Financial literacy is vital for everyone but especially business owners. One wrong move now can balloon into a major issue when you least expect it. Unfortunately, many black business owners are raised in households where financial knowledge is limited or nonexistent. However, to succeed in business, that’s an obstacle you must quickly overcome. What is financial literacy? Officially, financial literacy is your understanding of basic financial terms as well as credit and debt management. How to balance a checking account, how to avoid massive debt and how to properly use a credit card are all concepts that fall under [...]

For black business owners, disadvantages are lurking around every corner.  Whether it’s lack of access to capital and resources, discrimination from potential investors or refusal of a target audience to support the business, it can be extremely tough to find your bearings in a business world dominated by people who don’t look like you.  However, instead of giving into the frustrations, channel your energies into a valuable skill that can change your outlook: network with other black business owners. In and of itself, networking is crucial because your business contacts can connect you with new customers, investors and even [...]