Many black business owners are in the first generation of their wealth building journey. They don’t have a history of entrepreneurs in their families they can consult with. Many of their businesses are starving of capital because white banks won’t loan them money.
They also struggle to generate revenue because they get virtually no economic support from whites, Asians, Jews, Arabs or other ethnic groups who are deeply committed to supporting their own.
While all of these pressures exist for black business owners, these problems are only compounded by the fact that the black business owner is also receiving discrimination from his/her own people!
There are millions of black people who will gladly buy from a white owned company, but don’t consider black owned businesses to be worth their time.
Even worse, I’ve seen many situations where the people complaining the most about a black business owner never reached out once to offer a hand of support to that business.
So, some of our people will reach out to tear you down, but won’t reach out to lift you up. This is the nature of the toxic economic soil that many of our business owners are forced to confront.
In other words, we must do what is necessary to change the culture. We must find a reason to support our own.
Dr Boyce Watkins