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Entrepreneurship

Women Entrepreneurs Get Another Funding Option

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No surprise, women entrepreneurs have a harder time raising capital than their male counterparts. However, it is scaling companies — the 1% of companies raising venture capital to grow to be billion-dollar companies — that get all of the media attention. Far more entrepreneurs have more modest growth goals. These companies are more likely to seek loans.

Whether debt or equity, women-owned businesses use fewer types of financing options than their male counterparts, according to the 2016 Small Business Credit Survey: Report on Women-Owned Firms. Even when they are a low credit risk, they are less likely to get approved for a loan: 68% compared to 78% for their male counterparts.

Read full story @ Forbes

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Entrepreneurship

Entrepreneur Creates ‘Raising Black Millionaires’ Flashcards To Teach Youth About Building Wealth

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Representation is everything. In an effort to teach children about the importance of entrepreneurship and building wealth, a Black-owned media company based in New Orleans created a flashcard game that highlights the journeys of Black millionaires and billionaires, the Chicago Defender reported. The cards—which are a part of a collection dubbed Raising Black Millionaires Flashcards—features the stories of 52 entrepreneurs and business moguls who have garnered wealth across different industries. Each card includes the individual’s backstory and the awards and accomplishments that they’ve made throughout their careers. Entrepreneur Thiah Veona Muhammad, who created the cards, believed it was important for children to see examples of Black wealth outside of the entertainment and sports industries. “I think it’s imperative that we, as Black people, know who our millionaires and billionaires are, more specifically those who are in business and are non-entertainers/athletes,” Muhammad said in a statement, according to the news outlet. “Showing them real examples of people who look like them, making millions in various industries will not only help them to identify themselves as people of greatness, but it will introduce them to industries that they likely have never been exposed to before, giving them more career choices.” Amongst the business

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VIVICA A. FOX SHARES TIPS ABOUT HER HUSTLE

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Vivica A. Fox opened up about her illustrious career in Hollywood, running a business, and her unbeatable hustle earlier this month at the Enterprising Women of Color Forum, an event powered by the Minority Business Development Agency (MBDA) and Essence magazine.

The forum, which served to empower women entrepreneurs with wealth-building resources, was held at the National Museum of Women in the Arts in Washington, D.C., during the Congressional Black Caucus Foundation’s Annual Legislature Conference. The half-day event included an interactive workshop facilitated by Irene Walker, the program manager at Facebook’s Level Up, and a panel discussion moderated by reality star and entrepreneur Robyn Dixon of Bravo’s Real Housewives of Potomac.

Read more @ Black Enterprise

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BARBER OPENS HARLEM’S FIRST MOBILE BARBERSHOP AFTER GETTING PRICED OUT OF STOREFRONT

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Over the last decade, the sharp rise in the cost of housing, public transportation, and other life necessities make it challenging for the working-class to maintain a decent standard of living, especially in New York City. And, if that‘s not enough to contend with, gentrification is an economic weight making it even harder to keep one’s head above water.

Just ask Linwood Dillard, III. He is a 36-year-old lifetime resident of Harlem, NY, and a former business partner in the Designs and Lines storefront barbershop, until it was gentrified in 2017. The barbershop was equipped with a premium sound system and flat-screen televisions and was located in Central Harlem on Malcolm X Boulevard, and just two blocks from Martin Luther King Jr. Boulevard. Although Dillard believed in self-reliance and had a dream, the ruthless stranglehold of gentrification forced him out of business.

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