(BBR)  As May 31, 2023, looms closer, the United States faces a critical juncture regarding the debt ceiling. The need to pass the debt ceiling becomes increasingly urgent, highlighting the pressing importance of fiscal responsibility. In this article, we delve into the significance of passing the debt ceiling on May 31, exploring the potential consequences of inaction and emphasizing the need for bipartisan cooperation to ensure economic stability.

Understanding the Debt Ceiling: The debt ceiling serves as a crucial mechanism for the government to maintain control over its borrowing capacity and prevent excessive spending. It establishes a limit on the total amount of money the United States government can borrow to finance its obligations. When the outstanding debt approaches this limit, Congress must pass legislation to raise or suspend the ceiling, allowing the Treasury to continue borrowing funds to meet financial obligations.

Consequences of Inaction:

1. Risk of default: Failing to raise the debt ceiling by May 31 would have severe consequences, including the risk of defaulting on the nation's obligations. This scenario would force the government to prioritize certain payments, potentially leading to missed payments on debts, Social Security benefits, and other critical programs. Defaulting on debt payments could tarnish the country's creditworthiness, trigger a global financial crisis, and have long-lasting negative impacts on the economy.

2. Economic instability: Inaction on the debt ceiling would sow seeds of economic instability. It would disrupt government operations, delay payments to contractors and employees, and jeopardize the funding of essential programs and services. The resulting uncertainty could undermine investor confidence, leading to volatile financial markets and hindering economic growth. The potential consequences would reverberate beyond U.S. borders, affecting global markets and trade relations.

3. Increased borrowing costs: A failure to pass the debt ceiling would increase borrowing costs for the government. Lenders may demand higher interest rates to compensate for the heightened risk associated with an uncertain debt situation. The burden of higher interest payments would divert funds from other important areas, such as infrastructure, education, and healthcare, further exacerbating fiscal challenges and hindering long-term economic development.

Bipartisan Cooperation for Economic Stability: The looming deadline for passing the debt ceiling necessitates urgent bipartisan cooperation to ensure economic stability and protect the country's financial reputation. It is crucial for lawmakers from both sides of the aisle to set aside political differences and prioritize the nation's well-being over short-term gains. Constructive dialogue, compromise, and a commitment to responsible fiscal management are essential to navigate this critical period successfully.

1. Urgent negotiations: Lawmakers must engage in immediate negotiations to raise or suspend the debt ceiling, leaving political posturing aside. Prompt action is required to prevent a potential economic crisis and provide certainty to businesses, consumers, and investors.

2. Long-term fiscal reforms: While passing the debt ceiling is crucial for immediate stability, it is equally vital to address the underlying fiscal challenges facing the nation. Policymakers should explore long-term fiscal reforms, including measures to reduce spending, enhance revenue streams, and promote sustainable economic growth.

3. Transparent communication: Open and transparent communication with the public is crucial during this process. Educating citizens about the debt ceiling, its implications, and the need for timely action can help foster understanding and support for necessary measures.

Conclusion: As the May 31, 2023 deadline for passing the debt ceiling approaches, the United States stands at a critical crossroads. Failure to raise the debt ceiling would have severe consequences, risking default, economic instability, and increased borrowing costs. It is imperative for lawmakers to prioritize the nation's economic well-being over political differences and take prompt action to ensure economic stability. Through bipartisan cooperation, responsible fiscal management, and a commitment to long-term reforms.

(BBR) More organizations are ramping up their efforts to close the wealth gap for future generations after the Covid-19 pandemic and murder of George Floyd laid bare these longstanding inequities. Since it was founded in 2018, the Black Economic Alliance (BEA), a nonpartisan group of Black business leaders and advocates, has worked to expand the political and economic power of the Black community. Over the last three years, the group has mobilized business leaders to advocate for preserving voting rights and established programs to accelerate Black business ownership. BEA also helped identify candidates of color for economic positions in government.

In January 2023, BEA elevated Samantha Tweedy from her role as president of the BEA Foundation to her current role as chief executive officer of BEA. I interviewed Samantha last year when she was serving as president of the BEA Foundation and she told me that, “From entrepreneurship and business ownership to every area of our economy, it’s time for systemic change across the public, private, and social sectors to create a new economic infrastructure that is truly inclusive and prioritizes Black wealth-building.”

I recently had the opportunity to follow up with Samantha about her vision for BEA and upcoming summit bringing together leaders across the public, private, and social sectors. Below is our conversation.

Rhett Buttle: At the beginning of the year, you were appointed the inaugural Chief Executive Officer of the BEA. What are your priorities for the organization as CEO?

Samantha Tweedy: My priority is to ensure that expanding work, wages, and wealth for Black Americans is a focal point of decision-making from Washington to Wall Street. BEA is working to curate and build consensus around, and drive action on, the solutions most likely to expand Black economic prosperity and close the racial wealth gap, which, as research shows, would grow the entire American economy to the tune of $1.5 trillion.

This work of expanding Black economic power is exactly what the Black Economic Alliance – a coalition of leading Black business executives and aligned allies – was built to do, and why I am so thrilled to be the organization’s inaugural CEO.

Rhett Buttle: What new initiatives and goals has BEA been working on for 2023?

Samantha Tweedy: Following years of political investment in competitive races across the country through our PAC and building strong partnerships in corporate America through our Foundation, BEA is uniquely positioned to unite a wide cross-section of stakeholders to advance solutions that improve Black economic outcomes in the U.S. Today, nearly 30 BEA PAC-endorsed policymakers committed to our work, wages, and wealth agenda are serving in elected offices across the country. And from BEA’s extensive network, we have dozens of C-suite leaders in the philanthropic and corporate sectors committed to partnering with us.

With partners like McKinsey’s Institute for Black Economic Mobility and Urban Institute, we are curating the data-driven, evidence-based policy and practice solutions most likely to move the needle on expanding work, wages, and wealth for the Black community. Those interventions cut across sectors and issue areas, just as these challenges do. We will soon release an Architecture for Action that will help leaders look at potential solutions through a different set of lenses, designed to specifically measure their long term gains for Black work, wages, and wealth. That’s how we can re-imagine our economic infrastructure, from the real estate market to the education system, identifying and striking down structural inequalities that stand in the way of Black economic prosperity. And we’ll leverage the extraordinary convening power of our networks, as exemplified in our upcoming inaugural BEA Solutions Summit, which will bring leaders together to build consensus around those solutions.

Rhett Buttle: What does BEA’s work mean for entrepreneurs?

Samantha Tweedy: Business ownership is one of our nation’s surest pathways to wealth generation. The notion that anyone can take an idea, work hard, and transform it into a successful business lies at the heart of the American Dream. Today, 17% of Black women, the fastest-growing demographic of entrepreneurs, are in the process of starting a business in spite of structural barriers that make it that much harder for Black Americans to reap the benefits of business ownership and entrepreneurship at scale. These obstacles are costly to all of us. We need to build systems and markets that facilitate Black entrepreneurship, which will benefit the Black community and the economy as a whole. BEA is addressing this issue with programming while researching and sharing solutions that can operate at scale. We launched the Center for Black Entrepreneurship (CBE) – a partnership with Spelman and Morehouse Colleges, powered by an anchor investment from Bank of America – to train a new class of Black entrepreneurs. And through our BEA Entrepreneurs Fund, anchored by Wells Fargo, we will offer $50 million in capital to businesses founded and led by Black entrepreneurs, which will lead to hiring more Black workers and additional investment in Black businesses and communities. Our goal is to help build a thriving ecosystem that provides Black entrepreneurs with the resources and support they need to succeed.

Our entrepreneurship initiatives serve as scaleable ideas for policymakers and the private sector alike – in fact, just last month we hosted Deputy Secretary of the U.S. Department of Treasury Wally Adeyemo and U.S. Small Business Administration (SBA) Administrator Isabella Casillas Guzman for a roundtable discussion centered on improving access to capital in historically underserved communities and the importance of supporting Black businesses and workforce development programs.

Rhett Buttle: BEA is hosting its first-ever Solutions Summit on March 21st. What can you tell us about this summit?

Samantha Tweedy: The inaugural BEA Solutions Summit is bringing together leaders across the public, private, and social sectors – such as Ambassador Susan Rice, Ariel Investments Founder and CEO John Rogers, Blavity CEO Morgan DeBuan, journalist Jonathan Capehart, and former Massachusetts Governor Deval Patrick – to highlight and build consensus on the leading solutions to advance Black economic prosperity and wealth-building. We’ll hear from experts, policymakers, corporate leaders, and on-the-ground practitioners about what’s working around the country, the major obstacles they are facing, and the role we each need to play to make meaningful change.

Our message to CEOs, policymakers, and philanthropists alike will be that we have to let go of the idea that we can usher Black Americans down the same path to economic prosperity taken by their white counterparts – and instead work to reshape the systems and markets of our economy so they advance, rather than hold back, Black economic prosperity. We look forward to working together with these leaders following the Summit to drive action and investment in the solutions with the greatest impact.

Rhett Buttle: BEA has been an anchor partner in the Business & Democracy Initiative. Tell us about this effort and why it’s important to BEA?

Samantha Tweedy: The Business & Democracy Initiative (BDI) is necessary to BEA’s mission for the simple reason that advancing Black prosperity requires having a strong economy, and a strong economy isn’t possible without a strong democracy. As businesses continue to expand their influence on the American public, we see that they have an increasing responsibility to proactively preserve and protect our democracy – for example, by leveraging their unique influence to help preserve voting rights, as in the 2021 Stand for Democracy call to action that BEA helped to facilitate with over 500 companies and CEOs uniting to oppose state bills containing discriminatory voting measures. That effort was the largest-ever showing of corporate support for the protection of voting rights. Through BDI, we are engaging business leaders on their important role in ensuring the next generation of American prosperity that is so critical to our work, wages, and wealth agenda.

Rhett Buttle: Is there anything else you would like to add?

Samantha Tweedy: Since the Emancipation Proclamation more than 160 years ago, the portion of America’s national wealth held by Black households has increased by less than two percentage points. In fact, the gap between Black and white homeownership rates remains wider today than it was under Jim Crow, and the typical white family has over eight times the wealth of the typical Black family. McKinsey estimates the cost of this racial wealth divide at up to $1.5 trillion per decade, and Citigroup puts the price tag of historical discrimination against Black Americans at a staggering $16 trillion overall.

For all of us committed to realizing the economic promise of America –– a fair shot at prosperity for everyone –– these facts underscore the urgency of our mission. The work ahead must begin with a fundamental re-envisioning of our economy, its infrastructure, and our collective role as leaders within it that centers the expansion of Black economic prosperity and wealth. Only then will we be able to make the progress that is so long overdue.

Rhett Buttle is the founder of Public Private Strategies and senior adviser to Small Business for America’s Future.

(BBR)  The debt ceiling is an integral component of fiscal policy, serving as a statutory limit on the amount of debt the government can incur. However, this seemingly routine legislative measure carries profound economic implications. From financial market volatility to potential disruptions in government operations, the debt ceiling has far-reaching consequences that demand careful consideration. This article aims to explore the economic perspective surrounding the debt ceiling and shed light on its complexities.

The Impact of Uncertainty:

One of the immediate effects of the debt ceiling debate is the introduction of uncertainty into financial markets. When the government approaches its borrowing limit, concerns arise regarding its ability to meet its obligations. Investors demand higher yields to compensate for the increased risk, resulting in higher borrowing costs for the government. The ensuing market volatility can have ripple effects on business and consumer confidence, potentially hindering investment and consumption, and impeding overall economic growth.

Fiscal Policy Limitations:

The debt ceiling can also constrain the government's capacity to implement fiscal policies effectively. During economic downturns, governments often employ expansionary fiscal measures to stimulate the economy. These may include increased government spending or tax cuts to encourage investment and consumer spending. However, a binding debt ceiling restricts the government's ability to enact such policies, rendering them less potent in combating economic hardships. This limitation calls for a delicate balance between managing debt and pursuing economic recovery.

Government Debt and Long-Term Fiscal Sustainability:

The debt ceiling is intricately linked to the broader issue of government debt. A high level of debt poses risks to economic stability and growth. As government debt increases, it can crowd out private investment by absorbing available capital, driving up interest rates for businesses and consumers. This crowding-out effect can stifle economic activity and hamper long-term growth prospects. Furthermore, a substantial debt burden erodes confidence in the economy and raises concerns about the government's fiscal sustainability, potentially leading to higher borrowing costs and further economic strain.

Avoiding Default and Financial Fallout:

Perhaps the most severe consequence of breaching the debt ceiling is the risk of default on financial obligations. A failure to raise the debt ceiling in a timely manner could lead to a government shutdown or an inability to pay interest on existing debt. The consequences of defaulting on debt payments would be catastrophic, including disruptions in financial markets, a loss of investor confidence, and a potential downgrade in the country's credit rating. Such outcomes can trigger a severe economic downturn and have lasting repercussions for years to come.

Conclusion:

The debt ceiling, while often seen as a routine legislative procedure, holds immense economic significance. Its impact on financial markets, the constraints it places on fiscal policy, and its implications for government debt and long-term fiscal sustainability cannot be underestimated. Balancing the need for responsible debt management with the pursuit of economic growth and stability is a formidable challenge. Policymakers must navigate this delicate balancing act with prudence and foresight to ensure the economic well-being of the nation.

By understanding the economic ramifications of the debt ceiling, we can foster informed discussions and decisions surrounding this crucial aspect of fiscal policy. Only by approaching this complex issue with a comprehensive understanding of its implications can we strive to achieve a stable and prosperous economic future.

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or legal advice. Please consult with a professional advisor or relevant authority for specific guidance on the debt ceiling and its implications

(BBR)  Introducing the Power of Your Voice: Showcasing Black-Owned Businesses on a Global Stage!
Are you a proud black entrepreneur looking to make a significant impact and amplify your business on a global platform? Get ready to harness the power of your voice and unlock extraordinary opportunities like never before!
Imagine speaking for 40 minutes on a global stage, captivating the hearts and minds of millions across 200 countries. This is your chance to shine brightly, sharing your story, expertise, and passion with over 10 million eager individuals hungry for inspiration, innovation, and collaboration.
Here are five incredible benefits for entrepreneurs and small businesses who seize this once-in-a-lifetime opportunity:
1. Worldwide Exposure: Speaking on a global platform propels your business into the international spotlight. Your voice and brand will resonate with diverse audiences, opening doors to potential customers, partners, and investors from all corners of the globe. Reach beyond your local market and expand your reach to unimaginable heights!

(BBR)  The California Reparations Task Force will vote on a series of proposals this weekend that could see descendants of slavery living in the state each receive up to $1.2 million.

In a series of documents published Monday, the task force indicated it will vote Saturday to recommend the state of California officially apologize for racism and slavery and offer “down payments” of varying amounts to eligible Black residents.

Here’s what to know about the proposals, which could cost more than $800 billion if they became law.

What is the task force?

In October 2020, Gov. Gavin Newsom (D) signed Bill AB 3121 into law — creating the nation’s first ever task force to study and recommend reparations for slavery.

At the time, the country was still grappling with the murder of George Floyd, who had been killed by a Minneapolis police officer in May of that year. Newsom said the “painful history of slavery has evolved into structural racism and bias built into and permeating throughout our democratic and economic institutions.”

Today, the task force is headed by nine members — five appointed by the governor, two appointed by the president pro tempore of the state Senate, and two members by the state Speaker of the Assembly. A majority of the task force members are Black.

Last year, the task force released a 500-page report detailing the impact of slavery and systemic discrimination across the nation and in the state.

In addition to addressing racial disparities by police officers and in incarceration, the report called for “a detailed program of reparations for African Americans” and for the federal government to create a reparations commission.

It highlighted how programs like Social Security and the GI Bill often excluded Black Americans and created a wealth gap that has persisted since before the passage of the 1964 Civil Rights Act. 

“160 years after the abolition of slavery, its badges and incidents remain embedded in the political, legal, health, financial, educational, cultural, environmental, social, and economic systems of the United States of America,” the task force said.

“Without a remedy specifically targeted to dismantle our country’s racist foundations and heal the injuries inflicted by colonial and American governments, the ‘badges and incidents of slavery’ will continue to harm African Americans in almost all aspects of American life,” it added.

Who qualifies for reparations?

The task force announced in a March 2022 report that any descendant of enslaved African Americans or of a “free Black person living in the United States prior to the end of the 19th century” would be eligible for reparations.

More than 2.5 million, or about 6.5 percent, of Californians are Black, according to the latest data from the U.S. Census Bureau, though that doesn’t mean all can trace their heritage back to meet these requirements.

The task force does state that in order to be eligible for reparations, applicants must be a resident of California — and have proof — that they have been a resident for at least six months of time within each area of harm.

Eligible residents should be compensated for each area of harm, the report added, regardless of direct or indirect harm.

“The State of California created laws and policies discriminating against and subjugating free and enslaved African Americans and their descendants,” the task force said. “In doing so, these discriminatory policies made no distinctions between these individuals; the compensatory remedy must do the same.”

How much in reparations is being recommended?

The proposal lists three specific areas for reparations: mass incarceration and over policing; discrimination in housing, such as redlining that left Black families unable to receive home loans; and harms to health, including unequal access to health care and environmental injustices.

The task force also looked into how much to award based on a number of factors, including length of the harm and length of the person’s residency, as well as whether the person was directly harmed and how the payment would correspond to damages.

For restitution for mass incarceration and over policing in Black communities, the proposal suggests providing $115,260 per person in 2020 dollars — or $2,352 for each year of residency in the state since 1971, which was the first year of the war on drugs.

During the war on drugs, Black Americans convicted of crack offenses were sentenced to nearly double the amount of time as white people convicted of the same offense, according to the National Association of Criminal Defense Lawyers.

Today, Black men make up about 13 percent of the nation’s population but about 35 percent of those incarcerated. Similarly, Black women make up about 13 percent of the female population but 44 percent of incarcerated women.

For those who faced discriminatory housing policies between 1933 and 1977, when redlining mostly occurred, the proposal suggested $148,099 per person, or $3,366 for each year.

Black families own just one-tenth the wealth of white families, and housing discrimination has played a major component in the wealth gap.

The effects of redlining saw housing costs soar in Black communities at the same time the neighborhoods saw disinvestment. Today, homes in predominantly Black neighborhoods are valued at $48,000 less than predominantly white neighborhoods, according to the Brookings Institution, leading to an equity loss of nearly $156 billion. Black Americans today have a homeownership rate of 46.4 percent compared to 75.8 percent of white families.

For the health care disparities Black Californians have faced — including environmental pollution and discrimination by health care workers — the task force recommended $13,619 per person for every year lived in California.

In California, Black residents have an average lifespan of 71 years following the COVID-19 pandemic, a decrease of four years prior to the pandemic, so a total of $966,921 would be awarded.

But even before the pandemic, health care disparities persisted.

According to the report, the reduction in Black life expectancy is the result of discrimination, including “state-sanctioned medical experimentation and sterilization, segregation of healthcare facilities and the denial of funds to facilities or doctors that treated African Americans in California.”

Meanwhile, discriminatory local zoning exposed many Black neighborhoods to toxic industries and generated food deserts, or areas with limited access to nutritious food.

When will payouts begin?

Though the task force is set to meet Saturday to vote, their vote is simply a recommendation; the state legislature and governor will have the final say on whether to follow the task force’s suggestions.

And any bill that heads to Newsom’s desk is likely to face pushback from Republicans and moderate Democrats, who are against cash payments.

In 2020, 12 lawmakers voted against the task force creation, according to CalMatters. In a recent informal poll emailed to the 80 Assemblymembers conducted by CalMatters, only three legislators expressed support for the task force’s effort. The rest did not respond.

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Moreover, the questions of whether the state even has the finances for the payouts has been brought into question. California has an annual budget of around $237 billion, but economists on the panel said reparations could cost the state more than $800 billion.

And the panel added that the list of suggested sums is not exhaustive — these numbers lean on the conservative side and at best are a “very cautious initial assessment for what cost, at a minimum, the State of California is responsible.”

Still, the panel recommends instead of paying out a lump sum to eligible residents, the state begins with a “down payment” of a “meaningful amount of funds” as the first step toward reparations.  

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(BBR) Building a successful business requires immense dedication, strategic planning, and a thorough understanding of potential pitfalls. Unfortunately, not every entrepreneurial venture achieves the desired level of success. Business crashes can occur due to various factors, and it is crucial for entrepreneurs to identify and address these issues to prevent a catastrophic outcome. In this article, we will explore the top ten reasons behind a business crash and provide insights on how to avoid them.

1. Poor Financial Management:

One of the primary reasons businesses fail is inadequate financial management. Entrepreneurs must maintain accurate financial records, understand cash flow, and allocate resources efficiently. Failing to keep a close eye on finances can lead to excessive debt, insufficient working capital, and an inability to meet financial obligations.

2. Lack of Market Research:

A lack of understanding about the target market can be disastrous. Entrepreneurs must conduct comprehensive market research to identify their customers, analyze competitors, and anticipate market trends. Neglecting this crucial step can result in developing products or services that do not meet customer needs, leading to poor sales and eventual failure.

3. Ineffective Marketing Strategies:

Even with a remarkable product or service, a business can crash if it fails to reach the right audience. Ineffective marketing strategies, including a lack of brand visibility, poor messaging, or an inadequate online presence, can hinder business growth. It is essential to invest in targeted marketing campaigns and utilize various channels to engage with potential customers.

4. Ignoring Customer Feedback:

Customers are the lifeblood of any business. Ignoring their feedback and failing to adapt to their needs can lead to a significant downfall. Regularly soliciting customer opinions, addressing complaints, and continuously improving products or services based on feedback is crucial for long-term success.

5. Poor Leadership and Decision-making:

Strong leadership is imperative for guiding a business to success. Poor decision-making, lack of vision, or an inability to adapt to changing circumstances can lead to a business crash. Entrepreneurs should foster a culture of open communication, encourage collaboration, and surround themselves with competent team members who can provide valuable insights and expertise.

6. Failure to Innovate:

In today's dynamic business landscape, failing to innovate can quickly render a company obsolete. Industries evolve rapidly, and businesses must adapt to stay competitive. Neglecting to invest in research and development, failing to introduce new products or services, or being resistant to change can result in losing market share to more innovative competitors.

7. Insufficient Scalability:

A business crash can occur if a company fails to scale its operations effectively. Rapid growth without proper planning and infrastructure can lead to inefficiencies, customer dissatisfaction, and operational failures. Entrepreneurs should anticipate growth and have robust systems in place to support expansion.

8. Lack of a Strong Team:

No business can succeed without a competent and motivated team. A lack of skilled employees, poor team dynamics, or high turnover rates can hinder productivity and impact overall business performance. Building a strong team, investing in employee training and development, and fostering a positive work environment are essential for sustained success.

9. Inadequate Risk Management:

Entrepreneurs must identify and mitigate risks to ensure long-term business sustainability. Failure to assess potential risks, including economic downturns, technological advancements, or changes in regulations, can have severe consequences. Developing contingency plans and regularly reassessing risks can help mitigate their impact.

10. Inadequate Adaptation to Technology:

In today's digital age, businesses that fail to embrace technology may find themselves at a significant disadvantage. Adopting outdated systems, neglecting to leverage digital marketing tools, or lacking an online presence can limit growth potential. Embracing technology and staying abreast of industry trends is essential for remaining competitive.

Conclusion:

While building a successful business is challenging, understanding and addressing the reasons behind business crashes can help entrepreneurs avoid common pitfalls. By maintaining sound financial management, conducting market research, developing effective marketing strategies, prioritizing customer feedback, fostering strong leadership, encouraging innovation, scaling operations efficiently, building a competent team, managing risks, and embracing technology, entrepreneurs can enhance their chances of long-term success. Remember, learning from mistakes and continuously adapting are key elements of a resilient and thriving business.

(BBR)   Have you ever heard the phrase "living rent-free in your head"? It's often used to describe people who we can't seem to stop thinking about, even if they are no longer a part of our lives. These people can be ex-partners, former friends, or even people we never actually had a relationship with. They take up space in our minds, and we can't seem to evict them.

So, who is still living in your head rent-free? Is it an ex-partner who you can't seem to forget? Or perhaps it's a friend who hurt you in the past. Whatever the case may be, it's important to understand why these people are still occupying your thoughts.

One possibility is that you haven't fully processed the emotions associated with the person. Maybe you were hurt by them and never had the chance to fully express how you felt. Or perhaps you have unresolved feelings for them and haven't been able to let go.

Another possibility is that you are holding onto the past. You might be romanticizing a past relationship or friendship, and not seeing it for what it truly was. You may also be afraid of moving on and creating new relationships.

It's important to recognize when someone is living rent-free in your head, and take steps to evict them. This might mean confronting your emotions and talking to someone about how you feel. It might also mean making a conscious effort to focus on the present and future, rather than dwelling on the past.

Ultimately, the people who are living in your head rent-free are taking up valuable mental real estate that could be better used for positive thoughts and experiences. By acknowledging their presence and taking steps to evict them, you can create more space for positivity and growth in your life

(BBR)  Sysco, a leading global food distribution company, has recently welcomed Antwon Edwards as their new Transportation Training Manager. Edwards comes with a wealth of experience, having spent 8 years as a Transportation Manager with DHLs where he made significant contributions to the company's success. He was instrumental in implementing the first in-house CDL exam class and became certified within Maryland to do so.

But his contributions to the transportation industry don't end there. Edwards co-founded the Always Available CDL Permit Program, which helps adults learn the permit book by reading it to them and answering any questions they may have. This program has helped many aspiring drivers overcome the hurdles of obtaining a CDL permit and has contributed to reducing the driver shortage crisis in the industry.

But Edwards' dedication to the community doesn't stop with his professional career. He spends his free time volunteering at the Center of Urban Families for second chance adults, where he helps people with resume writing and the single dad program. He understands the importance of giving back to the community and has made it a priority in his life.

In addition to his passion for helping others, Edwards also enjoys fishing and smoking cigars. These hobbies allow him to unwind and recharge after a long day, and he often shares his catches with his colleagues at Sysco.

As the new Transportation Training Manager at Sysco, Edwards brings with him a unique skill set and a commitment to excellence. He understands the challenges faced by drivers and is passionate about developing training programs that can help them overcome these challenges. With his experience in implementing in-house CDL exam classes and co-founding the Always Available CDL Permit Program, Edwards is well-equipped to lead Sysco's transportation training efforts.

In conclusion, Antwon Edwards' appointment as Sysco's Transportation Training Manager is a significant development for the company and the transportation industry. His passion for helping others, dedication to the community, and experience in the industry make him an ideal candidate for the role. We can expect to see great things from Edwards in the coming years as he works to develop training programs that can help Sysco's drivers excel in their roles.

Contact Information

https://alwaysavailableparking.com

(BBR)  John Lewis has been appointed as the new CEO of the Harbor Bank of Maryland, taking over from Joseph Haskins Jr., who stepped down after 40 years of dedicated service. As the only Black-owned and -managed commercial bank in the state, the Harbor Bank has a long history of serving the black business community and promoting economic empowerment.

Lewis brings a wealth of experience and expertise to his new role. He served as President and CEO of the Baltimore Development Corporation, where he was instrumental in driving economic development and community empowerment initiatives. Prior to that, he held various leadership positions in the public and private sectors, including serving as Chief of Staff to the former Baltimore City Council President.

In addition to his extensive professional background, Lewis has also been an active member of the Harbor Bank's board of directors for over a decade. He has a deep understanding of the bank's operations and mission, and is committed to continuing its legacy of supporting black-owned businesses and promoting inclusive economic growth.

Under Lewis's leadership, the Harbor Bank plans to focus on expanding its reach and impact, developing new products and services to better serve the needs of its customers, and leveraging technology to enhance customer experiences. He also recognizes the bank's important role in advocating for racial equity and social justice, and plans to continue supporting community initiatives and advocating for policies that promote inclusive economic growth and address systemic inequalities.

The appointment of John Lewis as CEO of the Harbor Bank of Maryland is a significant development for the black business community in the state. With his extensive experience and commitment to promoting economic empowerment, Lewis is well-positioned to lead the bank into a new era of growth and success. We look forward to seeing the positive impact he will have on the bank and the broader community.

(BBR)  It’s been a relatively good few years for African-American small business owners.

According to a subset of data in the 2020 State of Small Business report from Guidant Financial and the Lending Club, African-American small business owners are happy these days.

In fact, 70% of them say they are either “somewhat happy” or “very happy” with their businesses. And 72% of African-American small business owners say their businesses are “currently profitable.”

However, the study also shows African-American business owners are “are less confident than the average small business owner about the state of small business in this political climate, with 53% of African-Americans saying they are either “somewhat confident” or “very confident” compared to 60% of average small business owners saying the same.

Startup motivations

Being “ready to be my own boss” was the primary reason African-American survey respondents started their businesses (34%). This was followed by a “desire to pursue my own passion” (29%), “dissatisfaction with corporate America” (13%), and “the opportunity presented itself” (10%). These stats are a bit of a change since a previous Guidant survey showed 62% started a business to “pursue their passion.”

Diversity of African-American business owners

Overall, African-American small business owners are younger and include more women than the general small business population. The study reports 22% of African-American small business owners are millennials, nearly twice as many as the 12% of millennial small business owners in the general population.

African-American women entrepreneurs

The Guidant report shows, “There are more female African-American small business owners than the general population of business owners. In the American small business universe, 27% of small businesses are women, among African-American owned businesses, 35% are women.

The American Express 2019 State of Women-Owned Businesses

 report has slightly different numbers about African-American/Black women-owned businesses:

• # of businesses: 2,681,200 . That’s 21% of all women-owned businesses, making it the largest segment of women-owned businesses after non-minority women.
• Growth rate: Grown at an annual rate for the past year of 12% compared to an 8% annual growth rate between 2014 and 2019. Represents the highest rate of growth of any group in the number of firms between 2014 and 2019 and between 2018 and 2019.

The concerning stat is about earned average revenue. African-American businesses owned by women in this report earned an average of $24,000 per firm vs. $142,900 among all women-owned businesses. This gap, says the report, is “the greatest of any minority [group].

According to digitalundivided’s Project Diane 2018 report, The State of Black Women Founders ( the report is issued every two years) the number of startups founded by Black women more than doubled from 2016 to 2018—to less than 4%. But that’s small compared to the percentage of Black women in the U.S. (14% of women in the U.S. are Black). Nearly half of all African-American women-led startups were in California and New York.

In fact, according to BlackBusiness.com, New York state has the most (regardless of the gender of the owner) Black-owned businesses—-204,093—which is 10.6% of the businesses in the state, followed by Georgia, Florida, and Texas. However, Washington DC has the highest percentage of Black-owned businesses in the country with 28%.

Challenges for African-American business owners

Lack of capital and cash flow is the biggest challenge for African-American small business owners, according to Guidant. That’s not really a surprise since those are the same problems most small business owners face.

But fewer African-American small businesses are approved for financing, often at lower amounts of money with higher interest rates, according to a report in The Washington Post. Guidant reports that the “wealth gap also contributes to financing challenges…making it harder to [get] financing. Without the funds to invest in as many resources as other businesses, such as hiring talent or marketing and advertising, competing for contracts or attracting clients becomes exponentially more difficult.”

Small business can be a lonely venture

A report, 8 Insights on the State of Black Entrepreneurship, from American Express reports 47% of African-American small business owners run their businesses by themselves, compared to the 33% of average small business owners. And African-American businesses have fewer employees: 38% have 2-5 employees and only 7% have 6-10 employees. This compares with the average small business owner, with 41% employing 2-5 workers and 12% employing six to 10 workers.

Getting funding

More African-American small business owners (44%) use cash to fund their businesses than the average small business owner (37%), according to the Guidant report. Only 15% get help from friends and family, which was the second most popular source of capital for African-American business owners.

Other funding sources for African-American business owners include:

• Lines of credit
• Rollovers for Business Start-ups (ROBS), financing that allows small business owners to tap into eligible retirement accounts to fund their businesses without tax penalties. Guidant says this grew by 21% in popularity among African-American small businesses year over year.
• Unsecured loans
• Peer-to-peer
• Equipment leasing
• SBA loans

And according to Project Diane, the picture for African-American women is equally challenging—since “2009, Black women led startups have raised $289MM in venture/angel funding, with a significant portion of that raised in 2017. This represents .0006% of the $424.7 billion in total tech venture funding raised since 2009.”

Entrepreneurship is in many ways, a mirror to life — you start with a blank page and a head full of ideas. How you fill that page will depend on a lot of inner characteristics — vision, patience, perseverance, empathy, stubbornness. Plus, one external thing— “a dash of luck”.

Often enough, “luck” is the collective term for the things we don’t talk about, the things we shush. The elusive “luck” is in many ways, “uncomfortable” things like privilege, background, family, connections, etc.

For Black entrepreneurs, the above kind of “luck” has been so minimal — or even nonexistent — that they went on to defy it and create their own. We can only admire the courage of the people who beat the odds of life and became not just successful entrepreneurs but role models far beyond their communities.

Today, I’d like to give an ear to their stories — the stories of the Black entrepreneurs next door who made it when all the odds were against them. They “beat the odds”. So can you.

1. Antonio Wells: “Never let someone who lacks vision stop yours”

Today, Antonio Wells is the owner of Chicago-based brand growth and marketing agency NAMYNOT Inc.

Helping businesses from start-ups to Fortune 100 companies grow their brand, Antonio is a serial entrepreneur who started a tech review company back in 2009. Back then, launching on a “shoestring budget”, Antonio was able to grow the company organically into a global leader in the app review industry, and successfully sell it.

“In 2009, I started a popular mobile app review site called AndroidTapp.com. With great content, a mastery of SEO, and good ole fashion journalism. The company never received funding and was able to grow exponentially by reinvesting,” Antonio says. “The greatest challenge I faced was lack of funding [and] lack of knowledge in finding alternative ways of gaining funding. However, I turned this lack into execution by working with what I had and continually reinvesting (oftentimes 100%) until I hit a point of profitability.”

For Antonio, the most important thing in life has been to never give in when others fail to believe in you or your business. Even such a critical aspect as lack of funding for business isn’t enough reason to give up on your goal.

Business tip

Antonio’s business journey shows that strategic financial planning is vital to any startup or growing business. But on top of that, his motto is to never let even well-meaning advisors (of which there’ll be plenty) to interfere with your vision. Whatever the financial hardship, there’s a way to adapt the means to your goals. Some of the best ways to cut back on business costs are reinvesting in the business, studying profit margins, and building a simple financial model for your business.

2. Jamie R.Wright: “It’s not that I’ve always known who I would be, it was just very clear to me who I wouldn’t be.”

Starting or growing a business during a pandemic is an immense challenge in itself. Starting a business as a victim of domestic violence in the middle of a pandemic, while fighting for your safety at a women’s shelter around Houston, TX, is something that takes unprecedented courage.

Jamie Wright is one such amazing woman. Fighting not just for her life, but for the life of women in similar circumstances as she, she became a trauma & self-love advocate, author, motivational speaker and ambassador for women subjected to domestic abuse. Jamie’s story and practical advice has already been shared on BBC News, CBS, Fox 26, 60 Minutes Quibi and more.

“As a survivor of domestic violence, I share my story of triumph in a way that inspires others,” Jamie says “I also provide practical ‘how-to’ tips and tools in an effort to help others radically transform their lives. The greatest business challenge I faced overcoming my self-doubt and disempowering thoughts by realizing that all that I needed was within me. I may have been victimized, but I AM NOT a victim. Adversity is an opportunity to remind/show myself how strong and resilient I am.”

Business tip

A survivor of domestic violence that has accomplished everything through her faith and courage, Jamie’s motto is a paraphrase of Oprah’s quote, “It’s not that I’ve always known who I would be, it was just very clear to me who I wouldn’t be.” Whatever life situation you’re currently in, Jamie reminds you to find a community that will guide and support you, like an online business community for Black entrepreneurs. Seeking help isn’t about a lack of courage. It’s about real, hands-on courage. When we are backed by people who understand our experiences, we can move mountains — even in times of a pandemic and personal trauma.

3. Vid Lamonte’ Buggs Jr.: “To persevere and overcome the odds, have a warrior mindset and live a warrior lifestyle”

People often call Vid Buggs the “modern Renaissance man”, i.e., a man of many talents. He is owner of an entrepreneur, bestselling author, athlete, public speaker — and that’s just a part of his accomplishments.

But throughout his childhood, it seemed the odds were turned against Vid. Born with a medical condition that made doctors believe he wouldn’t be able to walk or run normally, and facing academic challenges in school, he went on to graduate with the highest honors, obtain multiple degrees, engage in sports, and find his life’s purpose in a hidden talent.

“It was 2013–2014 and I just was waived by an NBDL team,” Vid says. “My girlfriend and I were expecting a baby girl. [We were] in Florida without any family to help during one of the most challenging times in my life. However, due to this crossroads, I decided to pursue some goals I had put on the backburner. Those goals were starting a Publishing Company, starting an Enterprise, Publish a book, and Public Speak on a national level. Through basketball training and money I had saved up, I was able to publish my book, “You Ain’t Hungry Until I’m Starving”, with the help of Marci Wise. I also was able to start both of my companies.”

Business tip

As Vid says, “No matter what we want to do or who we want to be in life, we will go through challenges. People will doubt us, and tell us what odds are against us. In order, to persevere, overcome the odds and be successful, a person must have a warrior mindset and live a warrior lifestyle.”  In other words, if you want to change your life, start with changing your mindset and acquiring key business skills like communication, networking, sales negotiation, and digital skills.

4. “Michele Davis: “Take the time to discover what makes you happy and fulfilled in every aspect of your life.”

One day in 2016, Michele took the leap of faith many would’ve considered improbable. At 45 years of age, she became a first-time entrepreneur with no prior experience. Back then, she launched Marketing Gem Solutions, a website design, branding, and SMM company supporting female entrepreneurs.

Through her active learning and perseverance, Michele’s business story soon took off. But only three years later, personal tragedy struck. Michele’s son died, leaving her heartbroken after the greatest challenge a human being can face. Surprisingly, one day she found the courage and fearlessness to rise up and even reinvent her business.

“After I felt emotionally able to return to the world […] I decided to contact clients just to check in on their progress in their business. The more I spoke to the women, the more I realized they needed business mentorship. That’s when I decided to provide [them with] a step-by-step blueprint. My focus with Phenomenal Boss Academy is helping women launch a profitable and sustainable business in 90-days or less.”

Business tip

For many people, starting a business after 40, or even starting a business after 50 with no experience to boot, sounds frightening. But for Michele, it has become more than a plan B, but an unexpected support that helped her come back to life through helping others. This is why she’s an advocate of the spiritual, mindful approach to business concepts. “I always advise people to take the time to discover what makes you happy and fulfilled in every aspect of your life. Evaluate what you need spiritually, emotionally, financially, and so forth to make you feel happy and fulfilled.” When your business is about more than “work”, your success becomes a link between other people. To paraphrase Vernon Jordan, standing on the shoulders of others, you lend your own shoulder to those following you.

5. Jen Ngozi: “Cancel Perfectionism!”

Jen Ngozi grew up in a first-generation African immigrant family who came to the U.S. with nothing but $10 in their pockets. Growing up in a minority community, she had no corporate-American parents, birth privilege, or business role models to emulate.

Set on working hard and giving back, Jen fought for and forged her own path in business and went on to found NetWerk, a global woman in leadership movement and organization helping everyday women worldwide build the community, confidence, and skills needed to become leaders. Jen’s movement has met with worldwide acclaim and partnered up with brands like Teen Vogue and the United Nations Foundation. Her secret? Letting go of perfectionism in favor of lifelong learning.

“It’s important to embrace the entire process of building an organization, including mistakes,” Jen says. “Throughout my business journey, I learned how detrimental perfectionism is to growth. And I’ve decided that we never really make mistakes, we only get better aligned to our original purpose. [You could say that] mistakes made my vision clearer.”

Business tip

Cutting out perfectionism aka the “all or nothing mindset” is what Jen considers the biggest asset in business and life. If perfectionism is your roadblock, don’t stop doing what you’re doing. Keep on doing it while you learn more. Jen says that it’s been mentorship that propelled her business forward drastically. She relies on SCORE, the SBA’s volunteer mentor organization from/to small business owners where anyone can connect to a business mentor for free, or sign up to mentor others. If you’re starting a business, learning practical financial practices, strategies to cut back on business costs, and filling inevitable gaps in your business, sales, or marketing knowledge is a shortcut through mentorship.

Final word

Black History Month isn’t just a celebration of roots, courage, and overcoming. It’s also an important lesson for every single community, minority group, and underprivileged society. A lesson about creating our own “luck” — and fate.

Like African American film director Spike Lee said, “I believe in destiny. But I also believe that you can’t just sit back and let destiny happen.”

Don’t wait for destiny to happen. If that’s what you’ve been dreaming about, become an entrepreneur. Beat all the odds.

A lot of what we know about the iPhone 12 range is suddenly in doubt and it’s not all good news. But now new information has revealed that everyone is in for a shock when it comes to Apple’s most exciting new model.

In an eye-opening exclusive, hugely popular YouTuber Filip Koroy (aka EverythingApplePro) has revealed that Apple’s all-new (cut-price) 5.4-inch iPhone 12 will be the smallest iPhone the company has sold in years. The result is the truly compact yet premium device millions have wanted ever since smartphones grew to the size of tablets. 

06/20 Update: Koroy has followed up his chassis leaks with new information on the CADs that allowed him to mold the full iPhone 12 line-up. He explains that "examining these CADs we can tell that they are definitely recent, they are not the old December ones from 2019 which had the smart connector [since moved to the 2021 iPhone]... and these molds paint a completely different picture than what was suggested." Changes include a larger camera layout with different lens spacing and, crucially, no smaller notch and no LiDAR sensor. That said, the same caveats remain about the details Apple is likely to be holding back from case makers, who are believed to be the source of these latest CADs once again. Given the stunning design detail we have already seen based on previous leaks, even Koroy hopes his sources are wrong. Either way, there is a clear split developing in the leaker community over whether Apple will be delivering a major design update with the iPhone 12 or simply a flat-edged clone of the iPhone 11 models.

“People who love tiny phones are in for a treat with the new 5.4-in iPhone. Smaller than a new SE!” exclaimed Koroy, who illustrated this using a new mold of the handset alongside Apple’s recently released 4.7-inch (gen 2) iPhone SE. 


Apple achieves this because the 5.4-inch iPhone 12 uses a bezel-less design. And Koroy has further good news, explaining that the large notch you see in the video is unlikely to be final. That’s because the mold comes from schematics given to case makers. While case makers need extremely accurate dimensions, they don’t need the information about the notch or number of cameras so Apple uses the previous design.

How small exactly is the new 5.4-inch iPhone 12? Koroy has yet to provide exact measurements, but they look close to the early dimensions attained by Macotakara back in February. I have put them below, alongside official dimensions of other iPhones for context: 

5.4-inch iPhone 12: 131 x 64 mm (5.15 x 2.51-inches)
4.7-inch iPhone SE (2020): 138 x 67 mm (5.43 x 2.65-inches)
4-inch iPhone SE (2016): 123 x 58 mm (4.84 x 2.28-inches)
5.8-inch iPhone 11 Pro: 144 x 71.4 mm (5.67 x 2.81 x 0.32-inches)

You’ll spot that the 5.4-inch iPhone 12 is also narrower than the 4.7-inch iPhone SE. This is because Apple’s bezel-less design uses a display with a 19.5:9 aspect ratio which is longer and narrower than the 16:9 ratio used in both iPhone SE models. 

Downsides? The big omissions are the 120Hz ProMotion Display and new LiDAR sensor heading to iPhone 12 Pro models, while the optical zoom lens will again remain a Pro-exclusive in 2020. That said, the 5.4-inch iPhone 12, like the (newly renamed) 6.1-inch iPhone 12 Max, will have 5G, step up to an OLED display and use the same primary cameras and ballistic new A14 chipset as the Pros. 


So while smartphone fans will have heated debates about whether Apple’s iPhone 12 Pro models beat the competition, what’s far more interesting is no rival has anything to compete with the size+specifications of the 5.4-inch iPhone 12. For me, that makes it 2020’s most exciting smartphone

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