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The Stellantis-NBL National Black Supplier Development Program will support the development of more than 2.9 million Black businesses around the country and internationally for future opportunities within the federal government, and public and private sectors.
About 95% of Black-owned businesses today are mainly solopreneurs — home-based, one-employee enterprises — or are considered micro-businesses. Of these, fewer than 3% are minority or agency certified, and most do not have the capacity, scope and scale to meet the demands of future contracting and procurement opportunities with Fortune 500 companies and the federal government.
“As national trade associations pivot towards a post-COVID-19 economy, the National Business League is launching this critical program to achieve economic equity and justice for Black communities and millions of Black businesses, fulfilling the organization’s 121-year-old legacy, founded by Booker T. Washington in 1900,” said Dr. Kenneth Harris, president and CEO, NBL. “It is vital that corporate leaders take decisive and measurable steps outside of empty promises and platitudes to bring about commerce-driven activity in Black communities that have been historically denied access to economic opportunities for far too long.”
The online virtual procurement and contracting marketplace is expected to realize 20-30% of the untapped business potential of Black suppliers. The goal is to create sustainable Black businesses that will impact the local and global economies, creating jobs through entrepreneurship and growing the number of Black businesses of all sizes.