Category: International Business

Haiti becomes part of the African Union

haiti

Haitian Ambassador to South Africa, Jacques Junior Baril says Haiti finally being part of the African Union (AU) is a place that the country earned as they paved way to other African countries to be free today.

The Caribbean state of Haiti will officially become a member of the AU come the next AU Summit which will take place next month in Lilongwe, Malawi.

Former African Union chairman, Jean Ping said: “We have attachment and links to that country. The first black Republic…that carried high the flame of liberation an freedom for black people and has paid a heavy price for so doing.

In 2012, Haiti indicated its interest to move from its observer status to member status. It will be the first time any nation with no geographic connection to the continent of Africa to join the AU.

eventTAKE YOUR BUSINESS TO HAITI WITH THE FILM BLACK FRIDAY

Join an amazing tour and see what opportunities are available to you outside of the United States. BBE and The Film Black Friday Director Ric Mathis will help you discover the opportunities that are just waiting for you. The tour will start from July 28 to July 31, 2016. The team will be filming on Haiti and interviewing participants and choosing the ones…

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Take Your Business To Haiti with The Film Black Friday

Posted on May 10, 2016 By Staff With 10 comments

Take Your Business To Haiti with The Film Black Friday

Take Your Business To Haiti

Take Your Business To Haiti Reserve your space today! http://bit.ly/haititour2016

Take Your Business To Haiti with The Film Black Friday

Join an amazing tour and see what opportunities are available to you outside of the United States. BBE and The Film Black Friday Director Ric Mathis will help you discover the opportunities that are just waiting for you. The tour will start from July 28 to July 31, 2016. The team will be filming on Haiti and interviewing participants and choosing the ones that will be featured in the next film.

Black Friday is a documentary that takes a deeper look into the spending behaviors of African-Americans in the US. Every year, 1.2 trillion dollars leave African-American communities. According to Nielsen Company’s recent survey, African-American consumers shop more often and are more aggressive patrons of media. They shop more, watch more television, buy more ethnic grooming and beauty products and read more economic magazines than any other group.

Black Friday shows the incorrect financial education of African-Americans and the economic drawbacks that continue to prevent the community from progressing and growing. Black Friday aims to improve the financial responsibility and economic awareness of African-Americans and thus, presents solutions that will help better manage the money spent by the African-American communities. The film also emphasizes the importance of leaving an ethical and economic legacy for the next generations.

Reserve your space today! http://bit.ly/haititour2016

Ric will release the next Black Friday film on Black Friday in 2016. The tour will be a great chance for businesses to connect with African-American to bring their business to Haiti to grab the opportunities that await them.

The tour will also benefit the Centre orphelinat du bon berger de l’Archaie, an orphanage  established by Pastor Valembrun Estinfil in 2008. The extreme level of poverty faced by many Haitians prevents parents from taking care of their children. To help them meet their needs and live a better life, we are accepting donations for African centered books, school supplies, clothes, sneakers cleats and other items that will make life easier and more comfortable for the children. Your donation will be given to children aged 12 months to 13 years old. We are accepting new or gently used items.

Please call 9134BUYBLK 913-428.9255 to arrange your donation or if you have questions about this trip.

Haiti’s Growing Economy

The devastating earthquake in 2010 dealt a great deal of damage to Port-au-Prince, Haiti’s capital. It also resulted in significant financial losses almost equal to the nation’s GDP. The international community has pledged around US$10 billion to support the country’s reconstruction projects. Haiti’s economy is progressively improving. There are also a lot of great opportunities that provide SMEs with their much needed strategic support, financial expertise and funds.

Haiti’s economy is growing. The country has a free-market economy that boasts a pro-business government, capital demands and low-cost labor that will only continue to improve in the future. Moreover, the Haitian government has joined forces with the international community to create more job opportunities for the young workplace by making it easier for foreign groups to invest in the country.

The proximity of the country to the United States, which is also its main trading partner, the massive support from the global community and the low-cost yet eager and motivated workforce are other factors that will contribute to Haiti’s growth. For businesses that are planning to invest in Haiti, here are the main strategic advantages of the country.

  • Pro-business government – The first on the list would be the pro-business government. Haiti’s president, Michel Martelly, has promised to create more than 500,000 jobs in the next 3 years. The Haitian government also has started to streamline steps on starting a business and loosen restrictions on foreign land ownership.
  • Strategic Location – Haiti’s strategic location is another factor that will attract businesses. The country is located between the largest economy in the world (USA) and developing economies in South America (Columbia and Brazil). The economic development throughout the region would benefit Haiti. The country is also located in the Caribbean, which provides Haiti with great maritime trade access.
  • Favorable Economic Signals – Haiti’s 8 percent GDP growth in 2012, economic incentive from billions in foreign support and free-market economy make up for favorable economic signals.
  • Growing Trade Integration – Haiti has been a member of WTO since 1996. It is also near large economies, which guarantees low costs for transporting products to international markets. The implementation of Special Economic Zones also provides exemptions on taxes and tariffs.
  • Unexploited Resource Potential – The country has abundant, unexploited mineral deposits of copper, calcium carbonate, bauxite and gold as well as a young, low-cost workforce.
  • Expedient Labor Conditions – Haiti has plenty of trainable and motivated workers.
  • Geography – The country has natural sea ports at Jacmel, Port-au-Prince, Cap-Haitien and Gonaives as well as 1,700km of coastline and topnotch unspoiled beaches.
  • Massive International Support – Over US$10 billion of foreign support has been given for reconstruction projects. More than 3000 non-government organizations are also working in the country to provide the necessary support services. The Inter-American Development Bank offered more than US$2.2 billion for development and recovery projects. United States HOPE and HELP Acts will also help in rebuilding the country’s garment industry.

If you’re thinking of doing business in Haiti, now is your best chance. Join the tour and learn how you can maximize the business opportunities in the country. You should arrive in Ft. Lauderdale, Florida on the 28th of July 2016, at least three to four hours in advance. Bring your passport and another identification form. We have to check in two hours in advance and clear all customs properly.

Reserve your space today! http://bit.ly/haititour2016

Posted on May 4, 2016 By Staff With 0 comments

Oldest Black Owned Travel Agency in the United States

black_owned_travel_agency

The honor of being the oldest, continuously operating, African American owned travel agency goes to Rodgers Travel Bureau, located in Philadelphia, Pennsylvania.

Rodgers Travel Bureau opened their doors in 1949. The company was started by Harold Rodgers, an African American medical student who was working as a porter for TWA at Philadelphia International Airport to help pay for medical school. He knew the business well, and when he opened his agency, he was the only black-owned travel agency in the U.S.

Business booming

Business was booming, largely due to Rodgers’ loyal black customer base. Rodgers provided a valuable service for black customers at a time when the “whites only” segregation rules made it difficult to impossible for blacks to travel. Even after desegregation, his customers remained loyal. By the late 1960’s, the company was able to open a Rodgers Travel location in Washington, D.C. that targeted affluent African Americans and was a great location to black organizations who had headquarters in D.C.

Changes — all good

In 1954, William Griffin purchased the business from Harold Rodgers and soon added partner Fred Russell to manage the business. By the 1970’s, Russell’s daughters Norma Pratt and Joanne Ussery joined the management team. When their father passed away in 1980, his two daughters took over. It was now company president Norma Pratt who took the lead to secure the company for further growth. She took advantage of SBA’s 8(a) business development program to enter into the federal government marketplace. In 1991, she bid on and received Rodgers’ first federal government contract – a $10 million per year contract servicing Scott AFB.

The company is pleased that they have not only secured a place in history but also secured the future of the company.

For more details about Rodgers Travel Bureau, visit www.rodgerstravel.com

Oldest Black Owned Travel Agency in the United States

 

Source: Blog.BlackBusiness.org

Posted on January 19, 2016 By Staff With 0 comments

First Ever Made In Ghana Cars

When Apostle Dr. Kwadwo Safo, owner of the Kantanka Group of Companies displayed his talents on technological skills he, mystically, had acquired some ten years back in Ghana, but many Ghanaians were skeptical about his inventions.

Some described him as a wizard. Others also said his inventions are not scientific, and cannot be trusted to be safe.

Back then, among the many technological gadgets Dr. Safo displayed, was a television set that switches on after just a simple clap or by blowing air. He did not hide it. He said he never had a sophisticated technical or technological education. He only dreams and creates whatever he builds, implying that he is being taught by superhuman beings in the world beyond our knowledge.

When asked by a BBC journalist in 2010 why he chose to manufacture items that require strange human application before it could function, he replied “I do it because I can, I go to bed and dream about the innovation then write it down. My workers then make it. They are learning the skills they can use somewhere else.”

ghanacar

 

The company’s chief operating officer, Kwadwo Safo Jnr explains that the clean energy cars run on rechargeable batteries.

“The non-engine vehicle does not rely on a combustion engine to move. It is an electric motor powered by rechargeable batteries; the batteries can be recharged with solar energy or electricity. As you drive the car on the road, it converts the energy from the sun into mechanical energy which powers the car’’, he said.

To give you detailed information on the clean energy cars, there are two charging systems for the car-an external charging system and an internal charging system. The internal charging system uses an extra accumulator to power an invertor and the invertor simultaneously charges the 12 batteries while the car is accelerating. The internal charging is manual and can be switched on or off when the car is in motion.

The external charging system uses 144V which makes it suitable for the market. The charging modes are Quick Charge Mode and an Overnight Charge Mode. The Quick Charge Mode takes a maximum of 15 minutes to complete the charging and the Overnight Charge Mode takes a maximum of three hours to complete the charging. The life span of the accumulators is estimated to be a year.ghanapolice

As we said earlier, public perception about the durability of Dr Safo’s inventions was not encouraging. And to make the public believe that the cars are good, in 2015, he donated some free of charge to the Ghana Police Service to test its quality. The police administration has since testified and endorsed the cars.

safo

Apostle Dr Kwadwo Safo was born on 26th August 1948 at Bekwai, a town in the Ashanti Region of Ghana. As a child, it is said he had a deep passion for science and technology. And after closing from school, he would quickly do his home work and rush to the farm to get sticks for designing cars, helicopters, planes, etc. He designed toys machines and cars that had never been seen in the town.

His inventions include automobiles, military equipments, electrical gadgets, medicines, aeronautics amongst others.  He has a Honorary Doctor of Law Degree from the University of Ghana and has also been honored as the Order of the Volta (Member Division) in 2007 by the Ghanaian government.

Some people who support his inventions have warned that Ghana will regret if the country fail to make meaningful gains from his skills and knowledge before he passes on to eternity. He has quite a number of apprentices who are learning from him.

This Article (The Man Who Dreams And Builds Things Will Start Selling First Ever Made In Ghana Cars [Images]) is free and open source. You have permission to republish this article under a Creative Commons license with attribution to the author and AnonHQ.com

 

Posted on January 9, 2016 By Staff With 5 comments

WHAT IS ECONOMIC FREEDOM AND WHY IT’S IMPORTANT

man at desk

 

Economic freedom is the most essential route to greater opportunities and good standard of living for all in any society.

It is the freedom to select how to create, market, as well as use your own resources, while respecting others’ rights to reciprocate. In simple principle, economic freedom is an engine that drives success and prosperity worldwide and is the distinction between why some societies thrive while others do not.

It is the freedom to flourish and prosper within a nation without intervention from a government or financial authority. People are free to safeguard and protect their human resources, labor and personal property. The practice of economic freedom is common among capitalist states and it involves integrating various other constitutional and human rights to its operation in order to be economically free.

 

Importance of Economic Freedom

 

We cannot over emphasize the importance of economic freedom. It influences all aspect of a man’s life and his environment. When you live in a nation with a high level of economic freedom, it means you will earn higher income or pay, revenues and salaries. There is high reduction in unemployment rate, reduces hardship, brings about higher life expectancies and a conducive atmosphere to operate and live in. It brings about increase in the level of food security and security of individual life and properties.

 

How is economic freedom measured?

 

Indexes of how economic freedom is measured are found in Heritage and Fraser foundation to track economic freedom in the world. The Fraser Institute’s annual report, the Heritage Foundation’s annual report, the Economic Freedom of the World report, is produced in collaboration with Florida State University and Southern Methodist University, and also it evaluates five sub-components to gauge a nation’s degree of economic freedom.

These sub-components include the worth of the government based on income, expenditures and taxes; its legal framework and its protection of the rights to property of individuals; accessibility to money; freedom to move and trade internationally; and regulation of credit, business, and production factors – Land, Labor, Capital, and Entrepreneurship & Wealth.

How it works

 

In any economically free economy, citizens are free to do their business without interference from the government. It reduces inequalities in three prominent ways:

*It increases the rate of employment as well as enhances earnings flexibility: As economic freedom increases, there is increase in employment opportunities and a decrease in unemployment level, helps in the generation of higher revenue mobilization.

*It raises wide range of opportunities: That economic freedom brings about economic growth is essential. Growth typically brings more opportunity and a much better standard of living for everyone in any economy.

*It reduces corruption: Most people get their income from the jobs they do. However, in countries with high levels of corruption people closely related to corrupt officials could use these connections to get favors from them. These connections can help them get some benefits or unique and special treatment that others could not have access. Corruption is a bad disease and takes good things away, wastes limited sources and lowers the level of economic freedom in any society.

The impact of economic freedom on inequality is merely this: one of the most financially cost-free nations is also some of the equal. A nation cannot be referred to as economically free if it does not allow its citizens to operate in an atmosphere free from its interference and free from the introduction of some limiting economic policies.

business200x300-200x300What should we do to obtain it? 

Economic freedom, not “economic equality” must be our goal.  Equality requires measurement; it requires the party seeking equality, by default, to elevate someone else and seek his standard and his approval.  It also requires an effort to be accepted by the party to which one aspires.  It makes little sense to get into that game because every time we reach that standard it can—and will be changed to an even higher standard.

Economic freedom is the clarion call in years past and now.  Many have propagated that message and we have yet to heed it in a collective manner since we lost our minds over politics in 1965.  Economic freedom means setting our own standards, and not having to meet those set by others.  Economic freedom means the ability and willingness, and dare I say eagerness, to create jobs for our children.

Economic freedom means that we have multiple streams of income that can, of course, empower us individually and then empower us collectively.  Economic freedom means producing, manufacturing, and distributing; it means owning natural resources to whatever extent possible and vertically integrating our businesses.

Economic freedom, as Claud Anderson advocates, means aggregating our dollars and utilizing them to our own advantage rather than some else’s.  Economic freedom means what Pastor Jonathan Weaver and the Collective Empowerment Group are doing: leveraging the large number of church members and their spending capacity, and obtaining reciprocity from the marketplace.   Economic freedom means, as S.B. Fuller and Malcolm X said, “Control.”

The new black economy is the transition
from mostly a service-based economy to a
manufacturing, distribution and
retail-based economy.

Are you ready to achieve this? Join the movement @ buyblackeconomics.com  

Lynn – Creator of BuyBlackEconomics & BBNomics Crowdfunding Site. Pres. BBEIC Economic muscle & brain behind — I’m on a mission!

 

Posted on August 5, 2015 By Staff

BLACK JOBS AND ACTION PLAN

BLACK JOBS & ACTION PLAN

How many Black Owned Businesses?

How many Black Owned Businesses?

Attention community leaders and organizers. Tired of protesting, marching, and organizing with little or no results? The root of most of the problems your community faces stems from racism and the lack of economic opportunities. While you can’t make a racist get some sense overnight, you can do something about economic opportunities in your community right now. Use your organizing skills to build economic independence without begging for money or help from the government or white-owned corporations.

Here’s how…

Pick a community that is predominately Black.  Take an inventory of all the businesses that exist in that community. Make note of any businesses that are missing (grocery stores with quality produce sourced from Black farmers, gas stations, construction companies, department stores, solar panel installers, banks and ethical financial services companies, private security companies, etc.). Take note of which of the existing businesses are Black-owned. Go down the list of non-Black-owned existing businesses, prioritizing businesses that sell basic necessities first (food, energy/gas, water, clothing, shelter), and start boycotting them one by one.

 

all black everything

All Black Everything

For example, if the local grocery store is not Black-owned, find a Black grocery store executive with experience running a store. Get her to help you write a business plan on how to finance, staff, and run a store. Raise money from people in the community (churches might be able to help with this if you can find a pastor that hasn’t lost his mind and sold out…very rare these days, but worth a shot). Get everyone in the community to stop shopping at that store. Provide transportation to another store temporarily if people have no alternatives. With no customers, the targeted store will quickly go out of business. If they don’t, resort to more aggressive measures to “encourage” them out of business.

Once they are ready to close the business, come in and buy it for pennies on the dollar. Re-open as a Black-owned business that is socially and environmentally responsible. Train and hire people from the community to help run the business. Use the profits from the business and community funds to help acquire the next business on the list described above and start new businesses that need to be started. Source products and raw materials from other Black-owned companies or African companies whenever possible. Repeat this process until most of the businesses in the community are Black-owned and community-owned. Use profits from those businesses to fund institutions that empower the community (free clinics, independent Afrikan-centered schools and training centers, etc), security, and infrastructure.

This plan has worked for other communities. This plan has worked for Black communities in the past. This plan will for Black people today with some updates to the current environment and learning from past mistakes. We have the knowledge and skills available in our communities. Whether Black people have the will and intestinal fortitude to go through with it is the only question. Your current so-called leaders will probably not support this. They are token leaders, put in place by people that do not care about you. Pick new leaders that have relevant experience…so no lawyers, academics, pastors, or politicians.

Now Hiring!

Now Hiring!

Finally, some people will call this strategy reverse racism. Some will call it divisive. It probably is, get over it. News Flash: Black people did not create these artificial divides…but we do have to live with them until the rest of humanity evolves to understand and practice what Black people have always understood…that we are all human and we are all connected. Every other community engages in this self-interested behavior…it just comes natural to them, so they don’t have to make it so blatant, but the result is the same. Frankly, it is sad that this has to be spelled out like this, but being politically correct apparently hasn’t worked so far.

Name calling is for children. Let the children call you whatever they want as long as they stay out of your way while you direct your own destiny. If people want to slap a label on you, then so be it. So what! If they stand in your way, remove them from your path. Grow up, stand up, and make your own way or be content working for those children for the rest of your life.

Our resources:

If you are forming a local group, please contact us Buy Black Economics.

Black Business Coaching: BLK Business

Funding Sources: BBNomics 

Crowdfunding is an effort to create a self-help approach to the funding issues BOB’s face in this current market.

BLACK JOBS AND ACTION PLAN

 

 

Posted on September 9, 2014 By Staff

BLACK OWNED WEB DIRECTORIES

each and every friday

 

The following is a list of web directories, these directories need our support and our efforts.

Please take the time to add your business (product or service) and most of all share them with friends and family.

BLACK OWNED WEB DIRECTORIES

Black Commerce

http://blackcommerce.org/

Afro Gold Pages 

http://www.afrogoldpages.com/

AZBP

http://www.azbp.com/

Atlanta Black Business Directory

http://atlantablackbusiness.com/

Back To Black Business Directory

http://www.backtoblackbusinessdirectory.com/

Baltimore Black 

http://www.baltimoreblack.com/

BMoreBlack 

http://www.bmoreblack.com/

Black Business Association 

http://bbala.org/

Black Book Cleveland 

http://www.blackbookcleveland.com/

Black Business List

http://www.blackbusinesslist.com/

Black Business Planet

http://www.blackbusinessplanet.com/

Black Business 

http://www.blackbusinessprofile.com/home/

Black Canada

http://blackcanada.com/businessdirectory.html

Black Contractors

http://www.blackcontractors.org/index.html

National BDPA

http://www.bdpa.org/

Black Dollar Days Task Force

http://blackdollar.org/

Black Economics UK

http://www.blackeconomics.co.uk/

Black Excel 

http://www.blackexcel.org/hbc-list.htm

Continue Reading

Posted on September 7, 2014 By Staff

STEPS TO START YOUR BOB IN THE US AND AFRICA

Black_Owned(1)Starting a business involves planning, making key financial decisions and completing a series of legal activities. These 10 easy steps can help you plan, prepare and manage your business.

 

Step 1: Writing a Business Plan

Use online tools and resources to create a business plan. We will post written guides to will help you map out how you will start and run your business successfully.

Step 2: Get Business Assistance and Training

Take advantage of free training and counseling services, from preparing a business plan and securing financing, to expanding or relocating a business. Your city has a great deal of information to assist you with this and most of it is free, you must TAKE ADVANTAGE OF IT!!

Step 3: Choose a Business Location

Get advice on how to select a customer-friendly location and comply with zoning laws. Start with cities with the highest black populations.

Step 4: Finance Your Business

Venture capital and research grants to help you get started. A loan for black businesses is next to impossible right now. Family funded businesses are your best bet. Buy Black will offer business funding in the future, and there will be some requirements to qualify for this.

Step 5: Determine the Legal Structure of Your Business

Decide which form of ownership is best for you: sole proprietorship, partnership, Limited Liability Company (LLC), corporation, S corporation, nonprofit or cooperative. In cases where FAMILY is involved you must legally form a partnership and CLEARLY define everyone’s role involved. Members/Owners can invest, but do not have to be part of the decision making. Members/Owners can be part of the day to day operation, but also do not have to make business decisions. The individual that has a STRONG business sense must lead the operation. *CHOOSE CAREFULLY*

Step 6: Register a Business Name (“Doing Business As”)

Register your business name with your state government.

Step 7: Get a Tax Identification Number

Learn which tax identification number you’ll need to obtain from the IRS and your state revenue agency.

Step 8: Register for State and Local Taxes

Register with your state to obtain a tax identification number, workers’ compensation, unemployment and disability insurance.

Step 9: Obtain Business Licenses and Permits

Get a list of federal, state and local licenses and permits required for your business.

Step 10: Understand Employer Responsibilities

Learn the legal steps you need to take to hire employees.

Start BOB in Africa:

Register with the Registrar of Companies

Decide on a company name and register the name with the Registrar of Companies (Registrar General of the Corporate Affairs Commission) for your chosen country. Once you’ve registered your name, it can take a couple of days for the process to complete. If it’s not already taken, your company name will be added to the Registrar’s database. Not all countries in Africa will have Registrar of Companies based there. If your country does not have a Registrar in the country where your business will be stationed, you should file with the Registrar of Companies in your country of residence for the country in which you wish to create your business.

Register with the Embassy

This step is vital for those seeking to do business in Africa where there are cultural and economical issues that need to be taken into account before running a successful business. The Embassy for your chosen country will provide important information for starting a business such as laws or permits needed for starting a business in your area of interest. The Embassy employs representatives of the foreign country to communicate about their home country. They act as a liaison feeding you vital information that will help you to plan your business.

Obtain a Permit

The law requires that businesses obtain a permit before they can begin to make transactions. This is done to ensure that you’re staying within the law for your particular city in the safety, structure, and appearance of your business. Find out what the regulation agencies in your chosen country requires in order to obtain a permit. Once you obtain a permit, you will be granted permission to legally run your business.

Obtain a License

When applicable, some businesses must also obtain a license in order to meet certain codes or standards for doing lawful business within an area. You can find out if you need to obtain a license by contacting the local government office in your country of choice.

Register with LRR

Also known as the office of the Local Receiver of Revenues (or Revenue Authority), registration with this office takes care of paperwork for obtaining an income tax number, employee withholding tax, and pin certificates. Each country in Africa has its own office, so be sure to contact the office that applies to you.

Register with the Department of Labor

If you plan to hire employees, you’ll need to register with the country’s Department of Labor for unemployment insurance. The DOL protects the rights of workers. Depending on the country, this department may go under the name of Ministry of Labor (as is the case in Namibia, Kenya, and Nigeria). Upon approval, you will be issued a reference number.

Open a Bank Account

It’s important to have a separate bank account for your business to separate your personal finances and expenses from that of your business. Ideally, this account should be opened in your chosen country in Africa. You will need to have your company documents with you once they are obtained in order to open a business account.

Steps to Start your BOB in the US and Africa

Posted on July 27, 2014 By Staff With 0 comments

BLACKS WITHOUT BORDERS – VIDEO

universe 2

 

 

 

 

 

 

 

 

Blacks Without Borders – Video

Black Without Borders is an emotional story about hardship, sacrifice and great rewards. This film plunges into the lives of a group of African Americans who have come to South Africa to find the American dream. These expats have discovered that America is not the only land of opportunity. The boundaries that many of them faced in the United States don’t exist in South Africa. Everyone knows about the deplorable conditions in parts of Africa, but this film captures the wonderful lifestyle South Africa has to offer. We follow these modern day globetrotters all over the country and tour their amazing homes. From an 11,000 sq ft. house that overlooks the Indian Ocean to a 35,000 sq ft. mansion that sits on 700 acres.

Blacks Without Borders – Video

Join us in October: Africa for Africans Tour 

Resources: 

 

 

Posted on January 12, 2014 By Staff

10 METHODS TO BECOME TAX EXEMPT

WE HAVE  METHODS WE CAN — — USE NOW!

THE QUESTION IS WILL YOU UTILIZE THEM TO OUR ADVANTAGE?

ORGANIZE!

 

Picture by Andre' Brown

Picture by Andre’ Brown

10 Methods To Become tax Exempt

CULTIVATE OUR GREEN THUMBS – 

Agricultural and horticultural organizations can claim tax-exempt status. These include groups involved in forestry, raising livestock, harvesting crops or aquatic resources and cultivating ornamental plants.
Others that qualify:

Nonprofit associations that educate people about agriculture horticulture
Groups that test soil and share the results with community members
Organizations that exhibit livestock or farm products

HAVE FAITH –

Churches and religious organizations are generally tax exempt. In this context, “church” means any place of worship, including mosques and synagogues. Religious organizations include ministries and other organizations involved in the promotion or study of religion. Churches that meet the requirements of Internal Revenue Code section 501(c)(3) aren’t required to apply for tax-exempt status, but many still do. The reason? Tax-exempt status lets people know that financial contributions they make to the church are tax-deductible. Churches may become involved in public policy, but they have to be careful. A church that focuses on lobbying (influencing legislation) or becomes involved in a political campaign may lose its tax-exempt status.
LOVE OUR BROTHERS AND SISTERS –

Fraternal orders, societies and associations can apply to be tax exempt. The IRS defines a fraternal organization as one in which members have a common tie or pursue a common goal. The IRS also requires that the group be organized under a lodge system. This means a parent organization and multiple self-governed subgroups (or lodges). Qualifying fraternal organizations may or may not offer their members benefits such as life or health insurance. This depends on the section of the tax code under which they are exempt. Beneficiary fraternal organizations provide such benefits, while domestic organizations divert their earnings to charitable, fraternal or religious causes. If a group isn’t eligible for exemption as a fraternal organization, it may be eligible in another category, such as a social club.

SHARE WHAT WE KNOW –

Tax-exempt educational organizations include a wide range of groups. Primary and secondary schools, colleges and universities are the most obvious candidates. But credit counseling agencies, museums and zoos may also be eligible. An organization must show the IRS exactly how it provides educational activities. This may come in the form of classroom instruction, a lecture series, correspondence courses or museums tours. But organizations claiming to be educational must meet certain requirements. The IRS may decide an organization’s method is not sufficiently educational. For example, a group that presents viewpoints not supported by facts, or informed more by emotion than by evidence, may not be tax exempt as an educational organization.

ENGAGE IN FAIR TRADE –

Tax exemption is granted to trade associations that are groups of people with a common business interest. Trade associations don’t do business for profit or perform services. Instead, to qualify as a trade association, the origination must be involved in promoting the common interest of its members. Included in this category are chambers of commerce, boards of trade, and, perhaps surprisingly, professional football leagues like the NFL. Trade association activities include:

Promoting higher standards within an industry

Producing a trade publication

Encouraging the public to use the goods and services of a particular industry

As you can see, there are a variety of ways to be tax exempt but the parameters for tax exempt businesses and organizations are well-defined.

— — USE SCIENTIFIC METHODS –

Organizations conducting scientific research can qualify for tax exemption if the research is carried out in the public interest. This means they must make the research results — including patents, processes and formulas — available to the general public. Activities that qualify under this exemption would include conducting research to discover the cure for a disease, supporting the scientific education of college or university students, and helping a community attract a new industry to the area. Not included are normal activities related to running a commercial or industrial concern, such as inspection or testing of materials.

SUPPORT OUR VETERANS –

For tax-exemption purposes, a veterans’ organization is a group of members of the U.S. armed forces. At least 75 percent of the organization must be made up of past or present members of the armed forces. A veterans’ organization’s purpose must fall within the IRS’s list of approved functions. Eligible activities include:

Assisting disabled veterans or their dependents, widows or orphans

Providing care to hospitalized veterans

Supporting programs that memorialize deceased veterans

Providing recreational activities for veterans

Offering insurance benefits for veterans or their dependents

Participating in activities the IRS deems “of a patriotic nature”

GET TOGETHER WITH FRIENDS –

For the purposes of tax exemption, a social club must have a limited number of members who meet regularly for pleasure and recreation. It also must be nondiscriminatory regarding race and color. Issues of religion, however, are trickier. A social club may be tax exempt even if it restricts membership to people of a particular religion, if that shared religion is the club’s main purpose. Examples of social clubs include:

Country clubs

Amateur hunting and fishing clubs

Dinner clubs that provide a meeting place for members

Clubs organized around particular hobbies

WORK COLLECTIVELY –

Labor organizations are generally eligible for tax exemption if they meet the IRS’s criteria. A labor organization must be an association of workers collaboratively promoting their interests. Through collective bargaining with employers, these organizations advocate for a range of improvements. These may include better working conditions, higher wages, healthcare benefits and accident benefits. Activities that the IRS considers appropriate for labor organizations include producing a newspaper covering labor issues, maintaining a legal defense fund for law enforcement officers or establishing a union strike and lockout fund.

HELP OUR NEIGHBORS –

Social welfare organizations usually qualify for exemption. These are defined as organizations created to contribute to the well-being of a community. They can take on a range of functions and forms, including:

An association of volunteer firefighters

A membership organization that a real-estate developer creates to maintain common areas for residents of a housing development

An organization that holds annual festivities celebrating regional traditions

An organization that supervises the operation of an airport that serves the public in an area with no other airport

——

Resources:

Directions: Create Black Jobs 

Business Coaching: Ujamaa Solutions LLC

CrowdFunding: BBNomics

 

 

 

Posted on January 3, 2014 By Staff

5 Manufacturing Trends Shaping The Future Of Small Businesses

5 Manufacturing Trends Shaping The Future Of Small Businesses
So you want to start a small product-design business? Here’s the good news. The playing field is more level than it’s ever been, and sophisticated social media and digital marketing tools allow for a more intimate connection to your consumer.

If you’re one of the few with that million-dollar idea, here are five key manufacturing trends you should know about to help bring your product to market faster, cheaper, and more efficiently.

1. Crowdfunding. Why borrow money from a friend when you can borrow from a thousand friends? More and more entrepreneurs are looking to harness the power of the crowd to acquire capital, and there’s lots of money to be had. Globally, the crowdfunding industry is projected to raise a staggering $5 billion in 2013.

“It’s a new currency of remuneration,” says Jordan Brandt, Technology Futurist at Autodesk. “Finding ways to incentivize people, give them exposure, and make them feel like they helped in bringing a product to market carries a lot of weight.”

Whichever crowdfunding site you choose, your page is the first place to introduce your product to the masses. Don’t underestimate the quality of a compelling and well-edited video and coherent messaging. But remember, a Crowdfunding page is not a business plan. The road to a successful crowdfunding campaign is littered with stalled or broken-down initiatives that began with a great idea, but fizzled due to a lack of long-term planning.

2. Reshoring. Call it what you want: reshoring, onshoring, distributive manufacturing. With the increased cost and environmental impact of shipping goods overseas, a decreasing wage disparity, and cheaper domestic energy, many businesses are bringing their manufacturing closer to the consumer. All those aforementioned financial factors—coupled with an increased desire for product personalization and a decreased tolerance for waiting around—has resulted in a trend toward local manufacturing.

In the past, small businesses had to latch onto a larger supply chain or team up with other small businesses to get their order numbers high enough for overseas manufacturing. Now that it’s proving more cost-effective to bring everything back home, another phenomenon is occurring: a resurgence of the “Industrial Commons.”

“As easy example would be Detroit in its heyday,” Brandt explains. “Not only did you have the auto designers and the large car companies, but you had the supply chains making the parts for them. Then you had all the logistics organizations making sure everybody got the right part at the right time.”

With big business reshoring, smaller businesses can take advantage of those newly created local ecosystems and thrive domestically. They also get PR points for putting those manufacturing dollars back into U.S. pockets.

3. Additive Manufacturing. As opposed to subtractive manufacturing, which involves cutting or drilling, additive manufacturing is the creation of a three- dimensional object by adding layers. Though the technology has been around since the mid-’80s, it’s affordability as of late has been one of the biggest factors in helping small businesses control more of their manufacturing. Brandt references the origami-inspired Oru Kayak, a double-layered polyethylene vessel, as a perfect marriage of advanced automation, crowdfunding, and collaborative design software such as Autodesk’s Fusion 360.

Attendance numbers for RAPID 2013, the country’s premiere additive manufacturing conference, doubled from its 2012 totals, and the growth isn’t relegated to more traditional manufacturing sectors. Everyone from opticians to aerospace engineers has used additive manufacturing for parts and products, but the biotech and medical communities are parlaying the technology into exciting new ventures.

“[Autodesk’s] bio-nano team is building an open hardware bio research kit that heavily leverages 3D printing to enable garage biologists and inventors around the world to do cellular and molecular scale research at a fraction of the cost traditionally required,” Brandt says.

4. Open-Source Hardware. The universal access and redistribution of information is nothing new to software developers, but with a new community of DIY makers flooding the Internet with unique products, sharing valuable knowledge has become much more commonplace. But as with any close-knit group built around a specific activity or interest, there’s an underlying code of conduct that should be followed.

Taking without giving back is generally frowned upon, as are people who come in looking for catchall solutions to their problems. The use of open-source hardware isn’t meant to be a replacement for domain knowledge; it should merely improve your ability to function in your given field. Further, the community will be much more supportive of your endeavors if they see you as an expert in your field.

Adafruit Industries, founded by MIT engineer and Wiredmagazine cover girl Limor Fried, is an open-source epicenter for small businesses, selling hundreds of electronic kits designed to serve as well as inspire the community. Arizona-based Local Motors promote themselves as a company rooted in “open-source principles,” employing crowdsourced design and technology to produce one-of-a-kind vehicles.

“I think that the risk in crowdsourcing is burning out the contributors,” Brandt says. “They’ve contributed on 25 different campaigns and designs, and at the end of the day, they just don’t get any return for it. Local Motors is dealing with crowdsourcing aspects of the design of their vehicles and rewarding the people who contribute those designs so that they continue to do so.”

5. Advanced Automation. Sensor networks, vision systems, artificial intelligence: These are just a few ways of turning serially programmed, basic automation into advanced automation, and they aren’t as costly as you’d think. Smartphones with built-in features like GPS, compass, and accelerometers can even be an input device for advanced automation.

“Small businesses that say ‘Robots are for the big companies, automation is for high-capital expenditure, I’m not gonna know how to use it.’ Now is the time to rethink that,” reasons Brandt.

Advanced, after all, is a relative term, and doesn’t necessarily translate to expensive. An ammunition reloader, for example, could hook up a sensor that measures the humidity in the room and adjusts how hard the reloader tamps the gunpowder into the shell. The result? A more accurate load. A thermometer installed inside the steamer of an espresso machine that measures the temperature of the milk can mean the difference between a good cappuccino and a great cappuccino. With so much tech available at a reasonable (or even negligible) cost and so many open forums ready to point you in the right direction, it’s no surprise that the small business community is experiencing a renaissance.

Source

Posted on November 5, 2013 By Staff

WHY CORPORATIONS WON’T HIRE AN ENTREPRENEUR

EntrepreneurOne morning last week while reading articles on LinkedIn Today one article in particular jumped out at me. The article titled “Entrepreneurs need not apply: Companies shun the self employed” and I thought to myself “you’ve got to be kidding“.  So I opened the article and was amazed at what I read or maybe I shouldn’t have been.

The article states “Entrepreneurs and freelancers attract fewer interview invitations than comparable candidates who have spent the last few years working for someone else, according to research which will be presented to the Academy of Management annual conference in August. In the UK, the self-employed received almost two-thirds fewer interview requests than people with similar professional experience who worked only at employers.“The stigma against the self-employed may indicate that hiring managers just don’t see them as a good fit in their corporate culture. Traits that work for start-ups—risk-taking, taking charge and adopting “unusual points of view”—don’t necessarily work well in corporate careers, the paper noted.”

That’s ironic because company executives and human resources say they are looking for self starters, innovative hires, a certain entrepreneurial spirited people equipped with a 21st century mindset.  Just maybe corporations need entrepreneurs more than entrepreneurs need corporations.

The Opposing Forces of Two Mental Models

Corporations have become factories of mental models created over decades of controlling how and what people think through the influence of power and money. The attitudes have created cultures of “we are in control and we pay you to follow the rules we make“.

These mental models were designed to build organizations where compliance and productivity of human labor determined profitability.  Subsequently organizations were built around a hierarchy of control similar to the military where the strategy was to beat the enemy.  This mental model is dependent on compliance.  Compliance through control of resources via influence of power and money has proven to be limiting and costly.

The mental model of an entrepreneur is opposite of the old models followed by many corporations. The best definition of the entrepreneurs mental model was conceived 37 years ago by HBS professor Howard Stevenson in his  book Breakthrough Entrepreneurship which states Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled.”

While corporations say they want to recruit people who have similar attributes as entrepreneurs the fact is those very people will typically disrupt the old school corporate cultures. A disruption will either create support for the necessary change or quietly be dismissed and labeled as a trouble maker.  The reason the two will never get along is because of the opposing mental models.

The real issue is which mental model works best in the 21st Century? The markets will decide and so far the entrepreneurs seem to be winning.

Corps.-vs

Why Corporations Won’t Hire An Entrepreneur

Source: Click Here

 

Posted on October 10, 2013 By Staff With 0 comments

DOING GOOD IS GOOD FOR YOU AND GOOD FOR OUR COMMUNITIES

www.bbnomics.com

www.bbnomics.com

In order for our communities to move from the “traditional” mostly for-profit model, we must adopt new language as well as new ways of seeing doing things. Our concern must be both community then profit.
Doing good is good for you and good for our communities.

Social entrepreneurship is the process of pursuing suitable solutions to social problems we face. More specifically, our social entrepreneurs should adopt a mission to create and sustain social value. They will pursue opportunities to serve this mission, while continuously adapting and learning. They will draw upon appropriate thinking in both the business and nonprofit worlds and operate in all kinds of organizations: large and small; new and old; religious and secular; nonprofit, for-profit, and hybrid.

Business entrepreneurs typically measure performance in profit and return, but our new social entrepreneurs will also take into account a positive return to society.

Also review terms:
Corporate Social Entrepreneurship
Collaboration
Collaborative method
List of social entrepreneurs
Social business
Social enterprise
Social innovation
Social Venture Capital
Geotourism
Appropriate technology
Triple Bottom Line business theory
Microfinance
Microfranchising
Open-source appropriate technology

www.bbnomics.com BBNomics

 

Posted on October 9, 2013 By Staff With 0 comments

DO YOU HAVE AN IDEA FOR A BUSINESS

What is a business idea? It’s practically any idea that you have that fills a need in the marketplace, in your community, in your life, in other people’s life.  To be able to formulate a business around a single idea, follow these 6 easy-to-understand, but hard-to-do steps:

Got an idea? Now what?

Got an idea? Now what?

What is a business idea? It’s practically any idea that you have that fills a need in the marketplace, in your community, in your life, in other people’s life.  To be able to formulate a business around a single idea, follow these 6 easy-to-understand, but hard-to-do steps:

  1. Identifying your idea–What are you passionate about? Why did this idea come up in the first place? Does it follow your passion? Is it based on an event in your life worth fixing? Is it based on a need you see in your community?
  2. Dressing up your idea– Where does your idea come in contact with the potential in the marketplace?
  3. Getting personalities around your idea– Who will ultimately buy your product/service? What does she/he look like? Where do they shop? Why will they buy your product/service?
  4. Financing your idea– How much will your idea cost? Don’t be shy, look to see what look-a-likes cost and dream away at how many widgets you would sell to who and for how much? When can you go from negative to positive (the break even point)? If you have any start-up costs, what are they, for what, and who would help you fund them.
  5. Get some feedback– Now that you have a foundation of your idea, pitch it to others, anyone. Ask family and friends, other moms and dads, other enthusiasts of what you are passionate about, and your end users/customers.
  6. Iterate– Your game plan is to get enough feedback for you to iterate to one version, and turn this cycle a couple of times. The goal is to not turn your wheels and get stuck, but turn your wheels towards launching that first product/prototype/service. It doesn’t have to be perfect, just perfect enough for meeting the needs of your customers.

We are here to assist, we need more black business, you require support.

Posted on October 7, 2013 By Staff