Newspapers / Winston-Salem Chronicle (Winston-Salem, N.C.) / Sept. 12, 1974, edition 1 / Page 3
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SEPT. 12, 1974 %^Risk"o!n 1 Business By CHARLES T. BYRD JR. The free entcipme economy 6! . this country is based oh the nUllai.. J i ?Hmny w organize ana manage financial, human and physical resources profitably. However, profit only becomes meaningful to a progressive economy when it enables survival and growth. The entrepreneur istthe incorporator ?of these two basic elements witen applied to the initiation of a new venture. The McGraw-Hill Dictionary of Modern Economics goes a step further in its _ definition of entrepreneur: "A proprietor in a business enterorise who recosnizes orv portunities to introduce a new product, a new productive process or an improved organization. He raises the necessary money, assembles-the factors of production, and organizes the management. The \ entrepreneur may or may not be ^^a capitalist, in that he may or may not provide funds of his own. He does not, however, function simply as a routine manager." The definition itself holds ominous implications for the~ businessman about to attempt such a venture. The best available estimates indicate that approximately 450,000 new business ventures are undertaken every year and approximately 400,000 are ^Business* Showing . Although inflation continues to shackle the American economy, business activity in North Carolina inched up modestly in July? The newly revised and updated y Wachovia?North?Carolina ..Business Index rose 0.4 percent the second consecutive month that the index posted a gain. . The index, a measure of the business activity in the Tarheel state, has remained relatively stable for the past three months after suffering rather considerable declines during the first three months of 1974. The July increase in the index apparently resulted from a _ pi A. ? A n ? signmcani la.a percent increase in checkbook spending. The unexpectedly large consumer spending compensated for the decline of 0.9 percent in total nonagricultural employment during. . the month. The heavy volume of spending in July was undoubtedly Panther Insurant Representatives of the Black Panther, party in Winston-Salem met with the Forsyth County commissioners September 9, _ 1974, to explain the recent lapse in insurance coverage for the free ambulance service operated under a county franchise. Larry Little, head of the Panthers, said the- irLQiirnnrp coverage lapsed because of a misunderstanding of the expiration date"; but that the insurance is now being paid for on a - monthly basis with all insurance under a new company. In response to a Panther request for financial support for the service, the commissioners directed the county staff to meet with Panthers and make a SI' Owning I Shakey I liquidated or fail. In other words, the new entrepreneur faces a 90 per cent ohoncaof failure iirthe? initial odds, he still must face the reality that only 10 per cent of the n?w businesses have a life expectancy in excess of 10 years. The odds, for success are even more devastating when applied to the black entrepreneur. The two most pregrinerit reascsg failure are the lack of experience and incompetence. The first obstacle can be overcome by an effective system of training, experience and counseling. In the case - of the second, a better means of identifying those ~who : should never have been in business in the first place. In the past, blacks have been denied the tool to effectively dealwith the inherent problems of new businesses. As a result blacks have a disproportionate small share of business ownernki? . M.kiAl Ul 1 snip. x iic wiuic-iu-uiavA population ratio is 8.8 to 1. The white-to-black business ownership ratio is 46 to 1, and the business dollar ratio is a depressingly believable 336 to 1. _ . The overwhelming odds that must be combated to gain "our fair share" requires a serious dedication to obtaining the education that will enable blacks to successfully compete with, recognize and overcome the forces working against this goal. Activity Increase bolstered by hefty expenditures by Tarheel vacationers. Automobile sales, down slightly from the previous month on a seasonally adjusted basis, were significantly higher than sales earlier this year. The current car sales volume is almost 11.0 percent higher than . the average volume of sales during the months of February, -March, April~and May. The seasonally adjusted rate of unemployment rose from 3.5 percent to 3.9 percent in North Carolina compared with a national unemployment rate of 5.3 percent. The increase in the unemployment rate resulted in part from the decline in uuuagi iiuiiiuHi employment in -July. It was precipitated by a drop of 1.1 percent.,in textiles jobs and a decline of >.2 percent in government jobs. Other major employment categories showed slight gains or Yemained stable. Explains Is fillip ' 4 a recommendation on how to keep 1 " insurance coverage from lapsing < again. John C. Kiger, chairman of the I board, complimented the Panthers for their ambulance service's record and encouraged them to continue the work-started last year. A local citizen,- Joe Grady, supported the ambulance service being offered by the Panthers and asked the commissioners to give financial support so that the ambulance service could continue. , The free ambulance service can be reached by calling these two numbers: 724-3951 or 7243952. ... ? *?y ? Professor At U.N.C. Is Honored PH A PFI HILL Pi. Allen M:? Feinberg of the UNC School of Medicine at Chapel Hill has been elected a Diplomate of the American Board of Professional Psychology. The Diploma, which was, presented at the Board's annual' convocation in New Orleans on Sept. 1, signifies th^t' Dr. Feinberg "has been fudged bv his peers to have attained the most advanced level of competence in his chosen field of psychological practice." Pr. Feinberg, whose specialty is clinical psychology, is assistant professor of psychiatry. A graduate of Brandeis 1 * ' university, ne received me master of arts degree from the New-School of Social Research and the doctor of philosophy degree from Florida State University. ' He first came to UNC in 1966. Since - .968 he has served as director of . the post-doctoral training program in clinical psychology for the North Carolina Memorial Hospital. Dr. Feinberg is-ra member of the American Psychological Association, North Carolina Psychological Association, Association for (he Advancement of Behavior Therapy and Sigma Xi. Reappraisal liintrant Is Awarded * The Forsyth County commissioners on Sept. 9 'awarded a contract to the Jacobs Co., Inc. of Chicago, 111. to complete the reappraisal of all real property in the county. The contract provides for a smooth transfer of the work from the James R. Laird Co., Inc., which has become unable to complete the project because of financial difficulties. The commissioners terminated the county's contract with Laird and accepted a settlement of more than $253,000 from the United Pacific Insurance Co., which held the performance bond for Laird. The contract with Jacobs totals $680,000 to complete the work started by Laird. With the settlement from the bonding company, no additional county funds will be spent than originally budgeted for the project. Cam Easton, county tax administrator, said Athat a county staff member has reviewed the work done to date by Laird and determined it to be of top quality. In recent weeks, the work of the company has continued under the supervision of the county -tax office and the bonding company. The bonding company has spent in excess of $50,000 to see that the work continued and an orderly transfer was possible, rhis was in addition to the settlement paid to the county. Spend Your Dollar | Where it ?I Counts. I \ * ??, t . . '<* V I 7U I yvJKf- m . -? ????- ' ?>i M i ? ,?????^i ww Vw . . ' _. 1 * ? 1 ? . Winston-Salem Mass Transit (WSMT) recently announced its transportation program for the elderly. The program can be obtained from information of the WSMT. It is Worthwhile to give up your seat for the~elderly if you are riding the bus. , " H ! f <0^k f ?,e KinaTut ll i 1 I 'Samerry II | I | "jfjfl [ ^inagert ) | _ ?-Ooon 8 m.m. to B:30 p.m.? : I* l^ll Our * King Tut" is L E. "Tut" I Tuttle He has a lot full of exceptional used cars See . "Tut" for a royal deal '73FONTIAC '73 TOYOTA I Grand Pn*. Automatic trans- Calica. 4-spwd. radio vmyl top. mission, ati condition, power steering, power brakes Electric , windows. 6 way electric seats. AM- FM radio, vinyl top. M ? r |j'Ae Tra PLYMOUTH 40#v Satellite Sebcing + . automatic V I transmission, power steering. m power brakes. ? 1 TO OPCL GT si^ftK 1 4-speed, radio, blue & white. Sharp ^ $2295 *6?CHRYSUR 2 Town & Country wagon, ^ M ? automatic, air conditioned^ iug 70 MAVERICK gage rack. AM-FM. 8-track. ' J 2-door -automatic transmission. ^ V radio, dark green | *79 2 *1695 '73 CHRYSLER " ~ Station Wagon, auto. air con- V mmm ditioned.,luggage rack. AM-FM. m '73 CHKVELU 8 track - 1 Automatic, radio, air cond. C M >2595 1 71 AUSTIN J MSB GT American" 4-door. automatic fl , _ V" transmission, radio : 1JJpa^??_? 4-speed radio. *3295 *1095 I 74 NOVA | ytM Automatic, air conditioned radio. power steering. 4.(XX) miles Like ^ Customized See this One new *995 *3495 '73 VOLKSWAGEN ] 72 AUPI-AUTO 4-speed radio 12 000 mil??i 1 a ar sedan Auto air cond . radio white with black interior Like A Nice car new 5 *3495 *2295 j '69 VOLKSWAGEN ] Square back automatic, radio Convertible. 4 speed radio *1295 *2895 j .Com* In to Sh th? 1974 Damos Now on Sal*. V' Sm otmi of pur tmtmwmmm . . ; i Md bobbin* Cvtylt McCKnton. Jr. 1 Dm McBrtd* Rogwlaram fotNwworUwmlCm Frits Mints BUI IUm i Adams Volvo j VOLVO HONDA SAAB 1 r~! ? ^2^^i^Marshal^t^^23^60^^^22-340^ -J"m _ *? ? . ? Vr^f .-- ' 1 '
Winston-Salem Chronicle (Winston-Salem, N.C.)
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Sept. 12, 1974, edition 1
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