Black Business Association of Memphis to Host Symposium Supporting Building Wealth in the Black Community
Memphis, TN, -- The Black Business Association of Memphis (BBA) will host the “Building Wealth in the Black Community Symposium” on Saturday, August 19th, 2023, at the National Civil Rights Museum from 10am to 2pm. This event will feature keynote speakers, Scotty Hendricks, Managing Partner for New York Life Insurance, author of “Our Black Year: One Family's Quest to Buy Black in America's Racially Divided Economy,” Maggie Anderson, and Benny Pough, music executive, entrepreneur, author, and real estate proprietor. Pough is at the forefront of the music industry and is one of today’s successful and innovative business leaders. Pough helped shape the sound and culture of music worldwide, having been instrumental in delivering radio hits for superstar artists such as Jay-Z, Rihanna, Kanye West, Travis Scott, Future, DJ Khaled, and 21 Savage.
With the support of Congressman Steve Cohen, this forum is leveraged through the Memphis Restart Initiative as a multi-faceted grant from the Small Business Administration (SBA). Its focus is to provide the necessary training, information, and resources to Black entrepreneurs, managers, and small businesses for their elevation to the next level.
“Black businesses are the foundation of a thriving Memphis community. We must shift our thinking from passive support to intentionally directing our spending to support them," said Ernest Strickland, President of the BBA.
Historic systemic barriers have left the average Black American family with just 12.5% of the wealth of the average White American family, which can inhibit Black families’ ability to build generational wealth. While homeownership is one of the best ways to begin building generational wealth, other strategies include business entrepreneurship, investing in retirement accounts, real estate, estate planning, and life insurance policies. Sponsored by New York Life Insurance Company, this forum is dedicated to changing the community’s conversations from poverty alleviation to wealth creation and will empower individuals and business owners to foster a mindset of openly discussing generational wealth. For more information and dates of upcoming events, visit www.bbamemphis.com or contact us at 901.636.9300.
About the Black Business Association of Memphis (BBA): The BBA is missioned to improve the economic well-being of the Memphis region by developing successful entrepreneurs and MWBEs through education, advocacy, and business development. Creating and implementing innovative and strategic programs to propel MWBEs toward economic opportunities for growth and prosperity is paramount.