Friday, August 27, 2010

Tuskegee University To Host Booker T. Washington Economic Development Summit

The 15th annual Booker T. Washington Economic Development Summit will be held on September 15-17, 2010 at the Tuskegee University Kellogg Conference Center in Tuskegee, Alabama. The conference theme is: "Revitalizing Entrepreneurship and Procurement Opportunities in Small Towns and Rural Communities".

Key speakers include George Curry, renowned speaker, author and moderator; and Maggie Anderson, CEO of The Empowerment Experiment

The conference is designed to promote economic development through private enterprise with emphasis upon procurement opportunities for business owners, contractors, community-based organizations, small business development programs and HBCUs involved with community development.

Tuesday, August 24, 2010

Minority Business Ownership Increasing at More Than Twice the National Rate

The U.S. Census Bureau is reporting that the number of minority-owned businesses has increased by 45.6 percent to 5.8 million between 2002 and 2007, more than twice the national rate of all U.S. businesses. In addition, the number of women-owned businesses increased 20.1 percent during the same period. The total number of U.S. businesses increased between 2002 and 2007 by 18.0 percent to 27.1 million.

These new data come from the Preliminary Estimates of Business Ownership by Gender, Ethnicity, Race and Veteran Status: 2007, from the U.S. Census Bureau's 2007 Survey of Business Owners. The preliminary report released is the first of 10 reports on the characteristics of minority-, women-, and veteran-owned businesses and their owners scheduled for release over the next year.

Thursday, August 19, 2010

Black Enterprise Celebrates 40 Years With Launch of New Online Store

I'm an avid fan of Black Enterprise magazine and their annual entrepreneurs conference. If you didn't know, they are one of the only magazines that report on business from an African American perspective. They also are one of the only magazines that regularly highlight the accomplishments of African American entrepreneurs and executives.

Recently, to commemorate their 40th Anniversary Collector's Edition, they launched an e-store that allows you to easily buy all the products they sell. For instance, you can subscribe to their monthly magazine - as well as, purchase back issues. In addition, you can buy apparel, posters, bags, coffee mugs, and even mouse pads that feature the Black Enterprise logo.

Tuesday, August 17, 2010

Promote Your Products on the Black Shopping Channel

The Black Shopping Channel (BSC) is a very unique televised shopping platform that showcases products sold by African American entrepreneurs. It allows small business owners to sell their products on television in a very affordable format - similar to QVC. The products can also be featured on their web site.

Just recently, they signed a major deal to broadcast live on Time Warner Cable on Channel 376 in the North Carolina and South Carolina markets. This officially starts in September, and they expect expand in to other markets soon.

Friday, August 13, 2010

Entrepreneurs Face Less Competition From Laid Off Workers

A recent study from Challenger, Gray & Christmas shows that the percent of laid-off workers starting their own businesses has dropped to an all-time low in the first half of 2010. Only 3.7 percent of job-seekers ended up starting a business, compared to 8.5 percent in all of 2009.

The sharp decrease is likely because the economy has slightly recovered, allowing companies and government agencies to start hiring again. Whatever the reason though, this is great news for existing and aspiring entrepreneurs because fewer new start-ups means less competition.

Tuesday, August 10, 2010

Mary J. Blige Breaks Sales Record With New Fragrance

Target Market News is reporting that Mary J. Blige's new "My Life" fragrance developed by Carol's Daughter has sold more than 60,000 units on the Home Shopping Network (HSN) in just 6 hours. This completely shattered fragrance records at HSN, and was one of the most successful launches of a line in fragrance history.

Mary J. Blige undoubtedly has a huge following, even though her record sales don't always reflect that. Her influence amongst African American women has been long-standing and very impressive over the past 20 years.

Monday, August 9, 2010

Is Your Business A One-Hit Wonder?

Will your business last for years and years to come? Or is it based entirely on a fad that can easily go out of style? Or maybe your business stubbornly thrives on old technology that will eventually be obsolete.

Existing entrepreneurs should take the needed steps to make sure that their business model will be relevant for a long time - not temporarily. Aspiring entrepreneurs too should think about this well in advance before they even get started. Too often, businesses will fold because their owners were ignorant toward small but critical factors.

Tuesday, August 3, 2010

Open A Mr. Clean Car Wash Franchise

What began as America’s favorite name in household cleaning has grown into a gold standard in car care, and there are some franchising opportunities available.

Owned by P&G, a Mr. Clean Car Wash franchise is a proven business model and has a powerful support system. The franchise has tremendous brand awareness, and a very well established base of consumers who have trusted Mr. Clean products for decades.

Monday, August 2, 2010

Top 10 Businesses That Don't Go Out of Business

Any business can be successful, but some seem to stick around no matter what. In my personal observations, I've noticed that the following types of businesses rarely fail:

1) Daycare or Child Care Centers
2) Barbershops/Hair or Nail Salons
3) Office Cleaning companies
4) Auto Repair/Maintenance shops
5) Convenience stores
6) Gas stations
7) Taxi/Shuttle services
8) Movie theaters
9) Doctors/Dentist offices
10) Fitness Centers and Spas