Virginia Supports African American Entrepreneurship

The second annual Black Expo. will be held in Norfolk, Virginia this weekend. The expo is designed to spark economic development and attract perspective clients and consumers to black-owned businesses. The effort to promote African American business development contributes to Forbes Magazine ranking Virginia as the number 1 state for business.

This is the first year Forbes.com has looked at the best state for business. The study took into account the costs of business, labor issues, regulatory and economic climates, growth prospects, and the quality of life in the state. According to the Forbes.com Web site, Virginia ranked in the top 10 of all six categories, something no other state did.

With the expectation of between 8,000 and 10,000 people in attendance this weekend, the theme of this year's expo is "Capitalizing on Franchise Opportunities." The Hampton Road Economic Development Alliance says they help sponsor the event with the intent to attract more minority companies to the Hampton Rhodes area. The event will offer an entrepreneur's workshop for young people from around 13 to 35 years old and a keynote address from Earl Graves Sr., the founder, chairman, and publisher of Black Enterprise magazine.