Ron Busby, Sr. brings business management skills as well as a lifetime of community development experience to the organization. Mr. Busby is a former successful business owner himself, and he has been recognized as one of the nation’s best CEOs. Ron grew his first company, USA Superclean, from $150,000 annualized revenue, to over $15 million in only 10 years. In addition to being an entrepreneur, Ron was a former Chamber leader serving as the Chairman of the Board and then later became president of the Greater Phoenix Black Chamber of Commerce.Currently, Ron serves on the Pfizer Small Business Council, National Newspapers Publishers Association Foundation Board of Directors, and White House African American Leadership Council. He has also formerly served on the U.S. Small Business Administration’s (SBA) Council on Underserved Communities.Ron Busby, Sr. joins 'Forbes Talks' to discuss the process of building the U.S. Black Chamber of Business and the influence of Black media in news.0:00 Introduction2:35 Black Broadcasters And Media During The Pandemic3:56 Ron On The Current Political Climate4:40 How Has The Economic Energy Changed For Black Businesses?7:02 Entering The AI Era8:19 The Attempt To Erase Legacy And African American Stories From Media

Kendra Bracken-Ferguson joins Forbes Reporter Rosemarie Miller for this episode of New Money where they discuss strategies for fundraising, the leap into entrepreneurship, and the pros and cons of starting a business with co-founders.

This Black Family Secretly Rules The World

Randy Hazelton learned a simple maxim in elementary school: Do your homework. Unfortunately, he had to go bankrupt before he embraced it.Hazelton, the CEO of H&H Hospitality, a firm that operates concession stands in major U.S. airports, shares his story in “Journey to ForbesBLK Summit,” an editorial series that leads up to the inaugural ForbesBLK event on November 5-6. ForbesBLK will amplify entrepreneurs like Hazelton in Atlanta who take distinctive approaches to business, thought leadership and problem-solving.Founded in 2007, H&H co-owns over 20 franchises with nearly 100 employees. He estimates that the company, including joint venture partnerships, will reach $50 million of revenue this year and rise to $100 million in 2025. H&H has thrived with the help of federal government contracting guidelines under the Airport Concession Disadvantaged Business Enterprise Act, known as ACDBE. The program favors minority and women businesses for contracts inside federally funded airports.“It changed my life,” says Hazelton, 43. He calls the program a “springboard” for smaller companies looking to expand in restaurant franchising.

Black Ambition founder Pharrell Williams wants to see more Black ideas funded with the belief investing in culture will reap big returns. “Where we are is where the profit is,” he says. “There’s no denying that. We influence it.”

With interest rates at a 22-year high, Michael Pugh says Black business owners crunched for cash should look to community-based financial institutions for help.“Learn more about them; we have a very different scope [regarding loan arrangements],” Pugh, the CEO of New York-based Carver Federal Savings Bank, tells Forbes of community banks. “We have to make sure we extend our arms and get out there and tell people what they need to know to start achieving that generational wealth.”August is National Black Business Month, and ForbesBLK is highlighting the theme with special discussions about sustaining and expanding Black firms. Based in Harlem, Carver is one of the largest Black-run financial institutions in the U.S., celebrating its 75th anniversary in 2023. The bank is named after George Washington Carver and trades on the NASDAQ. Pugh was named CEO in 2012.Black businesses generated $206 billion in annual revenue and supported 3.56 million U.S. jobs in the last decade, according to the non-profit Brookings Institution. However, though Black people comprise 14.7% of the U.S. population, the community represents 12.4% of sole proprietorship and only 2.4% of employer businesses. Brookings said the stats show “disparities” that hold back Black entrepreneurs and “restrict economic opportunities for entire communities, which in turn impacts local prosperity.” Brookings also notes that access to sufficient capital remains a lingering issue for Black-owned businesses. That causes entrepreneurs to rely on personal funds and credit cards to finance operations.