Today, his son Kyle Webb, CFO of Webb Family Enterprises, also works as CEO of the cooperative. The cooperative believes that through education, investments, and support for African American professionals and entrepreneurs, it can improve economic outcomes for the community. However, Webb believed he could do more to support entrepreneurship in the Black community.įounded in 2016, Cooperative Economic Empowerment Movement was launched as Webb’s answer to helping African Americans achieve financial independence across all sectors. Webb worked to ensure that opportunities to own a franchise in prime locations were equitable and that franchisees from underrepresented communities had the support they needed. An Ontario organization is working to create support systems for African American businesses and to close the racial wealth gap.Īs a former executive with the McDonald’s corporation, Reggie Webb recognized that 20% of Black McDonald’s franchisees were successful.
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