As economic headwinds push more Black professionals toward business ownership, Famous Amos and U.S. Black Chambers, Inc. bolster commitment to entrepreneurs’ success
CHICAGO, March 31, 2026 /PRNewswire/ — Ferrero North America has launched the sixth annual Famous Amos Ingredients for Success (IFS) Entrepreneurs Initiative, in partnership with U.S. Black Chambers, Inc. (USBC). Each year, IFS provides early-stage Black business owners with $150,000 in capital awards – distributing $50,000 each to three recipients – along with mentorship, networking opportunities and educational resources. IFS honors the legacy of Famous Amos founder Wally Amos by recognizing the qualities that drive long-term business success.
“Every year, we meet entrepreneurs with incredible vision who are working to overcome similar systemic barriers that existed when Wally Amos was founding Famous Amos,” said Kim Thomas, Senior Brand Manager, Famous Amos & Royal Dansk. “IFS helps break those barriers down by expanding access to capital, mentorship and networks that can accelerate growth. That mission is deeply rooted in Wally’s story, and six years later, we remain committed to carrying it forward.”
For many Black professionals, business ownership is not only an aspiration but a necessary response to workforce instability. In 2025, Black women experienced some of the steepest employment losses in a generation – a 1.4 percent drop in their employment rate, per the Economic Policy Institute. But as corporate doors close, new pathways are opening.
A 2026 Wells Fargo report shows Black women-owned employer businesses grew 18.3% between 2022 and 2025, with employment at those businesses growing 23.1%, outpacing the national average. Still, without adequate access to capital, many are forced to self-fund their businesses – underscoring the gap in capital and resources that programs like IFS are designed to help address.
The “Silver Tsunami” of Baby Boomer retirements is also opening unexpected doors – creating new pathways to business ownership through acquisition and succession that also leverage the kind of capital and guidance IFS provides. According to Project Equity, over half of all privately held U.S. businesses with employees have owners over age 55, and the majority have no succession plan in place.
“The wave of Baby Boomer business retirements presents a significant wealth-building and legacy preservation opportunity for Black entrepreneurs – if they have the right resources to seize it,” said Talisha Bekavac, USBC Executive Vice President. “We are passionate about making sure Black entrepreneurs have the tools and capital they need to step into ownership, preserve jobs and help America’s economy innovate and grow. That’s exactly why our partnership with the Famous Amos IFS initiative matters.”
The IFS initiative is kicking off this month for 2026. Applications are open now through June 1, 2026, and can be submitted at FamousAmosIngredientsForSuccess.com. Qualifying businesses must be: at least 90% Black-owned, in operation for five years or less, headquartered in the United States and owned by individuals 21 years or older.
This year’s panel of judges includes returning panelists and prior IFS winners who bring firsthand insight into what it takes to build a successful business:
- “Rev” Shawn Amos – Entrepreneur, author and son of the late brand founder, Wally Amos
- Tracy Vontelle Green and Nancey Flowers-Harris – CEO and COO of luxury fashion eyewear company, Vontelle Eyewear and IFS inaugural winners
- Steve Canal – Founder of ONE Venture Group, best-selling author and branding expert
“Coming back to this panel, I’m reminded how much talent and passion there is among these entrepreneurs,” said “Rev” Shawn Amos. “My father built Famous Amos on faith, focus and follow-through, backed by a $25,000 investment from friends who believed in him. Ingredients for Success gives today’s founders that same belief, with hands-on support to help them thrive long-term: $50,000, mentorship and a community committed to elevating the next generation of business leaders.”
Since its debut in 2020, IFS has awarded 15 business owners a total of $750,000, providing the capital, connections and resources to pave the way for their success and drive their legacies forward. This year, select IFS alumni will serve as an advisory council, leading panels and masterclasses that give the 2026 class access to hard-won business insight from those who have walked the path before them. To learn more about IFS alumni and their journeys, visit FamousAmosIngredientsForSuccess.com/IFSWinners.
Stay tuned to Famous Amos social channels for the latest brand news and IFS updates: Instagram, Facebook, TikTok, X, and Threads.
About Famous Amos®
Famous Amos is a beloved brand that started in 1975, famous for its classic, bite-size chocolate chip cookies. Founded by Wally Amos, a passionate Black entrepreneur, Famous Amos grew from a bakery in Hollywood, California into a brand serving millions of customers across the United States. In 2020, Famous Amos began a major philanthropic effort, the Ingredients for Success Entrepreneurs Initiative. Now in its sixth year, this initiative supports economic empowerment and long-term success for early-stage Black entrepreneurs. To learn about the program and how to apply, visit FamousAmosIngredientsForSuccess.com. Follow Famous Amos on socials: Instagram, Facebook, TikTok, X, and Threads.
About Ferrero®
Ferrero began in the small town of Alba in Piedmont, Italy, in 1946. Today, it is one of the world’s largest sweet-packaged food companies, with over 35 iconic brands sold in more than 170 countries. The Ferrero Group brings joy to people around the world with much-loved treats and snacks including Nutella®, Kinder®, Tic Tac®, and Ferrero Rocher®. More than 47,000 employees are passionate about helping people celebrate life’s special moments. The Ferrero Group’s family culture, now in its third generation, is based on dedication to quality and excellence, heritage and a commitment to the planet and communities in which we operate.
Ferrero entered the North American market in 1969 and has grown to more than 5,400 employees in 15 plants and warehouses, and eight offices in North America across the United States, Canada, and the Caribbean. It has expanded its presence and portfolio with the addition of iconic brands such as Butterfinger®, CRUNCH®, Keebler®, Famous Amos®, Mother’s ® Cookies, and other distinctive cookie and chocolate brands. For additional information, please visit FerreroNorthAmerica.com and stay connected with Ferrero on social (Instagram, X).
Contact: Rob Tate, rtate@golin.com
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SOURCE Ferrero North America
