Black Economics Principles

Black Economics
Connections
Launch Event

Friday, 18 November 2011, 7pm

East London
More details...

Black Economics Solutions

People/Consumer perspective

1. Invest for growth. Invest for future riches.
2. Save Money always. Even if it is £1 or £1 per week. Join a partner or savings scheme. Knowing other people are watching you helps you save better.
3. Invent a product or service. Prefer to invest in a business than buy a new outfit, or new trainers, or new car.
4. Understand that the rich did not get there alone. Everybody had help up the ladder. And they are sustained there by the pounds and pennies of the poor and middle class.
5. Take a leaf out of the books of good businesses people.
6. Read the stories of business owners who understand the concept of success – however it is done, whatever the commodity or service, and to whomever they can sell to.
7. Start businesses - where real wealth can be attained. Create a product or a service, rather than be perpetual
8. Be aware of black businesses around them, and where possible - encourage the business owner - by becoming customers or clients of those black businesses.
9. Top black professionals, who thrive in the corporate world need to use their talent for the business world also. Team up with others to build strong corporations.
10. People of means, need to invest in black businesses, even if they will not want to run those business themselves. Get to know the prospective business partner until there is trust, and use contacts and corporate knowledge to accelerate the growth.
11. People need to help each other. Tearing other people down is not helpful to a people. Unity is strength. Move in the same direction.
12. Remember you win some, and lose some. Sometimes you will lose money.
13. Playing that lottery weekly is a waste of money. The chances of you winning are 14 million to One.
14. If you must play the lottery, then save at least double the amount weekly.
15. Start Co-operatives.
16. Those who are blessed with much wealth, need to demonstrate that they are giving back.
    

Country perspective

1. Radical changes are required for sustained growth.
   Leaders get paid enough. The country's money needs to be spent on the people, and the country's infrastructure.
2. The old entrenched way of doing things by the civil service needs to be changed. Install new rules.
3. Use the natural resources God has given, to break the back of colonialism.
4. Ensure procedures for selling your natural resources are nationalised and professional, else nobody will be buying from your country.
5. Institute mechanisms to stop fraud and bribery, and have suitable penalties if it persists.