In 2004, the Ewing Marion Kauffman Foundation reported that Black men and women are 50% more likely to start businesses than their white counterparts. The study also revealed that while millions of Black businesses are launched each year, many of those businesses fail. Entrepreneur Hanif Russell has seen this scenario of start-up and failure in the Black business community play out time and time again in his home state of New York, which also happens to lead the numbers in annual Black business startups. That’s why in December 2008, frustrated with the lack of support within the Black business community, Russell launched Black Business Works.

Russell says black business failure often occurs because there isn’t a strong business network that focuses on the needs of black-owned businesses. He founded Black Business Works to be that strong network black businesses need to succeed.

Black Business Works facilitates the role of raising the awareness in the black community of black professional business services offered to the black community and beyond. The organization’s services are designed to help black businesses become financially sustainable and garner support from the black community. Russell believes if more money is spent with black-owned businesses, then black businesses will have a better chance for financial stability and business growth. The community spending approach has been utilized within other communities with much success, with Black Business Works we will see more Black businesses succeed.