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As a business owner, bracing yourself for potential setbacks is a matter of survival. It’s necessary and a great business practice that allows you to plan for the future. In the meantime, you’re able to work towards that goal and stay abreast of everything else. Add in politics and you have some new possibilities to consider. You might be wondering what politics has to do with being a business owner. However, the ways in which certain taxes and tariffs waiver directly impacts business profit. No matter your party preference, politics have the power to impact how your business functions. And with steady success and growth being the ideal goal, there are steps that you can take now to ensure they come to fruition. Will the upcoming election shake up your business? Here’s how to get prepared now. Will The Upcoming Election Shake Up Your Business? The short answer is mostly likely, but educating yourself on policies is what will empower you to make the right decisions for your business....
As small business owners and corporations duke it out in customer competition, resources that can strengthen their connection with consumers become more attractive. Big corporations have, at their disposal, the funding to get creative about marketing. Yet, small business owners are doing the same at a higher risk. Tech, though available to both, has been leveraged by both parties, with small businesses coming out on top. It isn’t enough anymore for a customer to receive what they’ve ordered; a custom experience makes it that much better and, most times, ensures a return sale. Here’s is how small businesses use tech to outsmart big corporations—and win! How Small Businesses Are Using Tech: Artificial Intelligence Small businesses within e-commerce are using platforms with AI to create more personalized shopping experiences for consumers. Elements like data analytics allow companies to offer personalized recommendations that are as more tailored than those of a corporation. Beatrice...
The Black dollar has consistently proved its power. From the impact of the historic community in Tulsa, OK, to the current cultural impact on the economy – there is no doubt that the Black dollar is a powerful and influential tool. This power is leveraged even more with the uptick in Black and minority entrepreneurship. Kwame Egerton II, the co-founder of Black Currency, understands this concept and partnered with venture capital company, Neotribe to create a pitch competition that would ultimately support minority-owned businesses. The Black Currency x Neotribe Virtual Pitch Competition will award participants a total of $6,000 in prize money. The aim is to create a space that cultivates growth in an environment where it’s difficult to raise funding due to macroeconomic conditions. “The Black Currency is happy to partner with Neotribe Venture Capital to help bring our virtual pitch competition for small minority-owned businesses to life. As a small business owner myself, I...
The United States Small Business Administration (SBA) is quite particular about which small businesses receive lending licenses. However, one Black-owned lending business has cracked the code. As one of the 14 licenses awarded, Lendistry — a CDFI and Fintech organization — has now become the only, Black-led group with a Small Business Lending Company license.
A recent study published by NBC News revealed that North Carolina is the best state to start a business in. But which state is the worst? LendingTree provided their research to NBC News, and their studies concluded that three of North Carolina’s top cities — Raleigh, Charlotte, and Durham — offer the best places for small businesses to get started. Raleigh takes the top spot, while Charlotte is at No. 3, and Durham is at No. 4. “54.8% of Raleigh’s population is in their prime working years between ages 25 and 54, ninth-highest among the 100 metros,” reports the study. Austin, TX, meanwhile, takes the No. 2 spot. In fact, according to the study, the South holds five of the 10 top ten spots in the United States to open a small business. Aside from North Carolina, states like Idaho (with Boise, ID, coming in at No. 5) and Tennessee (with Nashville coming in at No. 9) also made the top of the list. But, which states are the worst states to open a new business in? At the top of the list...