Recently, I’ve listened to, watched and read numerous sources talking about the creation of a black economy or strengthening the currency within the black community. Illustrating the aim of creating power with our money, on the whole I agree with this much needed concept.
Though, my socially concious way has not allowed me to say this is the case to solve our money, community togetherness and the cleanliness of our neighbourhoods. A plan for community development is required, which connects business to social and community projects, which can then create a sense of pride, rather than the view I have concluded business will solve everything.
Considering the business aspect of this plan, the question can be asked whether or not, these businesses can create jobs, especially in the UK. Can the businesses which are involved in the plan, provide employment to the skills, which exist in the community. The deciding factor will be to ask if the community requires the product, which the business is providing.
The factor, which should also be considered when developing a black economy (business dominated or otherwise) is the creation of a partnership or cooperative working initiative between the businesses and the community groups, in respects to housing, youth, education and health as these are key to determining the cohesion of a community.
Businesses will and would be tested as to whether they would use tax breaks or sponsorship to support the running of non profit black organisations locally or if they would want the local government to continue funding this.
There are many skilled people who have come from black dominated areas and have left. Encouraging the highly skilled and trained professionals to stay in the area is important. This will provide the opportunity for them to use (social and financial) resources to build up schools, invest in businesses and get more involved in community initiatives.
People in communities (especially black ones) need to consider housing and environmental issues. A business dominated economy would need to look at investing in homes or at least being part of the discussions. The business will say it’s the governments or the individual’s responsibility but if we are creating an economy, we must ensure the participants are at least accommodated.
Talk of creating a bank is great but could still put our own people in a position with no access to money, a in the form of a bank account loans or savings. The business led economy, may not consider a cooperative, which is important to the plan to formalise credit unions for those who cannot access commercial black banks. This can increase home, property and business ownership, developing a stronger currency with in our communities.
Finally, businesses may argue community and not for profit services can get government funding and this is true, but if we can fund it ourselves too, we will be able to develop further as a whole.
I’m for the black economy, but we need to consider how we can make it work and how it can improve all aspects of the communities existence.