Did you know that Black-owned businesses account for a substantial amount of revenue in the USA? According to Black Enterprise (https://www.blackenterprise.com/be100s/top100/) the top 100 African American-owned companies, collectively generated almost $30 billion in revenues and employed more than 71,000 workers in 2018.
Most of these firms were reportedly established in the last few decades, and many are still led by their entrepreneurial founders. Herein lies a very important lesson for all businesses, black or otherwise owned. Much sweat and financial equity is poured into small medium enterprises annually.
Unfortunately, growing evidence suggest a large percentage of them have no succession plan in place. In effect, if the owner gets frustrated and gives up or dies (The Lord forbids), there is no continuity. Important equity is seriously compromised or lost.
What if the governance and operations of these businesses was enabled to give effect to better functionality? What if there was a system by which they could buy into each other and realize wider ownership while simultaneously capitalizing on opportunities for growth and long-term survival? What if?