Black Economic Forum returning

Urban League hosts South Florida event in its seventh year

African-American entrepreneurs will have an opportunity to identify new business opportunities in South Florida and seek the advice of financial experts when the seventh annual South Florida Black Economic Forum convenes Friday at the Urban League offices in Fort Lauderdale.

Co-sponsored by the Urban League of Broward County, the forum is designed to help black business owners create sustainable wealth.

“In the African-American community, the wealth is in your house, or the wealth is in your retirement account,” said Chuck West, a financial adviser with Morgan Stanley. “We want to go beyond just saying, ‘make money, here’s how you invest it.’ ”

Focusing on the theme, “Cornerstones of Wealth,” the event features a number of events dedicated to empowering black small business owners. In addition to an introductory luncheon and a screening of the 2015 documentary “Generation One: In Search of Black Wealth,” the forum will host three separate panel discussions, led by local experts.

Panelists, including West and Wells Fargo investment bank officer Robert Owens, are scheduled to discuss three topics: how to identify opportunities in South Florida’s leading growth industries; create generational wealth through smart investments; and reclaim communities through economic involvement.

Having worked in the banking industry for nearly 15 years, Owens believes forums like these help minority business owners compete against outside companies within their communities. The problem isn’t banks refusing to loan money to minority-led business, he said, but rather a failure in understanding how to mitigate risks and leverage existing assets.

“Everyone talks about investing,” he said. “The question is, ‘do you have a road map? Is it laid out for you?’ I want to make sure I could find that for the audience … so they can execute what they’re trying to accomplish.”

Event co-sponsor The Mosaic Group, a marketing and public relations firm, also will launch Black Business Loop, a website dedicated to publicizing African-American-