Tag: economic empowerment

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I found this video by USA Today that provides some historical facts about Women’s History Month that I would like to share with you. Please watch/listen before proceeding to the rest of my message.

As we begin to wrap up the month of March, let’s reflect on the things we did and said this month to celebrate, uplift, and empower women of all ages and backgrounds.

In what ways were you an ally, advocate, or bridge builder?

In what ways did you chip away at those glass ceilings?

How were you a unifying voice?

What steps did you take this month to help change the common practice of “This is how we’ve always done it”?

Don’t underestimate the impact of compounded efforts.

Wanting more for women doesn’t mean wanting less for men. Lifting a woman up doesn’t mean tearing, kicking, or holding a man down. Empowering women doesn’t mean weakening men. Protecting women doesn’t mean abandoning men. Freedom for women doesn’t mean enslavement of men. A woman’s identity is not and should not be defined by the emasculation of men. We’re not breaking glass ceilings just to force men into glass rooms. When you hear or read that type of nonsense, speak up.

Society ceases to exist if we are not both here, living and contributing. The world is filled with chaos and confusion if we’re not both thriving.

Let’s stop the “Either” “Or” merry-go-round, and let’s instead embrace the power of “And”.

This month is in celebration of all women, not just some, not just the pioneers who pushed through barriers, but all women— of every status, orientation, title, ethnicity, shade of color, nationality, religion, weight, height, and background. Let’s continue and build upon our efforts in the months that follow.

Love,

Natasha

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Almost thirty years ago I first learned about the Freedmen’s Bureau and the Freedman’s Savings Bank (officially known as the Freedman’s Saving and Trust Company).

While in college I was able to do further research on the legacy of freed Black slaves in America, and the one thing that stood in the way of their financial inclusion and the future of economic development in Black America more than one hundred years later— that one thing was FEAR.

The southern white “establishment” was fearful of what inclusion and development of freed Black slaves would mean for them (the former slave owners), and whether or not the tables would be turned on them— if the human “property” they enslaved for more than 100 years finally decided to “get even”.

The Freedmen’s Bureau and the Freedman’s Bank struggled and failed in 1874 (after 9 years) for many reasons, but what triggered their fall was the fear of seeing freed slaves rebuild their lives and join the competitive landscape of the country that they built through their own blood, sweat, and tears.

How could the enslaved now have the right and financial capability to own land and property, live by, and exist at the same level or above the same people who had enslaved them? How could they be as or more educated than the people that outlawed slaves from being taught to read and write? I’m sure for many white southerners, this was tantamount to blasphemy.

Today, the U.S. Treasury Department is celebrating and honoring the renaming of the U.S. Treasury Annex, back to its original name, the Freedmen’s Bank.

Yes, what most of us did not know is that although the bank failed and shut down, the building in Washington D.C. (the relocated national headquarters) was never destroyed. No one struck a match to it or bulldozed it. It’s been here hundreds of years later staring at all of us. Isn’t that ironic? Fear is only capable of doing so much. It is not all-powerful. It can’t hide for long. It can only destroy so much, but mostly it destroys itself.

You have to know the history to understand the relevance today…

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By Natasha L. Foreman, MBA

 

I wanted to share my thoughts regarding John Hope Bryant’s brilliant article that was posted on and by Bloomberg BusinessWeek today. I also wanted to have a healthy dialogue with those individuals who showed their lack of critical thinking skills before they reacted, and quickly responded in the negative, to the article.

It is my opinion that the moment many of us don’t understand something or it rubs us the wrong the way, the remaining of what we read or hear turns more into an episode of Charlie Brown, just a bunch of whah whah whah blah blah blah…and we don’t hear or interpret anything else. We are then too focused on a counter argument, but never on seeking clarification. Here is the link to John Hope Bryant’s article: http://www.businessweek.com/articles/2012-04-04/if-bill-gates-were-black-dot-dot-dot

Below is my comment that I submitted to Bloomberg, that they will hopefully post in their comments section below the article. After you read John’s article and the comments made by other readers, please share your thoughts about the article and comments (inclusive of mine). Let’s have some healthy dialogue and if possible, some positive solutions to issues facing the Black community specifically, and all underserved communities in general. Here you go:

Economic empowerment and the eradication of poverty first begins with understanding the history of how this country was built, how we rebuild during economic downfalls, and how the least of God’s children are impacted. It requires us to look at the missing piece between the have’s and have not’s. So yes, possessing a bank account versus being robbed blind at check cashing centers is a bonus. Yes, having a credit score around or higher than 700, instead of 550 and lower, is a huge predictor of a community’s growth and prosperity—as well as an individual’s ability to thrive not just merely survive. Yes, being financially literate is imperative, because if you aren’t then you run the risk of falling prey to predatory lenders who can smell your desperation miles away.

If you don’t have a bank account then how are you depositing or cashing checks? Are you going to check cashing centers and giving them a portion of YOUR money to gain access to YOUR money? That doesn’t sound like the wisest of choices when you have a choice. Show me one millionaire or billionaire who doesn’t have a bank account. Show me one entrepreneur without a bank account. Show me. I’m sure you can’t.

The banking system isn’t corrupt, there are corrupt INDIVIDUALS in the banking system; just like there are corrupt individuals in countless other systems including government, religious organizations, educational institutions, charities, etc. You can’t blame a crisis caused by unethical behavior on an entire system, because just as there were predatory lenders who knew customers were potentially high risk for loan defaults, there are some ‘victims’ of this economic downfall who knew they bought more house than they could afford, who knew that they didn’t have true job ‘security’ but gambled with the odds anyway, who claimed to earn more than they actually had (and eventually they had more month than money). So unethical decisions from individuals caused our country to suffer these past few years.

This is a brilliant post by John Hope Bryant, that clearly expresses the sentiment that if African Americans had a Bill Gates-type-entrepreneurial role model then the vision for the Black community would not be limited to a mindset of ‘only the lucky get out’, and the ‘victory’ would not be narrowed to simply having a ‘Black President”. 

Think about it, if Bill Gates was a Black man, the money he donates and invests would be injected within his community first and then worldwide. Don’t most of us consider taking care of ‘home’ before we take care of the rest of the world? Don’t we start local and then go global? Well if this were the case, then Black communities would be resuscitated through Gates community giving, and the country (and world) would see a different ‘picture’ of these communities. 

John Hope Bryant is NOT saying that Black people don’t have entrepreneurial role models; he is saying that we need MORE business owners who are employing thousands, not merely hundreds (or less). He’s saying we need more innovators, more businesses in technology, etc. that provide a competitive advantage within the U.S. in general, and within Black communities specifically. He’s saying we need MORE Black entrepreneurs going into the community, going into the schools and teaching and sharing the ‘magic’ in their success. 

He is saying that in order to eradicate poverty and gain economic empowerment in the Black community it is going to take the Black community, not government, not charity, not handouts, but hard work and each person reaching back to an open hand and providing a hand up out of the pit. It’s going to require Black people with 700+ credit scores teaching those with 550 and lower credit scores how they did it. It’s going to require Black entrepreneurs to hire within their community, to bring on interns to learn the ropes at their company, and to mentor young Black children.

The majority of our role models that our children regularly see come from entertainment and sports backgrounds, which there is nothing wrong with that, except if you lack talent in either area, then what?

Additionally, and no disrespect, but Oprah Winfrey, Magic Johnson, Bob Johnson, and others have built BRANDS that employ–but none to the extent of a Bill Gates level; and all three brands represent entertainment or sports. In 2007, Microsoft employed a reported 79,000 people. That was in 2007. Name one Black-owned company that employs 79,000 people? 

So John Hope Bryant’s article says, “what if Bill Gates were Black?” What changes would you see in the Black community? What would Black children aspire to become if they saw a Black employer hiring thousands of people within their community? How many Black people could be employed (since unemployment is HIGHEST in the Black community)? How many of our children would be encouraged to excel in STEM courses and pursue careers in those fields so that they too could grow up to ‘be like Bill’?

We need to take the emotion out; we need to stop wanting to attack everything we don’t understand, and start acting like we are intelligent enough to ASK for clarification if needed, and to ASK how we can individually and collectively help solve the problem.

How many of you volunteer in the Black community? How many of you work with the underserved and underrepresented? How many of you are helping to work towards a solution? Or are you merely only focusing on picking at and tearing down the things you don’t understand, and the things you are against? If you aren’t doing anything to help the Black community, and other underserved and underrepresented communities, then what does your opinion really mean, and what are you truly adding to this conversation?

John Hope Bryant you did an awesome job with this piece. We need our children to aspire to be entrepreneurs as much as (or more than) they aspire to be athletes and entertainers. Great, they want to be a football star, but let’s teach them to also start and build a business (now) as an additional revenue stream—so when their football career ends, they still have a career…and wealth, not just temporary riches! 

A broke mindset only gets the same results…an unfinished puzzle!

 

 

Copyright 2012. Natasha L. Foreman. All Rights Reserved.


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Attend the Women’s Economic Development Agency (WEDA) Beyond the Basics Business Bootcamp this Weekend:

We are Celebrating March – Women’s History Month!

In the Atlanta area? Join us for an affordable $99 Business Bootcamp at the SBA funded Women’s Economic Development Agency (WEDA) located in Midtown Atlanta this Sunday Mar 18th!

For details and to register, go to Eventbrite at http://www.eventbrite.com/event/2990738379

Please share this with vendors in your network.