INTELLIGENT BLACK MINDS
Did you go to college? Did you finish college?
When you finished college are you still fulfilled in your field?
Is the debt of higher education holding you back from other things you wanted to complete in life- other callings??
Do you want to start your own business but do not have the capital because of student loan debt?
These are many of the feelings expressed by our black community.
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BLACKS have overcome illiteracy and reduced the
educational gap between its people more than ANY other race of people on
this planet in RECORD time.
We went from not knowing the English language to creating our own. So the education is not
our problem- the problem we have is that we are relying ONLY on the
education to deliver to us what we can already do for ourselves- and
that is to create businesses of our own.
Its painful to conceive that our Black brothers and sisters will go into the same amount of debt to obtain a college based education-
only to experience afterwards that we are compensated less. This is what is occurring in the workplace today. Blacks with the same level of education are consistently making less than other races with the SAME level of education.
A 2013 study by the Center for Economic Policy & Research concluded that blacks are paid less when it comes to good jobs and also black women have the worst in this situation. The report can be found here:
Has Education Paid Off for Black Workers?
THE HIGHER EDUCATION SETBACK
So
by design the entire higher educational system is working against
intelligent Black America because we may have to borrow the same amount of money as other races to get the degree- but make less than our competition after obtaining the degree.
This is why it is not beneficial to spend so much time & money in college versus gaining experience.It is becoming imperative to avoid
the debt of Higher education. Pay cash- work your way through college to get it- or self teach yourself and gain experience... because the debt associated with acquiring a higher
education is destroying the economy of the black workforce before it even has a chance
to work or develop their own businesses.
THE SOLUTIONS:
*Shop for scholarships
*Attempt to pursue a degree while also seeking an internship or even work on the side in the field for free to learn and gain experience.
- EXPERIENCE & QUALIFICATIONS is the number one tool to set you apart from the competition!
*Attempt to pay for the higher education up front
*Go for the 2 year degree for qualifications- find an employer then have them pay for any additional education through tuition assistance programs.
Anything that can be done to minimize or reduce the debt burden will pay huge dividends into the future for you- your family- and next generation.
We as BLACKS spend the largest amount
of money than any other racial group, estimated to be 1.2 Trillion
(nearly 1% of the American GDP) which is estimated now to be 15
trillion. This spending exceeds that of the entire country of Mexico.
If Blacks were 1 unified country we would be the 16th largest economic force in the world.
Read on- you will
discover that Blacks contribute far more to this country & the
world than you think. Black Group Economics should be understanding the
impact we have and to use this knowledge to develop our own communities.
Seperated we are nothing- Unified we are ONE.
Buying Power of Black America
By D.A. Barber of Race Report
The spending power of “Black
America” is approaching a trillion dollars, making it the 16th largest
market in the world and on the verge of surpassing the gross national income of Mexico, according a new report.
According to a monetary break down of the black consumer market, “The Buying Power of Black America”
report notes that now may be a good time for businesses to “develop a
strategy for increasing their share of the black American market.” As
the nation recovers from the recession, “black consumers represent a
margin of profitability in most consumer product categories.”
The 105-page report, based on U.S. Department of Commerce data, says
black consumers spent $836 billion in 2011 on “clothing, entertainment,
food, beverages, toys, consumer technology, cosmetics, autos, travel,
and dozens of other categories.”
According to the report, “the top five categories showing an increase
in spending between 2010 and 2011 were Appliances, $2.7billion (29
percent); Sports and Recreational Equipment, $850 million (28 percent);
Personal and Professional Services, $5 billion (27 percent); Computers,
$5 billion (21 percent); and Non-Alcoholic Beverages, $4.3billion (16
percent).”
Black America ranks 16th in the global market with a significant
increase in their spending reaching nearly a trillion dollars. But more telling was how and which companies were targeting these black consumers through advertising.
“The largest single investment that Corporate America makes in the
Black community is in advertising,” said Ken Smikle, president of Target Market News
and editor of the report. “That investment is about $2 billion a year,
but it should be at least twice that amount given the importance of the
market and the role these consumers play in any company’s bottom line.”
The report ranked the major companies by the dollars they spent on
advertising in black media outlets and that ranking says something about
how corporate America views the spending habits of black America: The
No.1 company Procter & Gamble, spent $78.9 million in 2011, while
the No.80 company, Apple, spent just $1.6 million.
Original Article here: http://racereport.com/targeting-the-buying-power-of-black-america/
Other sourced material: http://www.africanglobe.net/business/black-spending-power-hit-trillion-2015-black-wealth-falling/
Black Buying Power To Reach $1.1 Trillion, Report Finds
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