06/15/2020
Part III: Attn: Apostle, Bishops, Prophets, Prophetess, Evangelist, Pastors, Church Members, Laity, Body of Christ, Etc......please view video below:
Black Lives Matter (It's Equal Economics Stupid!)
Jas_5:4 Behold, the hire of the labourers who have reaped down your fields, which is of you kept back by fraud, crieth: and the cries of them which have reaped are entered into the ears of the Lord of sabaoth.
Ecc_3:13 And also that every man should eat and drink, and enjoy the good of all his labor, it is the gift of God.
Ecc_5:19 Every man also to whom God hath given riches and wealth, and hath given him power to eat thereof, and to take his portion, and to rejoice in his labor; this is the gift of God.
There's only two ways to create wealth throughout all civilization!
1. From your labor that you control which is a gift from God.
2. or someones else labor that you benefit from.
God has given every human gifts through there labor to create wealth for them....everyone of has riches and wealth for that matter. Its how we value the asset we where given.
Pro_18:16 A man's gift maketh room for him, and bringeth him before great men. (this is not just talking about Spiritual gift only Church leaders & folks)
Do you know you gift? do you understand your worth? Who said you were worth $7, $10, $12, etc an hour?
Pro_23:7 For as he thinketh in his heart, so is he:
Black Business in our communities?
At a time of rising wealth inequality by race, this
report is part of a larger project to understand how
assets are valued (and undervalued) in America’s
Black neighborhoods. Yelp, an online repository
of customer reviews, provides a meaningful and
validated measure of quality, so we matched
Yelp data at the establishment level to financial
performance data from the National Establishment
Time-Series (NETS) Database.
In well-functioning local markets for housing and
customer services, higher quality should lead to
higher consumer demand, which manifests itself as
either higher home appreciation or business revenue
growth. On the other hand, if racial segregation and
discrimination distort markets, the effects of quality
on revenue will vary by the racial composition of the
market. This is what we set out to test.
THE IMPORTANCE OF BUSINESS
LOCATION, RACIAL COMPOSITION,
AND QUALITY ON REVENUE
Empirical research on small business outcomes
finds that location matters. In the United States,
residential segregation patterns by race have
created very different neighborhood conditions for
businesses to work within. Recently, economists
at JPMorgan Chase analyzed business finance
data in 25 large metropolitan areas and found
that businesses in Black and Latino or Hispanic
neighborhoods exhibited substantially lower profit
margins In Black-majority neighborhoods, only 30%
of businesses had profit margins at or above 15%,
compared to 70% of businesses in white-majority
neighborhoods. That study did not consider the
quality of business services as a mediating factor, as
we do here.
Black people represent 12.7% of the U.S.
population but only 4.3% of the nation’s 22.2
million business owners. This gap represents
major untapped entrepreneurial potential across
U.S. cities. Only 1% of Black business owners
obtain loans in their founding year, compared to
7% of white business owners.
Several pieces of evidence suggest that the lack of
business ownership among Black people does not
result from lack of talent at running businesses.
Gallup psychologists developed an assessment
(Builder Profile 10) to measure the enduring
characteristics that predict success as an
entrepreneur.
One’s degree of confidence, appetite
for risk, creativity, determination, and other factors
determine how people score. This index is highly
predictive of whether someone is a business owner,
how well their business performs as measured by
outcomes such as revenue growth, and whether
or not the owner meets revenue and profit goals.
There are no statistically significant differences in
performance on the Builder Profile 10 between non-
Latino or Hispanic whites and Latino or Hispanic and
Black people.
The underrepresentation of Black business owners
can be attributed in large part to Black people having
less of their own money to invest in firms and less
collateral to put toward a loan due to job, housing,
and financing discrimination. Our examination
of housing prices showed that, in 2017, homes
in Black neighborhoods were priced 23% lower
than equivalent homes in white neighborhoods,
amounting to $156 billion in accumulative lost
equity in Black neighborhoods throughout the
United States. Black-owned businesses start
with approximately a third less capital than their
white peers and have difficulties raising private
investments from mainstream investment systems.
Highly rated businesses in Black-majority
neighborhoods experience lower revenue growth
than businesses with similar quality ratings
outside of Black neighborhoods.
In non-Black-majority neighborhoods, businesses
with high Yelp ratings grew, on average, between
8.5% and 9% between 2016 and 2019, and poorly
rated businesses grew significantly less (between
5% and 7.5%). Yet, in Black-majority neighborhoods,
7% growth was the norm for both highly rated
and poorly rated businesses, which is lower even
than the growth of poorly rated businesses in
neighborhoods that are less than 1% Black.
We consider that these patterns might be a function
of business characteristics such as legal structure,
age of business, or sector. Yet, when we control for
these characteristics, we continue to find a negative
and statistically significant interaction effect
between the Black share of population and the Yelp
rating.
In other words, we do not find that revenue
growth is uniformly lower in Black neighborhoods,
but rather that location in Black-majority
neighborhoods eliminates the benefit of being a
highly rated establishment. This effect persists after
controlling for other neighborhood characteristics
such as the level of education of residents, total
income in the ZIP code, average commute times to
work, and the age of the housing stock.
This pattern poses a problem for consumers living
in Black-majority neighborhoods because—unlike in
other areas—business quality has no relationship to
performance, so poorly rated businesses are able
to compete with highly rated ones. It is a problem
for the owners, too, because providing high-quality
customer service and products does not result in
financial rewards in Black neighborhoods to the
same extent as in other neighborhoods.
(Data provided by Yelp & Brooking Institute Study 2017-2019)
Rom_12:2 And be not conformed to this world: but be ye transformed by the renewing of your mind, that ye may prove what is that good, and acceptable, and perfect, will of God.
We need to support equally all business especially our OWN!
The equality we seek is understanding how to control our OWN labor and getting fair value for that Labor! Example: China, India, Taiwan, Japan, etc.....except Africa!
My next post will deal with more meaning in the laws biblical and secular that support the above data!
I'm just saying!
Shalom!
let it not be once named among you, as becometh saints