Two huge things have happened for the African American population since Donald Trump became president after beating Hillary Clinton in the 2016 election. It’s fun to rub that in a little bit as many are thankful she’s not the one in charge of the White House because that would mean Bill Clinton would be the “First Man” and we know his history with interns. That’s neither here nor there. The two huge things that have happened, which primarily have affected the African American community, is that black unemployment hit a record low back in May, but now there’s another achievement that’s tied into this one. Black small business ownership has bumped up 400%, but it based on a voluntary survey taken by small business owners, since Trump took office, according to reports.
The survey taken to measure this increase was done on the small scale, which makes it hard to represent the entire country. It’s good to acknowledge the positive growth of small business ownership, even if it’s on a small scale. It would require a much more in-depth survey taken by a much larger audience to provide a more detailed analysis in order for us to measure the amount of small business ownership growth throughout the entire country. It’s important to note that small-scale studies do NOT represent the entire basis of our country, but simply show positive growth where it may have once been stagnant. We too would like to see a more in-depth survey that reaches a much bigger audience. We can’t agree that black small business ownership has skyrocketed across the nation like many bloggers are suggesting, but we can say that the surveys showing the small-scale growth have trended up. I like the growth, but I also want to see more in-depth studies to show what the true stats say for the entire country.
Black unemployment is also improving and CNN covered an article on that. They provided a bit more information than the survey on the alleged 400% increase in small business ownership among African Americans.
An article on CNN had to mention how it was a strong achievement. “Black unemployment dropped sharply last month, down from 6.6% in April. The gap between black and white unemployment shrank to 2.4 percentage points, the first time on record it’s been less than 3 points.
The figures were part of a jobs report Friday that showed overall unemployment at 3.8%. That was a clear sign that the economy is strong — and that there are opportunities for just about everyone.
Black unemployment has fallen faster than white unemployment in the past year. A year ago, the black unemployment rate was 7.6%. For white Americans, unemployment has dropped from 3.7% a year ago to 3.5% in May.
“There is nothing not to like about this jobs report. It was strong across the board,” said Hank Smith, co-chief investment officer at Haverford Trust.”
When CNN is quoting that there is nothing to not like, then that must be the real news they’re talking about – news that’s backed by statistics and data, not feelings.
That was back in May. Now we’re getting even more statistics piling in that show the increase in black-owned small businesses. If there’s one thing that must feel amazing, it’s the fact that people can own and run their own businesses and thrive in this great country.
It’s so good right now that Trump’s approval rating has almost doubled since this time last year, according to this Tweet by Rasmussen Reports:
Today’s @realDonaldTrump approval ratings among black voters: 36%
— Rasmussen Reports (@Rasmussen_Poll) August 15, 2018
Surely it could be even higher, but it’s trending in the right direction. Going up almost double is an amazing feat in just one year.
Add that information with this statistical analysis on the black-owned small businesses, provided by Zero Hedge, and it’s easy to see that our economy is going in a good, strong, and successful direction. The numbers don’t lie.
“The number of small businesses owned by African Americans in the United States has exploded by 400% year-over-year, according to a survey of more than 2,600 small business owners and entrepreneurs by Guidant Financial.
The survey reveals that in 2018, 45% of small business owners were minorities – up from just 15% three years ago, with the majority of them belonging to African American owners.
Following African Americans, Hispanics were the next largest group of minority small business owners representing 14% of the business owners interviewed for the survey. Meanwhile, Asians made up 8% of the business owners surveyed while Native Americans made up 4%. -Small Business Trends
Looking more closely at the data, we find that the majority of black business owners are between 40-49 years of age, while the #1 state for the demographic is Texas, followed by Georgia, California, Florida and North Carolina.
Meanwhile, 46% of black-owned businesses have just one employee, while 41% employ 2-5 people. Industries information is a bit sparse, with 13% providing “business services,” 9% providing health/beauty/fitness as well as food or restaurant, 7% general retail and 28% “other.”
In terms of motivation, most respondents said they were “ready to pursue my passion,” followed by “ready to be my own boss” and “opportunity presented itself.”
Opportunity presents itself when the country is feeling good about itself. Despite the negativity from the Democratic Party and leftist media outlets, the good vibes are there for Americans. People feel good. People see the stats. People want to work harder AND smarter.
When people say opportunity presents itself and we have this many more small business owners, then that means the economy is doing well and will do even better.
What are you working on today?
How do you feel about the economy?
Tell us your honest answers in the comments!