POOLING OUR RESOURCES TO FOSTER BLACK PROGRESS
AN ENTREPRENEURSHIP AND IMPACT INVESTING FRAMEWORK
By Michael J. Isimbabi, Ph.D.
Published by Universal Progress Media
ISBN: 978-1-937143-26-8 January 2014
See also: SYNOPSIS OF THE BOOK
- Over the last decade or two, there has been a substantial impetus among African Americans toward increased investing and wealth-building. [For details, visit http://blackprogress.com/wealth-building/.]
- Impact investing is also garnering substantial interest and gaining a strong foothold in the investment community. There are already successful models of impact investment funds, and black investment and philanthropy professionals are among the leaders of impact funds and affiliated organizations that provide capital to businesses that serve underserved communities and low-income people. To the extent the Fund is able to credibly demonstrate strong positive impact in distressed communities, it will be able to attract even larger amounts of capital from more investors as the impact investing sector continues to grow.
- There is clear and strong evidence of profitable business opportunities in underserved communities that also help to uplift the communities.
- There are numerous black (and nonblack) entrepreneurs who, with increased access to patient and flexible capital, will establish and grow such businesses–many would be strongly motivated by their desire to make a difference and fulfill their own ambitions and social goals by helping to facilitate the transformation of these communities.
The challenge is to establish a credible framework that engenders enough trust and confidence to enable the mobilization and galvanization of millions of African Americans to invest in the Fund—and, yes, black people have the resources to make this happen!
There obviously are many African American visionaries, entrepreneurs and innovators who can make it happen.
Even if the Fund is initially established on a relatively modest scale – in terms of investment dollars, scope of investments and activities, and geographic coverage – the growth potential is obvious.
For obvious reasons, most of the initial investors are likely to be affluent and middle class people who typically have significant surplus funds to invest in the medium- to long-term.
Then, as it credibly and visibly demonstrates its transformative potential through successful ventures and positive impacts in communities, the Fund would galvanize even greater interest and attract investments from the substantial segment of the black (and nonblack) population that finds the idea of fostering progress through impact investing and venture philanthropy appealing.
The concept of the Fund thus requires long-term vision – perhaps five to ten years – to achieve its full potential, which is to transform distressed communities as rapidly as possible. …
Continue reading by “looking inside” the book – the first 10% — for free at Amazon.com.
If you are interested in writing a review of the book, please send an email to firstname.lastname@example.org to get a copy.