Hot opportunities, young entrepreneurs.

Innovation and youth have always been the hallmarks of American entrepreneurship. Take our publisher, Earl G. Graves Sr., as an example. Thirty-six years ago, the brash 35-year-old entrepreneur conjured up this publication--a magazine designed to help millions of blacks achieve their measure of the American dream through entrepreneurship, career development, and sound money management. He eventually built that vision into a multimedia empire.

He was no different from others who have used ingenuity and sheer will to launch and sustain business ventures. It is the small entrepreneur--some would say "the dreamer"--with the new and, in many cases, absurd idea that is the true engine of our economy. If you look at our BE INDUSTRIAL/SERVICE 100 list, which includes businesses ranging from information technology providers and specialty chemical companies to casino gaming operators and a Caribbean foods franchisor--this brand of audacity has given rise to 34 companies that generate gross sales of more than $100 million. And judging by the recent U.S. Census Bureau's latest survey of business owners, the future seems bright. While the number of U.S. businesses increased by 10% between 1997 and 2002 (from roughly 20.8 million to 23 million), the number of black-owned businesses grew a whopping 45% (from 824,000 to 1.2 million). In 2002, black businesses produced gross revenues of $92.7 billion, a 30% increase over five years. (See Facts & Figures, this issue.)

In this issue, we profile a phalanx of African American entrepreneurs--all under the age of 35--who have demonstrated a mix of clairvoyance and daring. We do not know whether their firms will eventually grow to the size of a BE 100s company or manage to survive the dog-eat-dog environment of American industry. However, each of these enterprises has successfully targeted a specific market niche, developed a comprehensive business plan, and secured financing--all key ingredients for a growing business.

One such entrepreneur is Chioma Isiadinso, a 34-year-old Nigerian woman who launched EXPARTUS L.L.C. with her husband, Obinna. EXPARTUS is an admissions consulting firm that transforms prospective graduate students into attractive candidates for Ivy League schools. She has used her experience as a former director of admissions for Carnegie Mellon's Heinz School and a former member of the admissions board at Harvard Business School to develop a company with an 85% placement rate and $100,000 in gross revenues to boot. "It's important that we highlight the successes and failures of young entrepreneurs like Isiadinso," says James C. Johnson, BE's technology/small business editor who regularly spotlights groundbreaking business owners in the Enterprise and Techwatch departments. "Their trials and triumphs offer valuable lessons for our readers who have taken, or seek to take, the entrepreneurial plunge."

Johnson knows of what he speaks. Before joining BE's editorial ranks, he founded and ran Deja View Information Service, an electronic publishing company, for four years. As you can imagine, finding entrepreneurs and telling their stories is his mission. And in every issue, Johnson's passion--as well as his subjects' passion--can be found on the pages of this magazine.

Showing entrepreneurs the path to starting and building their businesses still remains at the heart of BE's mission as well. In addition to our magazine coverage, we offer business success profiles--including our Entrepreneur of the Week segment--on the Black Enterprise Report television show; pore over applications from you, our reader, on businesses we should consider for our small businesses of the year awards (the deadline for entries is Jan. 15); and continue to provide deal-making and networking opportunities through the Black Enterprise Entrepreneurs Conference & Business Expo, the largest event of its kind in the nation. Through our magazine and our other outlets, we will continue to identify the young entrepreneur who has, indeed, discovered how to build the better mousetrap. In fact, it might just turn out to be you.--The Editors