Pumping Dollars into black business is the goal of National Black Business Month in August.
There are a hundred markets where just two percent of African-American income can generate 500 new jobs at black-owned businesses, according to the co-founder of National Black Business Month, being observed for the seventh year during August 2010.
"These markets have more than $1 billion in African-American income," said John William Templeton, executive editor of blackmoney.com. "We ask everyone, put particularly African-American families and organizations, to use the 31 Ways, 31 Days approach of National Black Business Month and visit at least one black-owned business each of the 31 days of August."
"For every $40,000 in new spending, an entrepreneur has the resources to create at least one new job," adds Templeton, author of Where's Our Stimulus: State of Black Business, seventh edition. At blackbusinessmonth.com, there are pages for the 120 largest markets which show how individual shoppers can create economic development, particularly during the busy vacation and back to school season.
"Additionally, black entrepreneurs are an important part of the leadership of communities which have been hardest hit in the recession," adds Templeton, featured with co-founder Frederick E. Jordan in the July Black Enterprise in an article by Jason Roberson entitled "Celebrating Black Business."
National Black Business Month is partnering with iZania.com, led by Roger Madison Jr. to highlight the community contributions of African-American-owned businesses each day during August as part of the Faces of Black Business campaign.
"iZania.com is a great example of the quadruple-bottom line benefit of experienced executives like Roger Madison who can create effective solutions to improve our communities and we're happy to work alongside Roger to grow the number and scale of black-owned businesses."
For example, Templeton leads a project called Potrero Progress, an initiative to teach teenagers how to create mobile applications for public health awareness in San Francisco. The project is holding a biotechnology career fair in a community of subsidized housing featuring the president of the California Institute of Regenerative Medicine on Saturday, July 31. The effort has created almost 20 jobs over the summer and is creating career pathways which will last for years.
These are the types of examples which will be featured in person and online during the Founders Symposium for National Black Business Month on Monday, Aug. 2 between 9 a.m. Pacific and 3 p.m. Pacific at Club Long Island, 4546 Third St. in San Francisco. Registration in person or for the webcast can be done online. Dynamic speakers such as Stanley Washington, president of the National Coalition of African-American Owned Media; Norm Bond, national president of the National Alliance of Market Developers; Dr. Barron H. Harvey, dean of the School of Business at Howard University and Roy L. Clay Sr., founder of Rod-L Electronics join us in an historic black business district--Bayview/Hunters Point--fighting off the impacts of development and gentrification by restoring historic entertainment venues such as Club Long Island, which owner Clarence Williams financed with $1 million of his own resources.
31 Ways, 31 Days during August 2010 National Black Business Month