Tag archives: finance

It’s True! More African Americans Are Investing in the Stock Market


A recent national study by Chicago-based Ariel Investments shows that more black Americans are investing in the stock market. For years, blacks stayed away from stock investments, but that trend is beginning to change.

67% of Blacks are investing

According to the study, stock market investing has grown among the black population over the years. In 1998, 57 percent of blacks were investing in stocks or stock mutual funds. By 2010, that number had grown to 60 percent, and today 67 percent of blacks invest in stocks or stock mutual funds. One reason suggested is that more employers are offering 401K programs for their employees. Since employers match 401K deposits up to various amounts, black employees consider this a very important reason to invest and grow wealth.

Investment attitudes different based on race

Investment attitudes and behaviors differ between blacks and whites. Blacks and Hispanics invest less money, and their investments are in safer yet low-returning assets, making their wealth levels about 90 percent lower than the wealth levels of median whites, even when their level of income is only 40 percent lower. This has an effect on the growth of overall wealth.

But wait, there’s more!

In addition, while blacks always considered their homes to be their “best overall investment,” that, too, is changing, falling from 61 percent in 2004 to its current level of 37 percent. How they view stock investing, however, is changing in the opposite direction. In 2004, only 28 percent of blacks felt that stocks were their best overall investment. But in the recent survey, that number increased to 41 percent.

What all of this may point to is closing the gap in wealth inequality between black and white Americans as the upward trend for more black investors in the stock market continues.

Would you like to join an investment group? Click here.
For more details about the study, visit www.arielinvestments.com/content/view/3006/1850/


Posted on December 6, 2017 By Staff With 1 comment

Get in Shape With These 7 Black-Owned Fitness Companies


When it comes to supporting black-owned businesses, we often think of all the retail industries, restaurants, hair care, financial services and other types of industries that are owned by blacks. But there are other industries to also keep in mind, like fitness centers.

Getting in shape is the goal of millions of Americans, and there are so many successful, black-owned fitness businesses that are good at it, and make it fun, too. Here are the top 7:

  1. KTX Fitness – these Atlanta-based fitness centers are led by Keith Thompson whose trademark is cycling to urban and hip-hop music. The centers also offer boot camps, step classes and total body workouts. Their classes also travel to places like D.C., NY, Cincinnati, and Toronto.
  2. Mr. Shut Up and Train – Rahman Grayson leads this Atlanta-based fitness program that offers free workout plans. Grayson offers fitness challenges as well as personal training services that are designed to push people out of their comfort zones in order to accomplish their fitness goals.
  3. Black Girls Run – launched in 2009 by Toni Carey and Ashley Hicks, Black Girls Run now has 69 running groups in 30 states across the United States. Their goal is to help African Americans fight obesity and stay fit.
  4. Brukwine – this fitness company, founded by dancers Tavia and Tamara, combines a very rigorous routine of dancing and workout. For those who want to learn Caribbean dance as a way to stay fit (Rihanna, Beyonce, Jennifer Lopez like it!), classes are currently being held in New York.
  5. Shaun T – is one of the most popular fitness gurus. His fitness infomercials include Insanity, T25, Hip Hop Abs, and Rockin’ Body, and he has sold 10 million DVDs. He tailors his workouts to fit every one’s style and makes it fun, too.
  6. Black Men Run – helps black men fight against cardiovascular disease and stroke by scheduling running/jogging events in cities across the U.S. The organization started in 2009 to develop a healthy brotherhood for African American men.
  7. JJ Smith – is a popular nutritionist, certified weight-loss expert, and author who shares advice about losing weight and getting healthy. She has appeared on shows such as The Steve Harvey Morning Show, The Montel Williams Show, The Jamie Foxx Show, and The Michael Baisden Show and has been featured in magazines such as Glamour, Essence, Heart and Soul, and Ladies Home Journal.

Posted on March 21, 2016 By Staff With 0 comments

Black Financial Expert Releases the World’s First Investment Book For Children


Wesley Learns to Invest by Prince Dykes is the world’s first investment book that targets children readers. The fictional book is about an 11-year old boy (Wesley, named after his 4-year son) who wants a gaming system, but instead learns about the importance of hard work, investing, and choosing stocks wisely. In the story, the boy’s father teaches him about the stock market, setting goals, and making smart decisions related to finances.

Wesley Learns to Invest by Prince Dykes is the world’s first investment book that targets children readers. The fictional book is about an 11-year old boy (Wesley, named after his 4-year son) who wants a gaming system, but instead learns about the importance of hard work, investing, and choosing stocks wisely. In the story, the boy’s father teaches him about the stock market, setting goals, and making smart decisions related to finances.



Black Financial Expert Releases the World’s First Investment Book For Children

Wesley Learns to Invest uses real world experiences to teach children valuable financial principles and practices while they are still at a young age. The book emphasizes that nobody can always have what they want. Children wanting material things have an opportunity to learn about managing finances, and even investing, from this innovative narrative.

The book was released in June 2015, and is already very popular – especially in the state of Hawaii where the author is based. It has been added to several local school libraries and public libraries throughout the state. Its currently available for purchase at Amazon.comBarnesandNoble.com, Books-a-Million, Kindle, and iBook. Order yours today!

About the Author

Prince Dykes is a 31-year old active duty service member stationed at Pearl Harbor, but he has a lot of business and finance experience and knowledge that inspired him to author an investment book for children. He works as a logistics specialist in the military with 12 1/2 years of responsibilities related to finances, he has an associate’s degree in general studies, bachelor’s degree in management, and Master’s in Business Administration (MBA), and he has a Series 65 license (Federal Investment Advisor), a Series 63 license (Securities Agent), a life insurance license, and a health/accident license.

In 2012, he started Royal Financial Investment Group, which  invests in Black-owned businesses like Dewalt Brewing Company (winner of several beer festival awards) and The Global Art Gallery, which was listed on the Game Changers List for 2016 as selected by the National Association of Experts, Writers, and Speakers.

Royal Financial Investment Group has also created and published the world’s first captain venture app for the general public Investors and Business Owners Hub (IABOH). Available at the Apple app store and Google Play, it enables entrepreneurs to find investors while opening the general public up to the world of capital venture.

The firm has been featured on various Internet radio shows, and in the True Citizen newspaper, iHeart Radio’s “The Rick Hamada Show”, Fortune Magazine, The Huffington Post and Apple/Andriod apps.  They were also featured in the January 2016 edition of Fortune Magazine.

Dykes is also married with a 4-year old son Wesley.

For more details about Royal Financials, visit www.royalfinancials.com

Royal Financial Investment Group

Twitter: https://twitter.com/royalfinancials

Email: prince@royalfinancials.com


Phone: 706-691-6386

Black Financial Expert Releases the World’s First Investment Book For Children


Posted on February 26, 2016 By Staff With 2 comments


Rev. William Washington Browne, founder of first black-owned bank

Rev. William Washington Browne, founder of first black-owned bank


From slave to bank owner

Reverend William Washington Browne established the bank to serve the financial interests of black depositors. He wanted a bank that would serve to protect the finances of black clients to ensure their finances could not be monitored by whites.

The name of the bank came from the Grand Fountain United Order of True Reformers, a black fraternal organization established by Browne in 1849. Racial tension remained high after the Civil War, so Browne established the first black-owned bank in Richmond, Virginia, which initially operated out of his home. Two years later, the bank moved to its location several blocks away at 604-608 North Second Street.

Thrived despite the economic depression

The bank did very well. When the U.S. economic depression of 1893 hit and people were panicking and rushing to the banks to withdraw their money, Browne’s bank was one of the few that survived. In fact, it was the only bank in Richmond that was able to pay out the full value of it’s customers’ accounts and remain in full operation.

After Browne’s death in 1897, the bank continued in operation. It also expanded into other areas, such as newspaper, real estate, a retirement home and a building and loan association. It’s growth included operations in 24 states.

The downfall

However, under the new president, Reverend William Lee Taylor, the bank was mismanaged, often making unsecured loans which defaulted. The straw that broke the camel’s back was a bank embezzlement of $50,000 by the bank’s cashier. By 1910, the State Corporation Commission ordered the bank closed. But, it remains in history as the first bank owned by African Americans in the United States.


Read more by visiting www.blackpast.org/aah/true-reformers-bank-1888-1910


Posted on February 16, 2016 By Staff With 1 comment

Muskogee, Oklahoma Black Business District You May Not Know Anything About


Muskogee, Oklahoma Black Business District You May Not Know Anything About

Even before the city of Muskogee came into existence, the Three Forks region was rich with cultural diversity. A large African American presence has existed in the region since it became a part of the U.S. following the Louisiana Purchase.

Both free and enslaved blacks were a part of the Indian removals that brought members of the Creek and Cherokee tribes to the Indian Territory. Interviews of Cherokee and Creek freedmen indicate that those held as slaves had a surprising amount of latitude. They worked almost as tenant farmers, choosing their own home sites, earning money from skilled labor, even owning guns for hunting.

Following the Civil War, many of the now freed tribal members returned to their former homes in the bottom lands of the Three Rivers. They rebuilt their homes on land they could now claim as their own. They also built institutions such as schools, churches and farming cooperatives, like cotton gins.

The antebellum years also brought an influx of “state blacks,” those former slaves of the South seeking a better life in the Indian nations. At first, there was some mistrust between the tribal freedmen and state blacks, but over time the two groups melded together.

When the mostly black and Indian community of Creek Agency became the new railroad town of Muskogee in 1872, the population continued to be dominated by freedmen. In Muskogee’s first municipal election, there were more black voters than white.

This gradually changed when the federal court was placed in Muskogee and an influx of attorneys came to town. The Dawes Commission also brought a battalion of government workers and shifted the demographics of the city.

Still, Muskogee’s black community was vibrant and successful. Despite the injustices of segregation, which became the law at statehood in 1907, freedmen descendants built businesses, pursued quality education in their schools, established churches and organized civic clubs.

Though some black residents worked as general laborers, porters and domestics, just as many occupied skilled trades as plumbers, bricklayers, machinists, butchers, tailors and carpenters. They owned small businesses such as grocery stores, millineries, livery stables, and blacksmith shops.

There were a number of African American members of the professions as well, working as lawyers, teachers, physicians, surgeons, dentists and pharmacists. Black entrepreneurs opened funeral homes, clothing emporiums, restaurants, hotels, newspaper offices and photography studios.

The black business district clustered along Second Street and Market Street and served the black neighborhoods that bordered these corridors.

Smaller businesses could also be found within those neighborhoods where elementary schools named Langston, Dunbar, Douglass and Wheatley were built.

A Negro Business Directory published in 1942 proudly proclaimed that Muskogee and neighboring Taft had a black population of 15,000. Driven by a well-organized black businessmen’s club, the directory stated that “Muskogee Negroes enjoy a (prestige) unequaled anywhere else in America.”

Quoting a long-time Muskogee resident, the publication proclaimed, “There’s more Negro lawyers, doctors, realtors, etc., to the square foot than there is anywhere else in the world.”

The success and vibrancy of this part of Muskogee’s past should be celebrated as testimony to what a community can accomplish when it strives for the best.

Muskogee, Oklahoma Black Business District You May Not Know Anything About


PDF file 



Posted on February 8, 2016 By Staff With 1 comment





We love the idea of crowd funding. So we decided to create one specifically for African/Black Owned business with BBNomics to create a self-help approach to the funding issues BOB’s face in this current market.  Crowd Funding is a perfect mixture of social media, wisdom of the crowds and good old-fashioned business. For those of you who don’t know what crowd funding is, it’s a way of collecting funds for a project, product or initiative. We are specifically targeted projects in predominantly black neighborhoods.

The concept is simple; people commit to funding your project but are only charged if you reach some pre-defined target. We specifically use PayPal’s for this idea and we used for a few reasons – mainly because it works internationally, unlike the alternatives which are USA only.

Through BBNomics you create an entire project; post it and we promote it for you our site and users can commit to funding your project directly from here. This has some massive benefits. All the time we spend marketing your project will benefit your own concept.

In order to qualify your concept must be 100% Black or African Owned, you have to do your homework; business plan, financial worksheet, research, a legit business model and much more. In addition, we will need 100% accountability once you meet your funding goals.

After you pay a few minimal processing fees, you keep 92% (partial proceeds to Paypal and the other portion to BBNomics) of your funders’ contributions. That’s more money for you to get your project started.

Another huge benefit is that you can create any type of project you want. As long as you aren’t breaking any of Crowdfunding or PayPal’s rules (which would only really prohibit illegal projects), you’re free to fund whatever you want.

What to do once you decide you want to crowdfund a business or project on BBNomics? 

  1. Tell your story. 

    As the old adage goes: facts tell, stories sell. When it comes to eliciting customer engagement, a campaign with a good story is an unparalleled strategy. Did you experience some kind of obstacle on your path to entrepreneurship? Did a major life event influence your career choice or business decisions? Tell your story in your crowdfunding pitch to make a connection with backers and encourage engagement.If you don’t have a personal story to share with your audience, share facts and highlights about your start-up, product or vision instead. Describe the problem (and severity of the problem) your product will solve, or discuss the vision for your start-up. Keep your tone and messaging personal to make backers feel closely connected to you and your project.

  2. Provide value for value. 

    Crowdfunding campaigns hinge on reciprocity. If your start-up offers fantastic products, rewards or opportunities, you’ve created a huge incentive for backers to pledge to your campaign. When choosing your reward tiers, reflect on whether the incentives would appeal to you if you were the consumer; ask friends, family members and business acquaintances for their honest opinions as well.

  3. Introduce scarcity. 

    A basic law of economics dictates that scarce supply inherently creates greater demand. Create greater demand for your start-up by limiting one or more of the higher level rewards to just a few — this will inflate demand for those rewards and result in higher pledge amounts for your crowdfunding campaign!

  4. Create a marketing event. 

    People love to feel like they are part of something bigger than themselves. Try to build a feeling of excitement and rally others around your crowdfunding campaign by tying the launch to a large, well known event. You can connect your product to a holiday, sporting event, or season to increase the momentum surrounding your launch. You can leverage the emotional connection surrounding these events to get people excited about your product and engage them in discussions.This is especially useful for connecting with backers through social channels, capitalizing on trending topics and popular hash tags to get more eyes on your fundraise!

  5. Highlight examples of social proof. 

    Going back to the human desire to feel like a part of something bigger than themselves, most people don’t want to be the first or only supporter of a crowdfunding campaign — they want to see other influential advocates joining in. Do you have someone notable as an adviser, backer or endorser of your start-up? Share your list of partners and patrons to give confidence to new backers and let them know that they won’t be the only one at your party.

  6. Build credibility and legitimacy. 

    Many backers will believe it when they see it. In other words, they require some kind of evidence  that your start-up is legitimate and picking up steam before deciding to back your crowdfunding campaign. Show your backers what they’ll be supporting in detail — how it works, how you came up with the idea, and even pictures or videos if you have a prototype. Remember that you will likely never meet your backers, so the more proof you can provide that your start-up is legitimate the better.

  7. Interact with your supporters. 

    Don’t leave your backers in the dark for weeks after they’ve supported your project. Interact with your audience through frequent updates, thank-you emails or social media outreach, and responses to their questions and feedback.You can build anticipation and increase engagement in many ways. Post updates counting down to a big surprise regarding your project, conduct a product giveaway, or even host a contest involving your crowdfunding campaign. The opportunities here are endless and can be tailored for your specific start-up. When interacting with your backers, always encourage an open dialogue and engagement. In general, people would rather talk than listen. Treat your updates and outreach as a conversation rather than a one sided message.



Posted on January 14, 2016 By Staff With 0 comments








Nationwide (BlackNews.com) – BBNOMICS is proud to announce its Black Business generating crowd funding site, which serves as a means of creating the capital necessary to launch entrepreneurial endeavors. BBNOMICS has a built-in Marketing Program that will serve the business pursuits of black businesses entrepreneurs and organizations around the globe. Crowd funding is the perfect mixture of social media, business sense, and word of mouth crowd wisdom. Crowd funding is a way of collecting funds for a project, product, or business initiative in which both the investor and project recipient get rewarded for their submission to the project. It is also an engine of change for a new way of economics spurred by the power of cooperative investment. This crowd funding venture has at its core a goal of empowering predominantly black neighborhoods across the globe by circulating community dollars in a way that will foster the spirit and activity of business cooperation.

The concept is simple, people simply commit to funding your project and are rewarded once the project or organization reaches  the pre-defined goal. Through BBNOMICS you can create an entire project and promote it on the site for viewers to choose, at the minimum contribution of $5.00 anyone can enjoy investing. This has some massive benefits. For the duration of time your project is posted on BBNOMICS it will benefit tremendously from marketing and advertisement, giving your product or service a solid foundation to launch from. It is the purpose and desire of BBNOMICS along with its affiliates to the see the projects of its participants get funded and we are not afraid of the hard work and personal touch necessary to see your business dreams a success.

BBNOMICS in its concept and internal organization will have the awesome potential of creating a funding source for Africans globally. Cooperative Economics entails a group of people working together for the mutual benefit of their community and future. The goal is to create a minimum of 24 business owners per year; or in other words raising capital for 24 funded and fully functioning business entities, with a target funding goal of $1.8 million annually.

The plan is generate capital for small business by using unique and creative methods.  The way this organizations will do this is from good ole’ fashion investment backers contributing directly to the website and being rewarded for doing so. The other opportunity is created from BBE Investment Club.  BBNOMICS users will have the option of signing up for BBE INVESTMENT CLUB, which is a capital creating club that give individuals and our group access to thousands of dollars as an alternative to traditional funding.

Here’s the company’s message: “Get funded on BBNOMICS! We want to meet a 97% success rate; this we believe is possible through our $5.00 minimum contribution, as well as our commitment to have our backers rewarded for their contribution. Be there when our community is looking for meaningful projects to support. We now have a platform which assists the funding of Black/African Owned businesses worldwide. Connect with your backers by joining us and allow people to find you. Encourage your friends and family to visit the site and share, rate, recommend, and get rewarded for patronizing a business or organization of your choosing. BBNOMICS also provides an open forum for black business men and women to dialogue about economic topics relevant to collective success.”

BBNOMICS has a space where users can add photos, a company or personal bio, and a 180 second promotion “pitch” video. They allow users to make the most of their project by giving them an opportunity to showcase it to savvy backers who are searching for worthy projects to support. This continuous cycling of black-owned business activity will produce economic revitalization across the African Diaspora.


As part of the BBNOMICS program, users have access to the following benefits:


When conducting a crowdfunding campaign, you may also generate traction for your start-up. This will be demonstrated through large amounts of backers, pre-orders of the product or service your start-up offers, or a significant amount of media interest. Generating traction is an important step to prove success and prepare for investor pitching.

Social proof.

When potential clients show interest in your start-up’s product or service, you’ve generated social proof. This is essentially showing that other people believe in what you’re doing. Another way to generate social proof is to take on advisers prominent in their respective (related) fields.

Press coverage.

Helpful media coverage could include a feature on your company in a popular news station, blog, or print publication. Press coverage will generate more eyes on your campaign and create brand awareness for your start-up. It’s also a great way to bring in backers outside of your personal network.


Throughout the course of your crowdfunding campaign, you’ll have the opportunity to engage supporters and grow your audience. The result? Your campaign doubled as marketing for your start-up!

Potential investor interest.

Investors are interested in ambitious entrepreneurs whose ideas have garnered traction and social proof. Whether they read about your new product on a popular blog, or hear about your innovative campaign from a friend, a successful crowdfund is a great way to capture investor interest.

The plan of BBNOMICS is to create the mindset and practice of cooperative economics. This method will encourage us to launch businesses, garner support from our community, all the while encouraging those same businesses to be responsible to the community.

For more details, visit the web site at www.bbnomics.com or contact inquiry@bbnomics.com or [913-4BUYBLK].



BBNOMICS website translates into 60 different languages. Join today and give today.


Posted on January 13, 2016 By Staff With 0 comments

Top 7 Black-Owned Firms That Help Other Black-Owned Businesses



According to federal statistics, there are more than 2 million Black-owned businesses in the country, but many are struggling to stay afloat. Many generate revenues of less than $100,000 a year, and have few employees. So what’s the plan for 2016?
Here are 7 Black-owned marketing, public relations, and diversity recruitment companies that can help:

#1 – The Front Page Firm: This firm, launched by PR executive Tosha Whitten Griggs (best known for her work with BET), is a full service publicity boutique specializing in executive and talent visibility; television and film campaigns; red carpet premieres; and special events. They are known for being the go-to publicists for mainstream/urban media cross-over campaigns. Their clients include Bounce TV, the Queen Latifah Show, the Oprah Winfrey Network, and Spelman College.

#2 – Foote Communications: This firm, launched by marketing and PR veteran Neil Foote (best known for his work with the Tom Joyner Morning Show), combines traditional public relations and content management and social media for entertainers, entrepreneurs, corporations and educational institutions. His services include public relations, graphics & design, social media strategies, web site management, and more. Their clients include the Tom Joyner Morning Show, the African American Museum of Dallas, Rickey Smiley, and J. Anthony Brown.

#3 – BlackPR.com: This company, launched by marketing guru Dante Lee, offers an extensive press release distribution service to all the African American newspapers, magazines, TV and radio stations. For just $150, they can help you get your story in some of the country’s top Black publications, and they can even help you get radio and TV interviews. Their clients include the NAACP, the Tom Joyner Foundation, Tavis Smiley, Iyanla Vanzant, TV One, and BET.

#4 – HBCU Connect: Looking to hire African American college students and graduate? This company, launched by social media pioneer Will Moss, can help you do that for as little as $249. Their online career center offers various options including posting simple job listings to options for banner ad packages and employer showcase listings. Their clients include Microsoft, FedEx, United Negro College Fund, Merck, and many Historically Black Universities and Colleges (HBCUs).

#5 – PR, Etcetera: This company, launched by African American PR veteran Toni Beckham, offers several professional marketing communication services including branding, crisis communications, public relations, media training, and even technical writing/proofing. Their clients include the Bay Area Black Expo, Rainbow/PUSH Silicon Valley Project, the City of Oakland, and the National Coalition of 100 Black Women.

#6 – TaylorMade Media: This company, launched by PR expert, media coach and best-selling author Karen Taylor Bass, creates strategic public relations, branding, and marketing campaigns for corporations, luxury brands, celebrities, athletes, and entrepreneurs. Karen has been featured on Dr. Oz, CNN, BET, NBC Today, Fox-TV, and in Essence Magazine.

#7 – BBNomics Crowdfunding Site:  Building a Platform to aid Black people in pooling their resource and gain financial independence.

BBNomics is all about group reliance, real money wisdom, for our people who want to beat the odds, prove everyone wrong and become a beacon of light in the world by living life with a purpose.

The aim is making an impact by providing a platform for everyone to actively engage in fundamental principles of group economics, group-love, financial literacy, entrepreneurship, and philanthropy. It’s for our people who are serious about taking their lives — and their POWER — to the next level!

Source: blog.blackbusiness.org

Posted on January 7, 2016 By Staff With 4 comments



By: James Clingman

When you die, what will you leave behind, bills or benefits?

That’s the main question posed by the upcoming documentary film by Atlanta videographer and filmmaker, Ric Mathis. The question is applicable on a personal and collective level, and one each of us should honestly answer. Mathis has captured the essence of that question, as well as the practical solutions to the frivolous Black spending phenomenon, in his upcoming film, Black Friday: What Legacy Will You Leave? He transposed all the Black Friday rhetoric into appropriate action, not only for that day, but throughout the entire year and for the rest of our lives.

Topics of discussion in the film include negative spending habits, introduction of financial literacy to our youth, and the absence of support for African-American owned businesses by Black consumers.

“Black Friday is the Noah’s Ark of Economics, if you are not up on this you risk drowning in a sea of debt,” says Mathis.

After discovering the alarming imbalance of Black spending compared to economic growth within the Black community, Mathis used his videography expertise to educate and stimulate appropriate behavioral change with his film. He lays out the deficit-based economic model by which most of our people are living, and then presents an asset-based model for which we must strive.

As I stated on Montoya Smith’s Atlanta radio show, Mental Dialogue, considering the fact that Black Friday has saturated our mental tablets to the point of becoming just another cute phrase with no substance, writing and even doing a film on the subject of Black Friday is tantamount to trying to find a new angle to sell a bag of ice.

Even though I heeded the calls for blackouts and stayed home on that day, my response has always been that blackouts would not really make a difference unless we implemented a long term strategy that directed the dollars we withdraw back to ourselves and our own businesses. It’s not just about what not to do— it’s more about what to do.

Mathis deals with my contention in a positive manner by covering the short term and the long term repercussions of our withdrawal and recycling of Black dollars in his film. It’s not just about Black Friday itself or the few days preceding and following Black Friday. Rather, it captures the various aspects of a successful economic empowering strategy, beginning with an introspective question each of us can answer, and then building a foundation of information regarding frivolous spending, economic literacy, saving, investing, business development and support, cooperative and collective economics. Mathis caps it all off with practical solutions to stop the bleeding and reverse our trade deficit with other groups in this country.

Explores the Validity of ‘Black Friday’ Protests with His Insightful Documentary

The term Black Friday did not emanate from Black people. After several iterations of the term as far back as 1961, it has been promoted as a positive reality of businesses reaping huge profits not only from Black consumers but from all consumers. Although quite apropos when it comes to the Black consumer, vis-à-vis our penchant for spending our money on everything anyone else makes, the term “Black Friday” does not have to be our reality, which is the basic message from the film. We deserve what we accept, and we must stop accepting the self-deprecating images and self-defeating characterizations attributed to Black people as it pertains to our economic interests. Our economic imperative must be rooted in the reality of our relative economic position in this country.

Many of the stories we read on social media are centered on Black athletes and entertainers who spend tremendous sums of money on material things and/or waste it in clubs on liquor and strippers. We read about robberies and murders by young people who want a certain pair of shoes or a jacket—and the latest craze—young girls are stealing hair!

Except for Black Enterprise Magazine and a few other Black-owned print media, the stories about Black entrepreneurs and others who are doing great things in the economic arena are buried, if they are in print at all. So who bears the responsibility of changing that reality? A long time ago I wrote, “The answer to media bias is ‘media by us’.” Ric Mathis has answered that call of responsibility, and I dare say obligation, to produce a video that will not only enlighten us but also move us to action—move us to take responsibility for the financial resources with which we have been blessed.

As we reflect on our answers to Black Friday’s questions, let us also ponder our economic condition and then commit to making appropriate change toward true economic empowerment for Black people.

For more information visit TheFilmBlackFriday.com.

Explores the Validity of ‘Black Friday’ Protests with His Insightful Documentary


Posted on October 25, 2015 By Staff With 0 comments


 Black Community dream crushed! 

Soul City advertisementSoul City advertisement in the June 1977 issue of Black EnterpriseSoul City, a small town located one mile off U.S. 1 between Warrenton and Manson in Warren County, is a symbol of black economic aspiration fueled by the civil rights gains of the 1960s and 1970s. McKissick Enterprises, headed by civil rights activist Floyd B. McKissick (1922-91), financed the development of an African American community mainly with federal loan guarantees, grants, and contracts totaling $31 million from 1971 to 1978. With completion of the infrastructure, including a water treatment plant, hope abounded for the community’s success. However, job-creating industries did not come, and housing construction dragged. The developer also faced damaging federal audits and political opposition, eventually defaulting in 1980.


220px-Soul_City_entranceAlthough the federal government foreclosed on the Soul City project, the community continued to grow. In the mid-1980s the Z. Smith Reynolds Foundation gave a grant of $20,000 to renovate the historic Green Duke House and turn it into a Jobs Link Center. By the early 2000s Soul City was a 5,000-acre development with a few hundred occupants and assets that included a fire station, a janitorial supplies manufacturer, a poultry-processing plant, the Healthco Clinic, the Floyd McKissick Assisted Living Center, a Head Start preschool center, and recreational facilities.


  • floydFloyd McKissick  –

  • Floyd Bixler McKissick was born in Asheville, North Carolina on March 9, 1922. He became the first African-American student at the University of North Carolina at Chapel Hill’s Law School.Wikipedia
  • Died: April 28, 1991


References:Jason Alston, “Soul City’s Dream Is Unfulfilled, but Not Dead,” Durham Herald-Sun, 30 Aug. 2003.Osha Gray Davidson, The Best of Enemies: Race and Redemption in the New South (1996).Floyd B. McKissick, Three-Fifths of a Man (1969).

Additional resources:

Articles in NC LIVE

Image Credit:

Soul City advertisement originally appeared in the June 1977 issue of Black Enterprise. Accessed via Google Books, January 2014.


North Carolina History Project http://www.northcarolinahistory.org/encyclopedia/462/entry/

Posted on August 8, 2015 By Staff


Millennial financial coach hosting virtual extravaganza and you are cordially invited.

Latasha Kinnard is the CEO and Chief Coach at Start Young Financial and her story is an unusual one. Born in one of the poorest counties in the United States, Tasha would eventually defy all statistics to become one of the foremost authorities on Millennial Finances with a focus on Black Millennials who were born into poverty.

Tasha started her professional career working for a fortune 50 company managing $100 million budgets for some of the biggest brand names in the world. While the learning opportunity was valuable, Tasha felt that something was missing. Soon, she realized that her destiny was closely tied to serving her community. Once the realization settled in, Tasha quit her job, started her business, and began building an economic empowerment company from the ground up.

Tasha Professional Pic

Today, Start Young Financial, serves clients all over the world and has helped young adults to productively use over $200,000 in income. Currently, Tasha is building to provide training, job placement, business development, and more.

On August 8th, Tasha is hosting her largest financial event ever, and what she is calling the best virtual event of the summer. Complete with an amazing cohost, a live DJ, millionaire guest speakers, and an iPad mini giveaway, she is calling for young adults of all backgrounds to be in attendance. As someone who is familiar with the real streets and wall street, there is something for everyone!

The first headline speaker paved the way to her first million before she was 33 while kicking cancer’s butt. The second guest started as a drug dealer, turned his life around, and is now a dedicated retirement specialist for the black community. This is not your typical financial event. If you are focused on owning your financial destiny, building your community, and leaving a legacy, then this event is for you. No more hesitating, contemplating, or speculating. Take the first step and be there on August 8th. Time for us to reclaim power.

By: Miracle Lewis, MBA




“…we’ve got to strengthen black institutions. I call upon you to take your money out of the banks downtown and deposit your money in Tri-State Bank. We want a “bank-in” movement in Memphis. Go by the savings and loan association. I’m not asking you something that we don’t do ourselves at SCLC. Judge Hooks and others will tell you that we have an account here in the savings and loan association from the Southern Christian Leadership Conference.

We are telling you to follow what we are doing. Put your money there. You have six or seven black insurance companies here in the city of Memphis. Take out your insurance there. We want to have an “insurance-in.”

Now these are some practical things that we can do. We begin the process of building a greater economic base. And at the same time, we are putting pressure where it really hurts. I ask you to follow through here.

Now, let me say as I move to my conclusion that we’ve got to give ourselves to this struggle until the end.

Nothing would be more tragic than to stop at this point in Memphis. We’ve got to see it through. And when we have our march, you need to be there. If it means leaving work, if it means leaving school — be there. Be concerned about your brother. You may not be on strike. But either we go up together, or we go down together.”

– Dr. Martin Luther King Jr.

Posted on January 2, 2015 By Staff With 0 comments



Over the next 52 weeks aim to save $1,378, just like the previous 52-Week Money Challenge. But, do 52-Week Money Challenge in reverse this year.

Here’s what we are going to do instead:

Step 1. Save a Decreasing Amount Each Week

This first week of January (week 1) set aside $52. Then next week, decrease the amount, save by a buck and set aside $51. On week 37 save $16 and on week 52  save a whopping $1. Why?

  • Immediate results. After four weeks you’ll have an extra $202 in the bank. Under the rules of the challenge you would have saved a measly $10. In fact, it’d take you until week 20 to save $200+ under the previous version, it’s alright to start the traditional way but some of us have have tried this can up the anti a bit in 2015. After 4 weeks of doing this way, you’ll have something real and valuable to show for your efforts. Which 4-week weight loss plan would intrigue you more – one that yields a 1 pound drop or a 12 pound drop? Immediate results motivate.
  • Get the heavy lifting done. If $202 seems like a lot of money to save in January, then trust, it’d be an impossible amount for us to do it in December (sorry if the truth hurts). Let’s do the hard work right now, when our motivation is highest. Then, come next December we only need to find an extra $10 in our budget. Nice.

Step 2. Get Your Money Off the Kitchen Counter

Instead of saving money in a jar, I’m going to save it in One  United – Unity Visa Card Program. Why?

  • We consume things in jars. Jars are for jelly. And pickles. And mayonnaise. Consumable products come in jars. This challenge is about saving. It’s not about consuming, so a jar is the wrong tool. If you like the visual impact of watching a savings jar fill up, then use our 52-week money challenge printable chart to track your progress.
  • Distance is good. My financial life changed, for the better, when I distanced myself from my savings. I know myself. If I had a jar of money sitting on my kitchen counter, then I’d order pizza. Or, I’d get treats from the ice cream truck or an occasional black owned coffee  shop. I want to ensure that I will have $1,378 at year’s end (nothing spent out of it). To make that happen, I’ll automate deposits into One United – Personal  Banking and Deposits Products. (The icing on the cake of these One United accounts is that it takes 3 days for money to transfer back into your main checking account, which means it’s impossible to use the funds to cover a potentially financial off -set.)

52-Week Money Challenge

I’m raring to go with this year-long challenge. Are you with me? Here’s how we’ll do this:

  1. Decide. Commit yourself to the cause. Are you willing to do what it takes to save $1,378 over the next year? If you are, then decide what you are saving for. I’d recommend you save toward an emergency fund, unless you already have 3 months of living expenses set aside.
  2. Open a free One United savings account. If you don’t already have a free One United savings account earmarked for your purpose, then open one. My family has multiple One United accounts, with the oldest one being about 7 years old. (Note: your creditwill not be pulled when you apply for a savings or secured credit card account.)

    (Full disclosure: I do NOT earn a referral bonus if you open an account via my links, but I LOVED them for y-e-a-r-s before and shared them so I shared them anyways. I recommend them to get us moving our money in the right direction.) 

  3. Set up your January transfers. Pick the day each week you want transfers to happen (Friday, perhaps?), then set up your first four transfers*:

Week 1: $52
Week 2: $51
Week 3: $50
Week 4: $49

*If $200 seems like an overwhelming amount for you to save right now, then find a lesser number that still stretches you. Think – what can you sell? What services can you offer others (babysitting, pet sitting, walk the dog, shovel sidewalks, etc.)? What can you go without for a few months so you have money to save?

4. Track your progress. Use this free 52-week money challenge printable chart to track your progress.

What do you think? Are you going to do this year-long challenge 52 Week Challenge in reverse? What are you doing to make $202 available for you to save this month? I’d love to hear from you with ideas and feedback. (Update: Many have requested some type of visual to track their savings progress. I’ created one and shared it, click here. I also plan to share monthly reminders to get your transfers set up.)

Please share and spread the word. Buy Black Economics is purely and simply the creation of wealth in which our black communities’ benefit. www.bbnomics.com



Posted on January 1, 2015 By Staff


Economic Challenge

Take the 30-Day Economic Challenge

In the next 30 Days, do something that you’ve never done before

  1. Take the 30-Day Economic Challenge

    1. Get a US Passport  —  Get a US Passport (DON’T DELAY)

    2. Open an investment account

    3. Learn to code

    4. Review your finances and make some adjustments.

    5. Travel to a different country, next stop Haiti?

    6. Raise money on a crowdfunding site, preferably BBNomics

    7. Travel to Silicon Valley and ask for venture capital to start your business

    8. Take a trip to Wall Street and kick down some doors

    9. Reach out to some Black Investment groups, kick down some doors.

    10. Mentor someone

    11. Invest in gold or platinum

    12. Start a Roth IRA

    13. Write your will

“Next year at this time, you will wish you would have”… PG



Posted on November 15, 2014 By Staff



Rules for Building Wealth

Most parents want to teach their children responsibility – how to become self sufficient and succeed in life (after all, no one plans on raising a dead beat). However, very few actually accomplish this task. Why? Because, as parents, we are limited to the experiences our parents passed on to us; the antiquated notion that “responsibility” is simply getting a job, saving a little money, and maybe purchasing a car or some equally important item. Hopefully these seven rules will open your eyes and help you teach your children to avoid the traps that have stolen financial success from so many people.

Wealth Building Rule 1: Find a Financially Compatible Spouse

Your biggest obstacle to attaining wealth is often found right at home: It’s yourself and your spouse. Too often, people live their lives in a manner that is not conducive to creating real wealth and then get frustrated at “the system” when they only really have themselves to blame.

One of the most important financial decisions you will ever make is marriage (more specifically the person you marry and the timing of your marriage). True, love is not rational, but you’re going to have an enormously difficult go in life if the person you expect to be there holding your hand is constantly frustrating your dreams, ambitions, and goals. You want someone in the same boat you are, working towards the same agenda. If you are seeking an early retirement, he or she is there helping bring in extra income or clipping coupons to put more money away to compound. If you want to stay out of debt, he or she isn’t shopping behind your back or secretly charging on a credit card you don’t even know exists.

This isn’t a new lesson. It’s been around since antiquity: A house divided against itself cannot stand. A good marriage can radically accelerate your wealth building prospects (in fact, according to the research of bestselling author and academic Dr. Thomas J. Stanley, self-made millionaires are far more likely than the general population to be, and stay, married to the same spouse for life).

Wealth Building Rule 2: Recognize That Debt Is a Habit That Must Be Broken

With a few notable exceptions, debt is a form of bondage; a disease that enslaves the borrower. A few years ago, there was a high profile story in the news of a young lady attending college who shot herself because she couldn’t pay back $2,300 in credit card debt. Although an extreme example, it is a testament to the power money has over peoples’ lives. Imagine your life without owing anyone anything; your car, your house, your education, all paid for in full. Like what you see? When you want it badly enough, you will make extinguishing your debt your number one priority.

Does that seem impossible? It shouldn’t be. In the United States, most people don’t have any significant credit card debt. Likewise, nearly 1 out of every 3 homeowners has no mortgage against their property; they own it lock, stock, and barrel, without a payment in sight. Why does this seem surprising? It’s a phenomenon called stealth wealth. Psychologically, when people are handling their affairs responsibly, they don’t want friends or family to approach them asking for money or to treat them differently so they are unlikely to discuss their finances in public. For those of us who work in finance, it’s shocking to see how surprised most people are when they learn that 1 out of every 25 households in the United States is a millionaire. That’s the cold, hard, data-supported fact. Yet, people don’t believe it because they have no idea that their great-Aunt Bertha has silently been buying up shares of Procter & Gamble for decades, or their cousin Bob has 40+ years of municipal bonds shoved in a bank safe deposit box.

Wealth Building Rule 3: If You Don’t Like Where your Parents Were at Your Age – Do Things Differently

The old cliché that “insanity is doing the same thing over and over expecting different results,” holds just as true today as it did when it was originally written. If you don’t like where your parents were at your age, stop what you are doing. During your childhood, they taught you all they knew about money. For many people, these early years established how they feel about their finances today. In order to become financially successful, you must do something different than they did. Otherwise, you will end up exactly as they are.

Wealth Building Rule 4: When you Begin a Job, Look at the Pay of the Highest Employee

Whether you are looking for employment now or are thinking about it sometime in the near future, one of the most important things for you to do is to look at what the top-dog gets at any company for which you are considering working. This will give you an idea of how high you can expect to climb in terms of earnings and promotion. If the CEO is making $30,000 a year, you have no chance to make six figures. Select a job accordingly.

Wealth Building Rule 5: Do Something You Love and Get Paid for It

I remember going into college and being surrounded with people who wanted to be artists, scientists, and businessmen, but instead did what their parents or grandparents told them to do. There is no honor in being a doctor or a lawyer if you wake up every morning and hate your job. Pick a profession you love and you’ll never have to work a day in your life.

Wealth Building Rule 6: Understand the Money Myth

Money is nothing more than a piece of paper with the image of a long-dead person on it. When you understand that any power it has over you is derived from your relationship with it, you suddenly become free from the constant pressures and stress of thinking about it. Especially at times such as these, if you are putting money away for ten, fifteen, or twenty years down the road, stop checking your portfolio every day! There is nothing you can gain from it except stress.

 Wealth Building Rule 7: Your New Commodity is Not Your Labor, It’s Your Ideas

With the advent of the Internet and other technological advances, you are no longer limited to supporting yourself or making a living by your physical labor. The only limit you have on yourself now is your own imagination – your ideas are the most valuable thing you possess. Every man, woman, and child is a salesman for a living; if you don’t own a business or investments, then you sell your manual labor to a company in exchange for a paycheck. Change your product. The gap between the rich and poor does indeed grow larger with each passing year, but not because of inequalities or any other such injustices. Instead, it is because the rich understand money and how to use it. Capital is literally a seed; learn how to plant it to produce the best harvest. When you do this, you will rule your finances, not the other way around.


Posted on June 24, 2014 By Staff






1 – Black or African American

SOURCE: http://www.fms.treas.gov/mbdp/current_list.html


Posted on December 6, 2013 By Staff With 0 comments


          crowd funding

As discussed in last month’s column, one of the ongoing concerns for many new and existing businesses is financing. As the availability of bank loans and other traditional sources has become more scarce in recent years, entrepreneurs have been searching for new ways to finance their ventures.

One of the newer sources is called crowdfunding, also known as crowd financing. Crowdfunding is a group of people who were recruited to pool their money, usually by social media, to finance a new business, new product or other efforts initiated by a business or other organization. Crowdfunding is not limited to businesses. Crowdfunding spreads the risk across a larger number of investors and creates a group of supporters for the endeavor being funded.

It is different from angel investing or venture capital financing because of the large number of backers. The business is not obligated to one or to a small number of investors who may want some control of the project or business being supported. Some of the larger crowdfunding sites in operation are Wefunder, RockthePost and Kickstarter.

Organizations using crowdfunding to finance their ventures are not allowed to offer equity positions to investors.

At a recent Small Business Administration conference, an inventor of a new smartphone application discussed how offering a prototype of the product he we was developing helped attract more funding than he needed in just a few hours.

A restaurant owner at the same conference discussed how he gave a free meal at the restaurant to anyone investing $100 or more. The key is to find an incentive related to the product or business that also is attractive to potential investors.

The problems associated with not being able to offer equity to investors may be going away soon. The Jumpstart Our Business Startups Act, or JOBS Act as it is commonly known, was passed by Congress and signed by President Barack Obama in April 2012. Its purpose is to relax security laws to make it easier for smaller businesses to secure funding.

Many believe the law will open the door for crowdfunding investors to acquire shares in the ventures they fund. The Securities and Exchange Commission has not yet determined the details of the law or exactly how it would apply to crowdfunding, though.

If implemented in its current form, the JOBS Act will enable organizations to raise up to $1 million without having to go through the more complex process of a public stock offering. It appears the act will only apply to C corporations wanting to use crowdfunding. S corporations, a popular form of ownership for small businesses, are limited to 100 shareholders. This could severely limit the number of investors in any one crowdfunding project and limit the amount that could be raised.

Most of the organizations successfully using crowdfunding have created short video presentations of their proposition to post on the crowdfunding site. The site needs be to monitored and may need to be changed based on the feedback received by those who visit the site.

Organizations using crowdfunding to raise money also need to be prepared to answer questions posed by potential investors. They may want to know the details about where, when, why and how the funds being asked for will be used.

Potential investors are attracted to an organization’s crowdfunding proposition in several ways.

First, there is a group of investors who visit these crowdfunding sites on a regular basis. Second, other social media are used to drive potential backers to the site. For example, if an organization has fans on Facebook, these fans are a good pool of potential investors and need to be directed to the crowdfunding site through the Facebook account or the organization’s web site.

As social media develops and government continues to change the rules concerning how it can be used, crowdfunding appears to be a very attractive source of funding for many entrepreneurs and other organizations.

Perry Haan is professor of marketing and former dean of the business school at Tiffin University. He can be reached at (419) 618-2867 or haanpc@tiffin.edu

Crowdfunding creates more opportunities for entrepreneurs

The Advertiser-Tribune

Source – The Advertisers – Tribune

Posted on September 4, 2013 By Staff