Blacks 50 percent more likely to start company than whites, study says

Associated Press ^ | 9-25-02 | JANET WHITMAN, Dow Jones Newswires

[Oldeconomybuyer]

NEW YORK (Dow Jones/AP) -- African-Americans are 50 percent more likely to try to start their own business than whites, a new report found.

In particular, it shows African-American men between the ages of 25 and 35 with graduate-school experience are the most likely to start a company in the United States today.

[Jumper]

Did not have to read it, I've worked with Transition Services for Military getting out and with a State Employment Security Commission - almost any one can get a loan, almost:)

[wattsmag2]

Welfare Reform 1996. Remember that? Resulted in over half the total decline in welfare recipients and 60% increase in single mother employment.

[shaggy eel]

,,, one of the few decent things that came out of Klinton's two terms.

[wattsmag2]

Yes, but without Klinton, it would have come sooner, and been tougher.

[bat-boy]

I know several "family" businesses that are "run" by the man of the house but "licensed" by the woman of the house specifically for tax purposes. Or, licensed by the "minority" woman, if you can squeeze both benefits into play.

Actually it's worse than this. They actively attempt to get you to manipulate the program in such a way. For example, I took some SBA courses that our local community college was having. Once they found out my wife was Korean, they tried real hard for me to get her to attend the classes and apply for a SBA loan.

They did not understand that I was just there to get some business knowledge, not to apply for a handout. It really offended me. It reminded me of an article I read not too long ago about how the food stamp folks are advertising for new people

[Myrddin]

African-American men between the ages of 25 and 35 with graduate-school experience

How many African American men actually get admitted to graduate school? The last time I checked, the figure was around 2% of the African American men that graduate with a 4 year degree. It's a small number in absolute terms. Couple that with the propensity to invite women and minorities to be the "offical owner" of a business to qualify for special treatment. The story inadequately defines exactly the "whites" and "blacks" who comprise the comparison groups.

[shaggy eel]

,,, that's what I'd heard. BTW, do you know which year Tommy Thomson started the welfare cleanup in Wisconsin?

[rdb3]

How many African American men actually get admitted to graduate school?

I did! Finished, too.

[ravingnutter]

Any large business entity doing business with the Fed Gov must submit a Small Business Plan with goals to set aside procurements for small disadvantaged businesses as outlined in the Federal Acquisition Regulations set down by the SBA, I used to write these plans for our company as a Small Business Liaison Officer. I commend you and the other poster on here for doing it on your own, but the fact remains there are programs out there mandated by the Federal Government that give procurement preference to minorities. I am not saying it is wrong in any way, my only issue has been that the statistics they use for minorities are based on national figures, not geographical areas. For example, San Antonio...dominantly Hispanic, but according to the SBA, who only looks at the national percentages, they are a minority and can therefore get assistance where non-minorities cannot. Well, gotta run...hope these facts will clarify things for y'all...will catch up with you tommorrow...have a good fight....ummmmm....I mean, night, LOL!

P.S. If you are serious about wanting assistance, please contact the SBA

[ravingnutter]

I did! Finished, too.

That's great! I am getting ready to start college next month...at age 44, it is kinda scary...well as I said above, gotta run, just saw your last post and wanted to give you kudos for your hard work! Best of luck to you!

[rdb3]

That's something. I'm of the mind that if I would have went looking for assistance from the feds, I wouldn't still be in business for myself.

Using nothing but my own money made me extremely careful in how I used it. It drove my wife crazy for two months, but she's not complaining now.

[Burkeman1]

Yeah- you can- as long as the law treats people differently according to idiot categories like race or "gender" no one will be judged according to their abilities as an individual. Funny- if the government does it- it is only natural for people to do it as well.

[wattsmag2]

He started in 1992, but had the most success with the advent of the federal legislation in 1996.

[wattsmag2]

Using nothing but my own money made me extremely careful in how I used it.

BINGO!

[Burkeman1]

Perhaps that is a reason as well. But one can't be faulted for thinking outherwise when mulitple laws are in place that give advantages to one group over the other. Were black people wrong to think the "system" was stacked against them when our laws setup disadvantges for them? No- of course not- their analysis was absolutly correct. Is the current situation as bad for whites as it was for blacks? No- I don't think anyone could seriously make that argument with a straight face. But the fact remains- such laws are in place an all black achievement will be seen through such lenses by whites (or other unfavored groups like asians).

[Brush_Your_Teeth]

You'd think that these entrepreneurs would be a natural GOP constituency.

If you remember when the tax debates were going on black small bussiness owner groups supported the president.

[Burkeman1]

If there really were a bias toward minorities then the unemployment rate would be lower amongst them.

That does not follow at all. For example every year colleges compete amongst each other to get black students. They go out of there way to recruit them with full scholarships and lower the standards to patronizing levels. And yet Blacks still don't attend college at the same level as whites. That is a false argument and neglects culture entirely.

[Dialup Llama]

>Yeah, this IS a natural GOP constituency, but what is the GOP doing about it?

There's enough that they've formed a group.
Black Republican Coalition of MN

[HennepinPrisoner]

If I was a minority, I would start my own business as well---because the government would throw money my way to help me start it. Not only that, once I get started, I am guaranteed lucrative contract because of some companies policies (like Shell) that only hire contractors from MWOs.(Minority/Women-Owned)

Alas, I'm just a evil white boy who needs to stay at his corporate job so he can pay taxes so that even more minorities can start their own businesses.