A QUICK LOOK AT GETTING A SMALL BUSINESS LOAN
IS OWNING A SMALL BUSINESS RIGHT FOR YOU?
It's Time to Update Your Personal Style
Make Up Do's and Dont's for Black Women
Low Cost Ways to Advertise Your Small Business
Creating a Smart Plan to Secure the Future of Your Business!
Get the Sale by Creating a Great First Impression
Top 5 Smart Money Management Tips for Sales Professionals
aximizing Your Marketing Impact for Growth
Simplifying Your Operations for Success With a POS System
Conquer Procrastination and Unlock Your Potential
The Importance of Building Healthy Relationships
Why Your Companies Image is More Crucial Than Ever Beore
How to Create a Cohesive Business Brand
5 WAYS TO JUMP START YOUR BUSINESS SALES
Legal challenges are an inevitable part of running a business. For black business owners, these challenges can be particularly daunting, given the systemic inequities and additional hurdles they often face.
TIPS TO PREVENT LEGAL ISSUES FROM DERAILING YOUR SMALL BUSINESS
Email marketing remains one of the most effective tools for engaging customers, driving sales, and building lasting relationships. For black business owners, mastering email marketing can provide a significant edge in a competitive marketplace.
LET EMAIL MARKETING HELP DRIVE NEW BUSINESS RIGHT TO YOUR DOOR
THE IMPORTANCE OF BUILDING AND MAINTAINING GOOD CREDIT
OBSTACLES FACING BLACK SMALL BUSINESS OWNERS
Starting a small business can be tough for anyone, but for Black business owners starting a small business can prove to be a little bit more challenging.
Economic Situation
A major reason why Black business owners face increased challenges is the state of the economics of the Black community. According to the Pew Research Center, the median wealth of Black households fell 53% between 2004 and 2009 to an abysmal $5,677. According to the U.S. Department of Labor the unemployment rate amongst Blacks is an astounding 15.8%.
Social Problems
Another key reason why many Black owners are having a difficult time achieving success is the social problems facing many Black communities. Poverty, drugs, violent crimes, and the disproportionate number of Black men that are incarcerated have caused families to fall apart and whole communities to waste away.
Economic Situation
A major reason why Black business owners face increased challenges is the state of the economics of the Black community. According to the Pew Research Center, the median wealth of Black households fell 53% between 2004 and 2009 to an abysmal $5,677. According to the U.S. Department of Labor the unemployment rate amongst Blacks is an astounding 15.8%.
Social Problems
Another key reason why many Black owners are having a difficult time achieving success is the social problems facing many Black communities. Poverty, drugs, violent crimes, and the disproportionate number of Black men that are incarcerated have caused families to fall apart and whole communities to waste away.
Access To Capital
Many Black business owners find that they face a difficult time accessing the capital needed to fund their business ventures. They felt that their loan applications were scrutinized more closely and that they were required to provide more information and collateral than their White counterparts.
Limited Expansion
Since the bulk of many Black owned businesses tend to offer specialty goods and services that cater predominantly to other Blacks it is difficult for many of these Black business owners to expand beyond their market and attract a more diverse customer base resulting in limited opportunities for growth.
Flawed Perception
There are an increasing number of Black business owners who feel that many have the perception that Black owned businesses are inferior to other owned businesses as it relates to skill, reliability, and quality.
Many Black business owners find that they face a difficult time accessing the capital needed to fund their business ventures. They felt that their loan applications were scrutinized more closely and that they were required to provide more information and collateral than their White counterparts.
Limited Expansion
Since the bulk of many Black owned businesses tend to offer specialty goods and services that cater predominantly to other Blacks it is difficult for many of these Black business owners to expand beyond their market and attract a more diverse customer base resulting in limited opportunities for growth.
Flawed Perception
There are an increasing number of Black business owners who feel that many have the perception that Black owned businesses are inferior to other owned businesses as it relates to skill, reliability, and quality.
PUBLISHED: JANUARY 8, 2017
They cite a lack of diversity in scoring private and government contractors because the decision makers with the power to award such contracts feel more comfortable doing business with people who look like them.
You may find that as a Black business owner you agree with these observations whether through your own personal experiences or through the experiences others have shared with you, but the truth of the matter is, despite all of these obstacles Black business owners like you possess the skill, talent, and ambition to overcome.
Will it be easy? Probably not, but it’s not impossible. If you are driven to succeed and are willing to sacrifice, get creative, start small, and fight then there is nothing and no one that is able to stand in your way!
You may find that as a Black business owner you agree with these observations whether through your own personal experiences or through the experiences others have shared with you, but the truth of the matter is, despite all of these obstacles Black business owners like you possess the skill, talent, and ambition to overcome.
Will it be easy? Probably not, but it’s not impossible. If you are driven to succeed and are willing to sacrifice, get creative, start small, and fight then there is nothing and no one that is able to stand in your way!
Many Black business owners find that they face a difficult time accessing the capital needed to fund their business ventures.
SEVERAL TIPS TO HELP YOU DEAL WITH STRESS
TURNING YOUR BUSINESS INTO A BRAND
SMART MONEY ATTITUDES FOR SMALL BUSINESS OWNERS
SUCCEEDING NO MATTER WHAT THEY SAY!
YOUR SMALL BUSINESS TO DO LIST
Let us help you find the great employees your small business needs!
MAKE YOUR CUSTOMERS FALL IN LOVE WITH YOUR BUSINESS