Feels Like the Hunger Games by Ernest Griffin.
Business owners do not have time to spend chasing after shadows and entering contests like The Hunger Games for business. What Minority Enterprises need are solutions and access to working capital. Joseph Kiefer from The Power Lender near Cincinnati Ohio gets it. "Minority Enterprises are being overlooked by so many lenders. It's as if these companies aren't even on the radar of my competitors and colleagues. The Minority Enterprise market is a blue ocean for me. There is a goldmine in marketing to and working with men and women entrepreneurs of color that is being overlooked. Partnering with these business leaders is not just good for my bottom line it's good for America. Many of these leaders are the real job creators we hear so much about." Click here to contact Joseph and find out how you can access more working capital and increase your cash flow.
Here is an excerpt from Carolyn's article taken from Inc.com May 31, 2011.
"It takes money to make money. That is the plain and simple truth in business. A shortfall of capital is one of the most commonly cited reasons why a company is unable to expand business and succeed. The prospect of getting financing for a start-up even in a growing economy is very difficult due to the fact that business owners lack operating experience and solid credit history.
America's credit crunch environment is making it tougher than ever for entrepreneurs to raise money to start or grow their businesses, particularly minority-owned firms. A study released by the Minority Business Development Agency found that minority-owned firms are less likely to receive loans than non-minority-owned firms, especially businesses with gross receipts less than $500,000. The tightening of lending standards on traditional loans means minority businesses have to become more vigilant about their funding sources.
Today, only 59 percent of small businesses are able to obtain adequate financing, reports the National Small Business Association (NSBA). That number has steadily decreased in the last five years. Banks don't finance dreams, says Todd McCracken, president of NSBA. They finance businesses that are likely to be successful. Your company has to have a good financial track record and a solid business plan, he adds.
Business owners must look past the SBA and beyond traditional lending sources, says Kedma S. Ough, business director of AVITA Business Center, a small business consulting firm headquartered in Portland, Ore., which offers targeted funding resources and grant opportunities. When working with its clients AVITA often examines non-traditional funding sources first, says Ough. For instance, minority entrepreneurs can consider participating in business plan competitions or industry specific contests."
Like it's said at the top of the blog, who has time to chase shadows and enter contests? This isn't the Hunger Games. If your company needs access to working capital there are solutions that might prove useful to you. Reach out to Joseph Kiefer 859-781-0211 over at The Power Lender and see if he can be helpful. No contests or hoops to jump through.
Click here to access Carolyn's full article.
