As a black attorney with a deep concern and commitment regarding black enterprise, I read with interest the June 26 article, "Black Entrepreneurs: Lost in the Crowd?"
In 1965, I was a founder and vice president of the Los Angeles Area Economic Development Agency, a nonprofit corporation established to promote small businesses in Los Angeles County among blacks, minorities and the underprivileged.
When this federal program was terminated in 1968, only four of the 100 small businesses initiated had failed. The 4% failure rate is a great achievement in view of the national failure rate of 85%.
The success of this program was due in most part to the monitoring of the new business, including access to real estate brokers, accountants and consultants for the Small Business Administration, which supervised the program.