At an event in Pittsburg two years ago, CEO of Google, Sundar Pichai committed to invest $1 billion over the next five years to Grow With Google, a program that helps people develop skills they need to find work or grow their business. In his re-commitment to “Grow With Google”, Pichai has announced $10 million would be set aside to for low-income minority entrepreneurs starting new businesses access to training and capital.
The American Library Association will receive $2 million in order to build entrepreneurship hubs at libraries in ten states. This support’s Google’s goal to commit to partner with community-based organizations that help to furnish low-income business creators with the resources they need.
“Small businesses make a big impact on our communities — creating jobs, treating customers like family, and often defining what makes a town unique,” wrote Google Small Business Ads product manager Kim Spalding in ablog postearlier this year. “Google is committed to helping these businesses use the power of the web to grow and thrive.”
Google went on to further explain the importance of small businesses that shape our world today. They revealed the following:
Google search for “mom and pop shops” recently hit a 3-year high
There’s 350 times greater search volume for local businesses than there was 10 years ago
Interest in “local shops” hit a record high in 2018
In Google’s “U.S. Economic Impact Report”, the company claims Google search and advertising tools created $335 billion in economic activity for millions of businesses, website publishers, and non-profits in 2018
“Grow With Google” is only one initiative the company has created to assist small businesses in fostering entrepreneurship. Google also has the CODE2040 program which seeks African American and Latino entrepreneurs outside of Silicon Valley. There’s also Google Primer, this uses 5-minute interactive classes to teach digital marketing and business skills to owners of small businesses and startups.
Udacity also committed to partnering with Google to create dozens of free course, and Coursera will launch their new program next year to train IT support professionals. Also check out Google for Small Business, this is designed to make things easier for entrepreneurs to find business tools and services!
So to all my entrepreneurial friends, the tools are out here and thanks to Google and its partners, you can make building your business just a little bit easier with access to these initiatives.
If you learn anything from gangs and gang culture in L.A., our hope is that you can learn about how business savvy they’ve become. Nipsey Hussle was a known member of the Crips, and while he was alive he created the phrase “The Marathon Continues”. In 2018, L.A. The Crips became an LLC, and have been making big business moves ever since. Their most recent move happened on May 16th when the Crip organization filed to trademark Nipsey’s phrase, “The Marathon Continues”.
Plans for “The Marathon Continues” will be used by The Crips organization to provide a number of services for the community. These services include: conducting youth sports programs, developing education manuals for others in the field of community organizing and gang prevention/intervention, entertainment services, and the creation of a documentary on all streaming platforms.
The Crips have released a press announcement to discuss how the organization plans to rebrand in order to focus on the local South L.A. community.
As business savvy as Nipsey was, he never got an opportunity to register the trademark of his phrase, “The Marathon Continues”, despite this being the name of his mixtape and the name of his clothing brand. Also, there has been no announcement if Nipsey’s family has approved the use/ownership of this phrase by the Crip organization. Now, if Nipsey’s family has not approved of the Crip organizaation taking ownership of this phrase, then someone will need to discuss how the children of Nipsey Hussle should also have some sort of stake in the now trademarked catchphrase. So far, there has been no indication about how the family feels about this business move.
How do women of color, feel about investing in the stock market? For many of us, it isn’t easy because investing simply isn’t something we’ve taken to time to quite rap our arms around. If we are being honest, many of us have 401Ks and we simply let it sit there without any real understanding of what’s happening with our own money. This is why Brown Girls Do Invest is such an important organization.
We were able to make it to the Brown Girls Do Invest session held in Atlanta, Georgia. Brown Girls Do Invest is a nonprofit 501(c)(3) organization for African American women. Their goal is to educate and invest in stocks, bonds, real estate, and multiple incomes. The organization was launched by wealth expert and economist, Bahiyah Shabazz. What we loved most about this event is that she brought together a group of expert black women who are actually at the top of their fields. We follow many of them on social media, so it was great to sit down and have a talk with them in person.
Danielle PierceTela Holcomb
Daniele Pierce is the founder of Women, Wealth, and Real Estate . Courtney Richardson, ESQ is the founder of The Ivy Investor, and a former investment adviser. Joanna Jane is a Change Agent, and Tela Holcomb is a six-figure stock options trader, and the creator of Trade Your 9 to 5.
Women of
Courtney Richardson, ESQJoana Jane
Color Can Invest By Simply… Starting
Here are some of the biggest lessons I learned at the Brown Girls Do Invest Event: The one
thing that stops most brown girls from actually investing is that we simply never start! Perhaps it’s out of fear, perhaps we believe that we don’t actually make enough money. At the event we learned for as little as $5 on some apps, you can start investing at any time. Many of us are great talkers, or great starters, but the hardest part is – the finish. In order to get our feet wet in the investment game, we simply just have to start. By starting, we are also on our way to learning.
I also learned how to focus on my primary goal. Do I want to invest for a long-term or the short-term? How do I decide which investments are for long-term investing-instead of short-term investing. Tela Holcolm advised that we should think about the items we would still use even during a recession. Items like toilet tissue, soap, and clothing detergents are items we would buy even if we were in a recession and trying to save money. She said these are the best options for a long-term investment. You also need to determine if you are a trader or an investor. Trading is buying and selling frequently, same day, ie Day Trading or Swing Trading. Investing means that you are in it for the long haul. These are all things you need to think about.
Also, if you’re beginner like most of us at this meet-up, one of the best apps to download for beginners is the Robinhood app. It’s easy to use and its free; you also get one free stock. Another good tidbit is that Youtube is a good place to learn. Many investment gurus have their own channel; find one guru you like on Youtube who knows what they’re talking about and has receipts, and follow them. Finance.yahoo.com and planet resolution are also great resources to learn about investing. Again the important step is simply to start. As suggested by Courtney Richardson ESQ, start with the top 10 products you use. Then research those products: who makes them, who’s the president of the company, look at ancillary companies, and are they even traded on the stock exchange. Then look at what the cost is to purchase stock, and if you can afford it.
We also learned the importance of deciding if we would prefer Class A Stock – pays the fee up front, Class B Stock- you pay over time. We discussed Mutual Funds and talked about real estate investing.
Daniel Pierce, real-estate investor who runs a popular Facebook group called, Women, Wealth, and Real Estate w/ Daniel Pierce suggested, if you are flipping houses or if you know someone that flips houses and they don’t know what their ARV is, you’re doing it all wrong. She asked that we have a clear understanding of what the After Repair Value (ARV), in order to ensure that we are actually making money on a project. If you want to know all about real estate, flipping houses tax liens, join Women Wealth and Real Estate on Facebook. She also suggested these tips:
Find out where you want to invest
How much do you want to invest
Do you want to be a landlord or a flipper
learn the neighborhood
Pierce, who is probably also an expert in Tax Lien Sales offered great advice discussing some of the ins and outs of the Tax Sale game, and how we needed to be careful because just because you win a bid, in some states the property may not be yours for up to another 2 years. Meaning owners have a certain amount of time after the bid to pay their taxes and get their land back. She suggested looking for tax liens that are a year and under, and to know the rules before you bid.
It was so much we learned, and so many terms and resources! Nerd Wallet, Financial Need Analysis, SEP IRA / SIMPLE IRA, Budget Expenses and Income, BIGAUDACIOUSGOAL, Life Insurance is NOT an Investment, need a Tax specialist, Financial Advisor, Real Estate specialist, 529, annuities-variable/fixed! It was enough info for everyone to go out and do the research we need to do in order to get our financial and investment lives on track.
It was truly a great discussion and these gurus are still on the Brown Girls Do Invest tour. Check them out in a city near you, and focus on getting your coins together!
In honor of Black History Month and a time where we truly need each other the most here are a list of Black Owned Businesses you should support this year and moving forward. The following brands are entrepreneurs that work extremely hard to make the best products and cater to their own people, in other us it’s made by US for US.
1. OmyGlo Cosmetics, owner Joelle Phillips. Now if you are familiar with Instagram she was the first to display the mixing of pigments in setting spray 2 years back and her video when viral. After such an impact on the beauty community she started and markets her own brand of the glow spray. Her products are marketed towards all ethnicities but mostly women of color. Now since then so many have stolen her idea including MAC cosmetics who received a lot of backlash in the beauty community for it. Never the less, this hard working black woman is still standing and going strong. Check out her products on omglocosmetics.com
2. Sonique Saturday, owner Sonique Saturday. This young woman has been popping for a long time with her unique bags and jackets with her own twist of “Fake” apparel; she has curated the “You Fake like This Burkin” bag along with many others. Now, it was a year or so ago when Gucci received backlash for stealing her idea when they introduced their “Real Gucci” spray painted leather bag, which mimicked her bag to the tee. Never the less her fans stood by her and made it known that they in fact stole their idea from her, but this woman is still thriving and has landed her bags with many influencers and celebrities. Shop her at sonqiuesaturday.com
3. Beauty Bakerie, owner Cashmere Nicole. When it comes to all things sweets, spice and everything nice this is the company to go to because it’s one of the cutest themes ever. This company markets towards black women with ALL products from lippies, eyeshadow, highlighters, contours, and foundation and now concealers. If you have never heard of them then I know you have been under a rock and especially after Huda Beauty stole their “bakery” theme and used it to introduce their new setting powders. Another company that seeks to steal ideas from small black entrepreneur’s but remains still standing. You can check them out at beautybakerie.com
4. The Crayon Case, owner Reynell Steward. This was like watching a movie at the speed of success this woman accomplished last year. She literally changed the makeup in an hour by grossing over 1 million in sales in 1 HOUR! Which was truly remarkable and something that has never been done before. Now, if you have never heard of the brand then you haven’t been looking to find out because she is very popular on social media. This company workers with black influencers and caters towards black women. You can check her out at the crayoncase.com
Aqueilla C. Terry, commonly known to many of her followers as “A.C.T” ; is a talented artists of this generation. Born and raised in Richmond, VA is truly a gem of her time. She has been writing for over 10 years as a young child to know a young woman in a world were “words” are her weapon of choice to achieve success. Often considered to be Erykah Badu’s daughter for her way with words, style, presence, music selections and overall persona. A.C.T. is definitely going to take over the world with wide range of creativity. Her ambition is driven by her will to succeed in reaching her goals, but by doing so by remaining herself along the journey. A.C.T. redefines the young black woman by sticking to her beliefs and who she is inside.
Affordable Housing is a hot topic in many cities around America, mainly because developers and builders have priced many of the middle and low income class out of towns and neighborhoods across the country. In some areas, many have come to believe that affordable housing is merely a concept because most cities haven’t figured out how to resolve the issue, while simultaneously providing fair treatment to all classes. Rapper, actress, mogul, and philanthropist Queen Latifah, is thinking of ways to resolve the affordable housing crisis in her hometown of Newark, New Jersey. Latifah now is adding Developer to her list of accolades, and she’s spending $14 million to build 76-unit residential town homes.
Latifah is expected to break ground this summer, working alongside GonSosa Development to build in New Jersey’s downtown district. Her units will consist of (1) 20 three-family town homes, (2) a three-story mixed-used building with (3) 16 additional units. The development will also contain a fitness center and a commercial space that will only be rented to nonprofits! 60 of the units will be rented at the going rate for the market, and 16 of the units will be affordable housing. The Market rate in in New Jersey for apartments are approximately $1,800 a month; no word just yet on what the “affordable housing” rates will be.
Rendering of the 76-unit residential town homes. Queen Latifah, a Newark native, is one of the investors. (Courtesy: BlueSugar Corporation and GonSosa Development)
Latifah was born in Newark and raised in East Orange, New Jersey. Although she cannot resolve the problem of affordable housing alone, it is great to see a celebrity, going back to the place where she’s from, becoming a wealth builder – and providing some kind of solution for something that plagues her community.
In a commencement speech she gave at Rutgers in New Jersey last may, Queen Latifah told the graduating class:
“I couldn’t be more proud to be one of Newark’s own today, this is home. Today’s Newark is stirring again, stirring because our greatest export was never a product, it’s always been the people. People like each of you — unique, strong, creative individuals.”
The units for regular housing are expected to be open in 2020 and the affordable housing part is expected to open in 2021.
Rendering of the 76-unit residential town homes coming to Springfield Avenue and South 17th Street in Newark. Queen Latifah, a Newark native, is one of the investors. (Courtesy: BlueSugar Corporation and GonSosa Development) BlueSugar Corporation and GonSosa Development
