Making Room For Entrepreneurs In The Community

Check out Interview with the Experts - Nia Bullock and Naima Kramer NuVu Productions, LLC

The worlds perception of entrepreneurship is normally positive. European countries and some 3rd world countries may have a less positive view on entrepreneurship but here in the US, we see entrepreneurs in a positive light and are inspired by them, for the most part. Millennials, who have grown up looking up to people like Mark Zuckerberg and Andrew Mason of Groupon, are influenced positively by entrepreneurs.


So, if entrepreneurship promotes the positive, why aren’t more communities making enough Space for Entrepreneurs?

The Downside:

  • Women entrepreneurs are not always viewed equally. According to SCORE women face challenges such as Market misperceptions, Network exclusion, and Managing expansion while underfunded.

  • People’s perceptions on believing that while entrepreneurs are successful, they also have some bad personality traits.

  • The Black-White Wealth Gap has made black entrepreneurs more likely to experience downward economic mobility and less likely to experience upward mobility, compared to their white counterparts. The challenge continue for economic inequality.

  • Another downside for entrepreneurship is that it is linked with capitalism. Those who do not support this ideology do not see entrepreneurship in a positive light.


Nassim Taleb, risk management expert and author of many books including The Black Swan, Antifragile, and Skin in the Game, has suggested that:

“In order to progress, modern society should be treating ruined entrepreneurs in the same way we honor dead soldiers.”

That is because success for an entrepreneur is in finding a way to make a living by being of service to others, by providing a good or a service that is so valuable that their neighbors will pay them to continue doing so. That’s the kind of success every community needs.


The person who buys the Dunkin Donut franchise is an investor. The person who starts a doughnut shop in the vacant storefront with only a deep fryer, a folding table, and a smartphone for taking payments is an entrepreneur. The next-door neighbor has decided to open a needed daycare in the neighborhood. It’s that Auntie who can really cook and decided to get her food license and buy a food truck to sell her special treats.

Local communities, especially when they are struggling, need entrepreneurs. They need their energy and passion. They need their risk-taking. They need their ideas. Even if it takes 50 failed entrepreneurs to create one successful one, that success can transform an entire community.

Entrepreneurs do not require handouts or subsidies; they don’t have a need to invest in public infrastructure. Entrepreneurs merely require an economic ecosystem that enables them to pursue their passion. They literally just need space to be an entrepreneur.



Entrepreneurs require support from a resource-focused community to think differently about some things.



1.Understand the nature of risk in starting a business.

An investor seeks steady gains over time, but entrepreneurs are generally engaged in pass-fail types of endeavors. Most entrepreneurs will fail, at least at their first attempt. The nature of taking a risk is to have many attempts, each with low cost and low risk, as a way to grow into success. Local communities must learn to support and accept those small setbacks as the cost of large future gains.


2.Move out of the way

Developing an ecosystem for entrepreneurs points more to removing obstacles than aiding and support. To create a more successful outcome among entrepreneurs, agency and local government must reach out and ask entrepreneurs, “what are you struggling with,” and then work to diminish that struggle than developing plans and programs to broadly assist the business community.


3.Celebrate success and do not cultural failure

Many communities take business failure as an indication of a broader community failing. This can lead to finger-pointing, or worse. This is especially true in the Black community, as many tend to compare a white-owned business to a black-owned business without taking the Black-White wealth gap, or Black economic struggles into consideration. Also, In the black community, you will find many negative stereotypes about black entrepreneurs, which creates negative contradictions and discouragement. The reality is that most entrepreneurs will fail, regardless of the community, race, or color. What should reflect poorly on the community is if not enough Black entrepreneurs are stepping forward to give their ideas a try.


4.Change the narrative

The dialogue about entrepreneurship must be changed to match reality. Entrepreneurial ecosystems often focus on access to capital, but lack of access may be a symptom rather than the root illness. Many women experience limited, gender-based, access to established social and business networks, creating less access to knowledgeable mentors and capital expansion.



While there is a difference between investors and entrepreneurs, any community that wants to experience success ultimately needs both. A big part of building local wealth is giving the community the capacity to invest in itself, but investments of outside capital can also be positive. A more successful approach is to create an active ecosystem of entrepreneurs that signals to outside investors that they should want to be there. In this case, success creates its own success. An active set of successful local entrepreneurs will lower the risk, and potentially increase the return, for outside investors and make the community a more attractive place for them to put their capital to work, no subsidy required.



 

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EXPO Date: Saturday July 24th,1 PM - 6 PM ​PLACE: 6345 N. Broad St, Philadelphia, PA 19141


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Blog Spotlight


This month we shine the spotlight on Nia Bullock and Naima Kramer. Producer and Director of NuVu Productions, LLC. Learn about Tender Days the Movie, and gain in-depth info on how to make feature live film.

NuVu Productions produces high-quality movies and other entertainment. They design all of their merchandise.


During the interview with the experts, Nia Bullock talks about the challenges in creating a film such as budget restraints, stereotypes, and lack of financial support. While speaking to cast members Khadijah Brown (who plays Betty), and Brandon McLean (who plays Regal), on the Tender Day Movie, you get a sense of ownership and dignity, as well as a sense of responsibility in providing a movie for such a time like this. Not only is this a romance movie but it is also a film that promotes Jesus Christ.

When asked what advice that she would give to new entrepreneurs and small business owners, Naima Kramer said - "My first question would be is if this is what you really want to do, and if that person says yes, then I will tell her to go after it. When you truly want something you will work hard at getting it".

For more information on or to learn more and apply for a job, please call (484)-466-9603, email Nbullock@nuvuproductions.com or check out their website www.nuvuproductions.com

See the full interview with Nia Bullock and Naima Kramer. Producer and Director of NuVu Productions, LLC. on the BSF Designs YouTube page and Facebook page.


We are always in need of Experts who are willing to do interviews!!

If you know of someone who officially owns his or her business, is an expert in his or her field, and is willing to be interviewed; please contact us with information bsfdesigns@gmail.com.





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