All Articles Tagged "small businesses"
From Black Enterprise
The Securities Exchange Commission finally voted to release the proposed rules for Title III of President Obama’s JOBS Act, which will permit startups and intermediaries (funding portals) to finally participate in equity-based crowdfunding—allowing non-accredited investors to invest in crowdfunded offerings for the first time in 80 years. Entrepreneurs can now sell securities online to anyone who believes in their companies.
With Title III in place, investors don’t have to have $1 million net worth in order to invest in small businesses. Commissioner Kara Stein noted in a release that the rule would allow investors to use the wisdom of the crowd to identify and reward good ideas.
Oregon’s Senator Jeff Merkley, one of the drafters of the crowdfunding provisions in the JOBS Act, has stated: “This law will make sure entrepreneurs can use online tools to find investors, and make sure investors can put their money into exciting projects without worrying about getting ripped off.”
This major shift in securities laws could mean the emancipation of capital for minority and women-owned businesses, who traditionally have struggled with gaining access to capital through traditional means. More minorities and lower net worth individuals will be able to get in on investments that can drive more wealth generation to their communities.
Read more at BlackEnterprise.com
From Black Enterprise
Black Enterprise has developed a program called Small Business University. It is geared toward guiding small business owners to be successful and practical vendors. In this episode of Small Business University Ramon Ray, who is a marketing and technology evangelist for InfusionSoft and Small Biz Technology shares with readers the fundamental skills in social media. He helps business owners with email marketing, building their website and how to grow their following.
If you are interested in this Black Enterprise series, check out BlackEnterprise.com
There are many small businesses that are also government contractors. They will also feel the impact from delayed loans and work stoppage. And many of these government contract workers are black-owned small businesses.
“Black businesses are impacted at a higher number than the general population,” said Representative Donald Payne, Jr. (D-NJ), who serves on the Small Business Committee in Congress.
One such person is Staci Redmon, who is president and CEO of Strategy and Management Services based in Springfield, Virginia. Her 95-employee firm has six new federal contracts scheduled to start on October 1st. Her company, which receives SBA loans and participates in other programs under the SBA, generates 100 percent of its revenue from federal contracts.
Redmon will probably have to lay off 10 percent of her staff.
Redmon is just one of the many African-American small business owners whose companies will be hurt by the shutdown. The question is, how many will be able to survive?
Each day it seems, President Obama is answering questions about The Great Recession, whether or not the economy is getting better, and what we’re doing to make that happen. He answered those questions directly for Black Enterprise EIC Derek T. Dingle.
“The African American community ends up being hurt during recessionary times more than the population at large,” the President said during the exclusive interview. “[The] African American unemployment rate is still way too high. You had a credit crunch for small- and medium-sized businesses that disproportionately impacted African American businesses. But part of what we have been able to do is to specifically focus on disadvantaged businesses, disadvantaged communities.”
President Obama also talks about the administration’s support for black entrepreneurs, unemployment in the black community, and the impact of predatory lending.
“I told every single member of my cabinet, ‘I want you to increase transparency, simplify the process, make sure that the goals that we have for small, minority-, women-, and veteran-owned businesses are prioritized inside your agency, and think about other ways that we can break up these contracts into smaller pieces so that smaller businesses could actually bid for them,'” President Obama added.
The Presidential election is in full swing with fewer than 100 days left until we head to the voting booths. For more from President Obama about these important issues, visit BlackEnterprise.com.
Small businesses are the backbone of the American economy. For months now politicians have been encouraging shoppers to support independent store owners within their communities. We say why not show the sistahs some love. Black women have boutiques, wine stores, and a myriad of ways to help shoppers looking for a unique experience find exactly what they’re looking for. Here’s a list of some black women, with boutique businesses worth supporting:
Ooh La La Fashion boutique in Atlanta is owned and operated by fashionista Ronni McBride. The African American proprietor’s store promotes many Italian designs and showcases lines that are mostly European influenced. The store features innovative designers from around the world as well as talented locals. In addition offering fashion forward clothing, the boutique offers a range of unique and even custom made accessories including precious stone jewelry, purses, shoes, and hats.
(Technorati) — An entrepreneur starting a small business today is taking a gamble. According to the Small Business Administration, 50 percent of all businesses fail within the first five years. But the help of a business expert can mean the difference between small business failure and small business success – 90 percent of successful small businesses reported they sought out expert help, according to a Dunn & Bradstreet study.
(Phoenix Business Journal) — Americans aren’t as entrepreneurial as they used to be, according to two new studies. The Global Entrepreneurship Monitor found that only 6.9 percent of Americans were involved in early-stage entrepreneurial activity last year, down from 10.6 percent four years earlier.
The only increase in activity in 2009 came from necessity-driven entrepreneurs — those who started a business because they needed a job, not because they saw new opportunities. That’s not a good sign for an innovation-driven economy, according to researchers at Babson College and Baruch College, which conducted the study.
(Inc) — Serial entrepreneur Brad Oberwager founded Sundia (No. 130) in Oakland, California, in 2004 with the goal of creating the first national watermelon brand. To that end, he began licensing the Sundia brand to watermelon distributors, including Timco Worldwide, which packages and transports the fruit grown on this 5,000-acre farm in Bakersfield, California. Distributors, in turn, benefit from Sundia’s nationwide promotional campaigns, deals on bulk packaging, and other perks. In the past year, the $6.1 million company has shifted its focus to sales of fruit cups, none of which feature watermelon, in stores such as Kroger and A&P.
(Entrepreneur) — Troubling statistics have been rolling in lately about job losses. While the beginning of the recession saw the shedding of thousands of jobs en masse at major corporations, by the end of last year, job cuts were concentrated at small businesses. While financial aid aimed at small businesses continues to sit in the Senate, the Bureau of Labor Statistics reported 62 percent of cuts were at firms with less than 50 workers — the kind that provide nearly one-third of all jobs.
(Inc) — The phrase “The only certain thing in life is that nothing is certain” comes courtesy ofPliny the Elder, an ancient Roman philosopher and military commander. And it seems fitting nearly 2,000 years later as a description of today’s economy. Over the last few months, I’ve written that the economy was showing signs of stabilization, but I wasn’t ready to call it a recovery. In light of this month’s SurePayroll Small Business Scorecard, I’m glad I haven’t.