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.

[rdb3]

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.

Well I'll be! I fall squarely in the middle of this age range, and I've started my own business.

Interesting.

[rdb3]

hmmmm, and bet they're not even counting the corner dealerships.

"Corner dealerships?" Could you elaborate, please?

[rdb3]

Couldn't possiby be that the SBA is throwing money their way, could it?

That's the first thing that crossed your mind, wasn't it?

Typical.

FWIW, I started mine out of our savings and used networking and business relationships I had formed while in corporate America to get off the ground. So far, so good.

I never even thought about the SBA.

[rdb3]

You'd think that these entrepreneurs would be a natural GOP constituency, seeing the DemocRAT nanny-state regulations as an impediment to their businesses' growth. On the other hand, maybe they just want to jump onto the RATs' crony capitalism gravy train.

You were doing very well until your "maybe" statement.

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

[bert]

A corner dealership is a small business selling drugs.

[rdb3]

SHEESH.....like someone else said, because the government gives them MONEY TO START BUSINESSES......and not to WHITE guys!!!!!

Nope. We can't possibly begin a bitnezz without the good ol' gubmint. We black folks just he'pless without 'em. < /sarcasm>

[rdb3]

With the vast majority of loans and set-asides for minority owned businesses, this is just incredible!

Maybe you didn't read the same article I did. I read it posted here, then clicked the originating link and read it there to be sure. Nothing was said about either the SBA or any set-asides.

Where are all these knee-jerk assumptions coming from?

[Roscoe]

They're really crawling out of the woodwork today.

[ikka]

How many fail after 3 years? 5 years? What is the average revenue of such businesses vs. those owned by whites?

A guy who does lawnwork or owns his own truck is counted as one business, same as IBM.

[rdb3]

Small Business Association loans given to minorities and women!

Where did you read that in the article?

[rdb3]

Bingo- Being a "minority" or "women owned" business has many advantages over a "white male" owned business. For example- funds are avaialble for startup costs that are not available to white men. Low interest loans, tax deductions and exemption from even environmental regualtions that whites are not exempt from. Not to mention outright preference in the awarding of most state contracts and all federal contracts. Of course their are ways around this- like making a minority or woman the nominal owner of the company or a significant shareholder. Such "strawmen" owners are more and more frequent and front for white male owners. The most blatant example of this is Fidelity Investments- the largest privatley held investment firm in the country started by Ned Johnson. It is now technically listed as a "woman" owned business with his daughter as the nominal "owner."

Where are you getting that in the article?

[rdb3]

A corner dealership is a small business selling drugs.

I want to hear it from wattsmag2. He/She said it.

[wattsmag2]

"Corner dealerships?" Could you elaborate, please?

You really have no idea? We had plenty of them in the mountains where I grew up, 'cept they sold moonshine. Would think a city dweller would have noticed something.

[mhking]

So may I presume that in your mind, the only way (outside of government intervention) that a black man can start his own business is to become part of the illegal drug trade, specializing in street-corner sales?

[wattsmag2]

I want to hear it from wattsmag2. He/She said it.

You want to hear what? The Truth? Drug dealers, prostitution rings, theft rings, scam artists. The kind of thing that plagues all poor neighborhoods because people are afraid to remark about or confront it.

[rdb3]

No, I wanted you to come right out and say it.

All we do is sling crack, right? That's our business, huh? We just steal, deal narcs, or rob. There's just no way in hell that we can do something like this on our own, right?

Heh. You ain't said two words to me. But your assumptions and stereotypes are flying high!

[PBRSTREETGANG]

Good for them.

[wattsmag2]

No, you may not presume that at all.

[FreedomPoster]

We black folks just he'pless without 'em.

LOL - I can hear Cleavon Little saying it. (I think I have the name right - Blazing Saddles guy).

There are a lot of idiots out playing today.

[mhking]

What ground is left for demagogues like Jackson and Sharpton.

Less and less every day. They're a bit like Wyle E. Coyote standing on the edge of the cliff, with the ground breaking beneath them. Soon (one hopes), they'll hold up the little sign that says, "Help!" just before they plummet into the abyss all by themselves.