ABOUT US

Who We Are

The Black Economic Council (BEC) is a national 501(c)(3) non-profit organization established to provide Black Americans an economic platform that facilitates business formation, job creation, access to capital, financial fitness, and equal opportunity for employment and promotion in the workforce.

Our Mission

The mission of the Black Economic Council (BEC) is to promote the self-sufficiency of Black American communities through structured economic development.

Focused Areas

The BEC serves as an advocate for clarifying policies and practices, building economic infrastructures and streamlining access to both intellectual and fiscal capital.

• Business Formation and Job Creation
  Historically, Black-owned businesses have accounted for many jobs in LMI communities. On a per capita basis, Blacks own fewer businesses than any other major ethnic group. Statistics also suggest that there are systematic barriers that have created huge differences between the revenues of the Black-owned and other minority and non-minority owned businesses. The BEC uses existing alliances with major corporations and government entities to help Black and other minority businesses grow and increase the job pool within LMI communities.

• Access to Capital Resources
  The most critical element to the success of any business, access to capital, has been unavailable for Black-owned businesses in dollar amounts that could make a difference between success and failure. Although all business owners report difficulties with capital adequacy, Black businesses have suffered double jeopardy in terms of operating closer to the edge of financial insolvency and having fewer options to recover from business down cycles. The BEC aggressively seeks sources of capital for Black and other minority owned businesses, especially those located in LMI census tracts and focused on hiring residents from these communities.

• Financial Fitness
  In order to function in any society, a basic understanding of economics is needed, which includes investing and saving money, understanding credit, understanding consumer rights, purchasing a home, and if applicable, starting and running a business. Next to capital, this knowledge is the single most important element necessary for growth and prosperity.  The BEC partners with financial professionals nationwide to deliver a comprehensive financial fitness agenda with leads to further strengthening of the economic base in Black and other minority communities