Dr. Sinclair N. Grey III - The Importance of Black Entrepreneurship


Whoever dismisses entrepreneurship doesn’t understand its importance and significance to this economy. Let me bring this closer to home. Black entrepreneurship is vital to the uplifting and empowering of our community. When companies are laying off workers because of one reason or another, African-Americans need to understand the importance of owning their own businesses. Without having control over one’s future, an individual will succumb to control of others.

Black entrepreneurship, as I mentioned is vital to the uplift of the African-American community. For too long, we have allowed others to come into our neighborhoods to poison us with products and services (e.g. liquor stores, pawnshops, and payday loan establishments) that cripple us rather than build us up. In fact, the more support these businesses get, the less likely it is for people of color to move up. Why do I say this? Because these establishments are destructive and damaging to the spirit in which African-Americans have – that of greatness.

We go to school and yet, we are not taught about the importance of owning a business. Too many of our youth aspire to be athletes or entertainers but fail to dream of becoming doctors, lawyers, business owners, and politicians, just to name a few professions. I want you to think about your upbringing for a moment. All of us heard these words – go to school, go work for someone, buy a house, get married, have children, and retire at age 65. Here's the problem - that's someone else’s dream. It’s not the dream which provides freedom nor is it a dream that creates a legacy - a legacy that we can leave for a children, grandchildren, and great-grandchildren.

Black entrepreneurship must be taught within every African-American family and community. Not only must it be taught, it must be encouraged and supported. Constantly supporting other businesses that don’t respect nor contribute to the struggles of African-Americans is non-sense.

No matter what business is started, (as long as it’s legal), we as a people need to support one another. Through supporting each other’s businesses, we are creating employment opportunities for people who can’t find work. In addition to this, the more businesses we own that are successful, we will then control the politics of our community. You need to know this – the businesses in your community control the politics of the community.

Let me remind you that Black entrepreneurship is about networking and working with all people. That’s right; black entrepreneurship isn't just a local thing; it’s a global mindset. I want to challenge you to step out on faith and create a business. Don’t let others discourage you because you were placed on this earth to make a difference. Do it with and through Black entrepreneurship

Dr. Sinclair Grey III is a speaker, author of The ABC’s of Making Business Networking Work For You , and success coach. Contact him at drgrey@sinclairgrey.org or on Twitter @drsinclairgrey. If you're ready to take your business to the next level, go to www.sinclairgrey.org and fill out the contact form.