Minority Business Owners Are Cashing in on This Recession

Dayton, OH, January 30, 2009 --(PR.com)-- This recession can be the best thing that happened to black entrepreneurs. The most entrepreneurship by any single group has been seen by Black Americans, and the recession at first glance may seem like the beginning of the end. But, some business owners are cashing in on the recession as the time to really build their small businesses.

Lisa Phillips is owner of Books For Black Women, an online bookstore that distributes literature relevant to black women and their reading habits. Talking to Lisa, this recession is actually giving Lisa more opportunities than she has ever had before to build her business. According to Lisa, “You can’t beat the low prices for advertising, nor the willingness for businesses to negotiate more than ever for their services. Also, my warehouse and distributors are more actively participating in the success of my business. You definitely get a lot more love from the business community, because the recession is a shared challenge by all of us.” This has especially been true for Lisa with other African American business owners. “When I call to make inquiries, they go above and beyond to help out, especially when they find out the products I have and the clientele that I am developing. I love it.”

Some successful entrepreneurs from MSNBC “Your Business,” of which Lisa is an avid viewer, are even suggesting that if you can make it during these times, you can make it during any time. “What gives me optimism,” says Lisa, ”Is that even during these economic times, I have a product that is recession proof. When you stop going out for your entertainment, and when the economic situation is worrisome, one thing my clients will do is read a juicy novel. It’s a one-time purchase they can curl up with and get those hours of enjoyment. If this is how well I am doing during a recession, I am going to work my hardest to build my business up to maximum capacity, and prepare for the expansion. And this is the time to do it.” This is especially true for African American business owners, where the cash flow is a major inhibitor to joining the ranks of wealth we aspire to.

What advice, if any, would Lisa give other entrepreneurs? Lisa advises, “Take the time to see if your product is recession proof. This is an indicator of the longevity of your product, and also gives you the time to buffer up your services as needed if it’s not, which is a win-win situation any way you look at it. Also, please take advantage to heavily market your business while the prices are so much lower, and radio stations are practically giving away spots.” You can contact Lisa by email, lisa@books4blackwomen.com or look at her online retail store at www.books4blackwomen.com.

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