Black Entrepreneurs Archives

SAN BERNARDINO, Calif. /ScoopCloud/ -- The Inland Empire Center for Entrepreneurship (IECE) at California State University, San Bernardino (CSUSB) has released the first-ever State of Entrepreneurship Minority Report. Among the key findings is 35% of inland businesses are owned by minority entrepreneurs with Hispanic owners representing the largest portion at 16%.

The report shows minority entrepreneurship is thriving in the Inland Empire region, growing to more than 50% and outpacing both California at 19% and the U.S. at 35% in 2021. African-American and Hispanic-owned firms are the primary drivers of minority entrepreneurship and have continued to grow in spite of the pandemic.

"Minority entrepreneurship is an incredibly positive indicator for the Inland Empire," said Mike Stull, Director of the Inland Empire Center for Entrepreneurship. "Overall, the rate of new entrepreneurs outpaces the national level; but lags when it comes to new ventures being created by individuals out of choice rather than necessity."

Stull continued "These necessity ventures tend to be those in which innovation and scalability are lacking and often do not have larger economic impacts such as extensive job creation and large multiplier effects throughout the supply chain."

As a result of evaluating the data, IECE has implemented a number of new programs to provide greater support to minority entrepreneurs such as Financial Fitness Bootcamp: 4-Day Small Business Training, Catapult Business Growth Network & Peer Mentoring, and the Procurement Center. Also in development are multiple Entrepreneurial Resource Centers (ERC), Microloan and/or seed grant programs, and a Food Entrepreneurship HUB.

The State of Entrepreneurship Minority Report analyzed monthly data from 2017 to 2021, from the Current Population Survey (CPS) by the U.S. Census Bureau and the U.S Bureau of Labor Statistics. For a copy of the full report visit https://entre.csusb.edu/content/SOER.

About CSUSB's Inland Empire Center for Entrepreneurship:

The Inland Empire Center for Entrepreneurship (IECE) at Cal State San Bernardino is the largest and most experienced organization in the Inland Empire dedicated to supporting small business and entrepreneurship on campus for the Jack H. Brown College of Business & Public Administration's School of Entrepreneurship, and within the community throughout the Inland Southern California region. Established in 1999, the IECE has served nearly 150,000 individuals and business owners with comprehensive business counseling, mentoring, innovative training programs and engaging events.

These services have resulted in the creation and retention of nearly 40,000 jobs and an economic impact of nearly $400 million. The center is committed to diversity, equity and inclusion and strives to continue to expand its reach across all business owners to support them through the post-pandemic repopulation and beyond.

The top tier segments of the IECE include the Women's Business Centers (IEWBC.org) (CVWBC.org), the Small Business Development Centers (IESBDC) (IEsmallbusiness.com) and the State Trade Expansion Program (STEP) (californiaexport.org) and the Spirit of the Entrepreneur Awards (spiritawardsie.com.

To learn more about IECE and all of the programs available visit, https://entre.csusb.edu/.

The Inland Empire Center for Entrepreneurship (IECE) at California State University, San Bernardino (CSUSB) has released the first-ever State of Entrepreneurship Minority Report. Among the key findings is 35% of inland businesses are owned by minority entrepreneurs with Hispanic owners representing the largest portion at 16%.

Related link: https://entre.csusb.edu/

BEACHWOOD, Ohio /ScoopCloud/ -- Look out! The International Black Business Museum is here. The IBBM is the first and only museum in the world of its type, a repository that will enshrine the monumental accomplishments of Black entrepreneurs and inventors in the United States and other countries of the world.

It will also honor black-owned banks and ancillary organizations which helped to develop principles of self-help in the Black community.

According to Dr. Bessie House-Soremekun, the President and Founder, "The establishment of the International Black Business Museum is an idea whose time has come. This pivotal institution will support black business creation and expansion. It will also enhance the development of an entrepreneurial ethos which emphasizes ways in which the Black Community can work collectively to enhance the attainment of higher levels of economic independence and more economic resources."

The IBBM has a very distinguished International Board of Directors and an Advisory Board. The IBBM has received endorsements from The Association for African American Museums (AAAM), The Carver Federal Savings Bank, and the National Black Chamber of Commerce.

The IBBM - http://www.theibbm.org/ - is currently choosing a final site among several cities to host this groundbreaking facility. Museum administrators are planning a state-of-the art multilevel building with exhibit areas, auditoriums, along with additional galleries and mixed-use spaces. The museum's official opening is scheduled to take place in the future, although it is presently holding virtual activities and creating several virtual exhibits.

Despite great odds against them historically, Black entrepreneurs and inventors have achieved mightily. Garrett Morgan, entrepreneur and inventor of the common traffic signal, gas mask, and hair straightening products, and Lewis Latimer, who drafted patents for the telephone and the incandescent light bulb, are cases in point. These trail blazers and their ancestors of color persevered through difficult obstacles, including systemic racial oppression and lack of adequate funding.

The International Black Business Museum seeks to immortalize their achievements through its mission to preserve the history and honor the contributions of Black entrepreneurs and inventors in the United States and other countries of the world. Black business is the world's business!

Black Americans control around $1.3 trillion of America's $22 trillion economy - the world's largest economic system - and Africa is home to one of the globe's richest black entrepreneurs, Aliko Dangote of Nigeria, whose estimated worth is $8.3 billion. As the U.S. and other countries strive to attain more just and equitable societies, it is and will remain the mission of the International Black Business Museum to educate and enlighten the global community about the amazing achievements of this important group.

Learn more at: http://theibbm.org/

MEDIA ONLY CONTACTS:
Dr. Bessie House-Soremekun
President and Founder, IBBM
(216) 645-3385
Dr.House@theibbm.org

James L. Patterson
Director of Program Operations, IBBM
(317) 354-3246
jpatterson@theibbm.org

*LOGO link for media: https://www.Send2Press.com/300dpi/20-1210s2p-ibbm-logo-300dpi.jpg

Look out! The International Black Business Museum is here. The IBBM is the first and only museum in the world of its type, a repository that will enshrine the monumental accomplishments of Black entrepreneurs and inventors in the United States and other countries of the world.

Related link: http://www.theibbm.org/

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Tag Archives: Black Entrepreneurs

Inland Empire Center for Entrepreneurship Releases First-Ever State of Entrepreneurship Minority Report

International Black Business Museum Created to Honor the Genius of Black Entrepreneurs and Inventors