U.S. Black Chambers Launches Initiative For Black Male Entrepreneurs
Black businessmen are taking matters into their own hands and addressing discrimination head on and through organized means.
Recently the U.S. Black Chambers launched an initiative, the Young Black Male Entrepreneur Institute, to mentor the next generation of young Black male entrepreneurs, with a goal of closing the economic gap and offering positive role models in the community.
The USBC, an association of over 115 independent black chambers of commerce and small business associations nationwide, launched the pilot program last month in Washington, D.C. It plans to expand the program nationwide.
The institute offers a specialized curriculum, based on the nation’s top business schools. It also utilizes real-life practical experiences of businesspeople, who serve as mentors and advisers.
“The program is divided into three phases following recruitment of the participants. Each phase consists of six-week sections that cover topics such as strategic marketing, business-plan development and refinement, and individualized business coaching from seasoned business owners,” reports The Root.
The organization feels this is necessary as Black-owned businesses are one of the fastest-growing segments of the American economy. In fact, from 2002 to 2007 they took in $137.5 billion, according to U.S. census data. By 2013, there were some 2.3 million Black entrepreneurs who employed nearly one million workers.