(Akiit.com) President Bush calls it an economic “slowdown“, but those affected call it a full-blown recession - and rightfully so. Major airlines have folded, hundreds of thousands have lost their jobs, gas prices are “through the roof“, and the national foreclosure rate is at its highest ever.

In addition to all of this, small businesses across the country are drastically losing customers who no longer have money to spend with them. Black-owned companies, in particular, are affected the most. They have access to the least amount of resources to help in a situation like this, and they are not priority enough for any federal aid.

So, what can you to to beat the recession?

1) Increase your marketing. Buy in to low-cost solutions that are effective, and will drive customers your way. Consider classified advertising, press release distribution, search engine marketing, and directory advertising (Yellow Pages, Superpages.com, etc).

2) Consolidate your staff. No one likes having to let people go, but sometimes you have no choice. Reserve your most productive employees, and have them take on more responsibilities.

3) Break out the coupons, and buy in bulk. Subscribe online to receive coupons and discount offers from Office Depot, Office Max, and/or Staples. This will help you save money on your office supplies. Also, considering buying bulk from Sam’s Club - which has a special membership for small business owners.
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(Akiit.com) Washington D.C.-based Black Television News Channel (BTNC) announced Tuesday it has reached a multi-year carriage agreement with Comcast Cable for distribution in several of the MSO’s urban-based systems beginning in 2009.

The network, created by former U.S. congressman J.C. Watts Jr., will launch in 2009 and will provide original news programming with a distinctively African-American perspective, according to a network press release.

The network would be the first cable service to offer 24-hour news targeted to African-Americans. Prior attempts to launch a full-time news channel have failed, mostly due to the high cost of developing news. Neither African-American targeted Black Entertainment Television nor TV One offer daily news shows, instead relying on short news briefs throughout the day.

“Our unique and vast content partnerships with African American newsmakers will provide our viewers live access to the stories and people in whom our viewers have a special interest,” said Watts in a statement. “With this agreement, Comcast continues to demonstrate its commitment to working with independent programmers with diverse points of view.”

Written By R. Thomas Umstead

(Akiit.com) Money-losing Radio One Inc., which is pinning future growth on Internet outlets, has acquired social networking company Community Connect Inc. for $38 million.

Lanham-based Radio One gains several established Internet sites with the acquisition, including AsianAvenue.com and BlackPlanet.com. It said Community Connect’s sites have more than 20 million members.

“We will be the clear number one in the African-American online space” with the acquisition, said Alfred Liggins III, the chief executive officer, said in a statement. “We believe that they are a great compliment to our existing radio, TV and online properties.”

Radio One (NASDAQ: ROIA) owns and operates 53 radio stations in 16 markets, including four Baltimore stations: WERQ-FM 92Q Jams, WOLB-AM 1010, WWIN-AM 1440 and WWIN-FM Magic 95.9. Its stations primarily target African-American and urban listeners.

Radio One has sold nine radio stations in the last year. Its losses swelled to $386 million last quarter. The company has acknowledged that the radio advertising market has been challenging. Liggins has called digital initiatives “a critical growth engine” for the company.

It also owns Giant Magazine and the Tom Joyner Morning show, and is part owner of TV One.

Written by Jeff Clabaugh

(Akiit.com) No, I’m not asking if your company is environmentally safe or if your company uses organic products. Nor am I asking if your company recycles plastic and cardboard. I’m asking whether or not your company is money green. Do you actually make money? Is your cash flow flowing?

Believe it or not, I meet minority business owners all the time who have lost sight of this very goal. They start off with the idea of generating revenue, and then they end up just casually floating around.

I see them at conferences and such, and they are just there for the association. Others believe they are making money, but they really aren’t.

Does this describe you? If so, you need to find a way to get back on board the train of success and profitability. Thousands of African American entrepreneurs are generating billions of dollars in business revenue every single year. Unless you are running a non-profit organization, you should be generating a steady cash flow.

Here are some tips on how to keep your company green:

1) Stay focused. If it doesn’t make money for your company, then minimize your time with it. Too often, entrepreneurs waste time doing things that do not contribute to their bottom lines.

2) Stop making excuses. Some businesses can rightfully blame the economy as the reason why they’re not making money. More than likely though, you can’t. The reason why you’re not making money now is the same reason why you weren’t making money when the economy was booming. Whatever that reason is, that’s what you need to address.
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(Akiit.com) “Our elevation must be the result of self –efforts and work of our own hands. No other human power can accomplish it. If we but determine it shall be so, it will be so.”
Martin Delany 1852

Black History month provides an excellent opportunity for us to celebrate and reflect on Black Business History, particularly the accomplishments of past entrepreneurs who recognized the values of self – motivation and self-help.

It is important for our youth, American’s future entrepreneurs, to understand that African Americans have embraced the concept of entrepreneurship for centuries. Their success shaped the course of our nation’s history …and built a proud tradition for them to follow.

We need more than an annual reminder of the struggles and triumphs of our first entrepreneurs. Although confronted with chattel slavery, racism and discrimination, many of our ancestral entrepreneurs generated tremendous wealth in direct sales, banking, insurance and real estate. But, that’s just part of the story…

Hundreds of America’s forgotten black entrepreneurs used intelligence, business skills and personal wealth to revitalize segregated communities into enterprising endeavors that set the stage for future black economic development. One example of a business pioneer who adhered to this philosophy of economic empowerment was Charles Douglass.

Many of the business skills Charles Douglass demonstrated in adulthood were learned as a teenager working as a farm laborer, a carriage driver and eventually part owner in a bicycle shop. Between 1904 and 1940 Charles Douglass created jobs for many people through companies he owned in Macon, Georgia. Credited with helping the city enlarge its business life, he was an early supporter of community economic development and self- help among Blacks. An associate once said of him,” Mr. Douglass spends his money on people not hoard it in banks.”
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