The weather was perfect. The facilities were clean and professionally run. All participants wore smiles and had no complaints. The cuisine was abundant and was presented as an All-Inclusive Plan. Such was Punta Cana, Dominican Republic, in the heart of the Caribbean Ocean. It was the venue of our 2nd PanAfrican Entrepreneurs Conference, an international extension of the National Black Chamber of Commerce (NBCC). Last year’s conference was in Houston, which was mainly organizational. This one was about action and making serious plans for progress during 2014.
A major highlight of the conference was the growing affinity between the NBCC and the people of Colombia. We, hereby, introduce to the world the African American Chamber of Commerce of Colombia. It is a charter member of the NBCC and has the leadership of Luis Carlos G. Playonero as general director. It has a documented 650 bona fide members and has received the recognition of the Colombia government.
Juan Camilio Cabezas is the assigned Project Manager representing the president of Colombia to work with this new chamber and to assist in our collaboration. This is unique in the world. Most of our international chambers are extensions of the ruling party of Parliament and do nothing without orders and the blessings of the prime minister or president. This chamber in Colombia is free standing and self-governing just like the NBCC.
Our first mutual project will be a full fledge Trade Mission to Colombia during April. The majority of the Black population of Colombia is along the Pacific Coastline with the city of Cali being the center point. The Trade Mission will be held there. We will identify projects in both nations and start to encourage joint ventures between the members of both chambers.
A major match making event (between companies and live projects) will occur during a week in April, 2014 in the lovely town of Cali, Colombia. This is going to be historical.
Colombia has the highest percentage (16 percent) of Blacks in any Spanish-speaking nation which makes this a natural in terms of potential and selection. There are 187 Black mayors in Colombia right now. Also, the United States now has a Free Trade Agreement with Colombia that makes all business activity duty and tariff free. Things will never be the same. Last week, we heard Colombia President Juan Manuel Santos give a very encouraging speech at the U.S. Chamber of Commerce in Washington, D.C.
We also found opportunities in the Dominican Republic which is part of the CAFTA-DR free trade agreement. The United States has a sizeable network of Dominican American owned grocery stores, especially along our East Coast. It makes perfect sense to provide value added processes to the Agri-Business products of Dominican farms and ship them to the Dominican American stores for consumption mainly from Dominican Americans.
For example, there is a desirable cheese product in the Dominican Republic that just needs to have approved wrapping for importation to the United States. The entrepreneur who satisfies that need will be making a sizeable amount of profit. Madam Yahaira Sosa Machado, Vice Minister of Exterior Commerce, gave a very thorough presentation to our conference participants and we will be following up with her in a major way...Read More
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Black business people must come to understand that the basis of any successful Black business venture must begin and end with two key components. Without these two key components, you will ultimately fail. We have 150 years of historical data to back up my claim. After reading this brief comment, sit back and think of all the Black businesses that have come and gone because they failed to have these two critical components in place.
Number 1 - Any successful Black business must develop and control vertically integrated businesses. This means that from the acquisition of raw materials to selling the retail product, Black businesses must control all facets of the market. It does not matter what the product or service is, to succeed, Black folk must control all of it.
Number 2 - Any successful Black business must also be based on the buying patterns of Black people. Your primary market that you are selling to or servicing must be Black people. Not whites or other ethnic groups. This does not mean that you will not sell to or service other ethnic groups, but your business model is based on the Black market first.
With these two key components in place, Black businesses have a better chance to succeed and prosper because there is no reliance on whites or other ethnic groups for anything. We must strive for independence and self-reliance.
Without these two key components in place, Black businesses will go the way of thousands of previous ones - the Black business graveyard. IMHO. Shalom, my brothers.