It’s been a little while since I wrote a blog post. Last time I wrote one, I was chairing an ad hoc committee made up of my collegues from the Georgia House of Representatives—House members from both the Economic Development committee and Small Business and Job Creation committee where I serve as the ranking Democrat. The purpose of the committee
was to hold hearings in metro Atlanta to discuss ways to improve our investment environment in Georgia to make it easier for investors, individuals and institutional, to invest in Georgia based businesses and for businesses to receive private investment funds. (Report from Private Investment Policy Focus Group, June 2016)
Now I want to turn to a more specific topic—economic justice for minorities, particularly African Americans. You see, I happen to be a African American woman that works in the capital markets industry, practicing securities law (which is a fancy word for “I help companies that want to raise millions of dollars to start or grow their business). I have seen where the almost $1.2 Trillion in private capital funds over the last 10 years has went—and you’ll be shocked to know 95% of it did NOT go to minority owned companies. As a matter of fact, minority firms are lagging behind in a few areas due to capital disparities. (Source)
It has been reported that black spending power for 2016 will reach $1.2 Trillion and reach $1.4 Trillion by 2020, a 275% INCREASE from black spending power since 1990. (Source) But here is the question: What are we going to do with all this black spending “power” if we don’t use it? Just look at the number of U.S. minority owned firms and the economic contributions we have made to this nation.
Over the past few years, most of the politicians, speaking heads and activists have focused on social justice given the unarmed black man shootings that have occurred throughout the country. And rightly so! But I implore and ask anyone reading this post to stop and consider my theory: I believe that 1) We cannot talk about social justice without talking about economic justice at the same time and 2) the path to social justice, I believe, will come faster and smoother if we focus on economic justice issues. No one has to agree with me—I am just telling you my thoughts. And the reason for my theory is something that I have learned over the 8 years I have been practicing corporate law, meeting with those who have millionaire dollar net worths or access to millions, attending events where capital is being distributed, patronizing black businesses and talking with blacks with high net worths and disposable income and serving almost 7 years as a member of the Georgia legislature: Money is the universal language of mankind. A black man’s currency has the same worth as a white man’s. So if we are to catch the attention of those that are violating our social and civil rights—-speak with the almighty dollar and watch who listens, how fast they listen and the call for change. Again, my theory. No one has to agree.
That being said, let’s start to have the discussion around how to empower and support black businesses, how to communicate information among our community without fear of some other person of color of getting ahead of us and learn how to create generational wealth to leave to our children and families. I invite you all to participate in this discussion with me at Emory on Sept. 8th along with a dynamic moderator and great group of panelists (We will even have a reception before hand for networking.)
RSVP HERE (Limited spaces!)
I hope you can join me for a GREAT discussion.
I am Dar’shun Kendrick, Private Securities Attorney and Owner of Kendrick Law Practice, helping businesses raise capital the LEGAL way. We work with “for profit” companies seeking to raise $250,000 or more through private capital (including crowdfunding) that have a line item budgeted for legal services. We do NOT find investors or introduce companies to investors; that is the job of “broker-dealers” and we are prohibited under federal securities law from doing so. I have 2 B.A.s from Oglethorpe University, a law degree from the University of Georgia and an M.B.A. from Kennesaw State University. View past and upcoming speaking engagements and request me to speak to your organization. I have been elected to the Georgia House of Representatives (East DeKalb/South Gwinnett) since 2011 and I serve on Juvenile Justice, Judiciary Non-Civil and as the ranking Democrat on the Small Business and Job Creation Committee.
You may be interested in my non-profit organization as well to EDUCATE and EMPOWER minorities:
We are ONLY authorized to practice law in Georgia and therefore any legal advice in this blog only pertains to Georgia based businesses. Please visit us online to sign up for a time to discuss services or for our 1 hour consultation.
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