THE CITIZEN JULY 27 - AUGUST 2, 1986
11
o es new trend in Black
business development
B LTI ORE In an
ddre before the CP,
Raymond J. Prtichard, chair­
man and chief executive officer
of the Brown & illiamson
Tob ceo Co., noted a new,
positive trend toward Blac
busine development.
Pritchard noted that many
ucce sful Blac man ers are
leaving c rpor ti n to initiate
their own businesses, and that
the shift of minority profes-
i nal to self-ernpl yment may
. al the start of a positive
trend t ward more minority
jo .
Fred
aid,
empl yee th
are
empl yer. In
f
order to help foster the gro th
of Blac -owned busine , entre­
I
preneurs will need to develop
new busine s in the areas of
. manufacturing, dealerships, dis-
tributorships and franchise
opportunities" Rasheed said.
Pritchard pointed out that
business goals cannot be reached
without the fundamental build­
ing and trengthening of mar­
kets.
'F r any company, the cycle
of succe be ins and ends ith
th se who demand its pro­
duct ' he said. It does m e
d busine en for c rp r-
ati n t upp rt mmumtie
hi h in turn upp rt busine
growth. ith ut. such gr th,
there would be no wealth to
share.
o EY TALKS
Communi Y. developmen
idea
By Jame athan
Recently, I received a letter
from a young minister in the
Miami Florida area who suggest­
ed that I write a column on
how a small, Black community
could help lift it If out of
poverty.
Well my first thought was
automatic: Some mechanism
mu t be devi d to enable
residents of a small Black town
or of a community within a
large city to po I their re urces
in a manner that would benefit
the individual a well a the
group.
Durin p ri d of Rea-
gan mic vernment utba
and Ie c n ern' for the p or
and workin cla s group effort
was about the only option left
available for th wishing to
send it to '�sk MESC," 7310
Woodward, Room 505, Detroit,
MI48202. Unfortunately, it is
t possible to answer or ack­
nowledge each letter. We do,
however, read them all and
print those of most general
interest.
improve their economic stand­
ing.
So here goes an idea worth
considering.
Did you kno that almost
any professional fraternal, re­
ligious or trade as ociation can
form its own bank - or more
appropriately credit union.
Basically peaking you an st rt
the process as long as you have
at least 300 member .
In additi n, a redit uni n
can be tarted on a ommunity
ba j if there are at lea t 1 000
in the ommunity.
The third a i a ituati n
hich at lea t ... 00 pe pIe
r the am pla e.
redit uni n are thrift in­
titutions that once harte red
fun ti n pretty mu h like a
bank or aving and loan in-
titution. em ers f the
community club r religiou
organization w uld dep it
money into their redit union.
The credit union in turn, ould
be empowered to make 1 an ,
finance community or group
development etc.
nlike ban s and savin
and loan institutions, however
the members of the as ciat­
ion, religious group or club
ould actually own the credit
union.
Hobby leads to ·care.er
ew York i " place where
1 could find out if 1 had what
it took to be competitive,"
according to professional photo­
grapher Ahm Sandidge.
Sandidge, 35, ys the photo­
graphy bug first bit him after
taking an introductory course
t orth C rolina T State
University.
"I took candid pictures on
campus, developed the fllm;
found the students later and
sold them the pictures 1 took,"
he says. He continued to take
to
of 0 of your quarterly fa
report . Cbec your record
to confirm that you bmitted
t report. If you did bmit
the report, nd copy of the
report to ESC' Employer
te Unit ong ith photo-
copy of both of your
celled che .
S oold you need more time
to prep your prote , you
are titled to a 30-ca1endar
day exte . n in hich to
apply for a redetennination.
Your reque for exten . 0
mu be m in writing ithin
t 0 JO.caIendar day
period.
Once ESC· es contribut­
ion rate ually for aU coo­
tribu· employen in the st teo
Your 0' otice of Determination
of Contributio Rate"
your tax rate for year
II t (acton used in
determ·· your teo
If you have Q question for
the Michigan Employment Se­
curity Commission- (M�SC),
rate
th
pictures as a hobby.
After college Sandidge re­
turned to his native Pittsburgh
where he spent a few years
conducting training seminars for
major corporations. He con­
tinued to pursue photogr phy
-on weekends, building a clien­
tele and refining his ills
in fashion, product and por­
trait photography.
He moved to ew Yor
in 1982 and enrolled in the
fashion photography program
at the Fashion Institute of
Technology in Manhattan.
From there he went to work at
Bard Martin Photography in
ew Yor . He i n w an as d­
ate in that studio.
Sandidge and his i e Heddie ,
a fashi n de igner, live in 'ew
Jersey with their tw -year-old
son Ahmed.
If Y u are interested in chart­
ering a credit union for your
club church, community, etc.
take the following steps:
1 Begin discussing the
idea with at least six people
who are prepared to commit
themselve to wor ing to estab­
lish the credit union.
2 rite the ational Credit
nion dmini tration for free
information on ho to est blish·
a redit uni n. There are ix
regi nal dmini tration. If you
can n 1 find inform ti n for
the ffi e handlin your area
ington, D. That
tional redit ni
i tration 1776 G
uite 700
_000 .
Ther are approximately
.. 5 000 credit unions alre dy
operating in the nited State .
o t are federally chartered.
tablishing uch a credit
uni n may be just what a
mmunity or a group needs
in order to better pool its
financial resource. My recorn­
mendati n i that small busi­
ne owners and religous leaders
in the community or group
t e the lead in establishing
a credit union. Small business
owners bring experience and
religiou leaders inspire con­
fidence and trust.
For further information on
ho best to organize a group
or a sociation that may be
eligible to establish a credit
union send for a booklet en­
titled Organizing A Wealth
Building Club, from Potomac
Associates 1377 K Street, ,
Suite 9 Wshington, DC, 20005.
Include 3.00 to cover handling
and po rage.
HOW TO GET THE
o EYYOU NEED
The Financial Security
Guide is a 99-page fact­
filled booklet detailing
dozens of way to in�rease
your current income.
Make $16.95 check or
money order payable to
Law- Tay Communications,
P.O. Box 54041, Washing­
torr, O� �eo'32".
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