Entrepreneurship, The Path For The American Economy

by James Young

Small businesses are typically cited as the “engine of growth” for the American economy.  It has also been stated that if 1 out of 10 African Americans in America started a business, the unemployment rate in Black neighborhoods would drop drastically, improvised neighborhoods would disappear, and economic parity could become a reality for the disenfranchised.  The purpose of this channel is to increase the number of small businesses across America in particular in African American neighborhoods. 

 

In this conversation about the value of small businesses for the U.S. economy, we can't leave out this truth--all businesses start small. All of the 18,500 businesses in the United States with 500 or more employees once began as a part of the small business sector. Apple started in Steve Jobs's garage. Microsoft started in Bill Gates' kitchen. Facebook got its start in Mark Zuckerberg's dorm room. Home-based, non-employing small businesses become small employers, which in turn become big businesses. So, in a way, one could argue that the American small business economy is the American economy. It's where the U.S. economy begins.

 

There are four videos on this channel, "Why Black Children Inherit Dust," which goes to the heart of why entrepreneurship is so vital in African American neighborhoods.  Most of the videos will stay the same each month.  The three-part series, "How To Write A Business Plan," and the six-part series, "Starting A Business" are essential for anyone thinking about starting a small business.