Business Strategy

Prospera will recognize local, small, Hispanic-owned businesses

Prospera | October 11, 2022 | Read time : 01:09 min

Prospera will recognize local, small, Hispanic-owned businesses
Prospera's traditional Hispanic Heritage Month celebration is returning in person with a new schedule and format after two years of virtual programs. Presented by Duke Energy, the 2022 Prospera Success Stories event was postponed from its original date due to Hurricane Ian, and will now take place on Thursday, October 20 from 9:00 a.m. to 11:00 a.m. at Armature Works in Tampa. It will gather local government, corporate executives, small business owners, key partners, and volunteers of Prospera.Five successful small businesses from Florida's West Coast region will be featured, selected among Prospera's local clients based on their demonstrated success and growth. Representing various industries, they have received Prospera services for several years and, despite pandemic-related challenges, come out stronger than before—the theme for this year's event. The program will be led by Prospera Regional Vice President Fabian Yepez and will also highlight some of Prospera's funders, volunteers, and partners. To learn more, visit the event website. Along with Presenting Sponsor Duke Energy, the event is sponsored by Hosts City Furniture, TECO, Truist, Visit Tampa Bay, and Wells Fargo; Champions Hill Ward Henderson, JPMorgan Chase, Nielsen, and Suncoast Credit Union; and Leaders Bank of America, GTE Financial, Tampa Bay Rays & Rowdies, and TD Bank. Prospera is an economic development, nonprofit organization that since 1991 has specialized in providing bilingual assistance to Hispanic entrepreneurs who want to start, sustain, and grow their business. In the last five years alone, Prospera has facilitated over $61 million in loans, trained over 18,000 entrepreneurs, and helped consulting clients create or retain over 16,000 jobs. It currently serves Florida, North Carolina, and Georgia. For more information, visit prosperausa.org.

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FINANCE

BILL Unveils the Only Platform for SMBs: Integrating Finance

BILL | September 11, 2023

BILL, a leading in financial automation software provider for small and midsize businesses (SMBs), has announced the introduction of a new BILL Financial Operations Platform for SMBs, which integrates category-leading solutions across accounts receivable (AR), accounts payable (AP), and expense and spend management. With this new launch, BILL is delivering the most extensive capabilities for SMBs to enhance and manage cash flow within a single platform. According to BILL's State of Finance Automation report for 2023, over 80% of respondents believe that automation is essential for managing their finances in order to achieve more strategic business objectives. Bill payment is crucial, but they are also seeking more comprehensive and integrated solutions for managing more of their cash flow. The challenge is that, until recently, many SMBs were required to manage their incoming and outgoing cash flow across disparate systems and applications that are not integrated. With the latest integrated financial operations platform by Bill, SMBs can acquire better real-time business insights into their cash flow. In addition, businesses can optimize their cash flow more effectively with a variety of payment and funding options, such as Pay By Card, international payments, virtual card, the BILL Divvy Corporate Card, and real-time payments like instant transfer. The BILL’s New Financial Operations Platform includes: BILL Accounts Payable automates the complete AP process to simplify invoice entry for SMBs by leveraging data capture and artificial intelligence to streamline approvals. It also offers flexible payment options, enhancing the efficiency and transparency of financial operations. BILL Accounts Receivable automates AR through invoice generation, estimations, payment tracking, and collections, allowing SMBs to be paid quicker via ACH, credit, and debit cards. BILL Spend & Expense is an all-inclusive expense and spend management solution that incorporates free software with corporate cards to offer SMBs customizable control and real-time visibility over their business finances. To simplify the customer experience, Divvy from BILL will now be known as BILL Spend & Expense. The features and capabilities of Divvy, such as setting budgets, monitoring expenses, and gaining access to the credit businesses need to expand, will remain unchanged. Irana Wasti, Chief Product Officer at BILL, mentioned, “By offering ongoing innovation in our platform, BILL continues to revolutionize the way SMBs and accountants use financial automation to succeed. We’ve pioneered a more integrated and exhaustive experience to provide SMBs the ability to enhance and manage their financial operations in one place – assisting them make the right financial decisions so their businesses can thrive.” [Source – Business Wire] About BILL BILL, headquartered in California, is the industry-leading financial operations platform for small and midsized businesses (SMBs). As an advocate for SMBs, the company is automating the future of finance so that businesses can flourish. Its integrated platform enables businesses to more effectively manage their payables, receivables, expenditures, and expenses. Hundreds of thousands of businesses rely on BILL's network of millions of members to pay or get paid faster. BILL is a trusted partner of prominent U.S. financial institutions, accounting software vendors, and accounting firms.

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IDEAS

Carver's Microloan Program Paves the Path for NYC's Small Businesses

Carver Federal Savings Bank | September 25, 2023

Carver Federal Savings Bank, a certified Minority Depository Institution (MDI) and a Community Development Financial Institution (CDFI) is driving economic empowerment for small businesses in New York City through its innovative microloan program. This program plays a crucial role in facilitating entrepreneurs' access to capital for business expansion in the post-pandemic era. Carver employs algorithm-based software, transcending the limitations historically imposed by traditional credit scores, which have hindered the borrowing eligibility and capacity of black and brown entrepreneurs. The ongoing challenges small businesses face in Carver's community persistently weigh them down amidst economic headwinds. Notably, 41% of small businesses owned by black and brown entrepreneurs have either shuttered or are on the brink of closure due to the financial hardships stemming from the pandemic. Furthermore, it is worth highlighting that approximately 45 million adults in the United States lack traditional credit scores. Carver's microloan program fills a crucial void by providing essential capital ranging from $5,000 to $50,000 to small business entrepreneurs. This initiative addresses the longstanding challenges associated with securing small-dollar loans and capital in Carver's communities. The bank's dedicated efforts are yielding tangible results, invigorating local economic activity. Michael T. Pugh, President and Chief Executive Officer of Carver Federal Savings Bank, said: "Carver's mission is to provide access to capital and to be champions for the underserved community in New York City." [Source – Cision PR Newswire] He mentioned that their microloan program represented an opportunity for them to assist small businesses in recovering from the pandemic and economic downturns while working towards a prosperous future. Pugh further expressed gratitude to Charter Communications, Webster Bank, UBS, M&T Bank, and all their partners who had played a crucial role in the successful launch of their new microloan program. About Carver Bancorp, Inc. Carver Bancorp, Inc. is the holding company for Carver Federal Savings Bank, a renowned federally chartered stock savings bank. Headquartered in Harlem, New York, the company was established in 1948 with the mission to serve African-American communities where businesses, residents, and institutions had limited access to mainstream financial services. Recognized by the U.S. Treasury Department as a Community Development Financial Institution (CDFI), Carver stands out for its community-centric banking services and unwavering commitment to enhancing the economic vitality and revitalization of its local community. The company holds the distinction of being one of the largest African- and Caribbean-American-managed banks in the United States.

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TECHNOLOGY

Norton Introduces New Small Business Solution with 24/7 Triple-Lock Cybersecurity for Small Teams

PR Newswire | September 29, 2023

Norton, a leading consumer Cyber Safety brand of Gen™ (NASDAQ: GEN), today announced Norton Small Business, the all-in-one cybersecurity solution to help entrepreneurs and small business owners protect their financial futures. While nearly 90%1 of businesses globally are small businesses - 99.9% in the US2 - many lack the means to protect their digital environments. Norton Small Business makes triple-lock protection accessible for small businesses to safeguard their team's online activities, devices and customer data in an easy, all-in-one cybersecurity solution. "Owning a very small business often means each member of the team wears different hats, and usually cybersecurity expert isn't one of them," said Massimo Rapparini, General Manager & Head of Small Business Safety at Gen. "Unfortunately, cybercriminals are aware of this and often target such businesses – more than half (57%) of small businesses experienced a security, data breach or both in 20223. For entrepreneurs and small businesses, falling for just one phishing email can have a devastating impact." Scams Taking Down Small Businesses Small businesses face a barrage of scams and phishing threats, just like consumers. In fact, they are targeted more than large companies. Companies with fewer than 100 employees face an average of 350% more social engineering attacks than larger enterprises4, and according to data from Gen, cyber threats that rely on manipulating people account for 85% of attacks on small businesses in the US. Of these threats, phishing – for example, emails trying to trick you into clicking a link or transferring money – is the most common way cybercriminals try to access small business systems, private data, financials and intellectual property. Businesses with under 10 employees often lack IT support, putting companies at great risk if cybercriminal attacks are successful – and many are. In 2020 alone, there were more than 700,000 attacks against small businesses totaling $2.8 billion in damages5. Norton Small Business helps small businesses disaster-proof their critical data to minimize the risk of financial loss. Entrepreneurs Pursue Financial Freedom Entrepreneurs often start their own businesses in pursuit of financial freedom and invest significant time, energy and personal savings to build their business. In fact, 61% of Gen Z small business owners believe entrepreneurship will lead them to retirement earlier than if they had gone straight to the corporate world6. Yet, small businesses are being heavily targeted by cybercriminals, leaving them at much higher risk of collapsing compared to larger firms when hit by a cyberattack. With heightened risk and so much at stake, it's surprising that about half of businesses with under 50 employees have no cybersecurity budget at all7. The effects of a cyberattack extend beyond financial consequences, and it's time cybersecurity is pushed to the forefront of small business priorities. Setting Up Your One-Person IT Department Norton is your go-to partner to make small business cybersecurity simple with an all-in-one solution that provides 24/7 cybersecurity protection and a variety of features, including: Secure Browser, Password Manager and VPN (virtual private network) to help secure day-to-day online activities Automated PC cleaning and optimization to keep healthier PCs for longer Secure Cloud Backup for PCs to help reduce the risk of loss of business data Software and driver updaters to help keep software up to date, so there are fewer vulnerabilities for cybercriminals to exploit IT coverage and maintenance for up to 20 devices A 100% Virus Protection Promise8 "We've built our small business products and services with the same approach in mind as we do with our consumer portfolio, so entrepreneurs don't need to worry about becoming cybersecurity experts," said Rapparini. "Norton is here to make cybersecurity accessible and easy so they can focus on building thriving businesses." Norton recommends these top 10 tips to protect your small business: Learn tospot signs of phishing andteach your employees Only click links or download attachments from known sources Avoid sharing personal information or private company data over email Alwayskeep your operating system, applications and drivers up-to-date Make sure yourWiFi network is protected with a strong password Regularlyback up your data Require employees to use aVPN when doing company work on a public WiFi network (think airports and coffee shops) Alwaysuse multi-factor-authenticationfor an extra layer of protection Don't neglect mobile devices – make sure they are password protected and use security software Invest in a cybersecurity solution such as Norton Small Business About Norton Norton is a leading Cyber Safety brand of Gen™ (NASDAQ: GEN), a global company dedicated to powering Digital Freedom through its family of trusted consumer brands including Norton, Avast, LifeLock, Avira, AVG, ReputationDefender and CCleaner. Gen empowers people to live their digital lives safely, privately, and confidently today and for generations to come. Gen brings award-winning products and services in cybersecurity, online privacy and identity protection to more than 500 million users in more than 150 countries.

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Technology

Thryv's Sweeps Industry Awards Dominating the SMB Software Landscape

Thryv | September 07, 2023

Thryv Holdings, Inc., a prominent provider of software platforms for small and medium-sized businesses, recently garnered significant industry recognition for its award-winning SaaS technology. These accolades include Best SaaS Product for SMBs and SMEs, Best SMB CRM Solution, and Best Business Management Software Platform, received from esteemed awards programs such as the World Future Awards, MarTech Breakthrough Awards, and the 2023 SaaS Awards, as well as its consistent ranking in the top 10 of Selling Power's 50 Best Companies to Sell for 2023. Here are some key highlights of the recognition: Best SMB CRM Solution: Thryv Marketing Center was honored with this prestigious award from the MarTech Breakthrough Awards program, a renowned market intelligence organization that acknowledges top companies, products, and technologies in the global marketing, sales, and advertising technology sectors. This recognition comes after being selected as one of the best among more than 3,500 nominations spanning 19 countries. Best Business Management Software Platform: Thryv Business Center was recognized with this accolade at the World Future Awards, highlighting it among the best products, software, and services poised to reshape the global economy and shape the future landscape. Best SaaS Product for Small Business and SMEs: The 2023 SaaS Awards recognized Thryv's SaaS product as one of the finest in the world of software and Software-as-Service. Top 8 Global Ranking: Thryv secured the 8th position in the highly competitive Selling Power's 50 Best Companies to Sell for 2023 list. This marks the company's sixth consecutive appearance on the list, with each year showing an improvement in its ranking. Ryan Cantor, Thryv’s Chief Product Officer, commented, “Our SaaS platform helps business owners across the globe to quickly and easily build, manage and strengthen customer relationships, and ultimately grow their footprints. This latest recognition is testament to our talented team, innovative SaaS technology and great customers, and it reinforces how Thryv helps small businesses succeed.” (Source - Business Wire) About Thryv Holdings, Inc. Thryv Holdings, Inc. is a leading small business management software solutions provider, serving a diverse clientele of over 55,000 small to medium-sized businesses (SMBs). Its acclaimed SaaS platform, Thryv, empowers these enterprises with the essential tools to modernize and grow their operations, enabling them to navigate and succeed in today's dynamic economic landscape. Additionally, the company oversees the digital and print presence of more than 400,000 SMBs, harnessing proprietary local online and print directories, along with integration into popular social media and search engines to foster connections with local consumers. This holistic approach aids businesses in acquiring new customers and bolstering their bottom line, cementing Thryv Holdings, Inc.'s commitment to providing comprehensive and innovative solutions that empower SMBs to thrive in a fiercely competitive market.

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