JCSU to release minority business study

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JCSU to release minority business study

By Glenn Burkins – September 13, 2010

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Johnson C. Smith University will release a report Tuesday examining the state of minority entrepreneurship in Charlotte.

The report, titled the “Characteristics and Social Financial Capital Status of Minority Entrepreneurs in Charlotte,” was conducted by the JCSU business school, with Haseeb J. Ahmed, associate professor of finance, serving as lead researcher.

The school did not release early results of its findings

JCSU began the study in June at the request of the Urban Business Network, a group formed by a group of local black business leaders, including Damian Johnson, co-founder of No Grease Inc. The group was concerned that minority businesses in Charlotte were not getting the support needed to flourish, especially support from local banks and larger, mainstream business.

“Small businesses are not feeling the love,” Johnson told Qcitymetro in a phone interview Monday. “If this is a small business city, then let’s see leaders back their words up with actions.”

Former Charlotte Bobcats owner Bob Johnson made headlines in May when, speaking at an Urban Business Network gathering, he accused the Charlotte business community of being “close-knit,” “arrogant” and “sometimes incestuous.”

"I am surprised at the number of people ... that come to me looking for financial backing that they haven't been able to find in the business community…,” he was quoted as saying. “I'm surprised that there aren't more substantial alliances between larger white businesses and minority-owned businesses."

In working with JCSU researchers, The Urban Business Network recommended 75 individuals for the focus group who were small business owners or who had an interest in becoming entrepreneurs. In addition, the study included a survey that was conducted among 200 local business owners.

Damian Johnson said the research also included Latino businesses.

“I think Charlotte really wants to be supportive of small business,” he said, “but I think they don’t know what to do. I think some positive things are going to come of this.”