The regulatory challenges for people living in urban communities to open their own businesses is astounding. It is much easier to open a business in Detroit or any inner city if you are not American or not from the district than it is if you are from the area, regardless if you have great credit.
The federal government wants to be the owner of all local businesses via debt creation it perpetuates as a condition of funding small businesses it should never be involved with to begin with.
Meanwhile, the same Federal government empowers corrupt loaning practices by banks who are predatory and often discriminatory in their loan practices.
Additionally, the same federal government sanctions labor laws which make it impossible for local tax payers to even create entry level jobs doing something as simple as picking up trash at construction sites, for example. You have to be union to do that in most cases.
So I always tell people to be careful when running with soundbites and issuing “lift yourselves up by the bootstraps” lectures that usually are rather uninformed and out of touch with the daily realities of who they are condescending to. It is not so easy as it sounds.
That is why we have to fight against over regulation on all levels and attack systems that prevent strong free markets locally instead of beating up on folks who are suffocated by the system, often beyond their control.
Also, we need to promote English and Financial literacy and help raise capital for economic development that is independent of the government.
If we can give over $6 Billion for Political campaigns, I see no reason Americans cannot pool resources for our own economic development, especially where it is most needed.
It’s easy to be a critic of people due to their circumstances and what you assume to be their perceptions.
It is much more credible to be difference maker. A game changer