• Alahna Nicolas

Business| Taking Advantage

Today on live we were discussing the importance of using your resource. Minority businesses have been struggling to reach the next levels of “success”, we are often plagued with negative connotations when concerning the development of our businesses. According to the Bureau of Labor and Statistics twenty-percent of small businesses fail within the first year and fifty-percent after the first five years and the numbers for minority business that succeed are not surprisingly low. Economic opportunities are relatively low. Could it be due to lack of support within our organizations or are we just not taking full advantage of what’s available in our communities. Being a full time entrepreneur I have found it to be a little of both but it boils down to the lack of financial resources available and not placing all the blame on “the system“ but to regain a sense of ownership. I believe if we collectively educate one another on grants and other funding opportunities within our city and state we can produce at minimum capital to begin healthy growth. One of the guest mentioned crowd funding in way of events, but relying on the same community that is experiencing the same ecomnic challenge to be a basis for start-up has been detrimental to the life span of local business. I can’t help but wonder what it would look like if the owners of these businesses all got together, went to the local chambers, researched funding for the area, worked with banks that give FREE education on how to build business credit and we stategically apply for capital that will give us the ability to manufacture, own our buildings and the land in which their built. We can’t all get turned down... right? It is my hope we can come together to change the narrative of how we do business and impact the communities they serve. It’s time to take advantage!

Let me put my money where my mouth is... I have attached a link for small businesses to apply to become a registered minority business in the state of Florida to reap benefits offered. Let’s all start here if you haven’t done so already.