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Pied_Pfeffer's avatar

What is your opinion on creating/supporting more minority owned businesses?

Asked by Pied_Pfeffer (28141points) July 7th, 2021

In the US, this seems to be important. There are many internet sites that aid minorities, both financially and via promotion, in starting a business.

The last company I worked for, if we needed to hire a consulting company, we were required to obtain at least three bids, and at least one being minority-owned. We had no issue with this, as we were allowed to select the company that could best meet our needs, which were outlined on the front-end. It took a bit longer in the search to find a minority-owned business in our field, yet it was accomplished.

The need to support minority-owned businesses in the US is understandable. Does it need to be supported by govt. funding, and should it be necessary for businesses ensure that they are obtaining a bid from one of these companies (perhaps for a govt. kickback; I don’t know.)

If you do not live in the US, how would your country react to such a movement?

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8 Answers

filmfann's avatar

Imagine we are going to play Monopoly.
At the beginning of the game, it is decided by a roll of the dice that one player will be unable to buy property for their first 5 trips around the board. That player will still have to pay any rent or fine.
Pretty unfair, right?
That’s how minorities have been treated. Even after they are able to buy property or get jobs, they are so far behind most find it impossible to compete.

kritiper's avatar

To each his or her own. Anyone who starts their own business takes a roll of the dice. It is not for us to say one way or another.

Pied_Pfeffer's avatar

@filmfann I’m afraid that you’ve lost me. That sounds like a straw man. If the roll of the dice decides who will be handicapped, how does that support that it is always a minority?

Kropotkin's avatar

I don’t give a shit what colour or creed the capitalist boss is.

He’s still a parasite in an exploitative system.

I want support for collectively and democratically controlled workplaces, and not for private fiefdoms of bosses extracting value from workers. Doesn’t matter if it’s a “minority”.

JLeslie's avatar

I have gone back and forth on this. 20 years ago I felt like the time for quotas, affirmative action, and requiring a minority bid was over. I always had supported those things in the 70’s, 80’s, and 90’s, because I felt like to get to equality it was necessary to force it through policy, and even favor minorities for a while.

Then, in the 90’s and early 2000’s I felt like the time was past for needing these sort of rules. At that time I couldn’t imagine people still looked at race or ethnicity as a reason not to hire someone. I was a young adult working with diverse people and believed in a merit system, and I guess I was quite idealistic. By the mid 2000’s I had reversed again thinking maybe it was still necessary.

I became more aware of the good ol’ boy system that was still happening. Requiring a minority bid sounds ok to me, although it would not necessarily fix the good ol’ boy problem, but might still help when there is not a pre-existing relationship between companies.

There is a lot of help and opportunities out there for minority business owners, even help with getting business loans. I guess I support it. Does it mean white people have less access to loans? I don’t think so, but I would be interested to know. I remember once reading minorities could get retail space easier in an airport. From what I understand space in an airport is hard to come by. It might have been a particular airport. I also remember special consideration for minorities who wanted to own a McDonald’s franchise, that might be the case with other large franchise companies.

Women are often classified as a minority, so a married couple can just put the business in the wife’s name I would think. Same when a spouse is some other type of minority. So, I think there are some loopholes.

Inspired_2write's avatar

In Canada hiring a minority gave the employer tax incentives and /or the government paid half of the employees wages, so it benefits both the employer and the employee while balancing out equity.
link to one site offering wage subsidies to employers in Canada.
https://rdpassociates.com/grants/canadian-hiring-grants-and-wage-subsidies/

Pied_Pfeffer's avatar

@Inspired_2write Thank you for the response. In this question, it is intended to target hiring minority-owned businesses for contract work, not an individual to fill an open position.

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