Studies Suggest African American College Graduates Find More Success In Self-Employment

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Nhophotos, Chicago, IL, African American College Graduate, Black Unemployment, Black Self Employment

Photography by NHOPHOTOS; Chicago, IL

According to a report by the Economic Policy Institute, 10.8% of African American college graduates were unemployed in comparison to an 8.7% for white graduates. The disparity found in the data points to larger issues of race, education, and social mobility in the United States. Last month the unemployment rate for African Americans (14.1%) was nearly double the national unemployment rate (8.3%). Given the dismal outlook for job security in the African American community, these minority graduates may find more success in owning and operating their own businesses.

Recent data from the Bureau of Labor Statistics reveals that black self-employment has been on the rise. The number of self-employed blacks grew by 5.7% from 2007 through 2009, in contrast to the 3.4% experienced by self-employed whites. Some minority entrepreneurs have found a substantial amount of success using social media. Twenty-four year old minority alum of the  University of California at Berkeley alum, Charlie Fyffe, started his dessert business, Charlie’s Brownies, on Facebook. “I started my business initially on Facebook, marketing through a fan page for four years before getting a real Web site,” he said in an interview. “As social media has become a societal norm, the popularity of my brand naturally grew with it.”

A number of start-up incubators striving to train and mentor minorities aspiring to become entrepreneurs have developed as of recent. The NewMe Accelerator places aspiring minority and female start-up founders directly into the racially homogenous Silicon Valley. Another incubator is 100 Urban Entrepreneurs, which identifies, finances and mentors 100 urban entrepreneurs from economically disadvantaged communities within 12 months. Thanks to the world wide web, starting a business is literally right at the fingertips of many minorities.

If you’re a minority business owner, list the name and contact information for your business in the comments.

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28 Responses to Studies Suggest African American College Graduates Find More Success In Self-Employment

  1. And of course we all know that more college blacks are finding this success primarily because of racism in the work place by racist employers, who will use every tactic in the book to keep from hiring a black If necessary with a majority of them attending church every Sunday etc, so called pillars of the community, lol.

    R. Brown
    August 30, 2012 at 5:34 am
    Reply

  2. I told my son, when he graduates from college next May to WORK FOR SELF! He’s making plans on doing this because he has found out that these crackers are not going to hire him, even tho he has an edu-mo-cation!!!

    GOOD ARTICLE

    Derrick
    August 30, 2012 at 1:29 pm
    Reply

  3. Self Preservation.

    David
    August 30, 2012 at 2:19 pm
    Reply

  4. Thanks for this article!

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    Kysha Cummings
    August 30, 2012 at 2:43 pm
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    D. Blackwell
    August 30, 2012 at 5:07 pm
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  6. We as African Americans have to understand that we live in the so call free enterprise system, and get with the program.

    Carlos Nelson Sr.
    August 31, 2012 at 10:55 am
    Reply

  7. That’s because all these companies are owned by this rich white racist old men! Like they go give blacks any help!!!

    From The Soul
    August 31, 2012 at 7:36 pm
    Reply

  8. This is the only way to go IMO. Eliminates the glass ceilings, the racism, the mediocrity and everything else that comes with employment in corporate America. More of us going for this option actually helps those who can’t for various reasons by creating options for employment. My own business started 29 years ago because of my frustration with corporate America and this becomes even more important now given the bleak employment prospects.

    GREG L
    September 1, 2012 at 10:51 pm
    Reply

  9. I say when they graduate they should be equipped with their degree and a passport…because there is a whole world out there…you don’t have to stay here in this country!

    Miss T
    September 2, 2012 at 6:28 am
    Reply

  10. Entrepreneurship is the way to go but most of the time one has to have a loan, and sometimes in order to get the loan one must have a job. So, it’s not just 123.

    John H Hill
    September 5, 2012 at 2:45 am
    Reply

  11. Freedom is controlling your destiny. One must learn to be teachable, and then one can become a leader. To be self employed or to own ones own business they must be of free will,and poses patients to acquire the fruits of their endeavours.
    Caste all doubt to the wind- yet maintain a sense of 1+1=2.

    Boycott Christmas 2012

    Phillip Battle
    September 5, 2012 at 4:45 pm
    Reply

    • I love the statement BOYCOTT CHRISTMAS!!!!!!!!!!!!!! THIS IS A GREAT IDEA. THIS WILL SHOW THE COUNTRY HOW POWERFUL THE AFRICAN AMERICAN DOLLAR IS WHEN IT COME TO AMERICA’S GROWTH. BLACK PEOPLE BUY EVERYTHING REGARDLESS TO HOW MUCH OR LESS THEY MAKE.IT IS A KNOWN FACT BLACK PEOPLE SPEND ALOT OF MONEY ON THINGS THE COST ALOT. SOCIETY HAS GOTTEN SO IT GEAR THE MOST EXPENSIVE THINGS TOWARD BLACKS IN AMERICA. WE NEED TO STOP BUYING ALL THIS EXPENSIVE STUFF THAT IS FLASHING AROUND OUR COMMUNITIES AND SEE WHAT HAPPENS.

      SILVER SHIRLEY
      October 5, 2012 at 6:50 am
      Reply

  12. After working in the school district for around 10 years, I decided to start my own business. Premier Family Counseling offers educational counseling as well as family issues counseling (adoption, foster children) and Crisis Prevention counseling. In this society, it seems as if Crisis Prevention is needed more than ever with layoffs, home losses, and high stress levels. Families need help and this is what I do and I love to help. I’m located in Southern California.

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    Kelli DuCloux
    September 7, 2012 at 7:21 pm
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  13. A job is not necessary to obtain a business loan. The starting point for virtually every new business is a business plan in which the entrepreneur describes his or her business strategy. The most common sources for funding are family, friends, personal savings, lending institutions, investors, and governmental agencies.

    P-dubVA
    September 7, 2012 at 9:43 pm
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  15. African American College Graduates are finding it more difficult to obtain employment after graduation than ever before.The fact that Black Buying Power Nears[$1.1 trillion].”Too often,companies don’t realize the inherent differences of our community are not aware of the Market Size Impact and have not optimized efforts to develope messages beyond those that coincide with Black History Month…African-American over-index in several Key Areas,including Television Viewing and Mobile Phone Usage…With a buying power of nearly[$1 trillion annually],if Blacks were a Country,they’d be the[16th]Largest Country in The World…The number of Black Households earning[$15,000]or higher grew by almost[64%],a rate close to[12%]greater than the change in the overall population’s earning between[2000 and 2009]…This continued growth in Affluence,Social Influence and Household Income will continue to impact the Community’s Economic Power…Blacks make more Shopping Trips than all other groups,but Spend Less Money per trip…Blacks in Higher Income Brackets,also Spend[300%]more in Higher End Retail Grocers more than any other High Income Household.

    ana
    October 11, 2012 at 10:35 pm
    Reply

  16. Hi ,
    I am so glad I saw and read this article this is something that I have been trying to encourage my 2 sons that in their lifetime they have to work for themselves my company is Yancy industries and what we do is work with consumers subcontractors and general contractors special installing granite or any stone countertops in bathrooms and kitchens in commercial or residential properties any stone countertops for your kitchen an for your kitchen and bathrooms in different in different states to help consumers and contractors enhance the look in the kitchen and bathrooms in the consumers homes

    Coy F Yancy
    October 16, 2012 at 5:19 pm
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    Sean
    November 13, 2012 at 6:36 pm
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    Husan Thompson
    November 18, 2012 at 2:19 am
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  19. I wish all young African American college/high school graduate would understand that getting a job is not freedom; but rather starting your succesful business. Do you really believe, that in this econcomy where so many white boys are out of work that a brother/sister is going to get hired? You are a real fool, if you believe it. I have been looking for an attorney job for the past year;no such luck. I am going out on my own and hopefully, one day, can bring on another brother/sister in law. We need to wake up. Desipite having a Black President; we have been set back years. The only saving grace is a war to get started. So glad, our President has common sens about that. Black folks need to stop spending one day and let these systems feel the pinch.

    ann teacher
    March 26, 2013 at 10:29 pm
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    April 29, 2013 at 3:36 pm
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  21. It’s very good to let our kids go to school and to graduates with the specialization so that the can creates their own jobs.

    Bol Angok Tapdor
    May 11, 2013 at 9:53 pm
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  26. You should definitely take a look at MANEUVER THE MATRIX. It discusses college, self-employment and life beyond the 9 to 5.

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    Byron
    March 8, 2014 at 6:15 pm
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  27. Best article i’ve seen on this site.I often wonder why black millionaires of all occupations especially sports do not pool their millions and come up with a black walmart,black theatre,black groceries stores,black clothing stores,black lawyer firms black BANKS etc etc .Every darn thing black and hire our own people.I’m an electrician,plumber,electronic tech,hvac tech i’m doing my part.Go to 2 year technical schools or any school start small and price low this will increase your cliental.Black people WE CAN DO IT.

    shouldofpickyourowncotton
    March 8, 2014 at 7:46 pm
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