February 15, 2010 | In: credit card
Black Business – Start Your Own Business

Starting your own business requires a lot of thinking. The choice of starting a business must be made carefully because the entire business outcome depends on it. One should take time, consider all the various aspects that are required to choose the right kind of business that the person wants to start. The person must take into account his personal expertise, management skills, and financial capacity which will guide him in making this decision. One should also consider his interests, talents, knowledge and resources while taking the decision of the choice of business he wishes to start.
The business started or owned by black people is commonly known as the black business. The black people, or I may say, black entrepreneurs are the people who have gained reputation in many parts of the world by gaining reputation and taking their black business to great heights. At the initial stage these black entrepreneurs have done great thinking and chosen the best possible black business that would like start and nourish.
However, much depends on timing, location, hard work, and luck for the black business to flourish. Thorough research of your business and industry must be done at the initial stage to make the business a success. Careful planning of the resources is very much important in the black business. The black entrepreneurs must be capable of handling its resources with ease and with intelligence. Various studies have shown that careful planning and objective evaluation will increase the chances for a successful black business. It is up to the black entrepreneurs to develop the plan for the black business which determines the initial cost and other investments. There are several ways to finance a black business including personal savings, loans from relatives or friends, traditional loans, government loans, venture capital, etc. The government provides government loans in the form of guarantees through local banks. In most of the cases a loan will require collateral and a convincing business plan. Grants provided by governments are rare and only available for limited, specific enterprises so the black entrepreneurs should keep these factors in mind before setting up their black business.
There are various factors which one should consider after the black business has been set up. These can lead to success in the black business for the black entrepreneurs. A group of well trained and enthusiastic employees must be present in the organization which would take the organization to greater heights. The black entrepreneurs must be careful in choosing the employees because this can lead to the growth as well as downfall of their black business. After all, the employees are the biggest assets of the organization.
The black entrepreneurs work with complete dedication to take their black business to greater heights and gain popularity in the region thus making their family, friends as well as their employees proud of themselves and the black business they are associated with.
Question about business
What business field should i study for to become an entrepreneur?
i start college in the fall and im pretty sure i wanna study business.
i want to open businesses, buy apartment buildings, etc. But the term business is too vague. What is the subfield that teaches you how to open/maintain your businesses?
Black Business – Start Your Own Business.
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Ankur Sharma is an Executive with Wensil i Technologies.
18 Responses to Black Business – Start Your Own Business
mslovely1000
February 15th, 2010 at 9:24 am
Teach people to read and write. There are lots of people in all walks of life that need to be able to read and write in order to further their education. You could charge by the hour or have a group setting of up to 10 people. Let the school district know that you are doing this and many parents of school age children who didn't know about this opportunity might sign up.
Wordpress
February 15th, 2010 at 10:05 am
@345bambi
but in a very smooth way you are trying to said that we are not a loyal people, and if i dont stop you now you will continue smuggling your Nazi-Fascist ideas here.
Jews want to live in UK, US, or EU because we are human people that born in a country so we belong to a country. If one Jew is born in Us then he is a US citizen, so he live in US and he practice democracy, so under that democracy he is allow to have choices and have double nationalities if he wants. Not all have that
LaLa
February 15th, 2010 at 10:16 am
why do you think the fact that you're black is important in starting a business?
just look up information on starting a business. it doesnt matter what sex/race you are.
WPMixer
February 15th, 2010 at 10:32 am
@345bambi
What is your real comment, stop hiding behind a smooth face and say what you came here to say.
You hate Jews, you think that we should all go back to Israel, by the way what are you doing in Portugal if you are from somewhere else? if we apply your thinking.
or what Germans are doing in the coast of Spain living there, are they also traitors as you trying to smuggler your nazi-facist comments here? or what about British in Portugal? are they traitors as well?
THINK before posting
l_horton4nightfall
February 15th, 2010 at 10:44 am
The best thing to do would be to start at an existing NFP that does the things you are interested in doing. Perhaps your contribution will make the existing location better rather than stretching already thin resources further. Moreover, you may find yourself in a position to actually take over the existing NFP as people move on frequently.
Anonymous
February 15th, 2010 at 12:18 pm
So why is it that the smartest Jews prefer
to live in USA. More presumable Jewish leave Israel then enter it, one is no scraping the barrel getting in Russian
and telling them they are Jewish
Dolkite
February 16th, 2010 at 3:46 am
There is a silly cultural idea that Black people don't know how to run a business. My mother feels the same way. When we go into a Black business, if she receives bad service she never returns. When we go into a white business, if she receives bad service she simply complains about it to me, but continues to use the service.
Black people need to change the prevailing cultural ideas that hold us back. That's why Obama is such an inspiration to us – he can help to break the mental shackles that we so willingly bind upon ourselves.
Anonymous
February 16th, 2010 at 12:17 pm
anyone who becomes an american citisen should remember hisIher loyalty is to USA and not to, say Israel, If a person of Jewish origen is not prepared to do this he/her should not seek citsenship
Free Blog
February 16th, 2010 at 1:59 pm
@345bambi
then where is the democracy? freedom of choice?
your thinking belongs to a dictatorial country and not to a democratic country as US.
It is plenty Americans living in Israel, and this does not mean that they are disloyal to the US at all.
Israel is pretty much a extended state, the amount of mutual work between both exceeds friendship and becomes a unanimity, a mutual exchange of knowledge and forces.
Anonymous
February 16th, 2010 at 6:47 pm
i am a british jew. i am a loyal british citizen. but if UK law said it was illegal to be jewish, i would emigrate. i am jewish first but that doesnt mean i am not loyal to my host country
Blogger
February 16th, 2010 at 11:56 pm
@345bambi
Hitlers plan to annihilate Jews was, to say that they were not pure jews, then to say they were oppressors and that we controlled the world, then after convincing germans in a very smooth way he took their possessions, took their properties and send them to the ovens. This process was not at once but step by step.
What you are trying to do here is similar, you trying to say that Jews should not live in any other country, that we should all emigrate to Israel.
Cynthia C
February 17th, 2010 at 11:07 am
First, I wouldn't buy into what you were told for one second. That information is well wrong and comes from an ignorant perspective.
Second, I'd get really clear about what your skills are and what kind of business you want to start. Research should be the foundation of any decision you make in regards to your business. The internet is a great resource for doing this kind of due diligence.
Then I'd start looking for opportunities on the web and locally. If you interested in franchises, you can find a bunch of websites that offer information on that. If you're interested in network marketing, the same is true. And there are many other things in between.
I'd also strongly consider taking a mentor…someone you know and trust who is successful in business (and especially in the industry/field you're looking to get into, if at all possible). It's helpful to have someone successful to learn from and to emulate.
Business has many rewards and many risks. I am a business owner and I understand that because I see it in my own business every day. The best thing I've done is prepare myself for these risks and rewards by buckling down and doing the research and then making the right choices.
I'd also recommend that you look into your financial situation as you're making this decision. Businesses need money to get off the ground. Most businesses fail due to a lack of cash flow. This is something to strongly consider & to do additional research on. There are many types of loans and grants available for people starting their own businesses. There are even government grants for this (which do not have to be paid back). I know that I have seen several specifically for African Americans, females, and other minorities/categories/etc.
So…in short…figure out your goals, figure out what you're good at and what you want your business centered around, and then study up on it big time!
You can be a huge success! Good luck!
curiousdizzyd
February 17th, 2010 at 9:39 pm
It is hard to find grants to start or expand a business — whether for a minority or not. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for a for-profit business.
Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov – these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.
Even if you buy books on "how to get grants" or list that supposedly has information on grants — all of them are mere rehash of what CFDA has, albeit packaged differently. But still the info is the same – hardly any grants for starting a for profit business.
Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/expanding/grants.html
"The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments."
Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business — THERE'S NONE.
http://12.46.245.173/pls/portal30/CATALOG.BROWSE_BENEF_RPT.show
One grant for minorities is called Minority Business Opportunity Center (MBOC) #11.803 – but the objective is "To promote access to key decision makers in the public and private sectors , facilitate the brokering of contracts and financial transactions, and identify and coordinate local business resources to benefit minority business entrepreneurs." Applicants for this program are Federal, State or local government entities or quasi governmental entities, American Indian Tribes, colleges, universities, nonprofit organizations, and for project organizations.
Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT – Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program
Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs
For private grants, you may want to check the Foundation Center's Foundation Grants for Individuals Online. It's a subscription based website ($9.95 per month) but their opening blurb only says that the database is ideal for "students, artists, academic researchers, libraries and financial aid offices." Entrepreneurs are apparently not one of them, so I take it they also don't have listings of private foundations who give grants to would-be entrepreneurs.
http://www.cfda.gov
http://www.grants.gov
http://gtionline.fdncenter.org
http://www.powerhomebiz.com/vol66/grants.htm
http://www.sba.gov/expanding/grants.html
Tony P
February 18th, 2010 at 12:01 am
Not sure. Sorry
WPBlog Shop
February 18th, 2010 at 1:23 am
yea man! Israeli Military here… Love this video gotta buy the book!
Lori
February 18th, 2010 at 2:29 am
Last year it cost me about 3000.00 to start my business. Which included a brand new Digital SLR and a home studio with lights and back drop. I already owned a home computer and photo editing software. If you do not own those things it will cost you another 2500.
Look on ebay, you can get some really awesome deals.
Sam D
February 18th, 2010 at 4:55 am
Anonymous
February 18th, 2010 at 4:05 pm
and they would be blessedly happy without