This Forum Is Dedicated To The Cultural, Spiritual, Economic, Academic, Political, And Social Empowerment Of African-Americans In The United States.
Tuesday, April 25, 2006
Black Power Moves
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| Revenues for Black-Owned Firms Near $89 Billion | |
Revenues for Black-Owned Firms Near $89 Billion, Number of Businesses Up 45 Percent
Revenues generated by the nation’s 1.2 million black- owned businesses rose 25 percent between 1997 and 2002 to $88.8 billion in 2002, while the number of such firms grew by 45 percent in the same five-year period. This is according to a new report, Survey of Business Owners: Black-Owned Firms: 2002 [PDF], released by the U.S. Census Bureau. "These are encouraging results," says Roger Madison, CEO of iZania,LLC. "However, these broad figures mask the reality that over 90% of Black-owned usinesses are single proprietorships and home-based businesses."
Entrepreneurship is recognized as a key element in the movement toward wealth creation within the Black community. Now Black Entrepreneurs must advance beyond the entry level and engage in collaborative activities to gain the critical size and capacity for growth. The iZania Virtual Black Community strives to provide the connections, and access to the resources within our community that can capitalize on our $700 billion in spending and investment power to help drive the growth of our enterprises.
JOIN iZania today to help us continue these growth trends. |
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