SMALL BUSINESS ADVICE

Visa and Visa Foundation Support Small Businesses

Visa | December 17, 2020

Supporting small and micro businesses (SMBs) has been an earnest need all through the COVID-19 pandemic, with an extraordinary need among minority-claimed small businesses, which are lopsidedly affected. Expanding on Visa's drawn out obligation to this network, Visa Foundation today declared new activities to give almost $5 million in funding to minority-drove SMBs, in the midst of a second influx of COVID-19. Visa likewise reported mentorship projects to additional help minority-drove SMBs. Simultaneously, the Visa Economic Empowerment Institute (VEEI) delivered another white paper, Supporting Social Equity by Boosting Small Businesses. The paper features that Black and African American-claimed businesses encountered a bigger drop in business possession (41 percent) than different businesses.

The VEEI white paper subtleties the recorded patterns and fundamental hindrances fueling the present status of Black-claimed SMBs across the U.S. It traces strategy measures to address these obstructions, zeroed in on aiding businesses endure, putting resources into value in instruction and in focused chances, for example, preparing and grant programs.

As part of its commitment to support SMBs and to address the challenges in access to capital of underrepresented groups broadly, including women and racial and ethnic minority communities, Visa Foundation commits the following:

$3 million to Black Ambition, a newly launched racial equity and entrepreneurship initiative launched by producer and entrepreneur Pharrell Williams in partnership with five Historically Black Colleges and Universities (HBCUs).

$1.5 million to Local Initiatives Support Corporation (LISC) to increase small business resiliency for women entrepreneurs of color directly impacted by COVID-19.

$300,000 to VC Include, a Women of Color-led organization building economic justice infrastructure for Black, Latinx, Indigenous, people of color, and women-led funds through education and training programs to support their fundraising journey and build relationships with Limited Partners.

“The capital gap for entrepreneurs of color must be closed if we are to achieve inclusive economic growth for everyone, everywhere,” said Graham Macmillan, president, Visa Foundation. “Visa Foundation is privileged to partner with these organizations that are addressing this funding and opportunity gap by helping them to empower women, Black and Latinx entrepreneurs. These grants represent just the beginning of our commitment to allocate capital, both grants and investments, to gender and racially-diverse investors and entrepreneurs."

Additionally, Visa recently launched a Visa worker mentorship program with Bridge for Billions. Through this online program, Visa representatives will tutor Black, basically ladies claimed SMBs on a three-month brooding excursion to help them audit their plan of action, characterize their monetary projections, make a development plan for their endeavor and substantially more. New businesses or beginning phase business people are urged to apply here by December 31, 2020, to be considered for the program beginning in February 2021.

Spotlight

Starting a Dairy Farming Business is a profitable business. Here is 10 Challenges to start a dairy farm. Dairy Farm in Bangladesh. Dairy Farm in India. Small Dairy farming business.

Spotlight

Starting a Dairy Farming Business is a profitable business. Here is 10 Challenges to start a dairy farm. Dairy Farm in Bangladesh. Dairy Farm in India. Small Dairy farming business.

Related News

MARKETING AND NETWORKING,BUSINESS STRATEGY

Tailwind Launches Expanded Email Marketing Capabilities in Continued Evolution as a Full-Suite Marketing Platform

Tailwind | July 16, 2022

Tailwind, a leading small business marketing software platform, has now made email marketing integrated with social content generation and scheduling accessible on all new Tailwind subscription plans, including the free plan. The move marks an important step towards Tailwind's vision of offering an end-to-end marketing automation experience for small business owners. "What we set out to create was a marketing system with unique tools that would save a lot of time, not a little, and would act like the marketing team our members needed," Tailwind's CEO and Co-Founder, Daniel Maloney. We started with social media scheduling and publishing in the distribution space, specifically for Instagram and Pinterest, and moved the core experience to multi-network with the addition of Facebook publishing. Now, we've added email creation and publishing to the offering so users can manage distribution on their most important channels from within our platform. Tailwind's users will now be able to manage their email list, create campaign emails personalized to their brand and build email automation workflows alongside their social media campaigns within the new tool. "Tailwind makes it easy to keep it all in alignment. I have so many tools and accounts and Tailwind makes it so simple, Without it, it's complicated so I don't send as many marketing emails as I should." -Christine Martell, Founder of Visuals Speak and Tailwind subscriber. We've found that a few repeated patterns really hurt small business success, including prioritizing just one or two marketing channels, not having a clear strategy or system, and struggling with the creative elements of marketing. Email marketing is no exception," says Paul Yokota, Lead Product Manager at Tailwind. By adding easy-to-use email capabilities with clear use cases within our product, we're alleviating the stress of managing that channel for small businesses. We're also providing the tools to help grow their businesses, save time and level up their marketing efforts across the board. About Tailwind: Launched in 2015, Tailwind is a leading small business marketing platform that helps entrepreneurs, creators, sellers and marketers plan, create and execute world-class marketing campaigns across digital marketing platforms including Email marketing, Facebook, Instagram and Pinterest.

Read More

FINANCE,BUSINESS STRATEGY

M&T Bank Launches Multicultural Small Business Innovation Lab for Connecticut Business Owners

M&T Bank | July 01, 2022

M&T today announced plans to open its Multicultural Small Business Innovation Lab in Bridgeport, Connecticut. This seven-week program is intended to assist local multicultural business owners in flourishing, growing, and pursuing new ideas by providing guidance and skills to expand and operate their businesses. Up to 50 entrepreneurs will be accepted into the program. M&T will collaborate with the Innovation Center at the University of Bridgeport. Classes will be held at the John J. Cox Student Center at the University. The Innovation Lab will cover topics such as creating a business plan, credit fundamentals, marketing, legal entity formation, and pitch tips, among others. The program will conclude with a pitch competition, with M&T funding grants of up to $6,000. Entrepreneurs who wish to participate in the program must submit an online application by August 5th, 2022, and must meet the following eligibility requirements: Black/African American, Hispanic/Latinx, or Asian American; No more than three years in business; and Annual business revenue of $150,000 or less. The M&T Bridgeport Multicultural Small Business Innovation Lab will begin on September 21, 2022 and conclude on November 2, 2022 with a pitch competition. "This program will have a positive impact not only on local businesses, but on the entire community, benefitting the area's multitude of talented and diverse entrepreneurs, Through our conversations with state and local officials, community leaders, academic institutions and many local business owners, we have worked together to deliver a proven approach that can help these businesses thrive and grow." -Frank Micalizzi, M&T Regional President and Head of Commercial Banking for Bridgeport, CT The Connecticut Multicultural Small Business Innovation Lab is part of M&T's bank-wide mission to create a culturally fluent bank that understands and addresses the needs of the communities it serves. M&T established the Multicultural Banking & Diverse Market Strategy segment in 2020 to specifically address the needs of multicultural communities, businesses, and individuals.

Read More

TECHNOLOGY

SMEs Can Now Afford Enterprise-grade Cyber Security with Penta

Penta | May 30, 2022

Cyber security is becoming a must-have for enterprises of all sizes in today's interconnected world. Both large and small businesses need comprehensive security solutions to protect them from threats that are becoming more complex and widespread. Businesses are increasingly employing and being exposed to a wide range of apps, networks, devices, and terminals, which increases the complexity and opportunity of security breaches. Cybercrime impact can be felt across data breaches, network and operation interruptions, loss of confidence, and increasing preventative costs, in addition to the financial damage, which reached close to $1 trillion last year. In this context, cyber security companies are constantly creating new technologies, countermeasures, and defense systems. "Given the complexity and the opportunity for cybercrime, a robust security management program must be able to mitigate IT risks, anticipate and respond to security incidents, and maintain compliance with rules and regulations. Failure in any of these areas will compromise effectiveness, usually with significant detrimental impact on bottom lines." -Farhad Khalilnia, CEO of Penta To introduce Security Information and Event Management (SIEM) systems as part of any effective Security Operation Center, security organizations use a combination of information and event management solutions (SOC). SIEM has been around for a decade, but it has evolved significantly from its original log monitoring function. It now employs cutting-edge software to continuously monitor and analyze telemetry and logs from IT infrastructure locations in order to spot anomalies and behavioral patterns that could indicate a problem. It collects data from a variety of sources and formats, and it can be handled either internally by IT security teams or externally as a service. In addition, IT risk solution portfolios must now cover a comprehensive spectrum of services, including governance, regulatory, and compliance requirements, as well as a host of complementary services such as policy development, insurance support, training and awareness, monitoring, and reporting, all based on thorough audits and assessments. The aim is to determine the optimal cost-benefit ratio that aligns with organizational needs in order to address real-world threats. Penta Sentinel, for example, aims to identify this sweet spot.

Read More