Black business has been on the rise for at least 3 years and counting, and does not seem to be slowing down anytime soon. With the emergence of young, inspired entrepreneurs like
Moziah “Mo” Bridges or young toy developer Ayanna Howard founder of the Zyrobotics Zumo Learning System. These young leaders along with you are helping pave our way deeper into the history books. Woman around the world like Ayanna are once again kicking ass and taking names in the business world, with growth rates 6 times higher the national average for African American business woman. Thanks to platforms like Shoppe Black founded by Shantrelle Lewis and husband Tony Lawson, we now have a visual representation of the weight patronizing black businesses could carry.
Does growing black business stop with the buying and selling of black owned consumer goods or services?
We also lead the way in another category. Unemployment, though down from previous years, we are still the man down when it comes to obtaining jobs leading the way by an average margin of 5.4%!
Why is that, where is the disconnect?
Surely with the growth of one the other shall follow. Blackentreprenuer.com gave 6 reasons why they thought black businesses fail within the first 5 years of existence, two of which stood out and seem to be consistent across the board after further research. Lack of delegation and a failure to plan!
What do you expect to happen with your business 10 years from now? Planning for expansion means the buck does not stop with you. In order to effectively grow and mature into the economic powerhouse we envision for ourselves, delegating work task and job duties to hired help is a must… quite simply put – we need to learn to hire more.
Pioneers are the inspiration and the fuel that drive us to new levels. Building generational wealth does not halt with bringing your big business ideas to the table nor does hiring new faces, but structured work environments are a key element to continue our business development far into the future. The goal is to bridge the gap between new business and employment rates to create the balance that it takes for steady growth over the next 7-8 years!