Showing posts with label small business. Show all posts
Showing posts with label small business. Show all posts

Monday, October 14, 2019

How to Finance a Black Women-owned Business in 2020


Maggie Lena Walker was the first female bank president of any race to charter a bank in 1902. Black women have continued down this path of entrepreneurship. According to one report, "the number of businesses created by black women in the United States alone is up more than 460% over the last 20 years, making them the fastest growing group of entrepreneurs in the nation."

Of course, we've known this for some time. We launched MinorityFinance.com in 1998 and noted that 65% of the inquiries from the site came from Black women. The key issue then, and now, is money: "according to the Diane Project, black female founders are only able to raise an average of $36,000 in venture funding, while start-ups owned mostly by white males have received on average $1.3 million."

We provide data-based advice and instruction, based on our years of experience, to help you over this hurdle. Our webinar provides information on the current state of Black women businesses. We provide actionable information you can use to get financing for your business.

RSVP at: https://www.eventbrite.com/e/how-to-finance-a-black-women-owned-business-in-2020-tickets-47410105903

The feedback from the our 2018 webinar, held on July 18th, August 10th and August 24th, was uniformly positive. (For a Black Enterprise article on that webinar, see: https://www.blackenterprise.com/webinar-black-women-founders-capital/ ) Eighty five percent (85%) of our customer satisfaction survey respondents found the webinar useful. Seventy one percent (71%) rated the webinar excellent.

See: https://twisri.blogspot.com/2018/09/feedback-on-how-to-finance-black-women.html

AGENDA

• Business Planning
• Your business credit history: Dun and Bradstreet
• Data and Resources for Black women businesses
• The best non profit, local/state/federal resources
• Steps in the business financing process
• Protecting your ideas: intellectual property rights
• What type of financing products and sources/investors/lenders are best for your business: banks, credit unions, factors, hard money lenders, crowdfunding, credit cards, venture capital, digital currency, ICOs.
• Why you should seek out venture capital these days. Which ones to go to. How you should approach them.

NOTE: ATTENDEE LINK WILL BE SENT TWO DAYS PRIOR TO WEBINAR.

Saturday, February 2, 2019

Small Business Policy Expo. Scott Knewitz, Policy Intern. Graduate student, American University


The 2019 Small Business Policy Expo & Ready to Launch Congressional Reception took place on Wednesday, January 30, in Washington D.C.  The event brought together leading small business advocates and Congress members, as well as current administration officials to address questions concerning the needs of American small business owners.  Given recent changes on Capitol Hill, the panelists and guest speakers sought to provide insight concerning potential policy proposals that could have an impact on entrepreneurship and small business in the US.

The policy areas receiving the most attention were taxes and healthcare.  On taxes, panelists and guest speakers alike emphasized not only the need to reduce taxes on small business owners, but also to simplify the tax process – citing time as the small business owner’s most valuable asset, an asset too valuable to spend deciphering complex details of the current tax code.  This is a clear extension of the political right’s attempt to spur economic growth through reducing taxes on businesses, in anticipation that the additional profits earned will increase employment and domestic investment. 

Given the right-leaning nature of the hosting organization, it should be of no surprise that most panelists and speakers were against the political left’s enthusiasm for Medicare-for-all. Event organizers claimed such a system would be terrible for small business owners, but the fact remains that such a medical care system would allow small business owners to direct fewer of their resources to navigating a complex system of employee health insurance.  In this respect, Medicare-for-all would enable small business owners to focus on core business goals, yielding them more of their previously mentioned most valuable asset, time.  In fact, Warren Buffett has referred to employer-provided health care as the “tapeworm of American competitiveness,” because it forces small and large businesses alike to bear a costly burden not shared by their foreign competitors.

To summarize, the policy areas of focus for small business in 2019 are taxes and healthcare. We expect no significant changes in either. The best we can hope for are small tax reforms, given the current state of politics in Washington and the divisions within the newly sworn-in 116th Congress.