Recently, the necessity to support the specific black community becomes a hot discussion topic, but Mandy Bowman, a social entrepreneur, and Brooklyn native has been struggling since 2014 to minimize this disparity. He is a social media strategist and Social Entrepreneur who is serving as the CEO and founder of the Official Black Wall Street. This platform is providing support to the businesses started by the black community all over the globe. Started in the year 2015, Official Black Wall Street struggled to strengthen the Black community via ownership and economics. Mandy is serving as the frontrunner of the movement ‘#BuyBlack, with an aim to support black businesses through high-level exposure they deserve. Insider Monkey has shared the report of NMSDC as below:
“According to the National Minority Supplier Development Council or NMSDC, a minority business enterprise is defined as a “business [that] is at least 51% owned by [United States citizens who are Asian, Black, Hispanic, and/or Native American] or, in the case of a publicly owned business, at least 51% of the stock is owned by one or more such individuals.” To put it simply, a black owned company is one which is managed and operated by black or African American owners and shareholders.”
Let’s begin with the list of largest Black Owned Companies in America as reviewed by Insider Monkey. The Anderson-Dubose Company is owned by another black man, Warren E. Anderson. It was established way back in 1991. This company is a distribution and logistics company. It supplies items to McDonald’s and Chipotle fast-food restaurants across the various US States including New York, West Virginia, Pennsylvania, and Ohio. The Anderson Company is responsible to supply, paper products, dairy products, meal toys, groceries, frozen meat, and fish. It has been reported that the total revenue of the company has been $703 million. The company has 543 employees. Another popular company is Thompson Hospitality. The net revenue of this company is $760 million. It is owned by Warren M. Thompson. The total workforce of the company is 6,000 people. The core business of the company is to provide hospitality services across the US. The company was established in 1992 as a restaurant company but later it diversified the business. In the year 2010, Thompson Hospitality was awarded the Black Enterprise Award of Company of the Year. Meanwhile, later in 2017, it was ranked as the #1 Minority-Owned Company by Washington Business Journal.
Still interested in learning more, just read ‘20 Biggest Black-Owned Companies in America’.