Post by Planet Asia on Dec 27, 2005 13:01:51 GMT -5
Black entrepreneurs are optimistic about the economic future of Black America, in spite of the hardships many of them have before reaching success. They foresee a greater role that Black entrepreneurs will play in shaping the American economy.
"One of the major impacts is the ability (for) more of our front line talent to go into business for themselves." George Fraser, entrepreneur and author of the acclaimed book, Success Runs In Our Race.
This talent that many Black Americans have in common, is largely a product of what Fraser refers to as the "civil rights/affirmative action generation."
This generation has spent much of their professional career building the profitability of white-run businesses, instead of their own, he said.
"That generation has gone full circle" and is now looking to start its own business network, he said.
After 16 years of work in corporate America, Fraser, CEO and founder of the SuccessNet Forum in Cleveland, Ohio, established his business with the intent of bringing Black professionals and entrepreneurs together.
Fraser anticipates that job creation in the African-American community will be the result of efforts like SuccessNet, spawned by the outflow of Blacks from big corporations into their own business ventures.
"One of the biggest impacts will be" Black Americans employing other Black Americans, he said. African Americans will thus become more like other groups, who hire their own routinely, he added.
"Employment comes down racial lines," he said. "And, with more Blacks going into businesses ... we will tend to take those who are less fortunate and employ them."
Fraser pointed out that 60% of all White-owned businesses in the United States employ no minorities, while 90% of Black-owned businesses employ Blacks.
Fraser believes that Blacks bring a perspective to business that differs from that of their White colleagues.
"We come at it a little differently ... (we will) reshape how business will be done," he said.
Fraser feels that the Black community has moral grounding and spiritual outlook that is rooted in Afrocentric thought, which stresses the collective over the individual, the latter being the focus in American culture.
One major trend affecting the entire U.S. economy, the proliferation of technology such as the Internet and the much talked about "super-information highway" should bring increased opportunities, he said.
"All of that (technology) is going to make it easier for African- Americans to get into business.
"The computer today can do the work of 45 people 25 years ago," he said.
"I think it's going to make it easier for Black businesses to access capital as well as information."
An additional plus in this regard is that, according to Fraser, more and more African Americans are graduating with degrees in science and engineering. And it is those with education for whom the technological changes will be beneficial, he said.
Fraser is pleased, however, with the current advances of Blacks in corporate America.
"There's a lot more joint ventures than ever before," he said, referring to mutual efforts between white and Black-owned companies.
There are also more Black executives in corporate America, sitting atop major corporations previously off limits to Blacks altogether.
They include Dennis Hightower of Disney Entertainment, Richard Parsons of Time Warner, and Kenneth Chenault of American Express.
Fraser points out that these three "bigwigs," as well as many of their high-achieving peers, are all affirmative action babies. "Had it not been for affirmative action, a Kenneth Chenault might not have gotten in the door," he said.
American companies can see the country's changing racial demographics, which will make America 54% minority by the year 2050, Fraser explained.
"They can see, they're not blind," he said of companies who are putting Black talent to use.
The ongoing backlash against affirmative action and other programs instituted to increase Black participation in the American economy are irrational, in Fraser's view.
"I think it's an overreaction to reality," he says, referring to America's demographic shift. The irony is that affirmative action hasn't made a dent in shifting the control of resources into the hands of racial minorities.
"White males control 91% of everything," he said. "There is no statistical evidence that you can show me that indicates that the contrary is true."
Despite the ongoing curtailment of affirmative action, Fraser remains upbeat about Blacks getting in business.
Dr. Claud Anderson, founder and president of the Harvest Institute concurs with much of George Fraser's analysis of the Black economic situation in this country.
He views it, however, in more stark terms. "It is very bad across Black America ... all across the country." he said. "We're about 150 years back in terms of quality of life."
Anderson is currently the founder and president of the Harvest Institute, a Washington, D.C. think tank devoted to developing solutions to Black America's economic crisis.
Anderson, unlike Fraser, does not see the advent of technology as a plus for Black folks.
"Technology has freed White folks" from having to use Black labor, he said, tracing his argument back to the 1940's, when machines developed by southern Whites made Black field labor obsolete, and to the 1960's, when northern Blacks working in factory and industrial jobs became dislocated workers by advancing automation.
afgen.com/blkentre.html
"One of the major impacts is the ability (for) more of our front line talent to go into business for themselves." George Fraser, entrepreneur and author of the acclaimed book, Success Runs In Our Race.
This talent that many Black Americans have in common, is largely a product of what Fraser refers to as the "civil rights/affirmative action generation."
This generation has spent much of their professional career building the profitability of white-run businesses, instead of their own, he said.
"That generation has gone full circle" and is now looking to start its own business network, he said.
After 16 years of work in corporate America, Fraser, CEO and founder of the SuccessNet Forum in Cleveland, Ohio, established his business with the intent of bringing Black professionals and entrepreneurs together.
Fraser anticipates that job creation in the African-American community will be the result of efforts like SuccessNet, spawned by the outflow of Blacks from big corporations into their own business ventures.
"One of the biggest impacts will be" Black Americans employing other Black Americans, he said. African Americans will thus become more like other groups, who hire their own routinely, he added.
"Employment comes down racial lines," he said. "And, with more Blacks going into businesses ... we will tend to take those who are less fortunate and employ them."
Fraser pointed out that 60% of all White-owned businesses in the United States employ no minorities, while 90% of Black-owned businesses employ Blacks.
Fraser believes that Blacks bring a perspective to business that differs from that of their White colleagues.
"We come at it a little differently ... (we will) reshape how business will be done," he said.
Fraser feels that the Black community has moral grounding and spiritual outlook that is rooted in Afrocentric thought, which stresses the collective over the individual, the latter being the focus in American culture.
One major trend affecting the entire U.S. economy, the proliferation of technology such as the Internet and the much talked about "super-information highway" should bring increased opportunities, he said.
"All of that (technology) is going to make it easier for African- Americans to get into business.
"The computer today can do the work of 45 people 25 years ago," he said.
"I think it's going to make it easier for Black businesses to access capital as well as information."
An additional plus in this regard is that, according to Fraser, more and more African Americans are graduating with degrees in science and engineering. And it is those with education for whom the technological changes will be beneficial, he said.
Fraser is pleased, however, with the current advances of Blacks in corporate America.
"There's a lot more joint ventures than ever before," he said, referring to mutual efforts between white and Black-owned companies.
There are also more Black executives in corporate America, sitting atop major corporations previously off limits to Blacks altogether.
They include Dennis Hightower of Disney Entertainment, Richard Parsons of Time Warner, and Kenneth Chenault of American Express.
Fraser points out that these three "bigwigs," as well as many of their high-achieving peers, are all affirmative action babies. "Had it not been for affirmative action, a Kenneth Chenault might not have gotten in the door," he said.
American companies can see the country's changing racial demographics, which will make America 54% minority by the year 2050, Fraser explained.
"They can see, they're not blind," he said of companies who are putting Black talent to use.
The ongoing backlash against affirmative action and other programs instituted to increase Black participation in the American economy are irrational, in Fraser's view.
"I think it's an overreaction to reality," he says, referring to America's demographic shift. The irony is that affirmative action hasn't made a dent in shifting the control of resources into the hands of racial minorities.
"White males control 91% of everything," he said. "There is no statistical evidence that you can show me that indicates that the contrary is true."
Despite the ongoing curtailment of affirmative action, Fraser remains upbeat about Blacks getting in business.
Dr. Claud Anderson, founder and president of the Harvest Institute concurs with much of George Fraser's analysis of the Black economic situation in this country.
He views it, however, in more stark terms. "It is very bad across Black America ... all across the country." he said. "We're about 150 years back in terms of quality of life."
Anderson is currently the founder and president of the Harvest Institute, a Washington, D.C. think tank devoted to developing solutions to Black America's economic crisis.
Anderson, unlike Fraser, does not see the advent of technology as a plus for Black folks.
"Technology has freed White folks" from having to use Black labor, he said, tracing his argument back to the 1940's, when machines developed by southern Whites made Black field labor obsolete, and to the 1960's, when northern Blacks working in factory and industrial jobs became dislocated workers by advancing automation.
afgen.com/blkentre.html