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Small Business Financial Outcomes During The Covid 19 Pandemic
Entrepreneurs and industry leaders share their best advice on how to take your company to the next level.
Many organizations and government agencies aim to provide mentoring, financial assistance, networking and more to minority businesses.
From the Small Business Administration to various chambers of commerce, there are many organizations that offer various types of assistance to small business owners. – Getty Images / pixdeluxe
Minority businesses play an important role in the American economy, contributing more than $1.4 trillion in annual receipts. Although an estimated 8 million minority businesses have seen growth over the years, many new business owners may need help setting up. In addition, businesses with fewer employees affected by the closures and restrictions of COVID-19 may seek resources to help them continue.
Black Owned Businesses To Support
The Los Angeles-based Black Business Association (BBA), which celebrated its 50th anniversary in 2020, was founded with the goal of advocating and promoting the development of African-American businesses. Members of the organization have access to events, training, networking and a voice to create strategies that can help Black businesses.
Code2040, a San Francisco-based nonprofit organization working to bring racial equity to the technology sector, has a unique role in providing technology-focused minority businesses. In turn, the organization hosts events, training and knowledge sharing that works for Black and Latinx founders. Code2040 also plays a role in connecting Black and Latinx college students to jobs at established companies including minority-owned companies.
The Small Business Development Agency (MBDA), part of the United States Department of Commerce, works to provide assistance to minority-owned businesses nationwide. MBDA Business Centers provide a range of services to minority businesses, including technical assistance, training and access to finance, contracts and new markets.
The New York City-based National Hispanic Business Group (NHBG), a membership organization open to Hispanic entrepreneurs, business owners and professionals at the vice president level and above, works to create business opportunities for its members. NHBG hosts events that include an annual gala and “meetings with business executives from a variety of industries who want to add diversity to their business plans and improve their retail programs.”
Entrepreneurship, New Ventures, And Business Ownership
Check out this CO-Blueprint event to learn why it’s important to create a diverse and inclusive business model.
The Small Business Administration (SBA), part of the federal government, provides certification to small businesses through a program called 8(a).
The National Minority Supplier Development Council (NMSDC), the leading certification organization for minority-owned businesses, offers a variety of services to its members. Its primary role is to act as a liaison between members and corporations that wish to purchase a portion of its products and services directly from minority businesses. NMSDC also offers educational programs, trade shows and networking opportunities.
While the national SCORE organization is not only dedicated to helping minority businesses, it is widely recognized for its ability to provide free advice and education to businesses. Small businesses with limited staff can connect for free with one of SCORE’s 10,000+ volunteers for advice. It also offers free seminars and courses covering a wide range of small business topics.
Minority Small Business Grants: 12 Opportunities For Free Financing
The Small Business Administration (SBA), part of the federal government, provides certification to small businesses through a program called 8(a). Businesses with 8(a) certification are eligible to win government contracts and participate in a program where consulting businesses provide development assistance to protected businesses. In addition, 8(a) businesses can participate in the SBA’s 7(j) program, which helps minority-owned businesses with things like training, executive education and one-on-one marketing interviews. , accounting, opportunity. development and procurement, contract management, compliance and financial analysis.”
The United States Black Chambers (USBC) supports more than 130 African-American chambers of commerce and business organizations across the country, which in turn creates networking and advocacy opportunities for Black businesses. USBC also supports black businesses with a company directory, podcasts, educational webinars and more.
The United States Hispanic Chamber of Commerce (USHCC) promotes the economic interests of more than 4 million Hispanic businesses and supports more than 200 Hispanic chambers of commerce and trade associations across the country. It also encourages more financial investment from large public and private organizations in small Spanish businesses, supports international business opportunities, and organizes events including an annual conference and networking events.
The United States Pan Asian American Chamber of Commerce (USPAACC) is the largest non-profit organization representing Pan Asian Americans (including East, South and Southeast Asia and the Pacific Islands) and related business groups. USPAACC offers educational programs, assistance in targeting potential investors and assistance in obtaining commercial contracts. Members of the USPAACC include major corporations, government agencies and institutions, non-profit organizations, and Asian American business leaders.
Prudential’s Small Business Support
CO— is dedicated to bringing you inspiration from respected experts. However, before making any business decision, you should consult with an expert who can advise you based on your individual situation.
To stay on top of all the news that affects your small business, visit here for our latest small business news and updates.
CO is committed to helping you start, run and grow your small business. Learn more about the benefits of US small business membership. Chamber of Commerce, here.
Find out if the U.S. How the Chamber of Commerce can help your company grow and succeed in today’s rapidly changing business environment. Contact our team to learn how a small business membership can benefit you and help you achieve your goals.
When Black Owned Businesses Fail, It Hurts Everybody
*Minorities include American Indian or Alaska Native, Asian, Black or African American, Native Hawaiian, Hispanic/Latinx or Pacific Islander. Women-owned businesses are also eligible to apply.
The grant application is now closed because funding has ended for the last grant cycle in Nebraska.
With this support, I am able to start a line of herbal hair products and expand my services to include a hair restoration clinic. I did not know what funding… Then I found out about this wonderful opportunity. I applied and was awarded this grant. I cannot thank this organization enough.
Small Business Investment Company: What Is It?
I just wanted to send a message to get some donation money. It helps me a lot to meet my business debt obligations.
On behalf of Jai Publishing House Incorporated, I wanted to express my sincere gratitude for your generosity towards us! This global pandemic is proving to be a historic moment in our history, and I am proud to be part of a sacred publication that will stand the test of time. It is your financial blessings that will help us move forward in preserving our history in written and printed form.
As a global leader in payments and fintech, Fiserv has proudly served millions of small businesses with technology and payment solutions for over 35 years.
Fiserv is giving back to help small businesses get Back2Business through a program focused on helping Black and minority small businesses start up in underserved communities. Back2Business is designed to help stabilize and grow small businesses, through business consulting services, leading Clover payment technology solutions from Fiserv and financial support for employee salaries, rent or lease payments, operating equipment and supplies.
Minority Business Development Agency
To help us promote economic inclusion and create transformative change, we partner with AEO, which continues to connect with market partners who agree to collaborate to drive wealth creation in underserved communities.
Keir Zander is the Innovation Project Manager at AEO and joined the team in 2022. Keir has been working to democratize access to business and education for the past 15 years. His passion for this career began with his experience as an entrepreneur. Keir launched and grew three companies early in his career, including a training center in Guatemala that provided workforce preparation and language education for alumni. This experience taught him the important barriers to trade that plague resource-poor communities. Shortly after he joined the Community Investment Collaborative (CIC), a non-profit organization in the United States to help expand micro lending and entrepreneurship programs. As Vice President of CIC, Keir helped streamline the organization and build a culture of inclusion and smart decision-making. In 2019 Keir moved to Ho Chi Minh City, Vietnam, where he worked to support a rapidly growing business administration.