It Takes a Village to Raise a Black Business
Village System Principles - Vision, Ownership, Relationships, Resources, Reciprocation
Entrepreneurship ecosystems are the new way communities are growing entrepreneurs. This can be a hard concept to initially understand. Black people though have a saying, "It takes a village to raise a child". We understand that in that village you have people who provide information, support, share knowledge and wisdom, and also model working together to build the strength of the village. This is exactly what an entrepreneurship ecosystem is. It is an entrepreneur being support and supporting their community. This "village ecosystem" when strong, provides capital, training, builds relationships that help business get done, and shares information and provides a support system for local entrepreneurs.
That is why we call Black ecosystem building in our communities "The Village System". Building a strong Black ecosystem requires a system. Your Black Economy has developed five key principles of a strong Village System.
The key principles of the Village System:
Entrepreneurship ecosystems are the new way communities are growing entrepreneurs. This can be a hard concept to initially understand. Black people though have a saying, "It takes a village to raise a child". We understand that in that village you have people who provide information, support, share knowledge and wisdom, and also model working together to build the strength of the village. This is exactly what an entrepreneurship ecosystem is. It is an entrepreneur being support and supporting their community. This "village ecosystem" when strong, provides capital, training, builds relationships that help business get done, and shares information and provides a support system for local entrepreneurs.
That is why we call Black ecosystem building in our communities "The Village System". Building a strong Black ecosystem requires a system. Your Black Economy has developed five key principles of a strong Village System.
The key principles of the Village System:
- Vision - The village must develop an economic vision and agenda for itself in order to create a culture of Black entrepreneurship and ownership in the village.
- Ownership - The village must prioritize the creation, growth and support of Black entrepreneurship as the primary ownership strategy for the village.
- Relationships - The village must develop strong relationships both inside the village and outside the village with individuals and institutions that will support the village's Black entrepreneurs.
- Resources - The village must work to acquire and grow the resources and information necessary to support the village's Black entrepreneurs.
- Reciprocation - The village must encourage the Black entrepreneur to give back to the village and provide ways for the Black entrepreneur to do so through hiring, funding, and mentoring when they become succesful.