Founder and Publisher Earl G. Graves, Sr. launches a publication that has become and remains “the bible of black business,” ensuring that African Americans would not be kept out of the American business mainstream.
BLACK ENTERPRISE becomes a profitable business after its first 10 months in business.
Earl G. Graves, Sr. founded the Minority Business Information Institute, operated in conjunction with the Office of Minority Business Enterprise (the precursor to the Minority Business Development Agency, or MBDA), At the rime, the research library was considered among the nation’s leading resource for minority business development.
BE unveils the first list of the Top 100 – the nation’s largest black-owned companies – in the June issue. The roster becomes the annual barometer for black business development. The original Top 100, which included industrial, service, and professional companies had total sales of $473.4 million. Today, the BE 100s has total revenues of $18.7 billion.
BE subsidiary, Earl G. Graves Marketing & Research creates Black Consumer Index, which at the time was considered the most extensive black consumer study ever developed.
Earl G. Graves, Sr. diversifies the company to included radio stations KNOK-FM and KSAX-AM in the Dallas-Fort Worth, Texas Metro.
BE becomes one of the first publications to establish a Board of Economists, including such notables as the late Nobel Laureate Sir Arthur Lewis and late Federal Reserve Governor Dr. Andrew Brimmer, and the group issues its first Annual Economic Outlook for Black America. The recommendations gained consideration from congressional leaders, policy makers and the White House.
BE establishes the Professional Networking Forums in cities such as Houston, Miami, Oakland and New York. The series serves as the company’s entrée into the events space.
Earl “Butch” Graves, Jr. joins the company as the company’s national advertising vice president, signaling the development of the second generation of corporate leadership.
The June issue of BE expands of the Top 100 to the BE 100s – the 100 largest industrial/service companies and 100 largest auto dealerships. The rankings will continue to evolve in the areas of advertising and financial services.
