage your Barbers as independent contractors (they would not have to be black). I would think you can cater to the black clientele and get some loyalty by making it comfortable for them to come and get a hair cut.
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Old 01-15-2019, 10:09 AM
 
2,967 posts, read 1,324,805 times
Reputation: 2283
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 work for a privately run company and they were asulum seekers from Europe. They started as a family business, labored hard and now successful enough to even run an 3 companies of their own.

I always use the same person for moving my stuff. He hires other Black men to do their job. You should look at that option. YOu just need a decent truck and some moving tools to get started and even do it part time . Even better, you should look at getting some education and a job that pays the bills before moving full time into business.
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Old 01-15-2019, 12:10 PM
 
9,637 posts, read 4,109,944 times
Reputation: 14421
Quote:
Originally Posted by BlueZircon View Post
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.
Not really, personal credit has nothing to do with a business loan. Knowing how to navigate the legal system and putting a business plan/proposal together is what banks look for.

Minorities other than blacks, tend to be immigrants, meaning they got a crash course in learning to navigate the legal system to get here. Family businesses also pass it down. But it is a pooled knowledge that is lacking in many black communities. They do it the DIY method, lots of trials and errors meaning personal expenses/bankruptcy. Like they treat it like a startup without ever looking for outside funding sources to grow business
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Old 01-15-2019, 05:42 PM
 
4,452 posts, read 2,365,227 times
Reputation: 3803
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.
Uh it's because they try, come up with a business plan, and then put in the work?

It's pretty simple actually.
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Old 01-19-2019, 11:56 PM
 
1,891 posts, read 656,617 times
Reputation: 1947
Start by learning everything you can about the field in which you want to get into and business ownership in general(the information is free online), Save a substantial amount of money(tens of thousands of dollars)work 2 or 3 jobs if you have to, build credit, Under no circumstance **** up your credit while learning and saving you’re going to need access to more capital, formulate a business plan. If you want to be really forward thinking start building relationships with important people in your area(business owners, bankers, politicians, etc).
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Old 01-22-2019, 12:55 PM
 
4 posts, read 535 times
Reputation: 11
Don't worry about something that's just getting worse and never will improve. Just follow your own dreams. Find out which business you're interested in and take the necessary steps immediately to get there. You can do it!
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Old 01-22-2019, 01:12 PM
 
Location: Boston
5,802 posts, read 1,712,636 times
Reputation: 4274
they are willing to work long and hard
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Old 01-24-2019, 03:30 PM
 
4,431 posts, read 1,826,557 times
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Spike Lee had some pungent commmentary on this.



https://www.youtube.com/watch?v=ZUbvT6YKPzk
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Old Yesterday, 01:26 PM
 
4,453 posts, read 3,013,069 times
Reputation: 4263
Quote:
Originally Posted by aileesic View Post
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.
As a black male myself, I come from a small family with very little financial stability. In my immediate family it's myself and Uncle who have financial stability, and were 2.5 hours apart from each other. Also, there's a plethora of black women raising children without the support of those children's fathers. Black people also struggle greatly with the crab in the bucket mentality. Look at how many black athletes never step foot back in the "hoods" they grew up in. They move their immediate family members out and at best put a check in the mail to add a structure in their name in their neighborhood. However, we're not going to put our hard earned money back in our neighborhoods, because quite frankly, too many people people are disrespectful of people like them doing better than them.

It's tough for black business owners when you don't get enough support from black customers.
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Old Today, 09:49 AM
 
Location: World
3,318 posts, read 3,323,500 times
Reputation: 2229
One should develop a sense of saving money- then you can run a Business and earn money.

Sadly many American people cant save at all !!!! They just want to squander it all and then proudly say - we live paycheck to paycheck.



Indians running Gas Station will bring pulses/pickles/spices from India and cook them to feed their stomach. They dont spend money on restaurants or church. They run their old Toyota Camry cars bought 15 years ago. Saving is earning which will be invested is what make them successul.



Poor American guy will spend his money on costly liquor, lottery ticket, doughnut on these stores only without ensuring that is it the best deal ??
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