Black Enterprise Women of Power’s Post

Center Co-Executive Director Brad Evans joined Eric Kearney, CEO of The African American Chamber of Commerce: Greater Cincinnati and Northern Kentucky, on Local 12's morning news this week to talk about a new research analysis to measure the economic impact of Black-owned businesses in Southwest Ohio and Northern Kentucky. As part of this work, Center researchers are conducting a survey of Black business owners in our region. You can participate on economicsresearch.org. Previous research on behalf of the AACC has shown an economic impact of more than $2.1 billion dollars by Black-owned businesses. This new round of research focuses on Southwest Ohio and Northern Kentucky communities, including key areas such as Cincinnati, Covington, Dayton, Florence, Fairfield, Hamilton, Liberty Township, Mason, Middletown, Newport, Sharonville, Springdale and West Chester Township. https://lnkd.in/giEjnPPA #economicdevelopment #blackownedbusiness #cincinnati #EconomicResearch

🌟 CEO Tonita Webb’s Vision on Closing the Wealth Gap 🌟 Verity Credit Union’s CEO, Dr. Tonita Webb, DBA, CCE, CUDE, SPHR, is leading the charge with innovative ideas to close the wealth gap—and the impact could be massive. By addressing this gap, we could see up to an 8% increase in the nation’s GDP! 🙌🏽 “It’s not about race, it’s about power,” says Dr. Webb, who recently earned her Ph.D. in business administration with a focus on this crucial issue. She believes that the economy is not like a pie with limited slices. Instead, there’s enough opportunity for everyone. Read the full article and be part of the solution by empowering communities and embracing the potential for shared prosperity. Huge thanks to Formidable Inc.! 🌱💼 https://lnkd.in/gu46cZuc #ClosingTheWealthGap #EconomicOpportunity #VerityDifference #EmpowerCommunities #EconomicEquity Financial Times Credit Union National Association Formidable Inc. ForbesBLK Black Leaders Worldwide™ The Seattle Times

Today in Crain's Chicago Business, our vice chairman Charles Smith and Glenn Eden, chair of Choose Chicago wrote of a shared-perspective that is as compelling as it is true: Chicago is in the midst of a renaissance. Our world class industries, economy and wealth of meaningful partnerships put us in prime position to cross the finish line every time. What gets us there, however, is a mindset of resilience and a spirit to win. Read the full Op-Ed: https://bit.ly/3zohHDM

💚🖤❤️Travers J. Bell, Jr along with Willie Daniels co-founded first black-owned investment firm, Daniel’s and Bell, on New York Stock Exchange (NYSE) in 1971. The firm started with $175,000 is assets, but with Bell’s prior experience, that amount grew rapidly from series of successful investment decisions. Daniels later ventured off from the firm to enter the restaurant industry. Bell made it his business to give back to the community. His firm specialized in underwriting securities for burgeoning minority-owned businesses and municipal bonds for small Southern towns at a time when few institutional investors were interested in these opportunities. By backing firms, individuals, and towns that had been overlooked by a largely white Wall Street, Bell found a successful market while also spurring development in previously poor and underserved parts of the country. At the time of Bell’s passing in 1988, the firm had grew to the net asset of $15Million. His legacy lives on by his son, Gregory S Bell (writer at Black Enterprise) author of “In the Black: A History of African Americans on Wall Street.” -Investopedia.com #blackexcellence #InvestmentSuccess #BuildingLegacies

I'm always thrilled to see my fellow authors recognized for their achievements, and have long been interested in how the lessons from the transformation of the American West in the pasr may be applied in the future by countries which today share similarities in terrain, (lack of) infrastructure, unique "cattle cultures", indigenous armed ttibes, and massive mineral wealth and agricultural potential! Putting CONTINENTAL RECKONING on my "must-read" list.

🚨Despite the significant contributions of Black-owned businesses to the U.S. economy, there are still substantial barriers that Black entrepreneurs face when it comes to accessing capital, resources, and support. ▶️One of the most striking statistics is that only 1 in 20 Black Americans hold business equity compared to their white counterparts, which means that Black entrepreneurs are less likely to have the resources and financial stability they need to start and grow their businesses. . . #nhe3 #nhe3connector #blackhistorymonth #blackbusinesses #blackownedbusinesses #blackbusinessesmatter #blackbusinessmatters #finanicalliteracy

The Chicago Sun-Times opinion piece by my good friend, MARC MORIAL, President and CEO of the National Urban League, sheds light on the alarming realities of the #racialwealthgap in the United States, particularly concerning Black business owners. Amidst these challenges, the Alliance for Entrepreneurial Equity, (a partnership between the Urban League and Third Way) created and released the 2024 State of Black Business report to highlight the social and economic urgency of advancing equal opportunities for Black and other communities of color. Consider this statistic noted by the Alliance’s Imani Augustus and Madeline Burke: “if Black-owned businesses were proportionate to the population, the United States would see 7 million more jobs and $733 billion more in sales and revenue.” Read more from Morial about the 2024 State of Black Business report:

While about 15% of White Americans hold some business equity, this is true for only about 5% of Black Americans, according to research from the McKinsey & Company Institute for Economic Mobility. Check out a recent article in The Wall Street Journal which featured commentary from my colleague Shelley Stewart III, where he discusses the impact of a new local Black Chamber of Commerce in Albany, New York that has been boosting Black entrepreneurship, and helping to close the wealth gap between Black and white Americans. #EconomicMobility

While about 15% of White Americans hold some business equity, this is true for only about 5% of Black Americans, according to research from the McKinsey & Company Institute for Economic Mobility. Check out a recent article in The Wall Street Journal which featured commentary from my colleague Shelley Stewart III, where he discusses the impact of a new local Black Chamber of Commerce in Albany, New York that has been boosting Black entrepreneurship, and helping to close the wealth gap between Black and white Americans. #EconomicMobility

New York has been boosting Black entrepreneurship, and helping to close the wealth gap with a new local Black Chamber of Commerce in Albany. While about 15% of White Americans hold some business equity, this is true for only about 5% of Black Americans, according to research from the McKinsey & Company Institute for Economic Mobility. Check out a recent article in The Wall Street Journal which featured commentary from my colleague Shelley Stewart III. #EconomicMobility