New Report Shows Racism Discourages Black Businesses from Funding
While multiple reports have shown rising interest in financing Black-owned small businesses, a new study shows an underlying problem still remains. According to the “State of Minority Business, March 2022” report by Creative Investment Research, there has been less understanding of the core issues small Black-owned firms face in gaining funding to start or grow enterprises.
The analysis pinpoints why Black-owned firms continue to experience under-performance in accessing capital across the nation’s financial services-industry.
William Michael Cunningham, an economist and owner of Creative Investment Research in Washington, D.C., says those factors include elevated discouragement when applying for financing, low-profit margin industries, and a reported undercount by the U.S. Census Bureau of the number of black owned businesses. He says potential discrepancy can lead to less funding from federal, state, and local agencies to support to those ventures.
Cunningham swears the lack of financing cuts across funding sources including banks, credit unions, venture capital firms, and fintech businesses. The research includes data on exit rates by year and race, the number times black firms re-opened, and the type of financing used.
“We were shocked by the layers of racism, discrimination, and anti-black Black behavior on the part of financial institutions and how that conspired to lower Black business activity,” he says.
“And the fact that policymakers seem to be unaware and unable to make things better for the Black community.”
Why did firms not apply or were hesitant about applying for financing?
“Some 40% of Black firms did not apply for financing because they were discouraged,” Cunningham says.
That number compares to only 12% for white firms, 24% for Hispanic firms, and 22% for Asian firms. Another 13% of Black firms did not apply for financing because they felt they had sufficient resources. Conversely, that number was a whopping 50% for white firms, 27% for Asian firms, and 26% for Hispanic firms. So why such a large gap for Black firms?
“This is the result of continual discrimination and racism repeatedly. You get to the point where you don’t even want to apply because you know you’re going to get rejected,” Cunningham says. His analysis was based on recently issued reports concerning the state of Black businesses in 2022.
Owner race by industry
Black-owned small businesses made 41 cents of every dollar their white peers made in 2014. That number grew to 48 cents in 2019. In contrast, Hispanic firms made 79 cents for every dollar a white firm collected in 2014. The number for Hispanic firms grew to 90 cents by 2019. Cunningham says Black firms start with less money and operate in businesses like low-profit personal services. He says that puts them at a competitive disadvantage to Hispanic and white firms operating in higher-profit areas like construction and high-tech manufacturing. Cunningham’s analysis is based on 30 years of knowledge on Black business conditions along with recent reports.
Number of Black-owned businesses
Cunningham says U.S. Census data show there were an estimated 134,567 Black businesses as of October 2021. But he is confident that is a gross undercount. Cunningham estimates that the number is closer to 900,000 based on his research.
“The problem with the Census number could result in a lowering of financial assistance from federal, state, and local government sources to Black businesses.”
All told, Cunningham says his firm’s report shows that there are still significant reasons why Black firms trail white firms when it comes to revenue and profitability.
“If these statistics remain as they are, then Black businesses will never catch up.”
J. Prince Calls On Powerful Black Artists to Boycott the Grammy Awards
Powerful hip-hop record executive and label owner, J. Prince of Rap-A-Lot Records, has put out a call to arms.
After the Recording Academy canceled the performance of Kanye West at the Grammys after his 24-hour Instagram suspension, Prince wants Drake, The Weekndand Nicki Minaj to boycott the upcoming ceremony.
Prince posted on his social media accounts for artists to skip the Grammy Awards this year and perform in Las Vegas instead. He proposed doing the show at the same exact time the awards show will air.
In a post titled “HIP HOP VS. THE GRAMMY’S” on his Instagram and Twitter accounts, the executive who helped end the Kanye West/Drake beef, explained these artists should consider his plan.
“I’ve been watching the Grammys control and dictate our culture to their benefit up close and personal for the past 30 years. And all the artists, managers and executives would do is complain, but never have the nuts to come together to do anything about it. Even though the latest episode deals with Trevor Noah and the cancelling of @kanyewest, this racist act is so much bigger than them.”
Prince then detailed the master/slave mentality that the Recording Academy incorporates when dealing with Black artists. Explaining the basis of the 13th Amendment of the Constitution where slavery was abolished yet “everyone in the prison system and those that are out of prison that have been convicted of a crime are considered slaves in the United States.”
He added, “This is a ‘slave master punish a niggah mentality and act’ to remind us that no matter how much money we have, we are still niggahs in their eyes. So they cancelled Kanye and discriminated against Drake, The Weeknd, Nicki Minaj and many others over the years. This will only be broken by us uniting our powers to bring about change moving forward.”
Prince wants his Las Vegas special to air on a special network and streaming platform to prove that “ratings will change…when the No. 1 selling genre in music—HIP HOP—comes together because there’s power in numbers.”
HIP HOP VS. THE GRAMMY’S
I’ve been watching the Grammys control and dictate our culture to their benefit up close and personal for the past 30 years that I’ve been in the music business.
7 Landing Page Best Practices to Get More Clients in 2022
Landing pages are integral parts of online marketing for businesses. It’s the first thing potential customers see when clicking ads or search engine result links. The primary purpose of landing pages is converting visitors into customers, whether businesses are selling products, offering services, or generating leads. It’s what convinces visitors to stay or leave.
Creating well-designed, optimized landing pages can increase conversion rates. This article reveals seven landing page best practices to get more clients.
7 landing page best practices for more clients
Several factors make landing pages effective, including design, copy, and offer. These best practices will help design and optimize landing pages to help businesses achieve goals.
Set a clear and specific goal
When creating landing pages, it’s essential to set specific goals. Perhaps the most common goal is to turn visitors into paying customers who will stick around and become brand ambassadors.
Remember that goals can change depending on what needs to be achieved at different business cycle stages. For instance, increasing brand awareness, promoting the flagship product, driving traffic to the website, or creating new leads may be important in the early stages of business.
When setting goals for landing pages, it’s essential to follow the principles of SMART goals, which stand for Specific, Measurable, Achievable, Relevant, and Time-bound. It is easier to measure and keep track of when a goal is specific.
Goals should also be achievable, not abstract aspirations or lofty ambitions. Landing page goals must be relevant to what businesses want to achieve. And finally, a goal should have a set timeframe for completion.
Here are some examples of clear and specific goals for creating a landing page:
– Generate 10,000 high-quality leads per month for three months.
– Increase website traffic by 50% for the month of April.
– Get 3,000 people to sign up for a course membership in two months.
– Increase product sales by 40% using the landing page as the sales funnel.
– Get 30% of site visitors who clicked on the ad to purchase the advertised product.
Put the target audience front and center
Effective landing pages must be designed with the target audience in mind. Businesses can create landing pages that will increasingly convert browsers into buyers by segmenting the target audience and catering to their specific needs and wants.
One way to determine the target audience is to perform market research. This can include studying the current customer base, surveying potential customers, or looking at industry trends.
Once there is a good understanding of the target audience, businesses can design landing pages around pain points. They should provide viable solutions to customers’ problems.
Headlines should be geared toward the target audience, as should the rest of the content. Using different media types such as videos or infographics will also appeal to the target audience.
Optimize website performance
When it comes to online marketing, landing pages are currency. After all, this is where potential customers are directed. So, landing pages must effectively persuade visitors to take a closer look at what’s being offered and take the desired action.
It’s not enough to make websites visually appealing and easy to navigate. Websites must also be optimized to create positive user experiences. Many factors influence how well a landing page performs. But two of the most critical factors are how quickly pages load and how responsive they are on different devices.
A slow page loading speed can negatively impact landing page performance. This is because it’s a significant deterrent for potential customers and can cause them to leave the page before it has even fully loaded. One of the best ways to speed up landing pages is by reducing the size of images.
Additionally, if landing pages are not responsive to mobile devices, businesses will likely lose potential customers browsing from their smartphones or tablets.
Make copy simple and easy-to-understand
When writing copy for landing pages, it’s essential to make them simple and easily understood. Visitors should be able to read through quickly and get information right away.
Here’s how businesses can improve copywriting skills and create content that will resonate with the target audience.
– Use the AIDA (Attention, Interest, Desire, Action) technique. When used in copywriting, it’s a framework to get the reader’s attention, keep their interest, build desire, and prompt action. It can be used on landing pages to create persuasive copy that encourages people to sign up for an emailing list or buy products.
– Use storytelling. Stories that resonate with the target audience are more likely to persuade them to take action.
– Write as people talk. Copywriting is all about making customers understand the message. Short, concise sentences with simple words connect businesses with customers more personally, resulting in more conversions.
– Use active voice. This makes writing more engaging and helps keep the customer’s attention focused.
Grow My Ads has an excellent example of a landing page with a clear message enhanced by adding elements like simple images, bullet points, and a call to action. Another great example is Full Harvest’s page.
Strategically position CTA buttons
Call-to-actions (CTAs) should tell site visitors what businesses want them to do, and it should match up with advertisements. For example, if an ad promises a free trial, the landing page should have a call to action that offers a free trial.
The placement of CTAs is crucial to landing pages and need to be placed in spots where they are most likely to be clicked.
Long-form landing pages benefit when CTAs are at the top or “above the fold,” so visitors don’t have to scroll down to find it. Conversely, shorter pages benefit from CTAs at the bottom, so visitors don’t forget about them.
A good example is Leadhackrs. Multiple CTAs are placed strategically across the landing page of a real estate business.
Let other people vet for the business
Landing pages with strong testimonial presences convert better. Testimonials add social proof to landing pages and help visitors feel more confident in their decision to buy or support your brand. When people see that others have had success with your product, they are more likely to convert.
TimeDoctor does this exceptionally well for their employee-monitoring software landing page. They feature testimonials from individuals, teams, and companies that use their software. The testimonials give site visitors a sense of what the product is like and whether or not it’s worth their time and money.
If businesses want to increase landing page conversion rates, they can include plenty of testimonials from happy customers. This will help persuade visitors to take the next step and help build trust and credibility for the brand.
Make A/B testing a habit
One way to test the effectiveness of a landing page is by implementing A/B testing to find and use the top-performing landing page version.
Test different headlines, images, offers, and sales pitches to see which ones convert best. This can help increase conversion rates, as businesses can pinpoint the elements of the page that are most appealing to visitors and make tweaks accordingly.
Key takeaways
By following the seven best practices discussed in this article, businesses can start creating and optimizing landing pages to get more clients. For starters, businesses must have specific goals. Then, businesses have to make sure the copy is easy to understand and relevant to what’s being offered.
Landing pages should be simple and easy to navigate, with clear CTAs that lead visitors to the next step in their purchase journey. Businesses should also test different versions via A/B testing to see which one best performs. By following these tips, businesses can create landing pages that will attract more clients and boost sales and profit.
Meet the CEO of the Largest Black-Owned Food Bank in the Southeast
Elisabeth Omilami is the CEO of an Atlanta-based food bank Hosea Helps. Her father, a civil rights leader named Hosea Williams, started it in 1971, and today it’s the largest Black-owned food ban in the southeast part of the U.S.
When her father launched it, it was originally called Hosea Feed the Hungry and Homeless and it was known for providing hot meals, clothing, haircuts, and other services to the community on holidays. Omilami, who is a human rights activist herself, had supported her father’s efforts for over 15 years before she had to pick up the baton when her father passed away in November 2000. Since then, she has grown the brand and has broadened its reach nationally, providing not only food and clothing but also rental assistance, employment assistance, emergency shelter, and more.
Despite setbacks such as getting displaced from its headquarters and going through the pandemic, Omilami managed to keep doing the organization’s purpose which is to serve the people. She was also able to secure $2.8 million in funding from a fundraising campaign which allowed them to move into a new four-acre property and increase staffing.
“We have an excellent brand in the Atlanta area. So, people know that if they give to Hosea Helps, it’s going to be used for the people in need. And that’s where your faith comes in. You just suck it in and keep walking day by day, trusting God, knowing that you’re doing God’s work,” Omilami said in an interview with Style Blueprint.
Now that Omilami helped stabilize the infrastructure of the organization, she said she hopes she could also return to her other passion which is acting.
Le’Host Partners with Walmart to Launch First Franchise Model in Vegas
It’s a beautiful thing to spring into something new, and when it comes to having the right partnership, it’s even better. Henry and Haith Johnson, owners of Le’Host Hair & Wigs, have done just that. Over a year ago, they pitched their products to Walmart and are now featured in over 300 stores in 25 states.
This year the couple’s relationship with the world’s largest retailer came full bloom when they hosted their beloved business as a full-fledge franchise inside Walmart Supercenters. The launching location in Las Vegas is set to open May 1. An official grand opening and ribbon-cutting ceremony will follow.
“We know that we are making history in the beauty industries by collaborating with Walmart to service more customers and meeting the beauty needs.” –Haith johnson
The Johnsons took a quantum leap last month when they packed up everything they owned and moved from Detroit to Vegas. The Johnsons owned and operated the storefront Le’Host Hair and Wigs in Ferndale, Michigan, in the suburbs of Detroit, for 15 years. They have been in business together for over 25 years.
Le’Host is known for servicing women who wear luxury wigs as well as those who wear natural and protective styles. Le’Host specializes in working with cancer patients affected by hair loss and those who suffer with alopecia by creating custom wigs.
The results have been truly transformational from the inside out.
“Le’Host will always be a relevant company because we are the touchable brand that educates on how to use our hair care products that bring real solutions to real women. With new stores, we can introduce all of Le’Host merchandise in our catalog as well as develop new hair care products for Walmart and Le’Host customers,” says Haith.
Haith and Henry will serve in two distinctive but complimentary roles. Haith has been a licensed cosmetologist for over 30 years, and thoroughly understands the beauty needs of women. She will be very hands-on when it comes to overseeing and making sure customers get the absolute best service at affordable prices. In addition, Haith will meet other entrepreneurs interested in becoming franchisees, owning and operating their very own Le’Host inside of Walmarts in their states.
“As COO, I will oversee the business operations, ensuring it runs efficiently and effectively with intent to scale by opening more stores and collaborating with franchisees, as well as overseeing the running of the day-to-day operations to ensure profitability and expansion,” says Henry.
The Johnsons are faith-filled visionaries and attribute glory to God in their endeavors and for the massive doors that have opened on their behalf
“When you know who you are and your purpose, despite all the challenges, barriers, and difficulties you may have to go through to see the vision that God is giving you come to pass. It takes 100% dedication, resilience, determination, and faith,” says Henry.
Las Vegas is the first of many franchise locations to come. Next year, in 2023, they anticipate opening another location in Texas as well as introducing new products to the market.
According to Haith, “as Black small business owners, there are no words to express how blessed and excited we are in this moment. Never give up, never quit despite all your difficulties. As an entrepreneur, know that dreams do come true!”
Master Microsoft Office With This E-Learning Course
Microsoft Office has proven to be an invaluable tool for employees, students, and regular computer users alike. The program’s vast software suite has something for everyone. Excel is a leading program for charts and graphs. PowerPoint is a must for meetings or school presentations. Millions of students have used Word for composing term papers and essays.
While Microsoft Office has been beneficial for myriad people, mastery of its software isn’t always easy. eLearnOffice Microsoft Office eLearning helps you master each program so that you can get the most out of it. For a limited time, a lifetime subscription to this program is available for just $29. That’s a savings of 85% from its MSRP.
Through the use of bite-sized videos and exclusive quizzes, eLearnOffice works as a masterclass for Microsoft Word. More half a million people around the globe have benefitted from the program.
More than 1,200 Microsoft-approved lessons are offered through the program. You get to test your knowledge as you go with tests and quizzes. Courses and quizzes are updated to ensure you’re being taught the most relevant material.
You can also link your Microsoft Skills Score Dashboard to your resume to show potential employers just how proficient you are with Office’s software. Once you’ve completed the course, you’ll be given a certificate that’s approved by Microsoft.
“Very helpful, instructions are super easy and layout is step by step…thumbs up and 5-star rating from me!!!” writes Shawn, a network assistant from the United States.
Instruction for the courses comes from teachers from the International Academy of Computer Training. IACT’s clients include Fortune 500 companies such as Google, Intel, Dell, GE, among others.
Being proficient in Microsoft Office will not only benefit you greatly in the work and school arenas, but it can pay dividends – literally – with your career. Purchase this online course today and increase your proficiency with Microsoft Word.
Georgia Gubernatorial Candidate Stacey Abrams Sues State Over Fundraising Disadvantage
Georgia gubernatorial candidate Stacey Abrams is suing the Peach State for access to a new fundraising vehicle allowing her and others to raise unlimited sums of money.
The Hill reported that the suit, filed in federal court Monday, argues Abrams, who is making a second run at governor, is effectively the Democratic nominee for governor and therefore should be allowed to form what is known as a leadership committee that could take in unlimited donations.
The use of leadership committees by candidates was approved last year by Abrams’ opponent Gov. Brian Kemp, who is running for a second term and has already formed a leadership committee. The committee can be used by a select group of top candidates, including major party nominees.
One Georgia, Abrams’s campaign and her yet-to-be-approved leadership committee, argues in the suit that because Abrams has no primary opposition, she has clinched the Democratic nomination and should be allowed access to the same kind of fundraising vehicle as Kemp.
“Brian Kemp signed legislation giving himself exclusive access to a special fundraising committee, and he’s already raised millions of dollars into it,” Abrams’ campaign said in a statement. “Our campaign should have that same access.”
The suit included supporting documents from Georgia Democratic Party Chair Nikema Williams recognizing Abrams as the Democratic Party nominee.
Georgia”s gubernatorial election is expected to be as highly contested as it was in 2018, when Abrams and Kemp faced off. Kemp won, but he was also accused of widespread voter suppression as the former secretary of state purged 560,000 Georgians from voter rolls. An APM Reports investigation last year estimated 107,000 of the people purged would otherwise have been eligible to vote.
Former Republican senator David Perdue, who lost his seat to Jon Ossoff in the 2020 election, sued Kemp over the leadership committee. A judge ruled in Perdue’s favor, barring Kemp from using the funds in the primary, but not in the general election.
Additionally, Abrams’ campaign manager, Lauren Groh-Wargo, argues that by not allowing the leadership committee the voting rights activist will be at a disadvantage in the general election because Kemp’s committee will have a huge jump start.
White Couple Charged With Hate Crime in Killing of Black Navy Veteran at California Gas Station
A white couple has been charged with murder and hate crimes after killing a Black Navy veteran and youth pastor at a California gas station last week.
On Friday, Jeremy Wayne Jones, 49, and Christina Lyn Garner, 42, were charged with first-degree murder in the March 15 killing of Justin Peoples, 30, NBC News reported.
The charges carry a “special circumstance,” over the possibility that Peoples “was intentionally killed because of (Peoples’) race, color, religion, nationality or country of origin,” a March 18 complaint read.
If found guilty on the hate crime charges, the suspects face a prison term of life without the possibility of parole. In determining if race were a factor, prosecutors reviewed photos of a Swastika and the words “white power” tattooed on Jones’ body.
A third person, Christopher Dimenco, 58, was also charged in connection with the murder. Dimenco was hit with accessory to murder charges for helping Garner and Jones “avoid or escape” arrest, CBS News reported.
Peoples was shot and stabbed multiple times after walking into a Chevron gas station in Tracy, California, to get quarters for his girlfriend who wanted to do laundry.
The girlfriend, who stayed behind in their car, recalled seeing Justin Peoples enter the gas station before the suspects followed him inside, Peoples’ father, Maurice Peoples, said.
“He had the heart of a lion to survive but he just didn’t make it,” Maurice Peoples said.
Justin Peoples worked as a youth pastor at a local church and two jobs delivering auto parts and packages. He leaves behind two sons, ages 11 and 2, his father said.
“It doesn’t make a difference what color you are. Some are Black, some are brown, some are light-skinned….We have all colors, but we know the human race is the number-one color we need to be fighting for,” Peoples’ aunt Berniece Bass said.
Family Of Manuel Ellis Reaches $4 Million Settlement In His Wrongful Death While in Police Custody
Pierce County, Washington, has reached a proposed settlement of $4 million with the family of Manuel Ellis, a Black man who died in police custody in March 2020.
According to CNN, the Pierce County Council is set to vote on approving the settlement.
“This proposed settlement will bring the county’s involvement with this lawsuit to a close,” Pierce County Attorney’s Office spokesperson Adam Faber said. “As always, litigation settlements are made with risk management principles in mind. We recognize that the family and friends of Manuel Ellis are grieving, and we hope this settlement will give them some measure of closure.”
The lawsuit, filed in the U.S. District Court for the Western District of Washington, named six defendants, including the City of Tacoma, Pierce County, six Tacoma police officers—three of whom are still facing criminal charges—and two Pierce County sheriff’s deputies.
As part of the settlement, the claims against the county and its deputies will be dropped, but the lawsuit will proceed against the others. Matthew Erickson, one of the attorneys for Ellis’ mother and sister, said the family is happy with the settlement after a two-year fight for justice.
“We are happy to have reached this agreement with the county. Nothing about the last two years has been easy for the Ellis family,” Erickson said in a statement, “but at the end of the day I commend Pierce County for making the deliberate decision to seek a compromise rather than litigating this lawsuit to the nth degree.”
Ellis died the night of March 3, 2020. He went to a 7-Eleven to get snacks when he was stopped by two Tacoma police officers, according to the family’s lawsuit. Police eventually attempted to arrest Ellis for “trying to open car doors of occupied vehicles” and Ellis was restrained after a physical altercation, the Tacoma police said.
According to the Pierce County medical examiner, Ellis’ cause of death was respiratory arrest due to hypoxia, where the body is deprived of oxygen, caused by physical restraint. The same words were repeated two months later when former Minneapolis officer Derek Chauvin held his knee against George Floyd‘s neck for almost nine minutes, sparking the 2020 Black Lives Matter movement.
Three Tacoma police officers have been criminally charged for Ellis’ death. Officer Timothy Rankine was charged with first-degree murder while Christopher Burbank and Matthew Collins were charged with second-degree murder, according to the Washington State Attorney General’s Office. All three men pleaded not guilty and were released on $100,000 bail last May.
Jackson State University First HBCU to Have Televised Spring Football Game
The magic of Deion Sanders, a.k.a “Coach Prime,” continues to shine at Jackson State University. The Tigers will be the first HBCU (Historically Black Colleges and universities) to have a nationally televised spring football game.
According to Jackson State University Athletics, the 2022 Jackson State University football spring game will be televised live on Sunday, April 24 at 5 p.m. on ESPNU.
“Being the first HBCU to have our spring game nationally televised is a monumental leap in the right direction for Jackson State and all HBCU’s,” SANDERS said. “It’s time that we’re seen, heard, and recognized.”
The football game will be free and open to the public as the 2021 Southwestern Athletic Conference football champions will conclude the spring practice season at Mississippi Veterans Memorial Stadium.
Meanwhile, tickets for the 2022 JSU football season are on sale Monday t oFriday from 9 a.m. to 4 p.m. at the Mississippi Veterans Memorial Stadium box office. Tickets can also be bought online at ticketmaster.com.
After Coach Prime agreed to coach the Jackson State University football team, it became a family business. Shelomi Sanders, his daughter, has committed to joining her father at Jackson State University, the Clarion-Ledger reported, attending the HBCU along with her siblings, Shedeurand Shilo.
In his first year, Deion won the FCS coach of the year after taking the football team to the Celebration Bowl. Although the team lost, it was the first time it made it to the championship. Meanwhile, Shedeur, his starting quarterback, was named FCS freshman of the year as he led Jackson State to its first SWAC title since 2007. His brother, Shilo, a junior this upcoming season, and a defensive back for the football team, led the Tigers in interceptions.
Just an unreal rebuilding job by Deion Sanders.
Jackson State was 18-37 the 5 years prior to his arrival.
