Common Thread of Failure in Black Businesses Revealedby Greater Diversity News September 19, 2014 0 comments
Atlanta — A recent study conducted by the Entrepreneurs Incubator Institute revealed that black businesses fail at a rate 18 times higher than that of their white counterparts with the exact same qualifications. The report cited that blacks are unfairly expected to achieve at the same levels as whites due to the broad stroke comparisons. Devin Robinson, business and economics professor and founder of EII stated, “The failure in black businesses often starts from the owner’s youth and discriminatory factors. Most blacks are only motivated to become entrepreneurs when corporate America rejects them. This rejection is often due to a criminal conviction, culture disconnect, underperforming aptitude or something that happened to that person as a youth. In addition, schools often put more energy into high performing students, leading to even better performance out of them. Average or underperforming students are rarely given enough attention and development, leading to worse performances.”
Entrepreneurs Incubator Institute was formed to give budding entrepreneurs practical training, mentorship and exposure by not excluding the cultural perspective. The institute does not require high school transcripts nor does it do a criminal background check on applicants. Participants who have completed training found that they were better prepared for discriminative challenges in business and learned that much of what they didn’t know, was standard information for white entrepreneurs.
Robinson further stated, “The element of entrepreneurship is often absent from the culture of black communities across the country. However, when blacks do decide to take this path, they are faced with a severe lack of true entrepreneurial information and requirements that are equal to whites, such as credit rating, down payments, wholesale prices, etc. which is not fair to many blacks that collectively start life from a more challenging place than whites.”
Robinson has proven to be an advocate for underdogs overall. He stated in the past that the minimum wage small businesses must pay to employees and tax rates small businesses must pay to government should be less than what corporations are required to pay. He said, “It is unfair to small businesses that are trying to grow to be held to the exact same standard of larger more established corporations. This creates a despotic fascist business community.”
You can learn more about Entrepreneurs Incubator Institute by visiting www.EntrepreneursIncubatorInstitute.com or by calling 770-850-9949. •