(The Network Journal) — Owning a business has its obvious perks (i.e. scheduling flexibility, direct control over profits and loss, ability to pass wealth down to the next generation, etc). African-Americans are opting for these benefits. In fact, according to the United States Census Bureau, as of January 2010 approximately 1.2 million African-Americans owned their own business. Combined annual revenue generated by these firms exceeds $89 billion.
The numbers can be intoxicating. However, steering a business into continuous success is a process. Before you launch a new business make sure you complete market and organizational due diligence steps. Doing so will help ensure that your start-up company succeeds not only during the current economic climate but for the long term as well.
