Finance Friday 10.30
Learn about finance and add your business to our For Us Directory!
“We have a tendency of trying to network up, but it’s really about networking across.” -@IssaRae
“As a fact, the capitalist of today was the labourer or worker of yesterday…. Hence, the man who wants to go into business commercially, industrially or agriculturally, and win a fortune for himself, cannot and should not be a Communist, because Communism robs the individual of his personal initiative and ambition or the results thereof. Democracy (interchangeable with capitalism), therefore, is the kind of government that offers the individual the opportunity to rise from a labourer to the status of a capitalist or employer.” -Marcus Garvey”
Finance Friday
One of the issues that we have within our community is making money with our community. But take a breath and relax, because it is definitely easier than we believe.
We here at the For Us Nation want to assist in creating, and promoting investment opportunities, grant opportunities, and financial tips so that we can grow together. The key is ownership and the lock is financial literacy.
So lets start by uplifting some community members that are leading by example and creating opportunities.
Check out The Freedom Georgia Initiative. This group consists of 19 Black families who have purchased 97 acres of land in Georgia in an effort to build a safe Black-owned community. Freedom Georgia hopes to be an innovative model for self-sufficiency, environmental sustainability, and cooperative economics among BIPOC communities across the African Diaspora globally.
Lets support our Business Community
Investment Clubs
Typically consists of 10–20 people, most often comprised of family members, friends and or people from all walks of life who meet regularly to learn investment principles, portfolios ( a combination of stocks , bonds and investment properties.
Principles
-Invest a set sum once a month in common stocks regardless of general market conditions. This helps obtain lower average costs.
-Reinvest dividends and capital gains immediately. Your money gains faster if earnings are reinvested. This is the 8th natural wonder in effect (compound income).
-Buy growth stocks. These are companies whose sales are increasing at a rate faster than industry in general. The companies should have good prospects for growth. In other words, they should be stronger companies 5 years from now.
-Investment in different fields. Diversification helps spread risk and opportunity.
Despite the fact that investment club members may be considered non-professional among money managers, the overall performance of the stocks that they select for investment is remarkable as noted by Black Enterprise magazine. They aim growth and regular investing.
Investment Clubs can be engaged in entrepreneurial ventures. Though traditionally conservative Investment Clubs, particularly African American clubs may cautiously invest in fledging Black-owned corporations are well established Black-owned corporations seeking public financing. Through investing in Black-owned companies African American and Pan African Investors may help to initiate and sustain the growth and development of African American and Pan African enterprises as well as earn acceptable returns on their investments.
Through an investment committee or an asset management organization large Black organizations may form an investment consortium as a way of investing a relatively large sum of money regularly and earning sizeable ventures to be reinvested or invested in part in economic development projects. There now exist enough persons and corporations in the African American and Pan African community with the means and wealth for founding mutual funds initially worth at least $100–200 million.
Whether as small intimate clubs of investors or large formal clubs Pan African community as investors are crucial to the economic development and polito-economic empowerment of the Pan African community as a whole. Deep knowledge of how the markets works, the development of a keen ability to invest in and use it , are not only vital for long-term personal or small group gain but crucial to the expansion of the Black-owned business establishment into the broader and international market place.
Grants
Finding funding within your community may still be an issue, even after beginning an investment club. Business grants are always a great option as well. Below are some resources for small and minority businesses.
CARES Act: Coronavirus relief and SBA loans for small businesses.
Please visit African American grants and NerdWallet to see the full list of small-business loans for minorities.
Grants.gov allows grant seekers to find and apply for federal funding opportunities. It contains information on more than 1,000 grant programs across all 26 federal grant-making agencies, including the Department of Commerce and the U.S. Small Business Administration.
USDA grant for the development or expansion of small businesses in rural areas — minority-owned or not. To qualify, you’ll need to have 50 or fewer employees, less than $1 million in revenue and be located in an eligible rural area. Grants typically range from $10,000 to $500,000, and can be used for a variety of purposes, including training and technical assistance, acquisition or development of land and long-term business planning. Applications are accepted through the USDA’s Rural Development’s state offices once per year.
Nonprofit trade association provides educational resources and grants for small businesses and entrepreneurs. To apply for a grant of up to $4,000, you’ll need to become an active member of the association, provide a detailed explanation of how you’ll use the funds, show how the grant will support your business growth, and provide supporting documentation.
The Minority Business Development Agency. This development agency of the U.S. Department of Commerce promotes the growth of minority-run small businesses by connecting owners to financing resources, federal contracts and market opportunities. You can contact a local MBDA business center for more information.
The Amber Grant for Women was created to help minority women achieve their dreams to start an entrepreneurship. This was an initiative by the government in which every month a winner is selected and given $500. At the end of the year, one of the twelve monthly winners will be given $1000. These enhanced grants for minority women enabled them to get their lucky angels in the form of investors and mentors. The lucky part is that you don’t need any form of capital. The application only demands an introduction of the idea you have in your mind.
The Halstead Grant is especially for the women who are in love with the jewelry and have plans to start a business in the same field. The grants awarded by this program are in large numbers. Every year a winner who is selected will be receiving $7500 and another $1000 in supplies. The program also offers other perks for these minority women. The finalists will be receiving $250 for the top ten placements and $500 for the top-five placements.
The New Voice Fund is a funding program established by the SheaMoisture haircare and skincare products founder Richelieu Dennis which is worth about $100 million. The fund is geared for women entrepreneurs of color at the annual Essence Festival.
The funding was established to help bridge the gap of female entrepreneurs and create opportunities for minority women who may be interested in learning more significant changes the world of women business funding is going, particularly in the wake of the challenges that minorities face when it comes to anding an idea getting approved for funding.
Again please visit the NerdWallet and African American Grants website for the more extensive list. Also, please continue to check our newsletters every Friday for more resources on grants.
Visit PointedSpaces.com
For Us:Business Highlight
For Us wants to bring light to our members and make sure that we assist our Nation in networking across in order to build up.
We would like to uplift Open Market by PointedSpaces!
PointedSpaces.Com
Email: PointedSpaces@gmail.com
Follow: @PointedSpaces and use #letscreatemagic
Register for their Black Friday and/or Cyber Monday Live Virtual Market.
Open Market is the epicenter of creativity, community, innovation, and social impact.
"We are a LIVE curated marketplace that cultivates conscious consumerism. We create opportunities for BIPOC businesses to showcase their products and services, including but not limited to beauty, wellness, fashion, business, and life coaching, consulting, and lifestyle remedies."
"Our driving mission is to curate spaces for underrepresented people that encourage and inspire financial equity, wellness, and creative expression."
If you are in the NYC area come to our Creative Kickback Meet Up 10/31