Page 8, Portland Observer, October 1, 1986
W o o d ro w W ilson. W ilson Financial Service
Photo by Richard J B row n
W o o d ro w W ilson
W. Wilson Financial Service
W Wilson Financial Service has been in operation for almost seven years
and specializes in low risk government securities or investments that are
backed by the U S Government.
I counsel individuals on investments such as Treasury Bills and Notes,
Jennie Mae Certificates, IRA's, and Treasury Bonds," said Wilson. Wilson
is registered with the Security Exchange Commissron (SEC) in Washington,
D C Prior to starting his own financial service, he worked 16 years as a
financial analyst and loan examiner with the Department of Urban Develop
merit
A unique feature of W Wilson Financial Service is that it does not set
a minimum amount of money for investment "This is why I say anyone
with an income, who is serious about managing their money, can get a
financial plan started, " Wilson said W Wilson Financial Service is located
at 421 S W 5th in downtown Portland
Black Business Needs Boost
Historically, Blacks were active in numerous businesses until the massive
wave of Jim Crow practices drove them out More recently, a new breed
of Black entrepreneurs has emerged, making itself felt in industries as
varied as personal care and communications
But this new surge of black business activity has been overstated
Anyone who |ust scans headlines could be seriously misled into thinking
the Black business community is booming. In fact, one headline said just
that: "Black Biz Boom ."
The story reported on a Census Bureau report showing a 47 percent
jump in Black owned businesses between 1977 and 1982 The Bureau
found the numbers of Black owned businesses increased to about 340.000,
and gross receipts to over $12 billion.
But if we look behind the surface of that apparent "b oo m ," the picture
is one of slow growth or absolute erosion of gains made in the recent past.
For one thing, only about one in ten Black owned business had any
paid employees More are mom and pop stores, one man cab operations,
and the like Black owned businesses provide jobs for only about 165,000
in a Black work force of 11 million,
Further, despite the growth in the numbers of Black owned business
their average annual receipts fell. According to a study by the Joint Center
for Political Studies, receipts declined by about a third after adjusting
tor inflation
The Joint Center s analysis of the Census report also shows that while
Black businesses with paid employees grew by over 60 percent in the
mid-1970s, the number of such firms declined by more than three percent
between 1977 and 1982.
Overall business employment grew by 15 percent, but for Black owned
firms, it was only one percent
The growth in the absolute number of new firms hides their fragility
Two thirds of the new Black owned business, for example, had gross
receipts of less than $5 000
The one sign of Black business health comes from larger companies,
which did increase their receipts, grew in number, and hired more workers
Their accomplishments in a hostile economic environment demonstrate
Black business savvy and should be applauded Certainly, many of their
peers running majority companies in that difficult period must envy the
results they were able to achieve
But the facts must be faced such firms are a small percentage of total
Black businesses, and logic suggests they can’t carry the whole load of
Black business progress Their numbers have to increase by helping mid
sized firms grow larger and small ones expand faster
The Black community and the nation have accepted the importance of
a healthy Black business sector to our national economy, both as a source
of economic advancement and *obs for Black citizens, and as another way
to become part of the mainstream
Unfortunately, that national goal is being sabotaged by the withdrawal
of an active federal role in encouraging the growth of Black businesses
Federal minority business efforts have dried up
Worse still is the Administration's opposition to the minority set aside
programs that guarantee Black contractors a piece of the action, helping
them gain a toehold in fields white firms had locked up when Blacks were
excluded from competing for public contracts
A healthy Black business environment is too important for Americans
and their media to take much comfort from Census figures that a super
ficial health in what is actually a troubled business sector.
S peedier S m all Business Loan
P rogram Im p le m e n te d N a tio n w id e
Lenders in all regions of the country now are participating in a special
U S Small Business Administration ISBAI loan program which trims
paperwork and speeds loan decisions to small firms
Under the Agency's Preferred Lenders Program (PLP), participating
lenders handle all paperwork involved in SBA guaranteed loans and also
service the loans.
Fifteen lenders in SBA’s Denver and Seattle regions were approved to
participate in the program this week by SBA Administrator James
C. Sanders
"B y streamlining and simplifying financial assistance to the small
business community through the PLP, borrowers are finding significant
improvements in timely, effective and prudent services." said Sanders
"W ith the addition of these lending institutions in the Western United
States, small businesses throughout the country will now find improved
service and reduced paperwork At the same time, this will reduce the
involvement of Agency personnel in the delivery o, financial services,"
he added
The PLP program was started on a pilot basis in 1983 in three regions
of the country
the New York New Jersey area, the Midwest, and the
West Coast
with additional regions added over the past three years
To date. 98 participating lenders have approved 820 loans with a total
value of $228 6 million
The newest participating lenders in Washington are the Washington
Trust Bank, Spokane; the Rainier National Bank, Seattle; and the Seattle
First National Bank
Congratulations to the
Portland Observer on
its M in o rity Business
W eek edition
We urge all minority businesses to
contact Pacific Power to determine
Hampton University
President Acquires
Midwestern Pepsi-Cola
Bottling Company
Pepsi Cola USA today announced that Dr William R Harvey, president
of the prestigious Hampton University of Hampton, Virginia, had acquired
Pepsi's Houghton, Michigan bottling franchise The purchase makes Dr.
Harvey the first black individual to own 100% of any major franchise soft
drink bottling operation.
Terms of the deal were not disclosed.
In announcing the sale, Pepsi Cola USA president and chief executive
officer Roger Enrico said "W e are delighted to welcome Dr. Harvey to the
Pepsi family His acquisition of our Houghton franchise is a significant
advancement for minority businessmen nationwide, and is a clear message
that soft drink bottling industry is open to all Americans
Enrico, who is a trustee of Hampton University, also said: "W e know Dr
Harvey will bring to this business the same drive and managerial talents that
have proven so successful for him at Hampton University.
" I am indeed honored to become an active member of the Pepsi
Generation'," said Harvey "I look forward to working with the Pepsi Cola
USA parent company, and I intend to be a hands on manager of my new
enterprise."
Dr Harvey's business experience ranges well beyond his capacity as
president of a university of some 4,200 students in 26 fields of under
graduate study and 11 areas of graduate work He is nationally known for
his fund raising abilities on behalf of the university, which was faced with
massive deficit and only a $29 million endowment in 1978, Dr Ht#vey's
first year as president By 1985, he had shown operating surpluses every
year, and had increased the school's endowment to more than $65 million.
And, according to many sources, that increase was matched by a similar
rise in the school’s academic standards
Prior to becoming president of Hampton University, Dr. Harvey has held
such posts as Administrative Vice President of Tuskegee University,
Executive Assistant to the President of Fisk University, and Assistant for
Governmental Affairs to the Dean at Harvard University. He is a graduate
of Talladega College and received his doctorate in College Administration
from Harvard University in 1972 He has received numerous academic
awards and fellowships, and serves on a number of boards, including the
University of Virginia, the National Merit Scholarship Corporation, the
Pepsi Cola President's Advisory Board, among many others.
Located in Michigan's Upper Peninsula, the Houghton bottling franchise
was formerly a part of Pepsi’s company owned bottling system, the Pepsi
Cola Bottling Group Pepsi acquired the operation in December 1984, and
last year increased sales in the territory more than 20% The Houghton
operation holds the franchise rights for the following Pepsi Cola products:
Pepsi Cola, Diet Pepsi, Pepsi Free, Mountain Dew, and Slice.
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