Black Owned Business Starts Up 400% Compared to White Business Starts

Black Owned Business Starts Up 400% Compared to White Business Starts

RELEASED: 9:30 A.M. EDT, TUESDAY, APRIL 18, 2006

Revenues for Black-Owned Firms Near $89 Billion,
Number of Businesses Up 45 Percent

     Revenues generated by the nation’s 1.2 million black-owned businesses rose 25 percent between 1997 and 2002 to $88.8 billion in 2002, while the number of such firms grew by 45 percent in the same five-year period. This is according to a new report, Survey of Business Owners: Black-Owned Firms: 2002 [PDF], released today by the U.S. Census Bureau.

     “It’s encouraging to see not just the number but the sales and receipts of black-owned businesses are growing at such a robust rate, confirming that these firms are among the fastest growing segments of our economy,” said Census Bureau Director Louis Kincannon.

Prohibitive Regulations and Taxes

I'm an entrepreneur.  I would like to hire just 10 people.  But, I can't.  I'm not rich, not even close to breaking even ... well that's not true, but I'm JUST breaking even. 

I don't think lowering taxes goes far enough.  The four letter word "deregulation" is what I need.  The idiots on both sides, like to paint broad strokes and argue over that word.  The truth is, there is a difference from making sure I don't sell lead chips to children and it's a far cry from me having to have to provide for inspections, licenses and fees to be able to sell a tie twisty to a full grown man.  No one wants to talk about regulations that keep people like me out of so many industries it's not even funny.  Regulations that were written by lawyers who's socks cost more than my operating budget in 2008.

Yes lower taxes on entrepreneurs.  Yes lower taxes on the wealthy and middle class.  Yes to all of that, but for real change, get rid of prohibitive regulation.



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