April 18, 2024

Black Entrepreneur History

#1 Source for Black Entrepreneur History

Why Investing In Each Other Works To Benefit All In Black Entrepreneurship

When Black people invest in each other and great ideas, it has been proven that it can change the world. As a matter of fact, the greatest movements and communities in Black history have been born from Black people supporting one another in common goals.

Proof of this comes from a man who passed away in 2001, but left a lasting impact on how a Black-owned idea became many Black-owned ideas and turned into Black entrepreneurship, self sufficiency and freedom for many, even across the ocean into South Africa.

This man’s name is Leon Howard Sullivan, and his investment plan called 10-36. He founded the first African American owned shopping center when he implemented the 10-36 plan which was when he invited a group of Black people to invest in his real estate which was owning a full apartment complex. They would pay $10 a month for 36 months. About 600 people invested and they all ended up shared owners in the complex at purchase! After that, he founded the 1st African American owned shopping center in the USA, and guess who had stake in it? Everyone else who put in!

Investing with each other is exciting and proves to do extraordinary things such as:

  • Provide Independence
  • Provide Jobs
  • Increase Entrepreneurship
  • Control & Keep the Flow of Wealth in the Community
  • Build on Financially Sound Foundations
  • Create Options for Youth & Elderly
  • Build on Networking & Fair Lending/Buying Options
  • Change Narratives From Negative to Positive

All of these items are could happen even in the smallest groups in any country, proven in the United States in America through several Black Entrepreneurs in the past.

Read the story of Leon Howard Sullivan here.