One of the most common mistakes for new businesses is creating a solution before identifying the problem. Like how BBA onboards or works with new business in the community, it is important to first conduct a business assessment analysis, using a systematic process that identify the gaps between current and desired business outcomes to understand what the problem statement is. Check out this article to learn more about this strategy for new companies.
Economic inequality is on the rise. Conversations on economic empowerment have been ongoing for decades, particularly in communities of color. Check out this article to learn about why we should support minority entrepreneurs to promote economic empowerment.
Capital access remains the most important factor limiting the establishment, expansion and growth of women-owned or minority-owned businesses. Given this constraint, the current financial environment has placed a greater burden on women entrepreneurs and minority entrepreneurs who are trying to keep their businesses thriving in today’s economy. Check out this article to learn the difficulty of accessing capital for women and minority business owners and take steps to increase chance of getting the best available funding.