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William Michael Cunningham - Thriving As a Minority-Owned Business in Corporate America: Building a Pathway to Success for Minority Entrepreneurs

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William Michael Cunningham Thriving As a Minority-Owned Business in Corporate America: Building a Pathway to Success for Minority Entrepreneurs
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Thriving As a Minority-Owned Business in Corporate America: Building a Pathway to Success for Minority Entrepreneurs: summary, description and annotation

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The dramatic increase in minority- and female-owned companies continues to transform the business world while setting standards for those who follow. Thriving as a Minority-Owned Business in Corporate America offers you a comprehensive guide to current practical knowledge of minority business development, from grants and loans to market building. This book demonstrates how you can use specific laws, institutions, and new technologies to set up and steer your business to success.

Expert coverage includes both established and underused resources at the federal, state, and local levels dedicated to minority business expansion. You will learn how to tap resources made available by government agencies like the Minority Business Development Agency (MBDA) and programs such as the Offices of Minority and Women Inclusion (OMWI). Non-governmental funding sources (e.g., banks, credit unions, venture capital) are also examined in depth, with sound advice on approaching each.

The author explores the critical role of social media in leveling the playing field, spotlighting minority/female business-related sites and strategies for leveraging your online presence. And he provides real-world guidance on business certifications, tax breaks, credit issues, and more.

Whether youre in start-up or expansion mode, after reading this book, you will have the know-how needed to seize the opportunity and succeed with your enterprise.
What You Will Learn
  • Discover unused and unrecognized resources at the federal, state, and local level set up specifically for minority business
  • See the difference between banks, thrifts, credit unions, angel investors, and venture capital, and how to approach each
  • Use social media in support of minority business development goals
  • Examine social media sites and trends: current and relevant minority business related social media sites and trends

  • Who This Book is ForAnyone: Asian, Hispanic, women, Black or White who wants authentic, impactful information on creating or supporting minority-owned businesses.

    William Michael Cunningham: author's other books


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    Book cover of Thriving As a Minority-Owned Business in Corporate America - photo 1
    Book cover of Thriving As a Minority-Owned Business in Corporate America
    William Michael Cunningham
    Thriving As a Minority-Owned Business in Corporate America
    Building a Pathway to Success for Minority Entrepreneurs
    Logo of the publisher William Michael Cunningham WASHINGTON DC United - photo 2
    Logo of the publisher
    William Michael Cunningham
    WASHINGTON, DC, United States
    ISBN 978-1-4842-7239-8 e-ISBN 978-1-4842-7240-4
    https://doi.org/10.1007/978-1-4842-7240-4
    William Michael Cunningham 2021
    This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed.
    The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use.
    The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.

    This Apress imprint is published by the registered company APress Media, LLC part of Springer Nature.

    The registered company address is: 1 New York Plaza, New York, NY 10004, U.S.A.

    Dedicated to:

    My father, Paul Nicholas Cunningham Sr., my big brother, Paul Nicholas Cunningham Jr., my sister, Pamela Lynn Cunningham

    My beloved Aunts

    Catherine Harrison

    Geraldine Harrison Bland

    Bertha Harrison Saunders

    Marrietta Harrison Arrington Whitaker

    Henrietta Harrison Jerman

    Joyce Harrison Park, DDS

    Rosa Harrison Lee Kyler

    and, of course, my mother

    Marie Harrison Cunningham

    Written for

    Aunt Ruth Nelson (95 and still going strong)...and, for the youngest, Anaya.

    Introduction

    This book aims to be a key reference resource for minority businesses and their supporters and customers. We explore and examine current trends, provide a directory of minority business developmentrelated resources, and document new ways minority businesses are thriving. We specifically include relevant information of the recent wave of corporate Black Lives Matter support pledges.

    The main topic covered is the current state of minority businesses in the United States. We will look at minority businesses with an optimistic eye.

    We explore the positive impact of the dramatic increase in the number of women and minority businesses created in the early 2010s and the increase in the type of firms.

    We honestly discuss government contracting, including the Minority Business Development Agency (MBDA), the Offices of Minority and Women Inclusion (OMWI) from Dodd-Frank section 342. Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act contains a provision creating an Office of Minority and Women Inclusion at various agencies to monitor the diversity efforts of the agencies, the regulated entities and agency contractors.

    The book is important because it highlights unused and unrecognized resources at the federal, state, and local levels. There are many national, state, and local organizations focused on minority business development. We list and evaluate these entities.

    This book is a need to have title because of the comprehensive, objective, and honest advice and information it provides on minority business development (in the midst of the most challenging period for the sector).

    The author is one of the longest serving analysts in understanding and analyzing minority business and impact investing trends. His performance is second to none:
    • His 2015 presentation at the Texas Association of African American Chambers of Commerce resulted in successful crowdfunding legislation for the State of Texas. See www.creativeinvest.com/TexasEconomicForecastCrowdfundingBill.pdf .

    • As he forecast on December 26, 2016, Under any conceivable scenario, the current situation is very bad, and I mean toxic, for democratic institutions in general and for people of color specifically. Bottom line: our Fully Adjusted Return Forecast** indicates that, over time, things will get much, much worse. See www.linkedin.com/pulse/trumpism-william-michael-cunningham-am-mba/ .

    • As he noted on June 11, 2016, our initial 2016 Election Fully Adjusted Return Forecast indicates that Donald J. Trump will win the election for the Presidency of the United States. See Why Trump Will Win at www.linkedin.com/pulse/why-trump-win-william-michael-cunningham-am-mba .

    What Readers Will Learn:
    • The state of minority business development in the United States

    • Relevant and effective resources for minority businesses

    • The difference between banks, thrifts, credit unions, angel investors, crowdfunding, venture capital, and how to approach each

    • How to create a business plan, how to fill out loan, grant, and credit applications

    • How to use social media in support of minority business development goals

    • Social media sites and trends: current and relevant minority businessrelated social media sites and trends

    Data files and other relevant information are available for download. The URLs are: https://github.com/Apress/thriving-minority-owned-business and https://www.creativeinvest.com/thriving/ .

    Acknowledgments

    I would like to thank my college and graduate school interns, current and former, for their help. They are a remarkable group of talented young people. I have been honored to work with them all.

    Mr. Andrew Taber, an economics student at Emory University, has been extremely helpful. He worked on this book as part of two summer internships with Creative Investment Research.

    Other interns I would like to thank include Ethan Li, American University Washington Mentorship Program, Alice Gabidoulline, University of Michigan, Grace Pottebaum, American University Washington Mentorship Program, Faisal Gbadegbe, Georgetown Law School, Joseph LaRosa, The Ohio State University, Lana Feteiha, Dickinson College, Carlisle, PA; Christopher Moreira, American University Washington Mentorship Program; Amarilis Soler, Florida International University; and Yuyang Zhang, Boston University.

    I would also like to thank Armani Jackson at FedEx Office in Maryland for printing early draft chapters for proof reading.

    (Of course, any remaining errors and mistakes are mine and mine alone.)

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