National Black Business Month cofounder frames the action steps which national organizations have prioritized to reach a 2/3 growth in black annual income.
We're Due: State of Black Business, 16th edition, advocates creating pools of capital in maority black counties across the South and metropolitan areas with large black populations to achieve the following objectives. The report includes the Ten Key Factors for Black Business Success. Within those goals, which solutions are you prepared to support individually, as a campaign and if elected.
1) Expanding the scale and scope of African-American owned businesses
A. Regulatory enforcement to increase the 0.7 percent share of business lending going to black owned firms
B. Increasing federal procurement to black-owned firms from 1 percent
C. Supporting community cooperatives in the same fashion as the Rural Electrification Coops of the New Deal
D. Targeting federal disaster relief spending to disadvantaged small businesses throughout the Black Belt
E. Providing expanded import/export assistance between African-Americans, Africa and the Caribbean
F. Anti-trust enforcement of barriers to entry for online venture
G. Removing tax advantages from venture investments to firms without black or women founders/boards
H. Increasing African-American broadcast/cable ownership
I. Increasing small business innovative research grants to African-American manufacturers
2) Increasing black home ownership by two million
A Targeting FHA homeowner loans into communities with low home ownership
B. Urban homesteading act to encouraging reclamation of abandoned properties
C. Supporting more black housing developers, for profit and non-profit
3) Growing the capital of black-owned banks
A. Targeting $100 billion yearly from the Federal Reserve through black-owned financial institutions
B. Using African-American banks as depositories for government departments
C. Stricter enforcement of Community Reinvestment Act
D. Increased budgets and authority for Offices of Minority Women Impact at federal financial regulators
4) Fully funding Historically Black Colleges and Universities
A. Waiving debts from HBCUs to Dept. of Education
B. Supporting professional and graduate schools at every HBCU
C. Placing 10 percent of research at HBCUs
D. Funding the $14 billion deferred maintenance budget at HBCUs as part of infrastructure plan
E. Raising the federal guarantee in the new FUTURES Act to a minimum of $5 billion with growth indexed to the growth in black college age population.
Pleaee answer the following on your past activities:
1. How has your personal business or campaign spent with black-owned busineses?
2. What percentage of your advertising budget is going to black media/online sites?
3. What is the percentage of black owned firms in your home jurisdiction?
4. What large-scale black owned enterprises developed in your jurisdiction during your tenure?
4. In your business career, have you promoted African-American businesses?
5. Legislation or executive steps you've taken to support black-owned businesses?
6. Personal philanthropy to historically black colleges and universities?
7. Personal investments in black-owned businesses
8. Our10Plan, the African-American economic strategy sets a goal of ten percent of gross domestic product for African-American aggregate income, now six percent compared to 13 percent of population. What policies not previously mentioned would you carry out to boost black income from $1.3 trillion to $2.1 trillion?