Dr. Boyce Video --The Importance of Owning Your Own Business

In case you didn't know this, one of the things that most people think about every single day is how they are going to make enough money to get by. Life is tough and finding enough money to live can be even tougher. What's worse is that the black community's struggle to build economic institutions and obtain financial security are things that keep us from being truly liberated in a fundamentally and historically racist society. The link between civil rights and economic prosperity was the seminal reason for my book, 'Black American Money.'

The commitment I made to the black leadership and the audience at the "Measuring the Movement" forum this year (hosted by Al Sharpton and the National Action Network) was to promote the idea of black entrepreneurship. Entrepreneurship is not just a matter of having your own business. It can also be as simple as finding some extra streams of income in order to obtain critical financial security. In this economy, you have no job security if you've only got one job. You have to find (what I would call) "a side hustle."

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With that said, I also believe that we must teach our children the fundamentals of having their own businesses so they can better endure black unemployment during recessions and face the tremendous challenge of managing the racial wealth gap. In fact, understanding where jobs come from can be critical to their survival.

To learn more about this important topic, I brought in Danielle Douglas. Danielle is an entrepreneurship expert and CEO of Inspire Enterprises. Please listen to what she has to say, for I found the information to be incredibly helpful. Enjoy!

Dr. Boyce Watkins is the founder of the Your Black World Coalition and a Scholarship in Action Resident of the Institute for Black Public Policy. To have Dr. Boyce commentary delivered to your email, please click here.