Category: Entrepreneurial Journey

Starting a Business With Little to No Capital

Owning your own business offers flexibility, creative freedom, and unlimited income potential. Lacking financial resources doesn’t mean you are out of luck! According to this article in Forbes, it is possible to still start a business with limited funds. no money. Some tips from the article include: keep your day job while working on your business during your free time, choose a business idea that doesn’t require upfront capital (such as freelance writing, virtual assisting, or social media management), scale up gradually, and utilize free resources and networking opportunities. Check out the link to the article to read more!

“Your Financial Maven” Podcast Episode

Samantha M. Besnoff is a CPA, podcast host AND early graduate of our very own Women’s Entrepreneurship certificate program. Samantha reached out to our Program Director, Kirsten Barker, to have a conversation about financial considerations that go into launching a business.

We are so pleased that Samantha has stayed in touch with the Institute long after completing the program and is dedicated to improving financial literacy with her Your Financial Maven podcast. If you are interested in listening to her chat with Kirsten, you can tune in on @iheartpodcast, @applepodcasts, or wherever you listen: https://apple.co/3BAVTms

Black Female Founder Shares Experience in Raising Venture Funding For Her Health-Related Startup

Vanessa Rissetto (left) and Tamar Samuels (right) cofounded Culina Health. 
Lauren Anzevino

In this article from Business Insider, Vanessa Rissetto, co-founder of Culina Health, a digital platform connecting clients with nutritionists for virtual sessions, has raised $9.75 million in venture-capital investments. Rissetto discusses the importance of investing in women of color and leveraging investor relationships, while acknowledging the difficulty of fundraising for Black women founders in healthcare.

Six Reasons Why Small Businesses Fail

The article from Business News Daily discusses six common reasons why small businesses fail and provides advice on how to minimize or avoid their negative impact. These reasons include poor cash flow, inadequate leadership, disengaged employees, lack of business planning, strong competition, and failure to adapt to changes in the market.

The article suggests that to address these challenges, small business owners should prioritize financial planning, establish clear organizational structures, foster employee engagement, create comprehensive business plans, conduct competitive analyses, and be adaptable to industry trends. Additionally, the article highlights the importance of cultivating a supportive and collaborative work environment and investing in leadership development programs to ensure that businesses are well-positioned for success.

Five Women Business Owners to Watch!

According to a recent survey by human resources software company Gusto, in 2020 and 2021, startups led by women accounted for 49 percent of all new ventures, compared to just 28 percent in 2019. Despite this growth, only 2.1 percent of venture capital funding went to women-led businesses in 2022. This is despite the fact that women-led companies, according to a Boston Consulting Group study, return 150 percent more on average for every dollar invested in them than businesses led by men.

This article in Newsweek profiles five women founders who are making strides in varied industries such as footwear, healthcare, food and beverage, tabletop games and technology. Their stories inspire while also offering useful tips on how to navigate the initial hurdles of entrepreneurship.

Chanae Richards Shares Her Journey Launching oloro interiors

Chanae Richards is the CEO & Principal Designer of ọlọrọ interiors, an interior design firm with offices in Philadelphia and New York. Chanae is also a graduate of the Women’s Entrepreneurship certificate program. She was recently featured in this article and video in Black Enterprise. We are so proud of the amazing journey she has been on and can’t wait to see where success next leads her!

Abena Foli Shares Her Startup Journey with POKS Spices

Featured recently in this article in the Cornell Chronicle, Abena Foli shares how her inspiration to bring West African flavors to the US marketplace was the idea behind her launch of POKS Spices. Foli is a graduate of the Bank of America Institute for Women’s Entrepreneurship certificate program and discusses how specific coursework as well as the connections made in the program opened her eyes to funding and resources that were available to launch and scale her business. We are so proud of all that she had achieved so far and can’t wait to see where POKS Spices goes next!

Female Entrepreneur Turns $10K to $2MM in 2 Years

Tiffany James from Modern Blk Girl

Tiffany James , a 27-year-old African American woman from New York City, is the founder of Modern Blk Girl, which helps educate women on how they can build wealth through investing. James was inspired to launch this venture and share her knowledge after she turned a $10,000 starting investment in the stock market into $2 million in just 2 years. Read more about her investing journey and her commitment to educating women about building wealth in this article in Black Enterprise.