The current economic crisis is being called the worst economy since the depression of 1930. While over-all unemployment continues to climb, African-Americans are experiencing job losses at nearly double the national rate, and this is expected to worsen as the condition of the economy declines. However, as more people lose traditional jobs, more and more business owners are being created. By becoming a business owner and working for yourself, you are at least gaining some control over your financial future, which is why more people are turning to home-based businesses for security.
African-Americans, by and large, have always been a very entrepreneurial group. The statistics on new business startups are very encouraging.
- From 1997 until 2002, the number of black-owned businesses were up 45 percent. There are approximately 1.2 million African American-owned businesses and they employ an estimated 750,000 people with over $80 billion in revenue.
- The state of New York 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-based business options in today’s economy. The explosion of Internet and Social Media usage has created an extremely lucrative job market niche for internet marketers and Multi-level marketing opportunities. Online shopping and advertising is at an all-time high. There doesn’t seem to be a recession on the World Wide Web. This phenomenon has people flocking to the internet in droves. Some people are making a successful living working online from home. Home-business ownership has become more prevalent now than ever before.
African-American consumerism is on the rise. Black online businesses are on the rise. Are you in the position to capitalize on this phenomenon?
If you are one of the many African-American entrepreneurs who is interested in having control over your own financial future, and you 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 earn your 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 who are online.
In order to become a successful internet marketer, you will need to find a legitimate, mentoring/tutoring partnership program that will offer 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 do not possess the proper training and skills to succeed in this lucrative but competitive field.
Before committing to any program, be wary and be diligent about who is on the up-and-up and who is not. Research all offers thoroughly before giving anyone your hard-earned cash. Read the reviews and complaint boards and find out what people are saying about products and companies. Be objective while doing your homework. Don’t fall for any company that shows you a “check” made out to one of its affiliates that seems “to good to be true.” If it sounds or looks like it is too good to be true, it is, so walk away. Do not fall for anyone who claims they can make you rich with no risk or effort. It’s not possible. If it were, we’d all be rich! As the economy continues to weaken and people strive for alternative means for financial security, business ownership will continue to appeal to the entrepreneurial African-American. It is time to invest in yourself and your future with a home-based business!