The American Express OPEN Forum recently reported on the state of entrepreneurship among African-Americans and among Hispanics. Here are some highlights.
“Black entrepreneurs may struggle with challenges that are both common to small-business owners—access to capital and contracts, finding reliable employees—and unique, due to racial and socioeconomic barriers. And while more than 2.5 million businesses are owned and operated by African-Americans, according to the Census’ most recent survey of business owners, only 109,137 (or 4 percent) had paid employees—a data point that highlights just how many black entrepreneurs are trying to run a business entirely by themselves. (For comparison, there are 21.5 million businesses owned by white entrepreneurs, and 4.4 million—20 percent—have paid employees.)”
“But the small-business owners we spoke to aren’t defined by those barriers. ‘There are more new and existing black businesses making more,’ says Robert Smith of RSA Public Relations. ‘Yes, racism and prejudice still exists when it comes to funding, customer acquisition, etc., but you can’t let that stop you.’ There are numbers to back Smith up—black women are among the fastest growing group of entrepreneurs, and the revenue the largest black-owned businesses are pulling in has grown rapidly over the years. I spoke to several black small-business owners to learn about their hopes and concerns for their businesses, as well as their thoughts on the state of Black entrepreneurship in 2016.”
“Hispanic-owned businesses have nearly doubled in number over the past 10 years—to more than 3.2 million, generating $475 billion in annual revenue. What’s interesting is that this trend is occurring nationwide, not just in traditional Hispanic strongholds like Miami and Los Angeles. Hispanic-owned business is also booming in middle America towns like Louisville, Kentucky, thanks to a swelling wave of institutional and government support, an increase in educational opportunities and a deeply embedded culture of entrepreneurship among Hispanic immigrants.”
“OPEN Forum profiled three cities with very different pockets of Hispanic business ownership and looked at the factors that are driving their success.”
When searching for a job, are you effective? There are many excellent digital tools that can assist you in undertaking a better job search.
As Maria Onzain writes for Tech.co:“Do you feel your job hunt efforts are inefficient? Do you want to jump-start your career but not sure how to do it? Using the right technology will help you build up a winning resume faster. Each of these digital tools will help you in the different phases of your job hunt.”
With Uptowork, “choose one of 20 templates in 400 colors and let this resume generator guide you. Once you have filled out all the sections, you will be able to edit and personalize it before getting a URL to share. From the dashboard, you can to track your resume’s performance and check how many times it has been seen and downloaded by recruiters.”
Use Grammarlyto “make make sure your resume and cover letter are error-free. Copy and paste your resume in this platform, and you will instantly see if you have made any grammar mistakes.”
Through Jobscan, you can “check if your resume is tailored to the job description. Jobscan optimizes your resume keywords against the job description. All you need to do is paste your resume and the job description, and it will scan it for you.”
WithGlassDoor, you can “get to know companies inside out. You can search for hundreds of companies all over the world and find precious information including, but not limited to, first-hand employees reviews, salary expectations, and details about the enterprise’s specific recruiting process.”
JobHerocan “help you manage the whole job searching process. With the smart browser extension, you can save job opportunities from across the Web and you can access a personal dashboard to track the application process.”