Economic Empowerment
Realize your Full Economic Potential
$900 billion by 2008. Over the last 15 years, it has increased at a rate far greater than that of white Americans. Nevertheless, we continue to lag behind. We lag in home ownership, a major component of net wealth. While 76% of whites own a home, only 48% of blacks are home owners. We lag in savings, particularly retirement savings, another major component of wealth. We also lag in business ownership. Despite an enormous increase in Black-owned firms and an increase in gross sales by those firms, black businesses account for only 4.2% of all business firms nationally.
The 1997 census shows total receipts for African American owned businesses barely exceeded $71 billion The average receipts of Black owned firms in 1997 was $86,500 compared to $891,000 for all firms. The 100 Black Men of Sacramento chapter aims to develop programs that address the economic underdevelopment of the African American community - programs designed to promote savings, home ownership and entrepreneurship. Our goal is to instill positive economic values in young people and encourage adults to realize their full economic potential. The challenge is daunting but we are prepared to confront it.