Business

PRESS ROOM: Famous Amos Launches Ingredients for Success Initiative to Support Black Entrepreneurs

NNPA NEWSWIRE — According to a recent story by CNBC, there are about 2.6 million Black-owned businesses in the United States, equating to approximately 9.5 percent of all businesses. Yet nearly 8 out of 10 Black-owned companies usually do not survive the first 18 months. Famous Amos strongly believes that pairing these entrepreneurs early on with financial resources and mentorship is a key ingredient to contribute to a more positive direction.

Published

2 years ago

November 2, 2021

Oakland Post

The Famous Amos story began in 1975 at a bakery on Sunset Boulevard in Hollywood, California. Inspired by a family recipe, the founder Wally Amos perfected the ultimate chocolate chip cookie.

Grant and Mentorship Program to award $150,000 to three selected businesses

CHICAGO, — Famous Amos, in partnership with the National Black Chamber of Commerce (NBCC), announces the launch of its Ingredients for Success Initiative, a grant and mentorship program that aims to provide the necessary tools and resources to help Black business owners succeed.

According to a recent story by CNBC, there are about 2.6 million Black-owned businesses in the United States, equating to approximately 9.5 percent of all businesses. Yet nearly 8 out of 10 Black-owned companies usually do not survive the first 18 months. Famous Amos strongly believes that pairing these entrepreneurs early on with financial resources and mentorship is a key ingredient to contribute to a more positive direction.

“In honor of Wally Amos, the founder of Famous Amos, we are extremely grateful to partner with the NBCC to help create pathways for Black business owners to thrive,” said Rachna Patel, Senior Director, Distinctive Brands at Ferrara. “Famous Amos remains committed to fostering racial equity through the work that we do as a company and our connection to the communities we serve.”

In its inaugural year, a total of $150,000 has been committed to award three Black-owned businesses, each receiving a $50,000 business grant. Along with the monetary award, grant winners will receive a complete suite of mentoring and coaching resources and tools provided by the NBCC to help drive sustainable growth and success.

“Our mission is the economic empowerment of Black businesses and communities,” said Charles H. DeBow, III, Executive Director, National Black Chamber of Commerce. “We are pleased to partner with Famous Amos to provide mentorship, as well as the necessary tools and resources to the grant recipients to assist them to not only participate but to succeed in America’s economy.”

Grant applications will be judged by some of the nation’s foremost Black business leaders including Jeffery Beckham Jr., Chief Executive Officer at Chicago Scholars; Roby Mercharles, vice president of partnerships at The American Dream Fund & Marketplace; Steve Canal, co-founder of Flourysh, ONE Venture Group, Saint Miles and The Baptist Collection; and Mandy Bowman, and founder and CEO of Official Black Wall Street.

Businesses must be at minimum 90 percent Black-owned and have been in operation for five years or less. For official rules and eligibility requirements, and to apply now, please visit https://famousamosingredientsforsuccess.info/. All entries must be submitted by Monday, November 29th, by 11:59 p.m. EST.

About Famous Amos

The Famous Amos story began in 1975 at a bakery on Sunset Boulevard in Hollywood, California. Inspired by a family recipe, the founder Wally Amos perfected the ultimate chocolate chip cookie. He used only the best ingredients to make his bite-size cookies. This delicious homemade signature helped them gain fame just by word of mouth. From there, the Famous Amos story becomes a Hollywood success story. Iconic musicians and other Hollywood celebrities began singing the praises of delicious tiny cookies from the small bakery on Sunset.

This was just the beginning of the Famous Amos story. It was always a core belief of Wally Amos that you make a tastier cookie if you use high-quality ingredients. While this has never changed, what customers looked for in a cookie did. They wanted fewer ingredients and internationally inspired recipes. So, we set out to find the ingredients from the most renowned places in the world and bring the bite-size cookies back to once again being Famous. That brings us to today, and we hope you enjoy our new Famous Amos Wonder From The World™.

About Ferrara:

Ferrara, a company, related to The Ferrero Group, is an emerging powerhouse in the North American confections and sweet snacking categories. A passionate team of more than 6,000 employees works together to share delight in every bite through leading brands that have shaped the industry for more than 100 years. Our diverse portfolio of nearly 35 brands includes SweeTARTS®, Trolli®, BRACH’S®, Black Forest®, and NERDS®, along with iconic favorites like Lemonhead®, Red Hots® and Now and Later®. Ferrara also manages the Keebler® and Famous Amos® businesses for The Ferrero Group.  Headquartered in Chicago, Ferrara has an operational network of 20 locations in North America that includes manufacturing, distribution, and R&D facilities. Learn more at www.ferrarausa.com.

National Black Chamber of Commerce (NBCC):

The NBCC is a nonprofit, nonpartisan, nonsectarian organization dedicated to the economic empowerment of African American communities. 140 affiliated chapters are locally based throughout the nation as well as international affiliate chapters based in Bahamas, Brazil, Colombia, Ghana, Kenya, France, Botswana, Cameroon, and Jamaica and businesses as well as individuals who may have chosen to be direct members with the national office. In essence, the NBCC is on the leading edge of educating and training Black communities on the need to participate vigorously in this great capitalistic society known as America.

The NBCC reaches 100,000 Black-owned businesses. There are 2.6 million Black-owned businesses in the United States. Black businesses account for over $138 billion in revenue each year, according to the US Bureau of Census. The National Black Chamber of Commerce® is dedicated to economically empowering and sustaining African American communities through entrepreneurship and capitalistic activity within the United States.

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V.P. Kamala Harris: Americans With Criminal Records Will Soon Be Eligible for SBA Loans

Speaking in Las Vegas on Jan. 27, Vice President Kamala Harris announced a forthcoming federal rule that will extend access to Small Business Administration (SBA) loans to Americans who have been convicted of felonies but have served their time. Small business owners typically apply for the SBA loans to start or sustain their businesses.

Published

2 days ago

April 16, 2024

Oakland Post

On her daylong trip, Harris was joined by Horford, SBA Administrator Isabella Guzman, Interim Under Secretary of Commerce for Minority Business Development Agency (MBDA) Eric Morrissette, and Sen. Catherine Cortez Masto (D-Nev).

By California Black Media

Small business owners typically apply for the SBA loans to start or sustain their businesses.

Harris thanked U.S. Rep. Steven Horsford (D-NV-04), the chair of the Congressional Black Caucus, for the work he has done in Washington to support small businesses and to invest in people.

“He and I spent some time this afternoon with business leaders and small business leaders here in Nevada. The work you have been doing to invest in community and to invest in the ambition and natural capacity of communities has been exceptional,” Harris said, speaking to a crowd of a few hundred people at the Brotherhood of Electrical Workers Hall in East Las Vegas.

“Formerly incarcerated individuals face significant barriers to economic opportunity once they leave prison and return to the community, with an unemployment rate among the population of more than 27%,” the White House press release continued. “Today’s announcement builds on the Vice President’s work to increase access to capital. Research finds that entrepreneurship can reduce recidivism for unemployed formerly incarcerated individuals by as much as 30%.”

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Business

G.O.P. Lawmakers: Repeal AB 5 and Resist Nationalization of “Disastrous” Contractor Law

Published

2 days ago

April 16, 2024

Oakland Post

File Photo: Assembly Republican Leader James Gallagher (R-Yuba City)

By California Black Media

Republican lawmakers gathered outside of the Employee Development Department in Sacramento on Jan. 23 to call for the repeal of AB5, the five-year old California law that reclassified gig workers and other independent contractors as W-2 employees under the state’s labor code.
Organizers said they also held the rally to push back against current efforts in Washington to pass a similar federal law.

“We are here to talk about this very important issue – a battle we have fought for many years – to stop this disastrous AB 5 policy,” said Assembly Republican Leader James Gallagher (R-Yuba City).
Now, that threat has gone national as we have seen this new rule being pushed out of the Biden administration,” Gallagher continued.

On Jan. 10, the U.S. Department of Labor issued a new rule providing guidance on “on how to analyze who is an employee or independent contractor under the Fair Labor Standards Act (FLSA).”
“This final rule rescinds the Independent Contractor Status Under the Fair Labor Standards Act rule (2021 IC Rule), that was published on January 7, 2021, and replaces it with an analysis for determining employee or independent contractor status that is more consistent with the FLSA as interpreted by longstanding judicial precedent,” a Department of Labor statement reads.
U.S. Congressmember Kevin Kiley (R-CA-3), who is a former California Assemblymember, spoke at the rally.

“We are here today to warn against the nationalization of one of the worst laws that has ever been passed in California, which has devastated the livelihoods of folks in over 600 professions,” said Kiley, adding that the law has led to a 10.5% decline in self-employment in California.

Kiley blamed U.S Acting Secretary of Labor, July Su, who was the former secretary of the California Labor and Workforce Development Agency, for leading the effort to redefine “contract workers” at the federal level.
Kiley said two separate lawsuits have been filed against Su’s Rule – its constitutionality and the way it was enacted, respectively. He said he is also working on legislation in Congress that puts restrictions on the creation and implementation of executive branch decisions like Su’s.
Assemblymember Kate Sanchez (R-Rancho Santa Margarita) announced that she plans to introduce legislation to repeal AB 5 during the current legislative session.

“So many working moms like myself, who are also raising kids, managing households, were devastated by the effects of AB 5 because they lost access to hundreds of flexible professions,” Sanchez continued. “I’ve been told by many of these women that they have lost their livelihoods as bookkeepers, artists, family caregivers, designers, and hairstylists because of this destructive law.”