Tag Archives: award

The Menkiti Group Named One of the Nation’s Fastest-Growing Inner City Businesses

Washington, DC, October 3, 2018- The Initiative for a Competitive Inner City (ICIC) announced that The Menkiti Group has made the 2018 Inner City 100 list of the fastest-growing inner city businesses in America, based on revenue growth. ICIC, a 25-year-old national nonprofit founded by Harvard Business School professor Michael E. Porter, promotes economic prosperity in America’s inner cities through private sector investment that leads to jobs, income and wealth creation for local residents.

The list was revealed at the 20th Annual Inner City 100 Conference and Awards in Boston October 1-2.  The full list is available on Fortune’s website. The Menkiti Group, led by CEO Bo Menkiti was ranked #93 based on its growth rate from 2013 to 2017 of 68.26% and 2017 revenue of $17,515,873.

2018 marked the 5th appearance on the prestigious list for The Menkiti Group, placing the company into the ICIC fastest-growing companies Hall of Fame. Keller Williams Capital Properties was also ranked for a record 5th appearance, this year at #92, which places the company into the Hall of Fame as well.

Said ICIC CEO Steve Grossman, “Inner City 100 companies are forces of economic opportunity, optimism and transformation in their communities. They lead the way in innovation, job creation and economic revitalization and it’s an honor to shine the spotlight on their leadership and accomplishments. In addition to excellence in business, these pioneering entrepreneurs have demonstrated a deep commitment to and passion for their communities, which significantly impact the wellbeing of their local economies”.

Now celebrating its 20th year, ICIC’s Inner City 100 list has long celebrated urban entrepreneurship. Since its inception, ICIC’s list has recognized 975 companies, which have seen average growth rates of more than 400 percent during a five-year period and have collectively created more than 126,000 meaningful jobs in America’s distressed and underserved communities and neighborhoods.  The Inner City 100 program opens doors for other budding urban entrepreneurs and stimulates inner city business development and job creation through recognition, networking and learning.

“These businesses and their owners are a testament to the impact innovation and entrepreneurship have had in rejuvenating urban areas across the U.S. Companies such as (COMPANY NAME) are experiencing revenue growth and increased investment, which are in turn creating more jobs and economic opportunity for citizens in the communities where these companies call home” said ICIC President and COO, Matt Camp.

2018 Inner City 100 by the numbers:

  • Average growth rate of 436 percent between 2013 and 2017
  • Represent 46 cities in 23 states
  • Employed 10,085 individuals in 2017
  • Created 5,516 new jobs in the last five years
  • On average, 36 percent of employees live in same neighborhood as the company.
  • Average company age is 15 years
  • Average 2016 revenue is $14.8 million
  • 31 percent are women-led
  • 38 percent are minority-led
  • Represent 26 industries

CEOs from the winning companies were invited to the Inner City 100 Conference and Awards, two days of robust networking opportunities and educational sessions led by Fortune 500 executives and academics from top-tier universities, including Harvard Business School. Past winners have reported connecting with multi-million dollar investors as a result of appearing on the Inner City 100 list and attending the Conference.

Initiative for a Competitive Inner City (ICIC)

ICIC is a national nonprofit founded by Harvard Business School professor Michael E. Porter. ICIC’s mission is to promote economic prosperity in America’s inner cities through private sector investment that leads to jobs, income and wealth creation for local residents. Through its research on inner city economies, ICIC provides businesses, governments and investors with the most comprehensive and actionable information in the field about urban market opportunities. The organization supports urban businesses through the Inner City 100, Inner City Capital Connections, Goldman Sachs 10,000 Small Businesses program, and Santander Bank’s Cultivate Small Business program. Learn more at www.icic.org or @icicorg.

BO MENKITI NAMED MID-ATLANTIC FINALIST FOR EY ENTREPRENEUR OF THE YEAR® AWARD

Founder & CEO of The Menkiti Group and Keller Williams Capital Properties included with 30 other regional finalists from an array of different industries and business sectors.

EY has announced that Bo Menkiti, Founder, and CEO of The Menkiti Group and Keller Williams Capital Properties, is a finalist for the Entrepreneur Of The Year® Award in the Mid-Atlantic region. The awards program recognizes entrepreneurs who are excelling in areas such as innovation, financial performance and personal commitment to their businesses and communities. Menkiti was selected by a panel of independent judges; award winners will be announced at a gala event on June 15, 2017, at the Ritz-Carlton, Tysons Corner, VA.

Bo Menkiti, Founder & CEO of The Menkiti Group and Keller Williams Capital Properties

“I’m honored to have been named a finalist for the EY Entrepreneur Of The Year Award, and to be included with such an amazing group of business leaders and innovators,” said Bo Menkiti. “This recognition is an affirmation that entrepreneurs can operate a mission-oriented double-bottom-line company like ours and be successful at scale.”

Founded in 2004, The Menkiti Group is an integrated real estate services firm dedicated to transforming lives, careers, and communities through real estate. The company has established a reputation for its creative and productive deployment of capital and the cultivation of relationships across economic and cultural divides that have historically hindered the development of urban neighborhoods.

To date, The Menkiti Group has invested over $160 million into DC’s emerging neighborhoods, with 1.5 M square feet of property currently in its development pipeline, and has helped more than 2,000 families purchase and sell homes. The Menkiti Group also owns and operates Keller Williams Capital Properties, one of the fastest growing franchises of Keller Williams Realty, with seven offices, nearly 1,000 agents, and more than $2 billion in transactions in 2016. Together, through their joint foundation, The Menkiti Group and Keller Williams Capital Properties have donated over $500,000 to organizations in the DC, Maryland, and Virginia communities where they do business.

See here for Mr. Menkiti’s full biography.

About Entrepreneur Of The Year Entrepreneur Of The Year®, founded by EY, is the world’s most prestigious business awards program for entrepreneurs, chosen from an independent panel of judges including entrepreneurs and prominent business leaders from business, finance, and the local community. The program makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership, and achievement. As the first and only truly global awards program of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in over 145 cities and more than 60 countries. Ey.com/eoy

About The Menkiti Group & Keller Williams Capital Properties Headquartered in Washington, DC, The Menkiti Group is a real estate services company dedicated to enhancing the fabric of life in America’s urban neighborhoods through the strategic development, management, and sale of residential and commercial property. The Menkiti Group has in development or in its pipeline more than 1.5 million square feet of property; has invested over $160 million in DC’s emerging neighborhoods, and has assisted over 2,000 families in purchasing and selling homes. The Menkiti Group also owns and operates Keller Williams Capital Properties, a fastest-growing franchise of Keller Williams Realty International, with seven offices and nearly 1,000 agents. MenkitiGroup.com kwcapitalproperties.com