Business
African-American business owners to urge Obama to aid growth
President Obama’s speech to the National Urban League conference in New Orleans on Wednesday night coincides with a debate over the role of government in helping small businesses succeed.
African-Americans say they have an especially hard time when it comes to owning and operating their own businesses.
Lots of African-Americans, whom studies show haven’t accumulated nearly the same amount of wealth as whites.
Though the number of businesses owned by African-Americans has grown dramatically over the past decade, the overwhelming majority have no employees and have revenues below US$50,000 a year.
Businesses owned by African-Americans still face the challenges of the three C’s”. “Contracts, which mean opportunities to do business. Contacts, which lead to business opportunities. And capital.”