How to Get More Blacks to Invest and Out of Consumer Debt

Kamau Austin, Publisher Kamau's Qu!ps

Recently I fielded a question that comes up often on social media debates on how to get Blacks to Invest More and Out of Consumer Debt. Another way to ask this question is how to get more Blacks to think like owners and producers and less like workers and consumers.

Usually in these conversations people start to go off on what I call social and emotional tangents. They start complaining about the lack of Black unity, community support of Black businesses, the high percentage of Black males in prison or single parent households, high crime, Obama isn't doing anything for Black people, lack of investment savvy and discipline, etc.

While this social commentary is useful and has it's merits in my opinion it is really a sidebar to the business issues at hand.  With over 35 years experience in business working for Fortune 1000 companies, Black businesses, and small nonblack businesses I have a bit different perspective.

In my experience all communities have their issues with under and unemployment, crime, distrust, and other social challenges. I could give you some outrageous stories from behind the scenes with Italian, Jewish, and other ethnic groups I've worked with as well. We all have our "ish."  However, I think the investment issues in our community hinges on visionary business solutions.

In regards to investing, I think Blacks who are functional and viable should lead by example. I feel more Blacks would move from the consumer mentality to the owner mentality if they had something they wanted to invest in.

Right now financial planners and advisers are asking Blacks to invest in Blue chip stocks and bonds etc. However many Blacks don't feel compelled to invest in a corporate America where they are presently last hired and the first fired. However, I'm a bit of a contrarian in this regard.

I think we could get more people to stop being consumers and getting into debt if we could develop independent investment platforms like our own stock exchanges, crowd funding sites, film and entertainment finance companies, and national microfinance organizations to help develop and fund Black businesses.

But we have to realize everybody won't be on board at first and it will be a hard sell. But if we can start on a smaller scale and show the larger Black community that discipline, hard work, business savvy, and investing in our own businesses is viable and achievable then we can get larger numbers of Blacks to do it. Even if conservative Blacks invested in "blue chip" stocks they could also consider investing apart of their porfolios in promising black business endeavors.

I will be writing and speaking more on this issue in the near future. So stay tuned.

About the Publisher of Kamau's Qu!ps

Kamau's Qu!ps is Published by Kamau Austin. Kamau is a popular Blogger, Writer, and Internet Marketing Professional helping small businesses grow more profitable businesses online. If you need web design, blogging, search engine or social media promotion contact him at Search Engine Plan

Kamau's Qu!ps reaches over 30,000 web users a month through it's Blog and Social Media Promotions. For Advertising Opportunities visit Search Engine Plan.com