Send correspondence to Dr. John Cashin, Jr., Post Office Box 975,
Huntsville, AL 35814-; or call (205) 721-9 7 ; FAX # (205) 722-8588.
y Dr. John Chin, Jr.
wo
tionaJ Black
, I
, 1 HA L Y received itiv po rom Lincoln Univer
ity in Pcnrsylvarua, Hampton University In Virgirua, Spelman Colle in
, Georgia, Rust College in Holly Spnn ., F k Univ ity in N hville
T , and Stillman College in Tuscal Alabama.
All of our BI k coll and univ rsiti need help nght now, and I cannot
think of anything mor apro than e uragin our nan I Black organi­
zations to pend their convention dolla in th humble urroundin .which
gave rise to the BI k middle cI in the first place.
If w onl y begin to patronize our own institutiors, it will n become the
"IN" thing to do and they won't rem in habby and "in onvenient" much
longcr! Perhaps even by the year wc will have rediscovered ourselv
a people: an extended family that I( out fori n children' education
and welfar . There can a resurrect n 0 pirit from ttus strategy that will
indeed deliv r us to our long ou ht "Prom! cd Land."
Sincewc havcn'tcom upwithanythm altrui nc or cxcinng in King'
death, isn't it time to try something new. We 'can really overcome with this
trategy! Let' Get It On!!!
hall
it is
. Timothy Bates' new book asserts that one key to revitali�ing urban
economies lies in government support of Black business
y IIi on J. ing
"If b in ucc i a hi vcd
on a wid r cal in urn n minori ty
ommuniti ," Bat explains, "tIl
pro economic growth will
t nd to r verse the resource drain
that e rbat gh tto poverty. Prof­
itable operations will create addi­
tional capital and attract
reinve tm nt: the ownership of local
busin s by local residents will
str ngthen flows of income within
the ghetto; and the mo t capable
bus in people will b more willin
to remain in the minority commu­
nity, wh re their own enterpris can
create yet further income and jobs."
Race i a factor because, he
writes, "White owners employ a pre-­
dominately - and often entirely -
white work force, even when their
busines es are located in inner-city
minority communities. By cont t,
Blac -owned firms in the am com­
muniti utili I bor for m d
up overwhelmingly of minori ty
wor e ."
H found that in urban minori ty
communiti .2 percent of t
Bl ck-own lIIDS - but only
p rcent of whit -own d firm -
have a wor -force that i more than
O-percent minority.
While Bat advoca federal aid
to mioority entrepreneurs as well
carefully modeled enterpri e zon
program , h i critical of uch pra
tic they have b n carried out in
t p t. Too oft n, h ay, minori ty
busin loans have beenissued in­
discriminat ly, and enterprise zon
have failed to affect ownership or
employment among local r idents.
"Job creation," Bates writes, "how­
ever important, i not sy�onymous
wi ll:l economic development."
pro ch will inst d follow B t '
recommend tion - th t nt rpris
zo be pplied part of awol
community program that includ in­
centives for local hiring. inv tm nt
in th area' phy ical infrastructu ,
aIX1 careful monitoring of bank prac­
tic .
new approach to timulating
minority busin d velopment are
sought by the Clinton admini tration,
the findings and recommendations in
Banking on Black Enterprise should
be prominent among th policy con­
siderations.
As Joint Cent r P ident Eddie
Williams states in the book' fore­
word: "Timothy Bat ' thorough
analysi makes cleartbat while exist­
ing policies on minori ty busines as­
sistance have often been badly
mi handled, the potential returns
from a fresh public investment in
minori ty entrepreneurship are con-
, siderable."
cents.
The Political Outlook
Bat argu that om of this dis­
crimination can b stopped by
t u h r federal and tate banking
rcgulati n. Inter tingly, President
Clint n' prop ed economic plan
contains clement that are consistent
wi th Bates' recommendations.
Clinton would provide special tax
br for mall busin s invest­
ments, which in tum could lead more
min rity entrepreneurs to start up
new compani .
Clinton would also establish a
capital gains tax cut on tnvestments
made in mall busin es, as well as
encourage community development
banks and tax incentives to cuI tivate
enterpri e zone .
THE TYP 0 busin tar-
geted for as istance i important; ac­
cording to Bat . For years, mo t
Black busin have been concen­
trated in small- cale retailing and
personal ervices, which still offer
low-wage jobs and ben fits, ge rate
caree revenue, and show little
growth. But Bates also reports on a
promising new class of Black enter­
prises - including firm in transpor­
tation, high-tech busin s servic ,
irsurance, and general construction.
These firms, headed by well-edu­
cated and savvy businesspersons,
can sell to non-minority clients, ob- # B T BELlEV THE enter­
tain government contracts for larger prise zone' promoted by the Reagan
projects, and expand their workforce and Bush administrations offered lit­
considerably. tie ben fi L Perhaps Clinton' a�
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