Posted By: admin Posted On: 2022-10-11
On Sept. 27, 2022, at the State of Black Business Luncheon in Washington, D.C., the National Business League (NBL) and the National Black Chamber of Commerce (NBCC) came together as the nation’s two oldest and largest Black trade associations to announce their formation of the National Alliance for Black Business (NABB). NABB is a nonprofit, nonpartisan, independent federation of Black business organizations and allies mobilized as a unified authority to represent, research, educate, promote and advocate for Black business equity throughout the United States and the Pan-African diaspora. “Booker T. Washington believed that the U.S. economy’s roots in the free market require the full participation of businesses of all sizes and races to achieve its greatest potential. But, as of today, Black businesses in America and throughout the globe continue to remain at the bottom of the economic spectrum. Exclusion is a bad economic policy, and it is time that Black organizations unite to hold the public and private sector accountable by measuring their Black contracting and procurement spending success. This is one of the core platform reasons why the NABB was formed, to produce a Black business equity and inclusion score card that will effectively move the needle,” – said Ken L. Harris, president and CEO of the NBL. Charles H. DeBow III, president and CEO of the NBCC, and Kenneth L. Harris, president and CEO of the NBL, presented the historic announcement in the presence of America’s top Black business professionals, international representatives, and executive leaders from the public and private sectors of the federal government. “The National Business League (1900) and the National Black Chamber of Commerce (1993) represent 151 years of service to Black businesses. We collectively believe that business is a science that produces success. The NBL and NBCC share both historical and platform principles with origins steeped in rich legacies as champions of industry and commerce. The geneses of the National Alliance for Black Business are to unify a collaborative vision and sustain Black communities through entrepreneurship and capitalistic activity, both domestic and abroad. Our definition of success will be measured by those we serve,” said Charles H. DeBow III, president and CEO of the NBCC. The NABB also announced the launch of an unprecedented tool: The Black Business Equity and Inclusion (BBEI) Score Card. This score card will ensure accountability in the public and private sector of the marketplace. According to Fortune, “American companies pledged $50 billion to Black communities. But a new study found that much of the funding has yet to materialize.” Black America is a $1.6 trillion purchasing power in the United States and the Alliance plans to make the entities who successfully provide equitable opportunities for Black businesses public, while also working to help companies that miss the mark in the Black community. The Black Business Equity and Inclusion Score Card will be released at the February 2023 NABB National State of Black Business Conference in Washington, D.C. during Black History Month. “Economic self-sustainability is a collective endeavor and with the creation of the National Alliance for Black Business, it signals a historic and significant change towards collectivism and collaboration to help the Black community reach its full ownership potential. The NABB has embraced some of PowerNomics® foundational strategies to help correct some of the errors and failures of integration. From this point forward, all aspects of life must have an economic platform and agenda towards the full empowerment and liberation of Black people,” said Claud Anderson. The NABB will work with several key partners to help structure the organization and provide relevant research and data while making the proper market linkages to effectively drive the success of Black businesses in both America and around the world.