Messay Contest 2024
The article states: “The bottom line is that when Black entrepreneurs are positioned to thrive,
we all benefit.” What does Black entrepreneurial success look like to you?
I believe that a world in which black entrepreneurs are able to succeed should be a
world where the value of an individual is measured by their ethics and their character and not
by their race.
Historically, black individuals the world over have often been deprived of educational
and vocational opportunities that have been afforded to millions of their white counterparts.
The primary distinction that has determined the degree to which these opportunities are made
available is skin color. Since our country’s inception, the chance to participate in the world of
business from the ground level has been a path that is largely inaccessible to our nation’s black
population. If we are to rectify the mistakes of the past and herald a new era, defined by
equality and black excellence, we must first address the systemic prejudice that has stymied the
establishment and growth of black owned businesses for centuries.
For hundreds of years, the institution of slavery prohibited our country’s black
population from creating personal wealth and achieving any real measure of economic
prosperity. Even in a post Civil War United States, where the racist institutions that perpetuated
slavery were being gradually dismantled, the opportunities afforded to black entreprenuers
seeking to further the growth and prosperity of their people were extremely limited.
In order to level the playing field and lay the foundation for a more equitable and
accessible platform in the world of business to be created, we first have to examine the
cultural, societal, economic, and governmental shortcomings that have stifled black
entrepreneurial success for so long.
Until fairly recently, most black owned businesses were patronized almost exclusively by
African Americans, due largely to the fact that pervasive racist ideologies have discouraged
people of other races (primarily whites) from engaging with these businesses in any meaningful
capacity.
I think the first step towards creating an environment where black entrepreneurs can
thrive involves America as a country making a concerted and collective effort to buy from and
do business with black owned companies and corporations. Finding capital and investors is
substantially more difficult for black owned businesses and funding for black startups has been
woefully inadequate compared to funding provided for white entrepreneurs.
Secondly, I believe that using black owned banks, also known as African American MDI’s
(minority depository institutions) can help foster an environment of inclusivity and provide an
opportunity for African American business owners and investors to thrive without the burden
of discriminatory and prejudiced practices that have held them back in the past.
Lastly, I believe the onus is on us as a society to actively promote and publicize black businesses
and entrepreneurs so that we can begin undoing the economic damage that has been caused
by centuries of racism.
To me, black entrepreneurial success means black communities across the country
participating in every facet of business and redistributing wealth within their respective
communities so that future generations might continue to thrive.