Originally Posted by
Richard
In a city that is 78% African American where are the African American groups supporting other African American groups with seed money?
Where I am at I know lots of African Americans with a lot of money,in the millions,but the last thing they do is help other African Americans as a community.
But will be the first to say,African Americans need to come together as a community and support each other,but as a rule the more wealth they acquire the further they distance themselves from the rest of the African American community.
I remember years ago the city of Orlando provided seed money for African Americans,exclusively,but as a majority they started small businesses that they could have started without help.
After allocating 10 million in funding,1 year later none of the businesses started were still in business.
It also depends on what one is looking for in seed money and what the intentions are for it use.
When it comes to tech,very few cities across the country are know for easily acquired tech seed money,there are probably about 3 at best and that’s where people move to.
If one is looking for seed money to start a business,taking somebody that has zero business experience and handing them $100k and saying have at it is setting them up for failure.
So you not only have to have the ability as a city to provide seed money,you have to have the funds to provide the training before even you allocate the funds.
I am not sure where the concept came about that just because somebody is not African American it rains money down on them and there are lines of people with bags of cash just handing them out.
If it was that easy everybody would be doing it.