The Federation of Black & Minority Businesses aims to bring economic change to urban community

PHILADELPHIA (WPVI) -- On Tuesday, The Federation of Black & Minority Businesses officially announced the launch of their organization along with plans to bring economic change to the urban community.

"This has been decades in the making," said co-founder Rev. Michael Sloan Sr. "Our objective and goals are to raise awareness in the African-American and minority communities with the lack of opportunity that's there."

Sloan and his team of business owners have partnered up with local companies to help create jobs and resources that he feels are lacking for the inner-city youth.

"If you're not gifted, athletically, academically, or musically, what do you really have to look forward to? Where are the opportunities?" Sloan added.

The FBMB will launch a series of programs that include job training, post-secondary education, and access to state of the art health and wellness resources.

State Senator Sheriff Street, 3rd Senatorial District, who was also in attendance, said, "I think for an organization to empower minority businesses is needed. We have the African-American Chamber of Commerce, they do a real good job with a sector, but there can never be too many voices empowering and focusing on minority businesses."

From construction work to engineering and STEM, Sloan says there are plenty of job opportunities from various organizations that have reached out to help.

"Minorities do spend a lot of money, but little goes back into the community," said Sloan. "That's what the federation is all about. Creating awareness and helping with those injustices that happened, but more importantly, generating money to handle some of the issues that are going on in our community."