Garvey's Ghost: Black Talk

Two Stories continued

I guess I would have to change the title to "Three Stories" if I wanted to be accurate. Today I stumbled on an article in the Philladelphia Inquirer entitiled: Minority firms lag in city deals wherein' the following statistics were offered:

quote:
Today, that program has long since been ruled unconstitutional. In a city where well more than half the population is African American, Hispanic or Asian, minorities' percentage share of the government's business is still stuck in single digits, according to a city study....

According to the U.S. Census, the Philadelphia area has fewer black-owned firms per capita than any other major metropolitan area with a substantial minority population.


Those businesses, which numbered 17,863 at last count, generate less than one-half of 1 percent of all the revenue from firms based in the city and eight neighboring counties in Pennsylvania and New Jersey.


So of all the economic production in Philladelphia, black businesses generate less than .5% of that production. So if the total revenue from all businesses on Philly was say $10 Billion that black take on that would be $50 Million. Spread out over 17,863 black businesses AND assuming that all these businesses generate the same revenue (not) The take for each business would be: $2799.00. YOu read that right. Clearly then many of these black businesses are operating at a loss. Again this is the progress from 1912.

Links:
http://www.philly.com/mld/philly/news/breaking_news/8950642.htm?1c