Join the debate - conference on racial hindrances to African American business development - Brief Article

Black Enterprise, May, 2001 by Dorett Smith

Black leaders convene for town hall on business and race

Here's your chance to take part in a discussion about business and race. A town hall meeting during the 2001 Black Enterprise/Bank of America Entrepreneurs Conference, May 15-20, at the Opryland Hotel in Nashville, Tennessee, will bring black leaders together in a forum on the obstacles facing African American businesses.

The issues delve into survival tactics for businesses including access to contracts, financing, and opportunities. Unfortunately, in an ever-increasing competitive environment, black-owned businesses are struggling to keep pace, but the money just isn't flowing.

Here is a telling barometer of the plight of black-owned businesses: The U.S. Census Bureau indicates that while African Americans make up more than 12% of the population, they own only a little more than 3% of the nation's businesses. Another conundrum is that while minority-owned companies are growing at a rate six times faster than that of all firms and represent 12% of U.S. businesses, they receive only 2% of all private-equity investments and 3% of all Small Business Investment Company investments according to The Minority Business Challenge: Democratizing Capital for Emerging Domestic Markets, a report published jointly by the Milken Institute and the Minority Business Development Agency.

"The town hall will explore these issues and begs the question: When it comes to minority businesses, do major corporations and financial institutions continue to apply race to their business decisions?" says Derek T. Dingle, BLACK ENTERPRISE's executive editor.

A panel of high-profile entrepreneurs, politicians, and scholars has been invited to wrestle with the questions surrounding the issue of business and race. They include:

* Robert L. Johnson, chairman and CEO, BET Holdings II Inc., who recently scored two major business coup with the $3.1 billion dollar sale of BET to Viacom and his purchase of DC Air.

* Spike Lee, CEO, Forty Acres & A Mule, who recently teamed with luxury carmaker, Jaguar, to produce an advertising campaign targeted to urban consumers.

* Clarence Avant, the former chairman of Motown Records, who negotiated the joint venture between LaFace Records and Arista over a decade ago.

* Johnnie Cochran Jr., partner, the Cochran Group, who has been exercising his legal muscle in bias suits against corporate giants like Coca-Cola.

* Rep. Charles Rangel (D-N.Y.), a member of the Congressional Black Caucus and staunch representative for the people of Harlem.

* Earl G. Graves Sr., publisher of BE, who continues to champion the cause of majority black-owned (at least 51%) businesses.

Charles Ogletree, Harvard Law School professor and moderator of last year's Entrepreneur's Conference town hall, will return in that role. "Our panel are the movers and shakers in the African American community. We anticipate a spirited discussion that will not only expose the root of this pervasive problem, but also bring to light potential solutions," says Dingle.

For more information or to register for the Entrepreneurs Conference, please call 800-543-6786.

Black Enterprise Unlimited is a division of Earl G. Graves Ltd. dedicated to the creation of products and services designed to meet your business needs. We can be contacted at B.E. Unlimited, 130 Fifth Ave., New York, NY 10011-4399; fax: 212-886-9505; e-mail: BEunlim @blackenterprise.com. Following is the contact information to help you learn more about the programs and products of B.E. Unlimited:

B.E./BANK OF AMERICA ENTREPRENEURS CONFERENCE

For more information on the 2001 Entrepreneurs Conference, May 15-20, at the Opryland Hotel in Nashville, Tennessee, call 800-543-6786.

BLACK ENTERPRISE/PEPSI GOLF & TENNIS CHALLENGE

For information on the 2001 Golf & Tennis Challenge, August 30 to September 3, at the Doral Golf Resort and Spa in Miami, call 800-209-7229.

KIDPRENEURS[TM]

Kidpreneurs is dedicated to the creation of business education products for our children. To learn about our annual Kidpreneurs Konference, call 800-543-6786.

To order Black Enterprise For Teens[TM], a publication focusing on economic and self-empowerment, or KidpreneursNews[TM], a publication designed to foster the entrepreneurial spirit in children, or to register your child in the Kidpreneurs or Teenpreneurs Club, call 877-KID-PREN (877-543-7736).