A Fresh Start: New Year, New Strategy
With the start of a new calendar year, often comes an impetus to begin again, to renew, and to reassess priorities and goals. Similarly, with a new season and often coinciding with the beginning of a new academic year, some of these same sentiments come to the surface. As students consider new ways to innovate and maximize learning, business owners can see these times as opportunities to do the same and more. As priorities, opportunities, and trends continue to develop and shift, it is imperative for businesses to consider how they can pioneer, pivot, and lead. It is particularly important for business owned by BIPOC (Black, Indigenous, and People of Color) entrepreneurs, to consider these opportunities to differentiate and advance their business trajectories to mitigate the challenges presented in our increasingly complex marketplace. Here are a few ways that businesses can accomplish this:
- Participate in training to achieve and enhance new levels of skills and talents
- Attend events and/or develop an outreach strategy to expand your professional network and customer base
- Apply for funding opportunities to support new initiatives and provide continuity for existing programs
- Consider increasing capacity and reach by pursuing opportunities for operational support (e.g. internships, exchanges, apprenticeships, consulting, assessment, and partnerships)
- Research best practices and potential opportunities for growth and expansion within your field of interest
Resources:
https://ri-bba.org/small-business-programs-2/
https://www.unitedwayri.org/for-nonprofits/apply-for-grants/
http://odeo.ri.gov/offices/mbeco/
https://www.sba.gov/business-guide/grow-your-business/minority-owned-businesses
https://www.blackenterprise.com/9-marketing-tips-black-owned-small-businesses/
https://www.uschamber.com/co/run/business-financing/funding-options-black-owned-businesses
https://www.fundera.com/blog/minority-owned-business
https://blog.hubspot.com/sales/funding-black-owned-businesses
https://bootcamp.berkeley.edu/blog/small-business-toolkit-for-black-entrepreneurs/
About the author: Stephanie Mireku is RIBBA’s volunteer Content Writer and works with businesses, volunteers, and community members to highlight their and RIBBA’s work. Her passion for writing of all kinds, and background in English and Business Administration fueled her interest in combining these areas through the Content Writer role. Stephanie first became involved with RIBBA through the LEAP Mentoring program as a mentee in the 2021 cohort. She is enthusiastic about relationship building, mission centric creativity, social impact, and philanthropy, and puts this into action through various outlets including her work as an Assistant Director of Alumni Relations at Providence College.