By Tee Ferguson Jr, MindVote News
CHARLESTON, SC- Stephen Gilchrist, Chairman of the SC African American Chamber hosted a private round-table meeting with some of SC Minority Business Leaders to discuss the economic impact of the Trump Administration economic policy on Minority Businesses. Mr Bannon explained the importance of economic nationalism, U.S. Trade deficits, immigration, and the adverse effects of limited access to policy decision makers for the minority business community.
Mr. Bannon’s explanations gave some business leaders a better understanding of why economic nationalism is important to the minority community. He states that poor immigration policies flood the minority communities with undocumented low wage workers and reduce the opportunities for U.S. minority worker.
In addition, Bannon discuss the impact of community development banks in improving access to capital for minority businesses. He believes that access to capital is the key to the growth of minority businesses. The failure in the past administration to address funding and capitalization of these banks, especially under the Emergency Economic Stabilization Act in which 780 million was promised. ” Minority Businesses need someone at the table to speak for their interests when these policies are designed”. These programs like Community Development Capital Initiative were designed to encourage small business lending to small businesses, but failed to make it to the Community Development Banks that lend to minorities.
Mr. Bannon also stated that he is committed to developing an organization that will connect minority business leaders to access to capital and investors. “I want to bring you to the table”.
Catherine Templeton also attended the event and spoke with business leaders about her commitment to minority businesses and equal access to government opportunities for the state. Also in attendance was John Lewis, the founder of the National Republican Minority Caucus ,a start-up political organization that represent a holistic minority of race, veterans and women business leaders.
Mr. Gilchrist stated the importance of having the idea and strategy session for minority businesses are critical to having access and not limited to a political party affiliation.
“Black American businesses must focus on their bottom line and not the bottom line of a political party. We must engage all sides and have a seat at the table that represents a true unfiltered voice for our businesses.” Stephen Gilchrist