Many of the men and women who do form businesses start them after a great deal of frustration due to not being able to climb the corporate ladder. I think a major reason for this is that the social environment does not encourage people to start businesses. There is a perception that Black businesses are marginal, require too much work for too little income, and that it’s more lucrative, less demanding and more financially rewarding to work for someone else than to own your own business.Īfrican Americans have the smallest rate of business ownership, compared with whites, Latinos and Asians. Schools feel that it is more prestigious to be an accountant for a Fortune 500 corporation than to own a grocery store or cleaners in the community. Woodson in the book “The Mis-Education of the Negro” made reference to how schools encourage African Americans to pursue careers working and managing other people’s enterprises versus starting their own business. I have seen churches, professional organizations and magazines give more credence and recognition to professionals than to business owners.Ĭarter G. I’ve noticed in Black families that if there are four adult siblings and three of them are professionals and one is a business owner, among the family, the professionals seem to be revered more than the business owner. One of the major obstacles to Black economic development is the social environment that surrounds starting a Black business.
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