News & Insights

Protecting yourself from ATM and POS terminal skimming is more crucial now than ever. Criminals have found increasingly sophisticated ways to steal personal and financial information by installing covert devices at ATMs and point-of-sale terminals. These skimming devices capture sensitive card data that can later be used to create counterfeit cards or make unauthorized purchases. According to the FBI, skimming costs financial institutions and consumers more than $1 billion each year fbi.gov, and according to Coin Law, global ATM fraud has surged by 18% in 2023, with losses estimated at $2.4 billion.

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According to the National Institute of Mental Health (NIMH), 72% of entrepreneurs report experiencing mental health concerns, compared to 48% of non-entrepreneurs. Additionally, research published by Detroit Regional Chamber, startup business owners report the highest stress levels (72%) compared to owners who have been in business for more than 6 years (58%). Given these challenges, entrepreneurs should take into consideration to prioritize mental health not only for personal well-being but also for long-term business success.

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One of the most glaring manifestations of this double bind is the disparity in funding. According to New Jersey Business Magazine, women of color receive less than 0.2% of venture capital funding, highlighting systemic exclusion. Investors often subject them to heightened scrutiny, questioning their competence and vision while favoring their male counterparts. Studies show that identical business plans are rated lower when attributed to women, particularly women of color unless framed as "innovative." This forces women to overcompensate by emphasizing novelty, a strategy that can be effective but ultimately perpetuates inequity. As reported by the Columbus Dispatch, black women, despite founding 42% of new women-owned businesses, face loan denial rates three times higher than those of white-owned firms.

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Many entrepreneurs feel that their businesses can only flourish if they do. While many business owners focus on external strategies like marketing, operations, and sales, those who prioritize self-improvement often achieve greater long-term success. According to Brimco, 88% of organizations believe that leadership has a significant impact on business results.

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Charity scams exploit the goodwill of individuals by posing as legitimate organizations or causes to misappropriate donations for fraudulent purposes. According to the Federal Trade Commission, Americans reported losing over $300 million to charity scams in 2023 alone, a substantial portion of which involved fraudulent charitable appeals​. These scams often arise after natural disasters, global pandemics, or other crises, preying on donors’ emotions and urgency to act. Unfortunately, this fraudulent activity not only impacts victims financially but also erodes trust in legitimate charities, undermining their ability to assist those in need.

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Being a role model means showing, not just telling. When you succeed in your own life, it builds credibility with those who look up to you. People are much more likely to trust and follow someone who has "been there, done that." According to a study by the Journal of Business and Psychology, mentees not only report higher job satisfaction but also demonstrate a 90% chance of being promoted compared to their peers without mentors. Your success story serves as proof that the journey is possible, and by demonstrating what can be achieved, you inspire others to believe in themselves.

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Small businesses serve as the backbone of the economy, employing nearly 61.6 million Americans and driving innovation across various industries, according to the U.S. Chamber of Commerce. However, they often face economic challenges that disproportionately affect them due to their limited resources.

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Nonprofit organizations address critical needs that often fall outside the reach of government and business efforts. Economically, according to Tronvig, nonprofits play a significant role by contributing $1.4 trillion to the U.S. economy in 2022, accounting for 5.6% of the GDP. Their influence extends beyond direct operations, creating a ripple effect in local economies. For instance, in sectors like the arts, 100 jobs in a nonprofit can spur an additional 152 jobs in related industries. This multiplier effect demonstrates how nonprofits bolster economic stability through their demand for goods, services, and employment​.

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On Wednesday, the Federal Reserve reduced its key interest rate by a quarter percentage point, marking the third consecutive reduction. This decision came with a cautionary message regarding the possibility of further decreases in the coming years.

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Phoenix, Arizona, has become a thriving hub for small businesses, fueled by strong population growth, innovation, and strategic support from local organizations. The state is home to 611,097 small businesses, which account for 99.5% of all companies in Arizona. Additionally, 1.1 million employees work for small businesses in the state, representing 42.9% of the total workforce, according to Arizona Commerce Authority the small business owners in Phoenix are not only making significant contributions to the local economy but are also setting an example across the nation with their resilience and adaptability.

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