Published On: 01-25-2023
Many grants and financial possibilities are available to black and women-owned companies. Small company grants range from the Ford Foundation to the SoGal Startup Grant. Chase for business's new Advancing Black Entrepreneurs initiative helps Black entrepreneurs grow their enterprises. The program provides counseling, instruction, and on-demand resources.
It's free. Financial health education, wealth-building seminars, and virtual workshops are included. Credit, inventories, and asset management are discussed. Advancing Black Entrepreneurs has helped hundreds of small businesses start or grow.
JPMorgan Chase & Co. pledged $30 billion to reduce the racial wealth gap over five years. The company will extend its initiatives with this funding. A $100,000 equity investment in a woman-owned firm is the IFundWomen Entrepreneur of the Year Award. The advisory board evaluates candidates. IFundWomen's most substantial donation is this one.
iFundWomen is a fundraising platform for female businesses. Grants, training, and other help are available. Healthy living is promoted by IFundWomen, which donates 20% of its fees monthly. Over $8 million is in their grant fund. iFundWomen works with numerous groups to assist women-owned companies in flourishing.
Black women entrepreneurs can get company capital through SoGal Startup Grant. To qualify, you must have a legally registered small business, self-identify as a Black woman or nonbinary entrepreneur, and have a scalable and high-impact business concept.
In addition to funding, the SoGal Foundation provides tactical fundraising help to its winners. With Winky Lux, Bluemercury, and Twilio, they can offer business tools, strategic counsel, and knowledge.
Grants and financing are great methods to start a business. Many federal departments and groups provide similar services. Black and women-owned companies can benefit from the Keep it Local Business Fund.
Members in good standing get a $4,000 business development award from the National Association of the Self-Employed. You may strengthen your business with this grant's free training and mentorship.
Minority-owned companies have long been supported by Lowe's. It donates the most to COVID (Comprehensive Operating Initiative for Disadvantaged Businesses) initiatives. Small company awards from Lowe's total $55 million. Minority enterprises received 91% of these grants.
A program for black women entrepreneurs received $5 million from the corporation. The First Women Grant Program qualifies. It asks candidates to produce a business video, and the core committee will choose the winner.
You must learn about grants and funding for black and women-owned businesses if you're an African American woman in business. Applying for the proper ones will be easier.
Black and women-owned firms are supported by the federal Minority Business Development Agency (MBDA). Small company innovation research grants and loans are available. They have state offices nationwide. If you're a Black woman entrepreneur, check out the First Women Grant Program. Fund your business with this free service.
It may not be easy to get funding if you're a Black woman starting a business. Traditional lenders have failed to aid women entrepreneurs, but government agencies are taking action. If you want to start or expand a Black women-owned business, there are grants. They give cash and support for your first five years in operation.
Sage and The BOSS Network created "Invest in Progress" grants. The initiative gives Black women entrepreneurs $10,000, mentorship, and education. Sage leads integrated accounting, payroll, and payment solutions. Economic, social, and environmental inequality is its goal.
The Ford Foundation has funded social issues for decades. Since 1908, it has been a major global philanthropy. The Ford Foundation encourages worldwide collaboration and supports brave social changemakers as an independent nonprofit grant-making organization. The Ford Foundation's civil rights work spans decades. In the 1960s, the foundation increased its support for racial justice groups.
Published on: 12/22/2022
When beginning your firm, developing your organizational structure is crucial. It may shield you from legal responsibility and send a message to investors and consumers about your business.
One of the first considerations a new company owner must make is the kind of business structure to choose. There are several company structure options, each with pros and drawbacks. It's advisable to consider your financial demands, risks, and objectives before deciding which company structure to use. A competent lawyer or CPA can guide you toward the best action.
Partnerships and corporations are the two types of legal entities used in commerce. Non-standard forms, such as limited partnerships and limited liability firms, are also available. Each has its own set of legal requirements and tax filings. Choosing the appropriate structure for your company to reduce liability risk is critical.
Generally speaking, a corporate legal structure's primary purpose is to provide the proper level of legal protection. For instance, in a limited liability business (LLC), the owner's private assets are shielded against claims made against them. But when recruiting staff, the company owner must also abide by federal laws.
Making the appropriate business structure selection is a crucial first step in starting your company. It affects how you interact with customers, partners, and tax authorities. Additionally, it affects your assets and how you raise money.
Both the state and federal governments have laws governing business formations. A sole proprietorship, corporation, and limited liability company are the three legal entities most often used. Different legal ramifications may apply to other organizations, such as trusts and unincorporated nonprofit groups.
Before registering their company with the authorities, business owners must decide on a business structure. Since the state will impose taxes and need a tax ID number, selecting the appropriate form is crucial. Most firms must also submit applications for the necessary licenses. Setting the proper structure also helps you avoid legal issues.
You may choose a company structure with the guidance of the IRS's many publications. Consider consulting a specialist for advice. The ideal company structure may be a potent weapon to obtain capital and safeguard your private assets.
One of the first considerations you will need to make when beginning a new firm is selecting a business structure. You may secure your assets and reduce your responsibility with its aid. It aids in your development preparation as well.
The most prevalent forms of business organizations are partnerships, limited liability companies (LLCs), sole proprietorships, and limited partnerships (LP). Each structure has its tax obligations and documents. Therefore you should get counsel from a tax expert.
Limited liability company arrangements protect members from personal accountability for corporate obligations. Members are also shielded from personal responsibility for money generated through their businesses. Typically, one-owner enterprises that don't need to raise a lot of cash should choose this structure. However, limited liability companies do not have the same tax advantages as corporations.
An autonomous legal body owned by shareholders is a corporation. Taxes on corporate income and costs are levied separately from shareholder personal income and expenses. They may have to submit applications for federal and state licenses and permissions.
Women entrepreneurs are a force to be reckoned with. They are risk-takers, innovators, and game-changers. And they are shattering the glass ceiling in businesses all over the world.
In the past, women were often relegated to supporting roles in businesses. But these days, more and more women are leaping and starting their businesses. In fact, according to a report by American Express, there are now more than 11 million women-owned businesses in the United States alone. And these businesses employ nearly 9 million people and generate over $1.7 trillion in revenue annually.
So what's driving this growth? Here are three factors that are fueling the rise of women entrepreneurs:
1. Access to capital. One of the biggest barriers to starting a business in the past was access to capital. But thanks to initiatives like crowdfunding and microlending, that barrier is quickly being removed. Women entrepreneurs now have more options than ever when raising money to start and grow their businesses.
2. Technology. Technology has leveled the playing field for businesses of all sizes. With tools like social media and cloud-based applications, women entrepreneurs can start and grow their businesses without investing in expensive infrastructure or hiring a large staff.
3. Changing attitudes. Attitudes towards women in business are changing inside and outside of corporate America. More and more people recognize that women have what it takes to be successful entrepreneurs. And as more women leap entrepreneurship, they inspire other women to do the same.
There's no doubt about it: Women entrepreneurs are on the rise. Thanks to factors like access to capital, technology, and changing attitudes, more and more women are starting their businesses and achieving success on their terms. So what does this mean for the future of business? Only time will tell. But one thing is for sure: The glass ceiling is well on its way to being shattered.
The symptom checker is becoming more well-known in the medical field. It is meant to help people comprehend their symptoms better and decide whether to see a doctor or get in-person care. Furthermore, it enables anyone to get medical advice without calling a doctor. It might also have unanticipated consequences like cyberchondria and a rise in the use of medical services.
Millions of individuals worldwide have access to symptom checkers powered by AI. However, despite being hailed as an essential tool for improving healthcare, they must be accompanied by explanations understandable to laypeople. These explanations might help boost self-assurance and encourage app uptake. Social theories explain why explanations are better than other explanations at spreading knowledge and building trust, even when no study has been done to assess the utility of these explanations.
An online symptom checker developed by researchers enables users to enter their symptoms and get a diagnosis without seeing a doctor. Participants who used the symptom checker said it gave them helpful information and insights that helped them get closer to a correct diagnosis. Additionally, 50% of the patients who utilized the tool reported improved health outcomes. However, several patients who discussed their findings with doctors voiced mixed feelings.
Healthcare cost management can be challenging, but technologies can help health plans with patient satisfaction and cost management. Many of these tools are available without charge and can be connected to a member portal account. For instance, they can help members compare prices on prescription drugs and find the best deals. In addition, by limiting the number of healthcare professionals in your insurance plan network, you can also save money.
Healthcare organizations can improve their financial understanding and staff cohesion by establishing a consistent financial review cadence. Additionally, allowing managers to understand variances can help close gaps and improve accountability. Another way to decrease costs is to increase visibility across executive executives, entities, and service lines. This promotes accountability, improves data-based decision-making, and saves time.
In the health care sector, AI technologies are improving workflows and removing administrative mistakes. Regrettably, the administrative burden drives healthcare costs by hundreds of billions of dollars annually. For instance, the US spends around twice as much as is needed for business intelligence and reporting (BIR) (BIR). This unnecessary expenditure is typically caused by low-value-added activity, fraud, and a lack of stakeholder involvement. Artificial intelligence (AI) solutions can enhance medical records transcription and automate the handling electronic health records.
Even though AI systems can predict outcomes and risk factors across enormous populations, human decision-makers are still required. One instance of an application of AI in healthcare is the prevention of drug overdose. In Michigan, the risk of overdose is calculated using information from patients' medication histories, electronic health records, and state-run prescription drug monitoring programs. For patients who are at risk, interventions are suggested based on these findings. By supporting human experts, these algorithms are designed to improve clinical decision-making.
Another situation where AI can reduce administrative errors is monitoring drug adherence. When prescriptions are not taken as directed, AI can notify clinicians, reducing costs. The massive issue of medicine non-adherence, which costs between $100 and $300 billion yearly, can be helped by AI. Additionally, it causes about 125,000 annual fatalities and about a quarter of all hospitalizations.
Time is money in the healthcare sector, and hospitals can accommodate more patients when patient experiences are efficient. By 2020, 33 million people are expected to be admitted to hospitals with various illnesses, insurance plans, and diseases among the patients. Therefore, hospitals must use AI to streamline the patient experience and improve profitability. In addition, to hasten and enhance medical decision-making, artificial intelligence can process billions of data points.
Healthcare organizations must develop AI solutions in a secure, moral, and consistent way. This necessitates developing a uniform regulatory framework and defining the responsibilities and functions related to AI technologies. In addition, the extent to which patients can use AI tools must also be made clear. This will increase patients' trust in AI-based solutions.
While saving money and enhancing patient care, AI creates ethical and legal issues. Additionally, it is projected that the rapid adoption of AI would cause healthcare professionals' displacement, raising equality issues. The technology hasn't, however, been fully utilized. But it promises to improve several aspects of medical care.
Published On:- 09-06-2022
06-23-2022
AI systems in healthcare aid in administrative tasks such as transcription of patient data. They reduce human error while increasing productivity. These algorithms can read and analyze data to assist physicians in making more informed decisions. AI can recognize and categorize common medical issues, as well as those that do not require immediate medical attention. According to Danita Doleman there are numerous advantages to using AI systems in healthcare. They are expected to increase efficiency while decreasing the workload of human medical professionals. Artificial intelligence systems have the potential to improve patient safety.
Training a computer entails teaching it a task rather than simply programming it with explicit rules. Humans provide massive amounts of "training data" in order to improve the model's performance. During the process, humans choose the best algorithm to learn and perform a task. With the help of specialized computing hardware, machine learning models can be transferred to other devices. These computers can be trained locally, obviating the need for large amounts of network bandwidth.
AI has the potential to completely transform our economy, society, and lives. Danita Doleman thinks that, it can also have an impact on governance, ethics, and societal effects. To ensure that AI meets the needs of society, people with broad minds and the ability to combine different fields of knowledge will be required. However, AI is not a cure-all. There is no way to guarantee that AI applications will succeed, but the benefits far outweigh the risks. The key to realizing AI's full potential is to ensure that it meets human needs and expectations.
AI is a hot topic in technology right now, and it is rapidly transforming our society. Artificial intelligence is already having an impact on businesses and government agencies. As artificial intelligence advances, investors have poured billions of dollars into AI startups. Even the United States Department of Defense has established a dedicated organization to ensure the successful implementation of AI technologies. AI will, in the end, alter our world. Artificial intelligence will have a profound impact on human affairs, and it may be the most significant innovation in human history.
As a means of regulating AI, ethical guidelines are emerging. Before cracking open "black boxes" and regulating individual algorithms, governments should consider broad AI goals. Attempting to regulate individual algorithms will stifle innovation and make it difficult for businesses to develop useful artificial intelligence. Another source of concern in AI is the possibility of bias and discrimination. Governments should apply existing anti-discrimination laws to digital platforms in order to protect consumers from unfair treatment. Governments can build trust in AI and use it to solve problems by doing so.
As the field of artificial intelligence expands, city officials are looking for ways to regulate and govern AI. A new AI taskforce will investigate algorithm accountability. The group proposed two requirements at its first meeting: making AI source code available to the public and requiring companies to simulate decision-making processes using real data. However, after receiving criticism, these requirements were dropped. As a result, the taskforce is currently evaluating these two requirements and will provide a report to the mayor by late 2019.
Self-driving cars and AI concierges are examples of how artificial intelligence is being integrated into the workplace. According to some estimates, AI will eventually replace about 8 million jobs in the United States, but experts do not believe this will happen anytime soon. Danita Doleman pointed out that, humans will need to adapt to a new workforce once AI becomes widespread. Meanwhile, experts predict that human jobs will become more specialized, necessitating more human skills. However, there is still a long way to go in terms of technology.
As AI technology advances, governments are investing in human capital. According to the National Science Foundation, the National Science Foundation supported over 6,000 students in computer-related fields last year. Meanwhile, the National Science Foundation has announced new initiatives aimed at increasing the number of people studying computer science and data science at all levels. In the end, these efforts hope to create a larger pipeline of AI and data analytics professionals in the near future.
According to a McKinsey Global Institute study, AI-led automation has the potential to boost China's GDP by 0.8 to 1.4 percent per year, depending on the rate of adoption. Despite AI's enormous promise, China is lagging behind, limiting its adoption of AI technology. However, its massive market size makes it an excellent candidate for development. The potential for growth is enormous, and government officials must increase their investments in AI and data analytics. The investment will more than cover its costs.
Published on: 05-20-2022
04/10/2022
Danita Doleman noted that it is helpful for individuals learning how to write a grant proposal for dummies to first determine who will be reviewing the application. Consider this scenario: you're writing a proposal for the Foundation Center - or another organization - and you want it to be as convincing as possible. Then consider what types of data they'll find persuasive, such as your project's history or aims. If you can demonstrate to the donor that you are willing to take their funding, you will have a far better chance of receiving the grant.
According to Danita Doleman the organization's focus and goals are summarized in a three-point list. This section should be placed at the end of the paragraph, or even earlier in the paragraph. You should use a standard font, such as Times New Roman in size 12. Check that the font size in your grant application is appropriate for the content. It's also a good idea to avoid using jargon in your conversations unless absolutely necessary.
For Danita Doleman it makes no difference how much money you have to work with; writing a grant proposal requires a thorough analysis of your vision and solution. Unfortunately, many grant applications are rejected for consideration. Written grant applications may be challenging, but by following these easy principles, you'll be well on your way to submitting an application that will be considered for funding. Remember that the process of submitting a grant application does not end with the award's approval; many programs need you to deliver monthly reports or updates to guarantee that the grant is being reviewed on an ongoing basis.
First and foremost, evaluate the foundation's goals. Before you write your letter, double-check that you are writing to an organization that shares your goals and objectives. The funder's areas of interest should be indicated on their website or in their application forms. If your organization works in the field of literacy, for example, you may not want to apply to a foundation that promotes environmental awareness and action. The same may be stated for its geographic position. Ascertain if your organization is financially suitable with the foundation's limits.
03/24/2022
You can see a lot of young entrepreneurs on the internet these days, which is becoming more prevalent. Children and teens are establishing enterprises as early as 10 years old, selling secondhand products, handcrafted things, and even creating their own businesses out of their homes. While the majority of these businesses are focused on information technology (IT)-related sectors, others are launching their own businesses with the hopes of one day generating a large fortune. According to the Boston Globe, Nick D'Aloisio, 15, sold his Summly news app to Yahoo for $30 million, and revenues from tiny kid-driven businesses routinely outpace his parents' income by a factor of two or three.
Danita Doleman revealed that many successful young entrepreneurs started their enterprises as non-profit organizations, which allowed them to take on less financial and legal obligations. The move from a nonprofit to a for-profit organization, on the other hand, may be challenging since a company must be founded with credibility and trust in order to succeed. As a result, it is critical for young entrepreneurs to maintain a good balance between their personal and professional life in order to avoid losing their enthusiasm for business. When starting out, a novice entrepreneur may find that he or she is unable to generate the initial sales because of a variety of circumstances.
Every year, the number of successful young entrepreneurs grows by a significant margin. There have been a handful of prominent instances throughout the last five years. Nick D'Aloisio, the 18-year-old creator of the search engine startup Summly, was one of the most successful of these entrepreneurs. His spectacular ascent may be attributed to the fact that he was subsequently bought by Yahoo. Another example is Ionut Budisteanu, a 20-year-old Romanian who won the Intel Engineering competition in the United States with a self-driving automobile he designed and developed.
Entrepreneurship requires a continuous process of learning and assistance. It is critical to get comments and to learn as much as possible. When compared to established specialists, young entrepreneurs have a distinct edge since they are less likely to get set in their ways and more likely to publicly seek out fresh ideas and solutions. Compared to their older counterparts, they are more open to new ideas and are less prone to suffer from "burnouts" or other issues in their careers. Their willingness to take risks and lack of fear of failure also distinguishes them from their counterparts.
As young entrepreneurs, it is critical to do market research and identify possible areas of disruption in the industry. Some sectors are already well-established and will provide excellent prospects for new businesses, but others have the potential to be disruptive by nature. Young entrepreneurs who want to be successful must think carefully about their future and share their good company ideas with others in order to be successful. A sound business plan may increase their chances of launching a profitable venture. Including their enthusiasm and ideas will guarantee that the firm develops and becomes more competitive as a result of their contributions.
According to Danita Doleman apart from networking, budding entrepreneurs should surround themselves with like-minded people who are also driven. They will be able to tap into their existing network and make new connections as a result of this. Social networking platforms may also help them meet other young entrepreneurs in their sector by connecting them with one another. It is also necessary to make preparations for the future. Keep in mind that beginning a company takes time, and you should have a realistic timeframe in mind so that you can prepare ahead of time if necessary. While you're still learning, it's critical to think about the long-term viability of your business.
Young entrepreneurs should also think about what kind of lifestyle they want to lead. Some business owners may desire to work long hours while their company is expanding, but running a business is a multi-step process that requires patience and perseverance. While it may seem to be a profitable concept at first glance, young entrepreneurs must carefully analyze all of the aspects of the project. Aspiring entrepreneurs often have a great enthusiasm for a certain subject; nevertheless, they will be more successful if they can strike a balance between their consciences and their aspirations. As an example, while selecting a profession, it is important to pick a field that the individual is interested in.
As part of their college education, young entrepreneurs should enroll in business classes as well as general education courses. During their high school years, individuals should take a business course to broaden their knowledge. This will provide students with the information and abilities they will need to establish their own company in the future. They may also get valuable experience via internships in the startup business. A college degree provides them with access to specific research opportunities in their field. These are essential tools for each aspiring young entrepreneur to have on hand. So, if you're thinking of beginning your own firm, don't be afraid to apply for business degrees.
If you want to establish a little firm or a major corporation, young entrepreneurs should have confidence in their talents and believe in their own potential to achieve on their own. They will have the confidence they need to take chances and be successful in their endeavors if they adopt the appropriate mindset. Danita Doleman pointed out that creating entrepreneur groups at their respective schools might also benefit other young entrepreneurs. In addition, they may plan events to educate other students how to manage a company from the ground up. Guest speakers who talk about entrepreneurship and discuss ideas for new enterprises with students may also be hosted by the organization.