Stephen Yelity, 39, was an accounting manager for Johnson & Johnson, when he decided to start his own computer software firm six years ago. Accurate Information Systems (1988 sales: $10.5 million), based in South Plainfield, N.J., is now the 65th largest black-owned firm in the U.S., according to Black Enterprise magazine.
Like Yelity, a growing number of black executives are leaving large corporations to set up their own companies. During 1988, Black Enterprise reports, sales of the 100 largest black-owned firms grew 10.2%, compared with 7.6% sales growth for FORTUNE 500 firms. Largest by far: TLC Beatrice International Holdings (1988 revenues:...
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