April 15, 2024

Black Entrepreneur History

#1 Source for Black Entrepreneur History

Buy Up the Block Using a Money Saving Method Founded by Leon Howard Sullivan

Have you ever wanted to buy the block or even just thought about it? Many Black people are accustomed to watching as their once prosperous communities become run down over time from lack of financial investments, red-lining and as the government decides that the best place to put a four lane highway is directly down the center of its location, destroying Black businesses.

The impact is devastating on Black entrepreneurs and the Black community overall, across the United States of America and even beyond the USA. There has been true devastation in the Black world overall. It doesn’t have to remain that way.

We can bring Black Meccas and Black Wall Streets all back by utilizing a money method founded by Reverend Leon Howard Sullivan when he and hundreds of others “bought the block” and with the revenue founded the first Black-owned shopping center in the United States.

Why wait for investors? Black communities must always remember to invest in ourselves and in our communities with his 10/36 method.

Now, his 10/30 method may end up being 100/36 method in today’s dollar with the way inflation works, however, it can still be done, even if it is a 50/48 method. Here’s how it works:

  • Network with a large group of like-minded Black people who understand saving and then investing for the immediate and long-term future of the community and financial freedom, which in the end means power. The people don’t have to be rich. They have to be able to save a dedicated amount each month.
  • Decide on an amount that will be saved per month by each individual in the group. This depends on the amount of the future purchase and the term limit on the savings. In Reverend Sullivan’s case, he and his group of 600 or more saved $10 per month for 36 months (10/36 Method) and brought all their savings together in order to buy and launch their property for business.
  • In the meantime, gain the proper licensing and training in order to train and build up others around in the community. With the funds that come in through the properties, Black entrepreneurs will find it much easier to set up shop inside what was already funded by Black money. The venture capital will be there as well to assist Black entrepreneurs in getting a good start on their business startups in the area.
  • Circulate the Black money. Structure everything within your blocks as one would need it structured outside of your blocks.