socially responsible investing

3 Tips for Success from Minority Entrepreneurs

Minority-owned enterprises made up more than 50% of the 2 million new businesses started in the United States in the past 10 years, according to the US Senate Committee on Small Business and Entrepreneurship.  There are now more than 4 million minority-owned companies in the US, boasting annual sales of around $700 billion, altogether.

As the US Senate Committee on Small Business & Entrepreneurship noted, there is still a disparity in access to capital and entrepreneurial development opportunities for minority-owned firms. “Though minorities make up 32% of our population, minority business ownership represents only 18% of the population.”

Minority entrepreneurs face a unique set of challenges in navigating the path to business success. Three minority entrepreneurs in Calgary, Alberta, shared their advice in a recent article in the Calgary Journal.  Eddie Richardson, president of Genesis Basketball; Joyce Okunsi, CEO of Joyce’s Closet; and Beni Johnson, founder of 10at10 media platform have all launched successful businesses in the face of discrimination and financial barriers.

  1. Don’t let stereotypes define you

“Whenever I was given a job or a task I would always try to be the most educated on it.” said Johnson. “People were racist in their ways. If something does not look like you, people get afraid of it, so it was a combination of many things.”

  1. Don’t let barriers stop you

“In fashion, I faced many barriers. I had to work twice as hard to prove my credibility as a stylist. Because I am a black woman, I was excluded from many things that I should have been a part of.” said Okunsi.

  1. Don’t forget that your experiences are valuable

“I’ve worked through a lot to get to where I am and I still have a lot ahead of me,” said Richardson. “I hope that my story inspires others to never settle and to push through adversity because anything is possible.”

Value Added Services

Seeds of Change: Women Entrepreneurs and the Wellness Sector

Women entrepreneurs are drawn to the wellness and healthy living sector. As consumers of every generation increasingly focus on health and wellness, female entrepreneurs and business leaders will be big beneficiaries.

Women-Owned Businesses Soar

Each day, women launch around 850 new businesses in the U.S., and the number of firms headed by women has increased by more than 40% since 2007. Women are now the majority owners of an estimated 11.6 million businesses in the country—39% of all U.S. businesses — according to the 2017 State of Women-Owned Businesses Report.

Healthy Growth in Wellness Sector

The growth in women-owned companies is marching in unison with another major trend — the rapid expansion of the healthy living sector. According to data from the Global Wellness Institute, the wellness industry grew by 10.6% worldwide between 2013 and 2015 and accounts for revenue of $3.72 trillion on a global basis. It is now a key part of the second-largest sector of women-owned businesses in the U.S., following services such as nail and hair salons and pet services.

See the full article of CI executive director Denise Bedell’s latest work for ThisIsCapitalism.com:

Seeds of Change: How Women Owners Are Driving Business Growth in the Wellness Sector

How Black-Run Newspapers Changed the World: Black History Month

To mark this year’s Black History Month, we’re taking a look at the impact and import of African-American journalism through the past century, specifically in the realm of Black-run Newspapers and their ongoing legacy in the modern landscape of journalism.

Black newspapers throughout the 19th and 20th centuries represented the first wave of media being tailored for specific audiences outside what was considered the mainstream, a trend that grew to encompass almost every minority group — and spread globally in a few scant decades. They serve as some of the few written records of African-American lives and culture spanning a period of over a century, and represent a treasure trove of historic documentation of black culture of the era.

Black-run newspapers, like Frederick Douglass’ North Star and Samuel Cornish’s Freedom’s Journal ,served simultaneously as sources of information connecting black communities around the U.S. — and beyond — and as ongoing rallying cries for the abolitionist and civil rights movements. They illustrate how powerful the media industry can be when it comes to influencing social and political change — and the media’s ability to connect communities and enable communication and organization.

Frederick Douglass, founder of the North Star. Source: National Archives and Records Administration

 

As of 2002, around 200 black newspapers remained in circulation. Black-run and black-focused media has suffered, alongside most other journalism outlets, with the decline of print media. But  a proliferation of news-media websites tailored to black communities took root online — and they offer valuable outlooks on the lives and culture of modern black communities on a more accessible platform than has ever before been available.

While the voice and the culture has changed and evolved with the times, the spirit of African-American journalism lives on in the digital publications of the modern age. Capable of reaching quite literally millions of people and encompassing a more diverse audience than ever before, the black newspapers of yesteryear paved the way for the digital outlets of today.

Aside from its value as a teaching point about the power of media, preserving the history of black newspapers will allow us to remind future generations of their ancestors’ impact on the world around them, with names like Frederick Douglass, Samuel Cornish, Daisy Bates, and Ida Wells serving as inspirations and role models for the the black community — and beyond.

Value Added Services

Socially Responsible Investing Gets a Boost from BlackRock ETF

Asset management giant BlackRock has partnered with market data provider Thomson Reuters to launch a new exchange-traded fund tracking companies that promote diversity and inclusion — enhancing its focus on socially responsible investing.

The ‘iShares Thomson Reuters Inclusion & Diversity UCITS ETF‘ will track Thomson Reuters’ Diversity & Inclusion Index, which ranks around 2,000 companies globally and includes the 100 most-diverse company worldwide, as measured by a set of 24 metrics.

The increasing availability of corporate sustainability data, as well as advancement in technology, has made it possible to better measure and understand metrics, such as inclusion and diversity, from an investment perspective,” explains Brian Deese, Head of Sustainable Investing at BlackRock. “At BlackRock, we are committed to being leaders in using new data and tools that deliver sustainable investment solutions at scale, which help to improve financial outcomes for our clients and accelerate the adoption of sustainable business practices globally.”