The current economic crisis is said to be the worst economy since the 1930s depression. While overall unemployment continues to rise, African Americans are experiencing job losses at nearly twice the national rate, and this is expected to worsen as the condition of the economy declines. However, as more people lose their traditional jobs, more and more business owners are being created. By becoming a business owner and working for yourself, you’re at least gaining some control over your financial future, which is why more people are turning to home-based businesses for security.
African Americans, in general, have always been a very entrepreneurial group. The statistics on the creation of new companies are very encouraging.
- From 1997 to 2002, the number of black-owned businesses increased 45 percent. There are approximately 1.2 million African American-owned businesses employing about 750,000 people with more than $80 billion in revenue.
- New York state has the highest concentration of black-owned businesses, followed by California, Florida, Georgia, and Texas.
- 38 percent of African-American owned businesses are owned by women!
There are still many viable home business options in today’s economy. The explosion in the use of the internet and social media has created an extremely lucrative job market niche for internet marketers and multi-level marketing opportunities. Online shopping and advertising are at an all time high. There doesn’t seem to be a recession on the World Wide Web. This phenomenon makes people flock to the Internet. Some people successfully make a living working online from home. Home business ownership has become more prevalent now than ever.
African-American consumerism is on the rise. Black businesses online are on the rise. Are you in a position to capitalize on this phenomenon?
If you are one of the many African-American entrepreneurs who are interested in taking control of their own financial future and have decided that you want to work from home and start your own business, you may want to consider online marketing. Internet marketing can be an interesting and lucrative way to make a living. Once learned, Internet marketing is a tool that can be used to market virtually any business, idea, or product to the billions of people online.
To become a successful internet marketer, you’ll need to find a legitimate mentoring/tutoring partnership program that offers comprehensive, one-on-one training. Choose a program committed to helping you become the best in your field. Approximately 97 percent of Internet marketers will fail because they don’t have the proper training and skills to succeed in this lucrative but competitive field.
Before committing to any program, be careful and diligent about who is up to date and who is not. Thoroughly research all offers before giving someone your hard-earned money. Read reviews and complaint boards and find out what people are saying about products and companies. Be objective while doing your homework. Don’t be fooled by any company showing you a “check” made out to one of their affiliates that sounds “too good to be true.” If it sounds or sounds like it’s too good to be true, it is, so stay away. Do not fall in love with anyone who claims that they can make you rich without risk or effort. It’s not possible. If it were, we’d all be rich! As the economy continues to weaken and people scramble to find alternative means of financial security, business ownership will continue to attract African-American entrepreneurs. It’s time to invest in yourself and your future with a home-based business!