The Inland Empire-based Webb Family Enterprises, attributes their family’s entrepreneurial success to giving back to the community. It is also the philosophy behind a new initiative they are leading. It calls on Black people to become part of a bigger movement titled, the Cooperative Economic Empowerment Movement (CEEM).
CEEM’s co-founder and CEO, Kyle Webb, recently explained how the cooperative’s goal of raising $15 million for the sole purpose of sustaining Black business and supporting community doesn’t take a miracle, all it takes is $100 per person; and for those who get involved, there will be the added benefit of cash back rewards. It is all part of a vision to grow a business empire, while also serving as a wealth building strategy. “Our cause is about increasing [the] incidence of entrepreneurship in the Black community,” Webb said.
CEEM is a membership cooperative dedicated to increasing wealth, prosperity and educational outcomes for the African American community. This will be accomplished through mentorship, education, and training. It is open to all residents of California who are willing to make contributions in our efforts to promote wealth of African Americans. The membership cost is $100 per person.
In some ways, he said CEEM resembles a crowdfund like the Black Wall Street—for the financial benefit of the Black community.
The $100 one-time membership fee is applicable to both individuals and businesses. There is also a recurring annual membership fee is $25 for individuals, and $100 for businesses. If 150,000 members of Black businesses and individuals join, the membership fees will provide a $15 million investable capital base, Webb explained.
Membership dollars go directly into the fund and will be used to buy more businesses supported by the Black community and others. Members will receive occasional dividend checks.
CEEM will offer workshops and business building events in conjunction with local partners. Everyone can join in, and everyone can profit. There will be workshops and business building events in conjunction with local partners.
CEEM founder and Entrepreneur, Reginald Webb, noted that in the Inland Empire, as in California overall, African Americans are 7 percent of the population but receive less than 1 percent of revenue from business ownership. “Changing this paradigm is essential to improving our economic health and increasing the number of our families that are middle class,” he wrote. CEEM’s goal is to unite the Black community around its market potential and provide support to Black owned businesses and individuals that allow them to operate successful enterprises.
“Key to our success is a commitment to shared core values that create a community ethic driving greater prosperity. Our aim is to sell what we buy.”
Provided CEEM successfully develops its membership base it plans to invest in the first business during the first quarter, 2019.
Learn more and join the movement at https://ceem-ie.com/.
Header Photo: Kyle Webb and his father, Reginald Webb