The National Business League Launches 3rd Cohort To Enhance Black Contracting Opportunities

The National Business League (NBL) aims to build up contracting opportunities for Black entrepreneurs. It is now taking applications for its third cohort class of businesses to contribute to scaling their business.

Thirteen to 15 companies will soon be selected as participants in NBL’s National Black Supplier Development Program (NBSDP) for the 2023-24 cohort. The development program is geared to make Black companies more competitive globally and better position them to secure contracts with larger companies from the public and private sectors.

Those interested in the new cohort should act soon, as the application deadline is Aug. 18, 2023. The program will run from September 2023 through December 2023.

NBSDP National Director Forrest Carter told BLACK ENTERPRISE about the program’s uniqueness. “We blend knowledge transfer, mentoring with other Black CEOs, and access to Fortune 500 companies. The ultimate goal is for participants to have an actionable growth plan.”

The support is truly needed. Reportedly about 95% of Black-owned businesses are solopreneurs or micro-businesses with only one employee. Unfortunately, Carter says, few Black companies have the scale to supply Fortune 500 companies, and the program’s goal is to address this disparity.

This year’s four-month free program will include online learning, allowing participants to spend about 15 hours monthly mastering a management program. Participants also will receive approximately 20 hours of professional one-on-one mentoring and coaching during the program.

Cohorts will have access to many tools to help them grow and sustain a lasting business model. For instance, they include workshops on best practices like growth planning, branding, and building capacity.

The NBL launched the NBSDP in 2021 to combat some of the challenges. Automaker Stellantis and minority business enterprise MPS Group were initial founding sponsors, committing to support the NBSDP for three years. They have provided over $1 million in financial support and other resources to back the program.

The program is intended to boost capacity, scale, and revenue, creating economic parity for Black businesses across all industries worldwide. With its first-year success, the NBSDP has attracted more support from companies like Cummins, DTE Energy, Ford, General Motors, Lear, Magna, and Toyota. NBSDP reported over $100 million in contracts with Black program participants.

The NBSDP reports it has conducted two successful cohorts: a collective pilot with 13 participants during 2021-22 and its first full cohort during 2022-23 with 15 Black suppliers.

To learn more about NBSDP and apply for the new cohort class, visit here and here.