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The Business of Staying in Business
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Kwan Booth
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Last Updated on February, 04 2009 at 02:07 PM
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| With the economy in a tail spin and businesses everywhere taking a
dive, possibly now more than ever it's a good idea to have a strong
support network behind you. By offering a mix of training, information
and good old fashioned moral support, business groups and merchant's
associations can play a key role in making sure a business sees it's
way through the hard times. |
With the economy in a tail spin and businesses everywhere taking a dive, possibly now more than ever it's a good idea to have a strong support network behind you. By offering a mix of training, information and good old fashioned moral support, business groups and merchant's associations can play a key role in making sure a business sees it's way through the hard times.
Oakland's Black Wall Street Merchant's Association is an example of the kind of help these organizations can provide. Founded in 1998 and comprised of nearly 400 local businesses, the association was modeled after the original Black Wall Street District of Tulsa Oklahoma and has made it a mission to connect the merchants of deep East Oakland while enhancing services in this frequently neglected part of the city. Member businesses range from martial arts schools and churches to tire repair shops and corner stores.
We talked with Michael Carter, Black Wall Street's Chairman of the Board, about their goals and relevance to the community in tough economic times.
OB:How did it Oakland's Black Wall Street get started?
MC: Through partnerships with the Oakland Black Board of Trade & Commerce, City of Oakland's Community Economic Development Agency, ShopOakland.com , the Oakland Merchants Leadership Forum, the Bay Area Black Yellow Pages and the Silicon Valley Black Chamber of Commerce which have fostered numerous opportunities to help reach our District's economic goals.
OB: How many businesses are involved and what's the goal of the organization?
MC: BWSMA s' membership are comprised 369 district local merchants, 1,272 national businesses, 12 national and local organizations, people of all faiths and ethnic backgrounds. Goals include 1000 new jobs by 2011; 300 New African American & Diverse businesses by 2010; $15 Billion Dollar Black Business District by 2015; Create a practical means of bringing its Members in touch with prospective business; Encourage trade expansion for the benefit of its Members; Acquaint its Members with the products and services which they have to offer; Promote a better acquaintance and closer association between Members and provide opportunities to increase profits for each Member; Maintain effective merchant advertising through collective media resources.
OB: What are some of the recent successes of the organization?
MC: The Black Wall Street District has added 142 new businesses according to the City of Oakland Community Economic Development Agency. The district stretches from High Street to the San Leandro border along International Boulevard. And of the new businesses in that 3.73 mile stretch 39 of them are Mexican/Hispanic owned; 33 African American; 24 Asian; 13 Pacific Islander; 10 White; 5 Native American; 18 other. Many have responded to the Black Wall Street District's New Business Project. Some of the new 26 African American owned businesses include: 83rd Chili Dog at 8312 International; Beauty Shop Cuts & Styles at 10633 International; CBS Digital & Analog Equipment at 4553 International; Cedric Styles Barber Shop at 8819 International (formally Jackson's Barber Shop); C-Swagger Signs & Printing 7010 International; A Specialist Barber Shop at 8322 International; Soul Food Factory Restaurant at 7130 International and several more.
Through our partnership with The Alameda County Office of AIDS Administration the Black Wall Street District held a AIDS/HIV Strategy Forum with our merchants in April and Tazima Jenkins, the "Business Response to Aids" Coordinator, spoke at our August "1st Saturday's Business Development Workshop". Both events held at Haywood Kempo Karate School at 4430 International in the Black Wall Street District. The Black Wall Street Merchants Associations' street team distributed over 200,000 merchant coupons in the targeted area with the "Know Your Status" message on the back. In addition, our web team placed banners on our website and sent regular eblast to over 280,000 NorCal/Bay Area Subscribers.
In April 2008 we took apart in the Center for Disease Control's video campaign "Business Response to AIDS" which was launched in several Major American cities including our chapter city Chicago (Black Wall Street District Chicago)
OB: What's the benefit of an organization like this in tough times?
MC: Black Wall Street in Oakland is in fact an existing example of how to use recycling of black wealth to better the community. By supporting local black businesses, black urban neighborhoods can help establish a wealth building system whereby they rebuild themselves internally rather than waiting or relying on external or governmental support.
OB: What are some of your most used services/most popular programs?
MC: Workshops, seminars and forums have been held to increase marketing and business development efforts.
OB: What are some of the biggest events for Black History Month?
MC: "1st Saturday's". The Black Wall Street Merchants Association sponsor monthly Small Business Development Workshops. The free workshops meet every first Saturday of the month. The workshops are designed to exchange business tips to increase sales and attain advertising strength. Professionals are available to assist with business plans, marketing strategies and technical support.
Throughout the rest of February, the association has planned a long list of events for the public and small business owner alike. You can see the entire list at http://www.blackwallstreet.org/
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