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Although Shante Frazier and Lauren Mitchell grew up in an entrepreneurial family, they never anticipated becoming entrepreneurs. Inception Frazier first worked as a consultant at PwC upon graduating from New York University in New York City, NY, with an MBA. At the time, her plan was to climb the corporate ladder with an overarching goal of becoming a partner at the company. Mitchell also worked as a consultant at Deloitte for six years, followed by an additional year at Grant Thornton. Their transition into entrepreneurship was triggered by Frazier’s opportunity to participate in a venture studio — a company that provides capital to launch startups — in the wake of COVID-19. While brainstorming a business concept, Frazier’s aunt suggested a rental company for weaves and hair extensions. After further consideration, Frazier recognized the key aspects that would be necessary to turn the idea into a venture, which included an extensive sanitation process and bringing Mitchell on...
NFL quarterback Caleb Williams made an unconventional ask in his rookie contract. Williams is signed to the Chicago Bears as a first-round draft pick in the 2024 NFL Draft, ESPN reports. View this post on Instagram A post shared by USC Football ✌️ (@uscfb) The outlet added that the stakes are at an all-time high at the moment, as the team has not had an All-Pro since 1939. The team is currently working to ensure Williams is prepared for the 2024 season in training camp, which began July 20, 2024. Athlon Sports mentioned that Williams is expected to start in the preseason game against the Houston Texans on August 1, 2024. “You can just tell he’s in a better space,” D’Andre Swift, Chicago Bears’ running back, said, per NBC Sports. “That comes along with time. Getting a better understanding of the offense. He had time off, so he had more time to study the offense. So you can tell he’s made strides since he’s been back [from the break]. I know he’s got a lot on his plate, a lot being...
Aisha “Pinky” Cole is about her business, and she is paving the way for the next entrepreneurs to create their own empires. As AfroTech just told you, the founder and CEO of the Slutty Vegan franchise blessed the entire 2022 graduating class at Clark Atlanta University with Limited Liability Companies (LLCs). Already, recipients of the generous contributions have gotten their LLCs off the ground and running in less than three weeks. “When I graduated, I did not have a plan, but these people graduated with a plan. Now, it’s about how they executed that plan, and I’m looking forward to more entrepreneurs from that class of students who have gotten their LLCs to do something big and create that multimillion-dollar business, just like I did. If I can do it as a girl from East Baltimore from around the way and who comes from humble beginnings, I know every single one of them can too,” Cole told AfroTech in an exclusive interview.
Just two years after a previous incident where his home was also raided, Bill Omar Carrasquillo — commonly known as “Omi in a Hellcat” on YouTube — received an abrupt awakening from federal authorities. On the morning of Sept. 21, the YouTuber was placed in handcuffs and indicted for an ongoing internet piracy scheme in his New Jersey mansion. Carrasquillo — a YouTuber who once boasted about his 790,000 subscribers on the social platform — has flashed his lavish lifestyle over the years, which includes millions of dollars in assets, 52 properties, and 57 vehicles, according to CBSPhilly. A large portion of the YouTuber’s wealth is said to be illegal — coming from the Internet protocol television service, (IPTV) Reboot, Gears TV, Reloaded and Gears Reloaded. View this post on Instagram A post shared by Omar Carrasquillo (@omi_in_a_hellcat) “I don’t think I ever did anything wrong. I was running businesses wide open in the public. So now we just gotta see. We are going to have our...
If you’ve clicked on this article chances are you want to start a business or have already done so and want to make it legit by creating a Limited Liability Company (LLC). That’s great news! Kudos to you for going after your dreams. The process of creating an LLC is relatively simple but it’s important to highlight the financial management that follows. Are you ready to budget fixed expenses? In the excitement of creating an LLC, one of the things people overlook is budgeting for the state-mandated annual report. For example, in Florida, if you create an LLC you are required to submit an annual report to keep your LLC in active status. The annual report in Florida is currently $138.75, and prices may vary from state to state. Businesses who fail to budget this annual fixed expense are prone to forget the submission deadline for this crucial report. Failure to submit it puts your LLC at risk of losing your active LLC status, which can result in losing your clients, and you’d be hit...
Many people who start businesses start producing and selling goods or services before considering what business structure might work best. By default, they are opting into a form of a business structure known as a sole proprietorship. These businesses are typically run by one individual and are unincorporated, and for legal and financial purposes, no distinction exists between the business owner and the business itself. However, a significant drawback with a sole proprietorship is that because of this lack of legal and financial distinction, the owner is legally and financially liable if something goes wrong. If, for example, someone gets sick after eating in your restaurant and sues you, if they win, not only might your restaurant be at risk, but you might also be required to use your personal savings to settle the judgment. If you’ve begun to consider what business structure might shield your personal assets, you may have come across the terms “limited liability corporation” (or...
Ope Amosu turned a hobby into a thriving restaurant. The London, England, native is a child of Nigerian immigrants who relocated to Houston, TX, and to him food is fellowship and also a gateway to community. It’s why he pivoted from the oil and gas industry — where he held roles at General Electric (GE) such as senior commercial development leader and corporate account executive — to launch ChòpnBlọk, a fast-casual restaurant inspired by his West African roots. Co-founded with his wife, Janelle, the restaurant has become one of Houston’s standout culinary destinations. Photo Credit: ChòpnBlọk “Food was one of those universal languages where we could cross many barriers to ultimately get a a super diverse, broad community and share with them who we are, where we come from, what we own, what we have provided. That’s really what the passion is about. Landing on food as the vehicle is what set me on this path,” Amosu told AFROTECH™ in an interview. Non-Traditional Journey Amosu’s...
Unemployment insurance (UI) is a critical safety net for workers. It’s designed to provide temporary financial assistance to people who lose their jobs through no fault of their own. For startups , it’s important to understand the legal obligations around unemployment benefits, especially when navigating the challenges of hiring employees and managing payroll. While large corporations typically have well-established unemployment insurance practices, startups may be less familiar with the requirements. This article explores whether startups are required to offer unemployment benefits, how unemployment insurance works, and what employees and founders should expect. Understanding Unemployment Insurance And Employer Responsibilities Unemployment insurance is a joint federal-state program that provides financial assistance to eligible workers who are unemployed for reasons beyond their control. Each state administers its unemployment insurance program within federal guidelines. This...
Time management has always been a critical skill, but as workloads increase and efficiency becomes more valuable, artificial intelligence has emerged as a powerful tool for optimizing schedules, automating tasks and improving productivity. AI-driven solutions help individuals allocate their time more effectively, eliminating repetitive work and streamlining decision-making. Unlike traditional time management methods that rely on manual input, A I leverages data and automation to create more efficient workflows , ensuring that time is spent where it matters most. The analytics that come from consistent use of tools like Gemini and ChatGPT provide a clear picture of how time is being spent across projects and teams, enabling businesses to streamline operations and eliminate unnecessary meetings. Predictive AI technology anticipates peak work periods and adjusts schedules accordingly, helping professionals prepare for heavy workloads in advance. This is especially useful in industries...
The Russell Innovation Center for Entrepreneurs (RICE), dedicated to expanding opportunities for Black entrepreneurs in Atlanta, GA, and beyond, has received a $2 million donation from The Arthur M. Blank Family Foundation. According to a news release, Blank’s donation will help the center move forward with RICE 2.0, a hub for innovation, collaboration, and economic empowerment that will provide essential resources for Black business founders, including small business grants, expanded programming, and mentorship opportunities. “This investment reflects our chairman’s entrepreneurial journey and his commitment to giving back to Atlanta, a city that has given him so much,” Blank Foundation President Fay Twersky said. “RICE’s extraordinary work supporting entrepreneurs creates pathways to economic mobility and opportunity. By investing in entrepreneurs at all stages, we’re fostering collective thriving where individual success strengthens entire communities.” In 1978, Arthur Blank...
Success comes with its moments, and Pinky Cole Hayes knows this firsthand. Cole Hayes is the mastermind behind Slutty Vegan restaurant, with seven locations, primarily in Georgia. As AFROTECH™ previously reported, the company’s market value was estimated at nearly $100 million by 2022, which included $25 million from a Series A funding round. Over the years, the company’s triumphs included expanding to Hartsfield-Jackson Atlanta International Airport and Spelman College, although the location at the HBCU has since closed. Cole Hayes has experienced roadblocks with the venture in 2024, and those challenges led to her losing the business, she told People. “Right now, in this moment, I’ve really been in a place of peace, but I had a really rocky 2024. Our corporate overhead was about $10 million,” Cole Hayes mentioned to People. “I was chasing something that I couldn’t catch for so many reasons.” Cole Hayes also acknowledged that she had not been “the operational person,” which has led...
A directory listing Black doctors has been sued. The Black Doctors Directory offers a comprehensive list of Black doctors in southeastern Pennsylvania, Delaware, and New Jersey. Its website mentions that the directory covers specialties such as family medicine, allergy and immunology, neurology, gynecology, and hematology, and highlights doctors who provide high-quality and culturally competent care . “Racial health disparities contribute to poorer outcomes for Black residents, regardless of their education, income, or insurance. Research shows that racial congruence in healthcare—when patients are treated by doctors who share their race—improves outcomes for African American patients,” a statement on the directory’s webpage reads. The directory was launched by Pennsylvania’s only Black talk radio station, WURD Radio, and is presented through a partnership between Penn Medicine and the Consortium of DEI Health Educators. However, the directory is now facing legal scrutiny due to a...