From left are GLAAACC Chairman Gene Hale, L.A. County Supervisor Holly Mitchell, and GLAAACC President Angela Gibson-Shaw. (Courtesy photo)L.A. County Supervisor Holly Mitchell swore in the board of directors for the Greater Los Angeles African American Chamber of Commerce and GLAAACC’S Education Fund and Foundation before an audience of business associates, colleagues and corporate sponsors on Jan. 17, at the City Club in downtown Los Angeles.
For over three decades, under the helm of GLAAACC Chairman Gene Hale with the assistance of its board of directors, GLAAACC has upheld its mission to advocate and promote the economic growth and development of African American business by focusing on legislative advocacy, as well as identifying and developing business opportunities and strategic business alliances.
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“The support of a good board of directors is the backbone of any corporation or agency,” Hale said.
“GLAAACC has become the preeminent African American chamber because of the support and ingenuity of our board of directors and corporate sponsors. We are truly fortunate to have these individuals on our team.”
GLAAACC’s premiere status results from the organization’s focus on advocating for legislation that is beneficial to minority business and providing its members with support, education, opportunity and access. GLAAACC’s Business Evolution Program, Women in the C-Suite conference, Networking Mixers, technical assistance and access to elected officials and corporate contracts make it an essential affiliation for minority business owners. A strong board of directors and corporate partners make these benefits possible.
Former City Club Chair and current GLAAACC board member Brent Stokes gave the greetings, followed by remarks from Hale and GLAAACC Ed Fund and Foundation Chair, Kim Carter.
“As beneficiaries of previous generations, it’s the privilege and responsibility of the Ed Fund and Foundation board members to support the next generation of business owners, executives and other community stakeholders.” Carter said.
“I am looking forward to working with this talented group to continue supporting and propelling the students who are following in our footsteps.
The GLAAACC Ed Fund and Foundation program includes a college-prep course that provides youth from disadvantaged backgrounds with academic support, financial assistance, and leadership training to become college graduates and community leaders. Since its inception, the GLAAACC Ed Fund has awarded over $800,000 to 179 scholarships to minority high school seniors exhibiting entrepreneurial aspirations.
In addition to the support of their board of directors, GLAAACC and the Ed Fund and Foundation benefit from the support of elected officials who work towards leveling the playing field for minority business owners through legislation.
After swearing in the two boards of directors, Supervisor Mitchell outlined some of the county’s initiatives, programs and efforts to address the barriers often faced by marginalized business owners, including the following:
Economic Mobility Initiative – The county invested $25 million to provide technical and legal assistance, as well as entrepreneurship training and commercial lease opportunities, to small Black and Brown business owners throughout the county.
Employee Ownership L.A. County – This business succession and recovery service is aimed at preserving legacy small businesses. Business owners looking to retire can receive one-on-one technical assistance and explore whether selling their business to their employees is the right course of action for them.
Commercial Acquisition Fund – The county aids businesses seeking to acquire their commercial properties, thereby stabilizing communities by keeping businesses in the community and helping small business owners in economically disadvantaged communities build wealth.
Low-Interest Loans – In partnership with Inclusive Action, Mitchell’s office knocked on over 900 doors of small businesses in the Second District to offer them low-interest loans, providing business owners with much needed capital to invest in their businesses, including funds for tenant improvements in their commercial spaces.
Equity in County Contracting initiative – Through the Office of Strategic Contracting Equity, technical assistance is provided to small, minority firms seeking to do business with the County. The county’s small business procurement preference program is being expanded to be more accessible and include nonprofits. A pilot program that provided cash advances on certain county contracts was implemented to assist small businesses struggling with the county’s 90-day pay cycle.
“We know that entrepreneurs of color are often excluded from the financing and supports that white entrepreneurs receive,” Supervisor Mitchell said. “We want to make sure the County is tackling all of these barriers to give Black and Brown entrepreneurs a fair chance to grow and thrive in LA.”
For more information on GLAAACC and GLAAACC Education Fund and Foundation, visit glaaacc.org.
