According
to research by Anita Diggs of Warner Books, the Black community
spent $300 million in books but there are so few bookstores. We
bought $3 billion in computer and computer related products but
how many computer stores do we own?
In NYC city alone, reported radio personality Bob Law, Blacks
spent over $60 billion but have too few businesses in that
metropolitan area. We account for a 33% surge in Internet
users, but how many big Internet companies are our businesses? And
the list goes on. We are consumers and not entrepreneurs despite
an earlier history of owning our own. But today, many Blacks are
trying their hand at business ownership. With the advent of the
Internet, we can do business with the world.
Have
you thought of starting a business? Well, join the crowd.
According to the Bureau of Labor Statistics, more than 10 million
people are business owners or considered self-employed. Between
1997 and 1998, there was a 15% increase in the number of people
who considered themselves self-employed. Americans are starting
businesses at a rate of 2 million per year.
Because
starting a business is a very complex procedure, here are a few
tips:
Are You
Right for Business Ownership?
Before starting a business, you should determine whether entrepreneurship
is for you. The Small Business Administration (SBS) considers
motivation, desire, talent, skill, and discipline and hard work as
a few of the key prerequisites. But there are other factors. Do
you have the financial resources to start a business? Do you have
a support team in place? How are you management skills? Can you
persevere despite the rough times? Can you work 12-14 hour days on
the business of your dreams? Are you disciplined to follow through
and get the job done?
To
better help you determine if you have what it takes to become a
business owner, go to the SBA’s site www.sbaonline.sba.gov,
and read the information in their “How To Start A Small
Business” section.
Getting
the Information:
Before beginning down the road to becoming a business
owner, you should get as much information as possible. Below you
will find useful resources. You should, however make sure that you
have given a great deal of thought about your business. If you do,
they can be of better service to you.
- NY State Business
Development Centers-
The SBA and Small Business Development Center began a national
network of business development centers in 1977 to offer small
business owners with information, counseling, solutions to
technical problems and more. Presently, there are 56 lead
SBDCs in the country with 1,000 satellite offices. Generally
speaking, these centers are located at local colleges and
universities. To find a center near you, call 1-800-U-Ask-SBA.
- SCORE-
The
Service Corps of Retired Executives (Score) is an organization
of volunteers who counsel business owners, and has provided
assistance to 300,000 people. There are more than 384 offices.
To locate one, go to their web site www.score.org
or call 1-800-634-0245.
- Local Unemployment
Offices- Some
unemployment offices may have programs for entrepreneurs,
providing workshops. Check with your unemployment office for
details.
- Programs for
Women-
For women who want
to start businesses, American Economic Development
Corporation (AWED) can be very helpful. They offer
telephone counseling, have a hot line, as well as give courses
and short-term training. Their address is 77 Vanderbilt
Avenue, Suite 320, New York, NY 10169 or their phone number is
(212) 692-9100. Also write to the National Association of
Women Business Owners at 1411 K Street, N.W., Suite 1300,
Washington, D.C. 20005 or call their information service line
at 1-800-55-NAWBO or go to their web site at www.nawbo.org.
- Programs
for African Americans-
For African Americans and other people of color, there is a great
deal of assistance available.
- The National Minority Supplier
Development Council offers minorities opportunities to connect
and do business with major corporations. Their regional
offices have certified and matched more than 15,000 minority
business owners with 3,500 member corporations. Contact them
at their web site www.nmsdcus.org,
or write to them at 1040 Avenue of the Americas, 2nd
Floor, NY, NY 10018. The Workshop in Business Opportunity for
minorities provides a 16-week free course that gives participants
information on various aspects of business ownership. And
these workshops are held in all boroughs except Staten Island.
To contact them, call (212) 982-5200 and ask for WIBO.
Or go to their web site www.wibo.org.
If
you want to make sure that your business is successful and lasts,
take the time to find out as much information as possible. When
you do, you will find the road to entrepreneurship much
smoother.
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