The U.S. Small Business Administration (SBA) Administrator Jovita Carranza announced the SBA is offering low-interest federal disaster loans for working capital to small businesses in California regions that have been economically impacted by the severe storms and flooding that occurred in San Bernardino County Nov. 27- Dec. 1, 2019. The disaster declaration was made on Feb. 12, 2020, following a request from Governor Gavin Newsom’s representative Mark S. Ghilarducci.
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Ecommerce software platform Volusion released a report on the top places in the United States with the greatest share of minority-owned startups. Their findings show that five out of the top 15 metropolitan areas with the highest share of minority-owned startups are in California, and only the top nine areas have more than 40 percent minority-owned startups.
Los Angeles has announced a new policy that gives LGBTQ businesses—those owned by members of the lesbian, gay, bisexual, transgender and queer community—opportunities in contracting and procurement, as well as for capacity building and educational programs from small businesses. This places the city as the United States’ largest municipality in population and economic size to have such a policy.
The 2018 State of Women-Owned Businesses Report, commissioned by American Express provides detailed information and statistics regarding women business owners in the United States, including minority women’s gains in entrepreneurship and challenges they continue to face.
There are approximately 8 million minority-owned businesses in the United States, and each faces its own obstacles in terms in reaching success, such as access to capital and location. LendingTree just released a new report on the top cities where minority-owned businesses are succeeding, such as those whose annual revenue exceeds $500,000, and places where businesses are struggling to remain afloat.
More women are pursuing entrepreneurship as a source of wealth-building and financial independence. According to the 2017 State of Women-Owned Businesses Report, the number, and revenue, of women-owned businesses in the United States has more than doubled in the last 20 years. This trend is prevalent in Chicago, the Heart of America, where women are seeking the American Dream by starting their own businesses, selling products and services that they care about.
If you’re coming to the 2018 NAWRB Conference, “Year of Women,” this weekend in Chicago, why not support local women-owned businesses? Here’s a list of eight Chicago women-owned businesses you might want to check out during your time in the Windy City.