BUSINESS FINANCE
comm
dom e.
Itch out for e: ving
only 0 f mily member Involved
in n nei m ne . ven tbough
o po m ybe po lble for
decl ion in , both p rtne
bould be Involved in meetin
fth ccount nla, ba ers, in
surance age ,toe bro era and
la era.
Another common error' f U
In to put your goal down on
paper. When it com to financial
go I ,it' tmportant that you pI ce
a doll r mount and a time frame
n e ch objective. For example, if
you pl n to buy a ho e, you need
to kno when you plan to buy and
bo much of a down payment you
will need. Also, once you have
financial goals on paper you must
weigh their relative importance.
PLAN ING
P ide
� matter of f ct, no d
time to co ult ith your ta
prep rer concern! your 1992
CI.
o that you have completed
your 1991 tax return, co ult th
your accountant to develop ays
to reduce your bill for 1992. It
might me n convertin your
bobby to • b in In order to take
dvantage of b deductio
or contributing to the company'
profit baring plan.
It hard to become financially
secure without a too ledge 0 the
tax la
KNOW YOUR BENEFITS
Not understanding your
employee benefi i one money
management error you don't ant
INVES ENTS
When it comes to managing
their money a common mi take
people make i not diversifying
Charles Ros is the host of the
1IQtioMlly syndicated radio pro
gram "Your Perso1UJl F�."
and tJIlthor 01 the The But of Your
PersoMl Fituuace.
HE IS AN Ulban leader woo
kmws Amerlca' fiee.emerpriae
poa:MulblBsmwn1beway
B ., aauaIly beco� in
\dwd in It • bmof
ulliYq. He am b Nation
ofY�h aS100million
pordblloofteal man
ICMce ao1 tqjIir firms am em- .
.MN�l�ma���_
and coIIedtYe, CO)!. mica.
(8 wm vi.uUzed ami
ple � way <t"b\iJdUwftrwban
America, self-proclaimed "ar
dJiect«1be \Iliveme, "pmal1S 1bc
best Ide tmdel fur�
uI Black American change sUre
tIeae visl<D ftr \8 came 1ian
Marcus Garvey and Elijah
Mm8limw1.
The agerd for change that
Bush, and Blacks living in
AIIa'a, smuld seek is o� of
vInnt \atan IocaEd cenIeJS with
commercial strips, shopping
cenfIe1I, iIWmial pub, grocery
stores, restaurants and other
emapiks wIae BIaciI buyfian
adl oGIer 1111 fI) pm:aJt «tim
DDir.a dItWde imcmaIly aomg
tan.
WOO am teach O\r yooIh mw
k) aeale-jobs, ml mt just look fbr
tan? � pOYalaglD � 1bat
type of c::t.,. is Yabwdl Ben
Yahweh. The IIII)U' of Miami
rccogoizM 1m cbqp that Yah
wdl WIOOIbt inbis city. So did 1be
� 1bIt foomcd by Boola
T. W� � NationalB\Bi�
The Miami Urban League
joined Mayer Suan2 aM NBL
President, and top Black
Reptiiam. ArtIu'reek; in tmr
Idiom of pttsal1lug � to
Yahweh Ben Yahweh for his
leademlip mI sOOwing � way to
1df�m1self-re�.
IF PR!SIDilU BUSH wor
lira bt Yabwdl j\8t am1m'
Black ftgme � fur a frdcal
handout to make his urban
progIaaB WOIk, be need ootworry.
AD 1beVtUb 1tJlt�didtn txiqpng
hlmdreckofB1adcsfrompoYtrtyto
rida were done witmut any
goyanmcnt sutmdy. Yahweh led
the way of urban renaissance
through collective capitalism
arrxq tis community membeIs.
Althe�m, � "81ditedof
urban �rlca" Ianguis1a in a
tideml pmon. Many pcq>1e say
bit the JeaQl Yahweh is behiOO
ball Is becue «his suaas in
urbIn�. Be1hetMitmay
weB be, Bum lnlId take a page
from PIesident Gerald R>rd's book
onpi� pardoos todfect his
agadl fix chqe.
Bmh ml Atto�y General
WIlliam BarrsOOuld koow that the
wub of Y�h Ben Yahweh
baYe � chronided all across
Black America. Black
Republicam worth anything to
REED, A10
•
arac
o
r
Thirty percent of America's sur
veyed businesse are owned by
women, says a Census Bureau
report released today by the Com
merce Department.
The report also shows that
Blacks; Hispanics; and Asian
Americans, American Indians, and
other minorities each own about 3
. percent of the nation's surveyed
businesses, while white men own
approximately 64 percent. .
Valerie Strang, author of the
report, says, "Understanding the
characteristics of this country's
business owners--such as their age,
education, and general work ex
perience-ds important to policy
makers when they're trying to
establish programs to encourage
economic development. �
. "For instance, knowing that the
majority of business owners started
their busine se with little or. no
money or assets is important when
communities are trying to decide
how to allocate their economic
development funds."
Highlights of the report, based
on a survey during the 1987
economic censuses, include:
- Nearly 51 percent of the
nation's busines owners are be
tween 35 and 54 years old. I
- Over 74 percent of owners
are married. White male business
owners were most likely to be mar
ried (SO percent) followed by
Asians, American Indians, and
other minorities (77 percent);
Hispanic owners (76 percent);
women owners of all races (70 per
cent); and Black owners (69 per
cent) ..
Blab scbool was the blgbest
level of education completed for
about 24 percent of owners; and
another 19 percent have ome col
lege, but did not graduate. This
varies by gender and racial group.
For instance, a high school
diploma is the highest degree at
tained by nearly 30 percent of
women owners, but this is the
highest degree attained for only
about 16 percent of Asian,
American Indian, and other
minority owners. .
The hlghe t concentration of
bachelor's degree wa among
Asian, American Indian, and other
minority ownera (27 percent);
Hispanic owners have the lowest
percentage of bachelor's degrees
(11 percent). .
, Forty-tbree percent of omen
owners are not the head winners in
their familie . They are less than 10
percent of their household income
from their business, compared with
40 percent of Black owners, 32 per
cent of Hispanic owners, 31 percent
of Asian, AmerIcan Indian, and
other minority owners, and 31 per
cent of white-male owners .
ic
r
·0
- Hispanic owners (11 per
cent) and while-male owners (ll
percent) were most likely to earn
100 percent of their household in
come from their business, com
pared with 18 percent for Asian,
American Indian, and other
minority owners, 14 percent for
Black owners, and 12 percent for
women owners.
Flfty-ftve percent of
women-Gwned businesse operate
from a private residence compared
with 50 percent of white male
owned business, 49 percent of
Black-owned businesses, 45 per
cent of Hispanic-owned businesses,
and 39 percent of Asian, American
Indian, and other minority-owned
businesses.
Minority ftrms blre
minority employees: 54 percent
of minority-owned firms with
employees said more than half of
their workforce were minorities; 47
percent claimed as higrras 75 to 100
percent minority employees.
- Boslnes owned by women
and white men are spread aero all
states in about the same proportion
as the population. However, more
than half of all minority-owned
businesses are located in California,
Texas, New York, and Florida.
Flfty.ftve percent of
women-owned firms and 46 percent
of minority-owned business,
health, and legal services.
Businesses included in this sur
vey include individual proprietor
ship, partnerships, and subchapter S
corporations. A subchapter S cor
poration is a special IRS de igna
tion for legally incorporated
businesses with 35 or fewer
shareholders who, because of tax
advantages, elect to be taxed as in
dividual shareholders rather than as
corporations.
The report also provides infor- ,
mation on business owners' veteran
status, U.S. birth, work experience,
method of acquiring busine ,
hours worked, tarting capital, and
source of borrowed and equity
capital.
Copies 01 the report 1987 Char ..
acteristics 01 Business Owners, No.
. CB087-1, are available for $12.00
each prepaid from the Superinten
dent 01 Documents, U.S. Govern- .
men! Printing Office, Washington; c
D.C. 20402 (202-783-3238). The
GPO stock number is 003-024-
08158-0.
ADVERTISE
YOUR
BUSINESS
in c
r
o
Business Owners By Age: 1987
•••••••• 60.8.
BlaCk-Owned
Businesses
Other Hi nori ty
Owned Businesses··
Women-Owned
, Bus 1 nes ses
White Male
Owned Businesses
o
10
20 30 . 40
Percent of Owners
SOURCE: U.S, Bureau of the Census
NOTE: lota 1 under' 1001 because of non-response.
* Hispanics may be of any race.
UOther Minority includes Asian Americ ns , Pacific Islanders,
American Indians, an.1 Alaska Natives.
50
60
70
r: � :1 Under 35
35-54
(.. .'
55 &. Over
- --
Need Information about Businesses?
Call the Business INFOLINE!
A Ser.1oe of Amef10In
BuII,..lnfonnIIdcn
8711 SO. 88tI Qrde,
Om NE ee1'Z7
Dial 1-900-896-0000
Ask for Ext. # 214
There are over 9 million businesses in the U.S. - and finding
information about them can be virtually ImpoSSible, especially
when you need It fast. But now there's a way ... a revolutionary new
servtce called Bua/nesa INEQUNEI Need to know the addre and
phone number for .XYZ Company· somewhere In Florida, or the
name and phone number of a ·Cadillac Deal .... in Palm Beach?
Even lephone company directory .ltance can't h p you In
these Ituatlons ... but we cant .
For.Dmp,. ...
·Your BMW breaktl down on thelnter6tate, and you need to know
" the,.'s a deal", In th next town. •
-An out-of-town comptJlly Is trying to ,eI, you vlnyl.ldlng for your
hou , and you need more Information about th«n ...:.. how long
th company has been In bu.'n ss, tJIId how many emplo�
they have. -. •
-You're pltJllnlng a vacation In th Pacific No"/nw�.� and you
WtJIIt to line up things for the kids to do. So you need to ffnd the
amUHm.nt parks and zoos In Oregon and Wahlngton. •
-A friend gav. you. tip that -Apex Indu.trl • would".. (/Ood
.tock Inve.tment but you want to know more. What do they do?
What are their approximate annual sa/es?-
The Busine INFOUNE i indispensable for home or officel And
the cost Is only $3.00 for the first minute and $1.60 for each
dditional minute, conveniently billed to your phone number. The
Mce Is available Monday through Friday, 7:00 a.m. to 6:00 p.m.,
Central Time.