 By Wellington E. Webb
After spending 31 years in the public arena – including Denver’s mayor, Colorado legislator, state department director and federal appointee – some people wonder why I would want to serve as the President of the Colorado Black Chamber of Commerce in addition to running my own business.
Nationally, African American-owned firms rose 45 percent to 1.2 million between 1997 and 2002, according to the U.S. Census. While Colorado did fairly well with a 43 percent increase in black-owned business in that same time period, I know we can do better.
Only 7,066, or 1.5 percent, of Colorado’s 46,352 minority-owned firms in 2002 were led by African Americans.
Statewide estimates for 2007 place all minority business growth to 49,000 to 55,000 with a projected $10 billion to $12 billion impact on the state’s economy. The employees those businesses hired jumped to an estimated 70,000 to 85,000 this year from 66,207 in 2002.
State statistics also show payroll for minority businesses increased to $1.6 billion in 2002 from $1.2 billion in 1997 – so the impact statewide can not be ignored.
My challenge as leader of the Colorado Black Chamber is to make sure African Americans are better represented among new entrepreneurs, and help address the obstacles minority and women business owners say they face.
In a recent state survey, 630 responses from black, Hispanic, Asian, American Indian, Alaskan Native, and women business owners said a majority start companies with their own capital and with little or no banking institute support. The majority of the new business owners said they have no prior experience owning or operating a business and are in dire need of help marketing their business, learning how to get government and private sector contracts, mentoring, legal services and access to capital.
The Colorado Black Chamber of Commerce has been working to address these concerns.
In January, the Chamber began its first leadership program, called Chamber Connect. Among the 30 participants, 15 own their own business and 15 are part of corporate America. These business owners have been meeting regularly including discussions with Gov. Bill Ritter, state legislators and Mayor John Hickenlooper to learn more about doing work with city and state government.
When this class graduates in September, it is my hope they will share their knowledge with other minority business owners. I’m confident that knowledge will continue to grow and flow into the community with each Chamber Connect class.
The Chamber also recognizes the overwhelming importance of educating our youth and this is the first year we awarded a four-year college scholarship to a minority student. We will continue to address the need for more educational opportunities for all students.
In addition, our Public Policy and Research Advocacy group is working with the Denver Metro Chamber of Commerce, Denver Visitors Bureau and Downtown Denver Partnership to forge stronger relationships in addressing numerous issues that face the business community.
During my political career, I fought to guarantee access – especially to those who found closed doors based on race or gender – but not to guarantee outcome. This journey continues in the private sector with the hopes more minority and women entrepreneurs blaze new paths statewide to be part of building a stronger Colorado economy.
Editor’s note: Wellington E. Webb is the president of the Colorado Black Chamber of Commerce and former mayor of Denver from 1991 to 2003.
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