Black Capital - true socio-economic transformation and growth drivers

According to Investopedia: Capital refers to financial assets or the financial value of assets, such as funds held in deposit accounts, as well as the tangible machinery and production equipment used in environments such as factories and other manufacturing facilities. Additionally, capital includes facilities, such as the buildings used for the production and storage of the manufactured goods. Materials used and consumed as part of the manufacturing process do not qualify.

The total number of public sector employments increased from 2.16 million in 2008 to 2.69 million at the end of 2014. - The argument can be made that today, in 2017, this number should be about 3 million.

It is reported that black people make up 77% of public sector employment compared with 66% the private sector.

Education

It is essential to go out and get educated, this can be the form of structured learning that the youth is looking for free funding for or it can be in the form of practical learning as an apprentice.

What ever the means - go for it. Gaining knowledge for knowledge’s sake is essential to weather any storm that life throws and gives one the ability to identify the vast amounts of opportunities all around us.

In his book, The Jewish Phenomenon, Steven Silbiger has the title of the the first chapter as: “Understand that real wealth is portable - it’s knowledge.

“an insatiably curious approach to life and an unrelenting quest for continuous learning.” (Gelb, 1998)

Entrepreneurship

Entrepreneurship is not for everyone - success takes long and once you get it, you work hard not to lose it.

It's not glamorous, it has strange hours and really has its toll on friendships, relationships and family life. I always cringe when someone sees me somewhere and tells me “it must be nice being your own boss” - I smile and try to change the subject. Because at the end of it, you are not your boss. You have so many bosses, every client. You have business partners who you account to. You have your staff who rely on you to ensure the lights are on daily and you have your own desires and aspirations.

Entrepreneurs are however required - these souls take the risk to change things for the better. Identifying an opportunity in the landscape and providing the solution to that opportunity. This can be in the form of a business service or a product to be produced. The opportunity could be in the political landscape and give rise to a new political party. It can be the form of an NGO or charity to improve the human condition on this planet.

What ever the means, landscape or solution, the traits of the humans are quite similar. More of these people are required and need to be encouraged in trying and not always succeeding but keep on trying.

At the heart of being an entrepreneurial trait is the ability to have a strong sense of delayed gratification.

Consumption

Consumption determines all business. It determines all operations, if enough people use your service or buy your product, it becomes a financial success. 

This then means that black people have in their hands the ability to pull themselves by the bootstraps and become an economic powerhouse. Through consumption of products and services supplied by black businesses and entrepreneurs.

I have seen quite a number of initiatives aimed at increasing black-2-black sales. If black people supported black businesses, a growing trend of black capital would emerge.

Much like the Jewish people, Indian people and more closely - Afrikaner people, if Black people could exchange money between the group a few more number of times, we would progress as a people and create such needed jobs in areas not catered to by white business.

In the time of our Ancestors 

Listening to stories of of life during the time of our ancestors, their daily grind, I imagine a people happy and content, suffering from occasionally disease and loss in loved ones - largely children. But in it all, a communal society where an upstart can be given a cow and borrowed a bull to start off in life.

This was at a time where cattle heard size was indicative of your financial prowess or wealth. This was therefore capital investment and support of another would be “entrepreneur”.

This model can be regarded as an earlier version of what we understand as venture capital today. 

We have a rich history of enterprise and growing businesses under sever limitations and opposes dive regimes. This is a spirit that needs to be tapped into as we go forward to grow and develop within an inclusive community made up of a rainbow of cultures and racial make-up. 

Co-operation

Black Economic Empowerment is its fundamental nature, is based on a notion and spirit of cooperation. Cooperation with those who have access to financial capital and experience in given field - be it black or white.

Cooperation is a key determinant of success in business. Cooperation between black producers and buyers would yield unimaginable success enjoyed so widely by other cultures across the world.