According to the United States Census Bureau, African Americans are 5 times more likely to fail in business than their white counterparts. Furthermore, of the 27 million businesses in this country, barely 2 million or 7% are owned by African Americans.
There are tons of resources available to business owners and entrepreneurs, but because of these devastating statistics, I've decided to compile a list of the top ten resources that are specifically designed to help African Americans be more successful in business. Here they are:
1) Black Enterprise Magazine - Founded in the 1970's, this monthly magazine continues to be an excellent source of news, insight, and tips pertinent to African American professionals and business owners. Furthermore, they are the only publication that regular reports on the stories and experiences of successful Black business owners. www.BlackEnterprise.com
2) Minority Business Entrepreneur (MBE) Magazine - This bi-monthly publication serves as a nationwide forum for minority and women business owners. They share tons of information on how to secure contracts with major corporations and government agencies. www.MBEmag.com
3) Black Enterprise Entrepreneurs Conference - Produced by Black Enterprise magazine, this conference is a great event for aspiring and established business owners. In addition to being able to network with hundreds of deal makers, this conference also features innovative sessions, high-powered speakers, and an early peek at the products, trends, and services you’ll need to know about to stay ahead of the curve. www.BlackEnterprise.com/ec
4) FraserNet PowerNetworking Conference - Usually held in Atlanta, this conference is produced and hosted by best-selling author and business icon George Fraser. It offers exclusive networking opportunities, a series of educational workshops, and a unique expo where vendors showcase their products and services. This event also usually features high profile speakers such as the likes of Magic Johnson, Les Brown, Iyanla Vanzant, Lisa Nichols, and more. www.FraserNet.com
5) National Black Chamber of Commerce - This non-profit organization is dedicated to economically empowering and sustaining African American communities through entrepreneurship and capitalistic activity within the United States and via interaction with the Black Diaspora. Members receive their quarterly publication, legislative updates, an opportunity to participate in their international trade missions, and access to their annual business convention. www.NationalBCC.org
6) "Black Business Secrets: 500 Tips, Strategies and Resources for the African American Entrepreneur" By Dante Lee - Published by SmileyBooks, I recently wrote this book to give aspiring and established business owners the ultimate know-how and inspiration to be successful in business. In 15 chapters and 336 pages, I literally share 500 secrets on how to build a profitable company. I also interview several Black millionaires and billionaires including Bob Johnson, Farrah Gray, Nadine Thompson, Tom Burrell, and more. www.BlackBusinessSecrets.com
7) The Network Journal - Founded in 1993, this publication is a monthly print and online business magazine for Black professionals and business owners. It is dedicated to educating and empowering its readers by providing news and commentary on issues that affect the growth of business and the advancement of professionals in the workplace. www.TNJ.com
8) National Black Business Council (NBBC) - This organization aims to create and support programs that will close the economic and digital divides between minority and majority businesses. They accomplish this by establishing strategic partnerships with Fortune 1000 companies that provide member businesses with procurement opportunities and access to capital. www.NBBC.org
9) Minority Business Development Agency (MBDA) - A part of the U.S. Department of Commerce, this agency is an entrepreneurially focused organization committed to wealth creation in minority communities. Their mission is to actively promote the growth and competitiveness of large, medium and small minority business enterprises (MBEs). www.MBDA.gov
10) National Minority Franchising Initiative (NMFI) - This online directory includes over 500 franchisors committed to increasing minority representation within their franchise system. It was created in the year 2000 to level the playing field and meet the needs of a largely under-represented market. www.MinorityFranchising.com
- Want more tips, strategies and resources? Purchase Dante Lee's new book "Black Business Secrets" at www.BlackBusinessSecrets.com