Economic Empowerment

I recently read a compilation list of the top 10 things African Americans should do, and I couldn't agree more with the following recommendation:

Start a business. In the bestseller "The Covenant", author Tavis Smiley urges blacks to start their own businesses. Why? A business is the one thing that can boost the economic wealth of a group or community. We've seen it done by our Asian brothers and sisters. So, it's our time now. Go to www.businesslicenses.com to obtain a license to sell and then get down to work. Even if it doesn't directly impact your own wealth, it will improve the well-being of your legacy.

Amen, I concur 1000%. We, as a community, have fought on the battlefield to end slavery; we have created organizations to fight for our judicial rights; we have boycotted to achieve equal social status; and, we have marched on congress to demand political rights - yet too many of our communities in city after city, rural area after rural area still suffer from poverty, crime, ignorance and high unemployment.

However, I am encouraged by the growing entrepreneurial spirit among African Americans. A recent report issued by the Census Bureau suggests:

The report, "Survey of Business Owners: Black-Owned Firms: 2002," says that between 1997 and 2002, the number of black-owned businesses in the United States rose 45 percent to 1.2 million, while the combined revenue increased 25 percent to $88.8 billion.

Each ethnic group that has voluntarily immigrated to America quickly learns the correlation of economic growth to improved status in this country. These immigrates understood that language, racial, religious and cultural differences could be overcome by creating a strong economic base. The wealth accrued by economic development allowed them to send their children to the nation's top prep schools and universities. At these institutions their children learn to become the power brokers of our society and the world beyond.

Do your homework, develop a plan and start a business - let's build a strong legacy for our future generations!