Business

To Grow Black Businesses, Think Big

Jacksonville Free Press — Our national economy is barreling ahead, but at the same time millions of people are being left behind.

Published

5 years ago

March 19, 2019

Staff

By Charles Griggs

“Systems are perfectly designed to achieve the results they are achieving right now. At first glance, when we look at how dysfunctional existing systems can be, this premise seems absurd.” – David Peter Stroh

Our national economy is barreling ahead, but at the same time millions of people are being left behind. Poverty and unemployment rates are down, but these indicators mask the financial tightrope that many working families walk every day. Because of a strong and steady stock market and relatively low unemployment rates, people tend to lose focus on the fact that there are pockets of the economy that are still struggling.

Charles Griggs

Locally, Jacksonville has paid little attention to the indicators that tell the real story of economic opportunity and the damage caused by neglect. The lack of progress can be traced back decades, but we can also look back to the late 90s when minority set asides were targeted for destruction. Once dismantled, the floodgates were open for the “good ole boy” system to reestablish itself without the burden of those “unnecessary” minority business programs.

In fact, when quotas went away they said it would be better for Black-owned businesses.
Has it been? It’s hard to tell.

Some might say the ambiguity is on purpose. There is no real data that explains the success or failure of Jacksonville’s Black-owned businesses. The last attempt at trying to understand the true landscape of these economic drivers was in 2013 when the City of Jacksonville commissioned its Multi-Jurisdictional Disparity Study. The result was recommendations that concluded the City of Jacksonville should do more to level the playing field for small and minority businesses (surprise, surprise).

While the intent maybe there, doing “more” to assist Black-owned businesses can be subjective. It seems that setting goals as a standard for the inclusion of minority businesses is, as they say, “a no-no,” which makes it easier for Blacks to be left behind. Thereby creating barriers for those who dwell on the outer edges of economic opportunity. And when that happens, we miss the chance to improve conditions for people to provide for their families and build better communities.

Given that African Americans make up 30 percent of Jacksonville’s population, it is imperative that the city addresses the harsh economic realities facing its most vulnerable taxpayers. In order to break the cycle, we must address the system that created it with a sense of urgency and purpose. Policy is one way to provide opportunities and level the playing field, but course correction should come with a bigger want and higher motivation.

If we are going to guide Black-owned businesses to a real place at the table, those benefiting from the current system must be willing to risk engaging at a higher level. For example, New York Governor Andrew Cuomo sent a clear message that 30 percent of all State contracting would go to minorities and women owned businesses. One of the high profile outcomes of this effort includes an $8 billion award to McKissack & McKissack, a black-owned construction management company, to oversee the John F. Kennedy Airport Terminal One Expansion Project. Not only is this a tremendous opportunity for a Black-owned business, but it speaks volumes about New York’s commitment to addressing diversity and inclusion.

And while McKissack & McKissack is a more than capable firm, the stakes are high for those betting on their success.

Currently, according to the most recent City of Jacksonville disparities study, there are no Black-owned businesses in the area capable of shouldering a prime position on a major project such as an airport expansion. But it doesn’t have to be that way. Successful business owners who have benefited at the trough of local contracting should see the bigger picture for the community and work to create ways to help grow Black-owned businesses. And while policy can be a way forward, it is not the complete answer.

Civil rights icon Andrew Young believed that the growth of Atlanta’s African American upper and middle class came as result of convincing the powerful elite (banks, government procurement executives and policy-makers) that they would make more money by being inclusive of Blacks. And so it went.

Thinking big to grow Black-owned businesses will take more than policy commitments and set-asides. It will take the will of those who have the ability to be audacious with their attempts to close Jacksonville’s economic gaps.

Think big on behalf of Black-owned businesses, and bigger outcomes will happen for the entire community.
Visit blackoffee.com, email speaktous@8wgroup.com, and follow me on twitter @CharlesLGriggs.

This article originally appeared in the Jacksonville Free Press.

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Oakland Post: Week of April 24 – 30, 2024

The printed Weekly Edition of the Oakland Post: Week of April 24 – 30, 2024

Published

6 days ago

April 26, 2024

Oakland Post

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

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State Controller Malia Cohen Keynote Speaker at S.F. Wealth Conference

California State Controller Malia Cohen delivered the keynote speech to over 50 business women at the Black Wealth Brunch held on March 28 at the War Memorial and Performing Arts Center at 301 Van Ness Ave. in San Francisco. The Enterprising Women Networking SF Chapter of the American Business Women’s Association (ABWA) hosted the Green Room event to launch its platform designed to close the racial wealth gap in Black and Brown communities.

Published

2 weeks ago

April 20, 2024

Oakland Post

American Business Women’s Association Vice President Velma Landers, left, with California State Controller Malia Cohen (center), and ABWA President LaRonda Smith at the Enterprising Women Networking SF Chapter of the ABWA at the Black Wealth Brunch.

By Carla Thomas

The Enterprising Women Networking SF Chapter of the American Business Women’s Association (ABWA) hosted the Green Room event to launch its platform designed to close the racial wealth gap in Black and Brown communities.

“Our goal is to educate Black and Brown families in the masses about financial wellness, wealth building, and how to protect and preserve wealth,” said ABWA San Francisco Chapter President LaRonda Smith.

ABWA’s mission is to bring together businesswomen of diverse occupations and provide opportunities for them to help themselves and others grow personally and professionally through leadership, education, networking support, and national recognition.

“This day is about recognizing influential women, hearing from an accomplished woman as our keynote speaker and allowing women to come together as powerful people,” said ABWA SF Chapter Vice President Velma Landers.

More than 60 attendees dined on the culinary delights of Chef Sharon Lee of The Spot catering, which included a full soul food brunch of skewered shrimp, chicken, blackened salmon, and mac and cheese.

Cohen discussed the many economic disparities women and people of color face. From pay equity to financial literacy, Cohen shared not only statistics, but was excited about a new solution in motion which entailed partnering with Californians for Financial Education.

“I want everyone to reach their full potential,” she said. “Just a few weeks ago in Sacramento, I partnered with an organization, Californians for Financial Education.

“We gathered 990 signatures and submitted it to the [California] Secretary of State to get an initiative on the ballot that guarantees personal finance courses for every public school kid in the state of California.

“Every California student deserves an equal opportunity to learn about filing taxes, interest rates, budgets, and understanding the impact of credit scores. The way we begin to do that is to teach it,” Cohen said.

By equipping students with information, Cohen hopes to close the financial wealth gap, and give everyone an opportunity to reach their full financial potential. “They have to first be equipped with the information and education is the key. Then all we need are opportunities to step into spaces and places of power.”

Cohen went on to share that in her own upbringing, she was not guided on financial principles that could jump start her finances. “Communities of color don’t have the same information and I don’t know about you, but I did not grow up listening to my parents discussing their assets, their investments, and diversifying their portfolio. This is the kind of nomenclature and language we are trying to introduce to our future generations so we can pivot from a life of poverty so we can pivot away and never return to poverty.”

Cohen urged audience members to pass the initiative on the November 2024 ballot.

“When we come together as women, uplift women, and support women, we all win. By networking and learning together, we can continue to build generational wealth,” said Landers. “Passing a powerful initiative will ensure the next generation of California students will be empowered to make more informed financial decisions, decisions that will last them a lifetime.”

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Business

Black Business Summit Focuses on Equity, Access and Data

The California African American Chamber of Commerce hosted its second annual “State of the California African American Economy Summit,” with the aim of bolstering Black economic influence through education and fellowship. Held Jan. 24 to Jan. 25 at the Westin Los Angeles Airport Hotel, the convention brought together some of the most influential Black business leaders, policy makers and economic thinkers in the state. The discussions focused on a wide range of economic topics pertinent to California’s African American business community, including policy, government contracts, and equity, and more.

Published

2 weeks ago

April 20, 2024

Oakland Post

Toks Omishakin, Secretary of the California State Transportation Agency (CALSTA), answers questions from concerned entrepreneurs frustrated with a lack of follow-up from the state. January 24, 2024 at the Westin Los Angeles Airport Hotel, Lost Angeles, Calif. Photo by Solomon O. Smith

By Solomon O. Smith, California Black Media

The California African American Chamber of Commerce hosted its second annual “State of the California African American Economy Summit,” with the aim of bolstering Black economic influence through education and fellowship.

Held Jan. 24 to Jan. 25 at the Westin Los Angeles Airport Hotel, the convention brought together some of the most influential Black business leaders, policy makers and economic thinkers in the state. The discussions focused on a wide range of economic topics pertinent to California’s African American business community, including policy, government contracts, and equity, and more.

Toks Omishakin, Secretary of the California State Transportation Agency (CALSTA) was a guest at the event. He told attendees about his department’s efforts to increase access for Black business owners.

“One thing I’m taking away from this for sure is we’re going to have to do a better job of connecting through your chambers of all these opportunities of billions of dollars that are coming down the pike. I’m honestly disappointed that people don’t know, so we’ll do better,” said Omishakin.

Lueathel Seawood, the president of the African American Chamber of Commerce of San Joaquin County, expressed frustration with obtaining federal contracts for small businesses, and completing the process. She observed that once a small business was certified as DBE, a Disadvantaged Business Enterprises, there was little help getting to the next step.

Omishakin admitted there is more work to be done to help them complete the process and include them in upcoming projects. However, the high-speed rail system expansion by the California High-Speed Rail Authority has set a goal of 30% participation from small businesses — only 10 percent is set aside for DBE.

The importance of Diversity, Equity and Inclusion (DEI) in economics was reinforced during the “State of the California Economy” talk led by author and economist Julianne Malveaux, and Anthony Asadullah Samad, Executive Director of the Mervyn Dymally African American Political and Economic Institute (MDAAPEI) at California State University, Dominguez Hills.

Assaults on DEI disproportionately affect women of color and Black women, according to Malveaux. When asked what role the loss of DEI might serve in economics, she suggested a more sinister purpose.

“The genesis of all this is anti-blackness. So, your question about how this fits into the economy is economic exclusion, that essentially has been promoted as public policy,” said Malveaux.

The most anticipated speaker at the event was Janice Bryant Howroyd known affectionately to her peers as “JBH.” She is one of the first Black women to run and own a multi-billion-dollar company. Her company ActOne Group, is one of the largest, and most recognized, hiring, staffing and human resources firms in the world. She is the author of “Acting Up” and has a profile on Forbes.

Chairman of the board of directors of the California African American Chamber of Commerce, Timothy Alan Simon, a lawyer and the first Black Appointments Secretary in the Office of the Governor of California, moderated. They discussed the state of Black entrepreneurship in the country and Howroyd gave advice to other business owners.

“We look to inspire and educate,” said Howroyd. “Inspiration is great but when I’ve got people’s attention, I want to teach them something.”