More importantly, however, what does it imply for the state of racism and the "oppressed black man" in this country? What ground is left for demagogues like Jackson and Sharpton.
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.
That, and the preferential treatment the US gov't requires be given "disadvantaged" and minority-owned businesses.
I personally know of one company which was set up to appear to be owned by a minority woman (she was really just a shill) expressly for the purpose of taking advantage of government contracts (and contractors). Surely that happens more than we'd like to know.
Sure, the SBA and its state and local equivalents have some assistance, financing and contracts available to Black/minority entrepreneurs that Whites cannot access. The truth is, though, it's not a lot, requires more red tape than it's worth much of the time, and provides no guarantee of long-term success. Therefore, most Black businesses get started and rolling without such help. There's no way in the world someone Black should start a business just because they can get goodies from Uncle Sugar. As a consultant to almost exclusively Black-owned businesses, I'd never advise doing that in a million years- it simply doesn't work that way, no matter how much the "angry white male" whiners think it does.