Author: Shon
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The Funding Gap That’s Defunding America
In February of 2023, Small Business Administrator, Isabella Guzman, warned that the lack of capital access for minority-owned small businesses is costing the U.S. economy hundreds of billions of dollars in lost economic output (1) During the 2023 fiscal year, the Federal Government, issued 63,000 SBA loans to small businesses with proceeds totaling just shy of $34… Read more
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A Legal Look At Affirmative Action
The Anti-Trust Law of 1890 along with nepotism are two reasons the Minority Business Development Agency (MBDA) may be able to make a strong legal case for affirmative action (race-based services). Eighty-seven percent of American businesses are family-owned or controlled. They represent 54% of U.S. GDP and 59% of employment, meaning family-owned businesses directly affect… Read more
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The 5 Basic Building Blocks Of Business Credit
Establishing business credit can be a very important step in the life of a business. Having access to credit is important whether the owner chooses to: Most owners will agree that having credit and not needing it, beats needing credit and not having it. It is always best to be prepared! Fortunately, establishing business credit… Read more
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Why Pursuing Funding Without A Pro Is Often Fatal
According to Investopedia, one of the most common reason a business fails is financing or funding issues. ~ Investopedia.October 2022 However, many business owners, especially those running, startups, small businesses and minority owned businesses, struggle to show that they can make good use of the funding being requested and they cause funding providers major concern. In… Read more
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The Pitfalls of Personally Funding A Business
The decision between using personal or business funding to operate a business is one that holds significant financial weight. It is a decision that should be considered carefully – especially if the business is new or has not yet established business credit. Some owners run their professional business like a side gig and when considering… Read more