August 14th is the annual observance of the importance of African-American businesses to their communities and to the national economy. The goal of the month is to support their economic development, retail promotion, job creation and technology innovation.
During August 2017, individuals, institutions and businesses are encouraged to visit at least one black business per day. It’s projected that the increased sales from that traffic could result in more than 40,000 additional jobs during the month and as many as 450,000 if the patterns are continued over the course of a year.
The SmartBiz Loans online platform levels the playing field for small businesses regardless of ownership . The company funds approximately 6% of all its’ SBA 7(a) loans to Black-owned businesses compared to a national average of only 2%. To celebrate our minority-owned businesses, we’re featuring quotes from high profile, successful black leaders. Do you have a favorite we missed? Please share in our comment section!
Where there is no struggle, there is no strength. – Oprah Winfrey
What makes networking work is that it sets up win-win situations in which all parties involved get to take something home. Networking is a sharing process. Until you understand that, you won’t have much of a network. —Black Enterprise Founder and Publisher Earl G. Graves Sr.
If you’re a competitive person, that stays with you. You don’t stop. You always look over your shoulder. – Magic Johnson, Magic Johnson Enterprises
Never be limited by other people’s limited imaginations. – Dr. Mae Jemison, first African-American female astronaut
I believe in destiny. But I also believe that you can’t just sit back and let destiny happen. A lot of times, an opportunity might fall into your lap, but you have to be ready for that opportunity. You can’t sit there waiting on it. A lot of times you are going to have to get out there and make it happen. —Forty Acres and a Mule Filmworks CEO Spike Lee
All business is personal…Make your friends before you need them. – Robert Johnson, RLJ Holdings
I don’t believe in fear – I live my life without regrets. – Sean Combs, Bad Boy Records
Successful people have a bigger fear of failure than people who’ve never done anything because if you haven’t been successful, then you don’t know how it feels to lose it all. – Jay-Z, Musician
Every time I go into a new venture, I find a “rabbi” who has the business acumen to help me understand the mechanics of that industry, the costs involved in developing a product, and what you need to do in order to make a profit.—Hip-Hop Music and Fashion Mogul Russell Simmons
Do you need extra funds for your small business? An SBA loan is the best bet for small businesses with low rates, long terms and low monthly payments. Visit SmartBiz Loans® today and discover in about five minutes if you’re qualified to apply for an SBA loan with one of our bank partners. Use the promo code “blog” and receive $500 off of your closing costs.