Black business leaders in Arkansas introduced a new organization Thursday to advance business opportunities for Black-owned companies in the state.
The Black Community Development and Chamber of Commerce of Arkansas is the first Black-focused business organization founded to promote ownership, job development and help attract capital investment statewide.
There are more than 23,000 Black businesses in Arkansas that need technical and funding assistance, officials said in starting the effort. The Arkansas group will draw support and expertise from the National Black Chamber of Commerce, which was founded in 1993 and has chapters in 40 states.
The organization will help Black business owners leverage national and local funding sources to build their businesses and enhance economic equality, according to Larry Ivory, chairman of the national group. "We've got a long way to go to get parity," Ivory said Thursday.
The new organization, based in Fort Smith, also is planning offices in El Dorado, Little Rock, Northwest Arkansas, Pine Bluff, Texarkana and Hot Springs with goals to expand to the Delta region. The group is establishing relationships with multiple state agencies, principally the eight divisions in the Arkansas Economic Development Commission, to provide training, workshops and networking opportunities for Black business owners.
"We want to work jointly together with groups in the state to hopefully bring about change," said Wardell Henley, founder and chief executive officer of the Arkansas group.
Kendra Pruitt, chief of staff for Little Rock Mayor Frank Scott, and Esperanza Massana Crane, director of minority- and women-owned businesses enterprise for the state, were on hand for the announcement. "We want to provide support and help in any way we can," Crane said Thursday.
One of the organization's immediate goals is to help Arkansas' businesses tap into federal contracting and funding in infrastructure, housing and alternative energy, Ivory said.
"Money is sitting there waiting for people to tap into," he added. "We're not participating on the same level our contributions are being made."