Published:  Tuesday, June 28, 2022

The June Revive Black Business Summit was very inspiring and informative.

60+ Black business owners, entrepreneurs and support organizations participated in the hybrid – in person and virtual event hosted by Willie and Yolanda Barney of Revive Omaha Magazine, Revive Black Business Network, Revive Center and Carver Legacy Center.

The monthly summits provide an opportunity to gain knowledge on important topics, meet specialists in each area, hear from business owners who excel in implementation, network with other entrepreneurs and get connected with resources and opportunities through the business exchange.

Building Multiple Businesses

Luper Akough, CEO of Clout Enterprises, provided insights on launching and scaling multiple businesses.  His key points including building effective systems, understanding timing, investing in yourself, finding partners and hiring the right people were incredibly helpful.

Akough and his wife, Brittanie, are known as innovators and serial entrepreneurs with over 100 employees.  Luper shared their goal of creating 450 new employees over the next five years.

Keys to Raising Capital

Timothy Christian, CEO of Night Fox Entertainment, shared his valuable experiences with raising capital for films and entertainment projects.  Those in attendance appreciated the core elements that he outlined:  Integrity, Intelligence, Passion, Partnerships, Idealism and Pragmatism, and Surrounding Yourself with the Right People including an Attorney and Accountant.

Christian has his corporate headquarters in his hometown of Omaha, Nebraska and maintains an office in Los Angeles, California.  His company’s sweet spot is raising capital for $10 million films.

Opportunities Created by the North Omaha Recovery Plan

State Senators Justin Wayne and Terrell McKinney provided an update on their work to gain approval of $330 million in state funds for North and South Omaha, Lincoln and other qualified census tracts in Nebraska to support entrepreneurship, business development and job creation.

They informed the group that most of the work for implementation will be conducted through the Department of Economic Development.  They emphasized the need for businesses to be prepared for the opportunities and community engagement meetings are coming soon.

The Nebraska Department of Economic Development has created a page to stay updated on the opportunities with the North Omaha Recovery Plan. https://opportunity.nebraska.gov/programs/recovery/

Tax Increment Financing

Bridget Hadley, Economic Development Manager for City of Omaha, provided an overview of TIF and the process used to determine what projects might qualify.  Participants have a greater understanding of how it works and ways that our businesses and real estate owners can get engaged and maximize this financial tool.

TIF can be used as leverage by developers to attracting additional funds and financing.   Smaller and large development projects are eligible.  Hadley is available to support large and small projects and encouraged the attendees to reach out to her.

Equity Investments

Dr. Martin Williams, CEO of Martin Williams International and DreamBusiness, walked the group through the opportunities created by being open to equity investments.   Entrepreneurs should consider what’s possible when teaming with others and allow investors to have a stake in our businesses.  Williams also shared insights on having a buyout plan and selecting the right partners.

Williams and his wife, Lynnell, have helped dozens of businesses with scaling from self-employment to multi-million dollar enterprises.  They hold real estate investments locally and internationally and partner with the Barney’s with the Carver Legacy Center.

Business Loans

Ernest White, 1^st Vice President of American National Bank and Ambassador for Carver Legacy Center and Jim Reiff, Executive Director of Nebraska Enterprise Fund, shared practical and real examples of loans and resources available through the Carver Legacy Center and Nebraska Enterprise Fund.

The Carver in partnership with American National Bank has assisted 30+ businesses and another 25 are in the pipeline.  Nebraska Enterprise Fund has made loans to hundreds of businesses in Omaha.

The most recent approval includes Roll-N-Sweetz, the new rolled ice cream shop which was opened by a 17 year old entrepreneur at 60th and Ames. Carver and Nebraska Enterprise Fund both supported the business financially.

Stay connected.  

The next Revive Black Business Summit will be held on Saturday, July 23rd and the topic will be Maximizing Technology to Grow Your Customer Base and Increase Profits.  More information coming soon.

Black business owners and entrepreneurs are invited to become formal members of the Revive Black Business Network and experience the outstanding benefits associated with this group.  Build your social, cultural and intellectual capital.

Willie and Yolanda encourage attendees to continue doing business with each other and supporting Black entrepreneurs.  The Revive Black Business Guide features hundreds of Black-owned businesses in Omaha.  Revive Black Business Guide

And, join the Carver Legacy Center movement.  Go to Carver Legacy Center to open your account, apply for a loan, sign up to receive training or develop your plan for building wealth.