Transitioning to solo entrepreneurship is a significant challenge for anyone, but for widows, this journey comes with unique financial considerations. According to a study by Bowling Green State University, approximately 29.5% of women aged 65 and older were widowed as of 2022.
Integro Bank is excited to announce a special upcoming event for the June CEO Club: "How to Grow and Sustain Your Brand and Client Loyalty." This event will provide a rare opportunity to connect with special guest speakers from Fender, Edward Cole, President of Asia Pacific, and Michael Spandau, the CIO and SVP for Global IT. CEO Club members, business owners, and business leaders will have a great opportunity to hear from a business that has a long history of successfully developing a global brand and creating amazing customer loyalty.
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Retaining customers is not just about providing quality products or services—it's about creating meaningful connections and fostering lasting relationships. As a minority-owned business, your unique background and perspective can be a significant asset. According to a study by the National Minority Supplier Development Council, 71% of minority-owned businesses provide goods and services that reflect the business owner's culture. Embrace this uniqueness and communicate it clearly to your customers. Your distinct cultural insights can provide value that sets you apart from competitors.
Access to capital is often the make-or-break factor that determines whether a promising idea takes flight or remains grounded. While talent, dedication, and a solid business plan are essential, securing funding is a critical hurdle that many aspiring founders struggle to overcome. However, research has shown that the strength of an entrepreneur's personal and professional networks can significantly impact their ability to access capital.
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An emergency fund is a critical component of financial health and stability. As reported by Bankrate 30% of U.S. adults have enough to cover up 6 months' expenses or more. Having an emergency fund serves as a safety net to protect you from unexpected expenses, job loss, or other unforeseen circumstances that could derail your financial plan. Building an adequate emergency fund can help you avoid taking on high-interest debt or depleting your retirement savings during tough times.
The 2022 Annual Business Survey (ABS) revealed that there were around 5.9 million employer firms in total. Out of these, 1.2 million (21%) were owned by minorities, 304,823 (5.2%) were owned by veterans, and approximately 1.3 million (22%) were owned by women. These businesses together generate over $1.8 trillion in revenue and employ 6.3 million workers. However, some minority-owned businesses are facing challenges that are holding back their growth. Bank of America's 2022 Women & Minority Business Owner Spotlight highlights that 46% of Women & Minority Business Owners have faced difficulties in accessing capital, among other challenges. Minority-owned businesses should remain vigilant and watch out for these challenges in 2024.
Women entrepreneurs continue to make significant progress in various industries. They have launched innovative startups, scaled successful businesses, and contributed significantly to economic growth. According to Luisa Zhou, women-owned businesses have grown by 114% in the last two decades. To sustain and accelerate this momentum even further, there are some potential strategies and advice that could help.
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PHOENIX, Feb. 14, 2024 /PRNewswire/ -- Integro Bank is honored to announce a special CEO Club event. The event, "Navigating the Entrepreneurial Horizon, Taking That Leap of Faith to Win with Partnerships & RFPs" will be featuring speaker Ron Williams, an award-winning business owner, decorated Desert-Storm Era U.S. Air Force Veteran, who was inducted into the Arizona Veterans Hall of Fame, and recipient of the Arizona "Lifetime Achievement Award."
Understanding the economic terrain is crucial for making informed decisions. Economists are outlining key trends that are expected to shape the economic landscape. These trends could provide insights into the potential trajectory of global economies in the coming months of 2024.
Within the United States, a majority of new businesses, specifically over 50%, are owned by individuals from minority backgrounds. Despite this, such businesses continue to experience disparities when it comes to accessing capital and opportunities. As the business environment becomes increasingly dynamic, it is critical to highlight and support minority entrepreneurs. To effectively promote and support the growth of minority-owned businesses, there are several strategies that may be employed that could provide support.
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