Be 100s Forward Momentum

One Word Describes The Performance Of The Be 100s Last Year: Uneven. Some Advanced. Others Floundered. All, However, Sought The Best Formula For Long-term Sustainability

- Jeffrey McKinney

IN MANY WAYS, 2017 PROVED TO BE BOTH TRIUMPHANT AND BUMPY FOR THE NATION’S LARGEST BLACK-OWNED BUSINESSES.

Several companies on this year’s be 100s had robust revenue growth. Others struggled with increased competition, customer retention, and setting themselves apart from larger mainstream rivals.

Most still possess resourcefulness, creativity, and other resilient qualities. As such, they have developed the rare entrepreneurial drive to succeed in an uncertain economic climate.

There were significant shifts, however: Coca-Cola Beverages Florida L.L.C. became a new $1 billion-revenue addition to the top 100 rankings. And on the be banks list, OneUnited Bank edged out Carver Federal Savings as the nation’s largest African American banking institution.

The top 100 includes manufacturers and tech companies that are suppliers for some of the world’s largest companies. Black firms have been making tremendous strides to innovate due to the changing climate of globalization and technology, says Kenneth L. Harris, Ph.D., president and CEO of the National Business League Inc.

“The future has forced black manufacturers and logistics firms to aggressively innovate to meet global needs, as technology unlocks productivity gains, and businesses experience growth by diversifying into new areas of opportunity within the supply chain—all necessary to remain competitive in the marketplace,” Harris says.

Not all black firms have been beneficiaries of a relatively healthy economy. Most continue to struggle to secure working capital, expand, and sustain growth.