One of the cornerstones of wealth building is entrepreneurship. In boosting the value of a
business, you create a powerful asset. What role should you play in developing viable black
enterprises? One way to support black-owned businesses is as a consumer. The second
method is by becoming an investor in a thriving entity.
Here are the steps you can take to
support black businesses:
Seek out black-owned businesses
One way that you can contribute more dollars to the African American community is through the
patronage of black-owned businesses. In addition to providing quality products and services,
most black institutions have a positive impact on our community. For one, black-owned busi-nesses
hire African Americans as well as provide donations and in-kind services to black
nonprofit organizations and charities. They also serve as valuable models for our youth.
Become an advocate in your company
Within your company, try to identify contracting opportunities for black firms and make rec-ommendations.
Find out your company’s procurement policies, especially as it relates to
programs designed to increase the number of minority vendors.
Become an investor
A more direct means of contributing to such companies is through investment. For one, you can
buy shares in one of the publicly held, black-controlled businesses listed on the BE Black Stock
Index. Secondly, diversify your mutual fund portfolio by using one of the companies listed on
the BE Black Mutual Fund Index. As with any other investment, fully dissect the company’s cor-porate
performance over time and the prospects for growth. If the company is not a public entity,
find out whether there is an opportunity to make a direct investment through a private placement
or venture firm. In such a scenario, you can maximize and safeguard your investment by gain-ing
a board position in the company. To get such a position, of course, depends on how much
money you pour into the business.
Consider becoming an entrepreneur
One of the best ways you can contribute to the growth and development of black-owned busi-nesses
is through entrepreneurship. As an entrepreneur, it will be key to identify sources of
investment capital; keep track of your company’s cash flow through financial statements such
as your balance sheet and income statement; and develop strategic alliances to grow your busi-ness.
To Support The Creation And Growth Of Profitable,
PRINCIPLE NO. 8
B.E. BLACK STOCK INDEX
Exchange:
Company Symbol
American Shared Hospital Services AMEX: AMS
Ault Inc. Nasdaq: AULT
Broadway Financial Corp. Nasdaq: BYFC
Carver Bancorp AMEX: CNY
Citizens Bancshares OTC-BB: CZBS.OB
Granite Broadcasting Corp Nasdaq: GBTVK
Independent Federal Saving Bank Nasdaq: IFSB
OAO Technology Solutions Inc. Nasdaq: OAOT
Radio One Inc. Nasdaq: ROIA
United American Healthcare Nasdaq: UAHC
B.E. BLACK MUTUAL FUNDS INDEX
Company Ticker
Ariel ARGFX
Ariel Appreciation CAAPX
Ariel Premier Bond Instl APBFX
Ariel Premier Growth Inv APGFX
Brown Cap Mgmt Balanced Instl BCBIX
Brown Cap Mgmt Equity Instl BCEIX
Brown Cap Mgmt Small Co Instl BCSIX
Edgar Lomax Value LOMAX
Kenwood Growth & Inc KNWDX
Lou Holland Growth LHGFX
MDL Board Market F/I MBMFX
Profit Value PVALX
30
Declaration of Financial Empowerment
O
steps

resources
Websites:
www.blackenterprise.com
www.blackstocks.com
www.bwnonline.com (Black Wealth Network)
www.pro-net.sba.gov (Procurement Marketing and
Access Network)
www.nbia.org (National Business Incubation
Association)
Books:
Venture Capital Handbook: An Entrepreneur's Guide
to Raising Venture Capital
by David Gladstone & Laura Gladstone
Where To Go When The Bank Says No: Alternatives
For Financing Your Business by David R. Evanson
Black Business and Economic Power
edited by Toyin Falola and Alusine Jalloh
Black Enterprise Book Series/Conferences:
Against All Odds: Ten Entrepreneurs Who Followed
Their Hearts and Found Success by Wendy Harris
Guide To Starting Your Own Business
by Wendy (Beech) Harris
Guide To Technology For Entrepreneurs
by Bernadette Williams
How To Succeed In Business Without Being White
by Earl G. Graves
In The Black: A History of African Americans On
Wall Street by Gregory S. Bell
Lessons From The Top: Success Stories From
America’s Leading Blacks CEOs by Derek T. Dingle
Take A Lesson: Today’s Black Achievers on How They
Made It & What They Learned Along The Way
by Caroline V. Clarke
The Black Enterprise/General Motors Entrepreneurs
Conference, 800-543-6786
Black Enterprise/AXA Advisors Ski Challenge,
800-209-7229
The Black Enterprise/Pepsi Golf and Tennis Challenge,
800-209-7229
Organizations:
Association of Small Business Development Centers,
703-271-8700; www.asbdc-us.org
International Franchise Association (Minorities In
Franchising Program),
202-628-8000; www.franchise.org
Minority Business Development Agency,
888-324-1551; www.mbda.gov
National Black Chamber of Commerce,
202-466-6888; www.nationalbcc.org
National Association of Investment Companies,
202-289-4336; www.naicvc.com
Small Business Administration,
202-347-2147; www.sba.gov
PRINCIPLE no.8
SEARCHING FOR PRIVATE EQUITY
Start by tapping your network. Ask for leads from bankers, accountants, attorneys, and others with whom
you’ve developed relationships. To get a head start, contact those firms that are known for backing minority
enterprises. The following is a list of the top 10: the BE 100S PRIVATE EQUITY firms.
Fairview Capital Partners Inc.
10 Stanford Dr.
Farmington, CT 06032
860-674-8066
TSG Capital Group L.L.C.
177 Broad St.
Stamford, CT 06901
203-541-1500
SYNCOM
8401 Colesville Rd., Suite 300
Silver Spring, MD 20910
301-608-3203
Smith Wiley & Co.
242 Trumbull Street, 8th Fl
Hartford, CT 06103
860-548-2513
Quetzal/JPMorgan Partners, L.P.
1221 Avenue of the Americas, 40th Fl
New York, NY 10020
212-899-3536
Provender Capital Group L.L.C.
17 State Street
New York, NY 10004
212-271-8888
Opportunity Capital Partners
2201 Walnut Ave., Suite 210
Freemont, CA 94538
510-795-7000
ICV Capital Partners L.L.C.
666 Third Ave., 29th Fl
New York, NY 10017
212-455-9600
Black Enterprise/Greenwich Street Management Co.
850 Third Ave., 12th Fl
New York, NY 10004
212-559-5772
Ascend Venture Group L.L.C.
1500 Broadway, 14th Fl
New York, NY 10036
212-324-2222
Competitive Black-owned Enterprises
31