The unique challenges faced by most small black and minority-owned business owners is more than funding, although a lack of funding is the biggest challenged for any business it is most prevalent in a black-owned business. Other components that contributes to black and minority-owned business failures includes lack of mentorship, lack of strong friends and family network financial backing, Although there’s a growing black middle class, according to the U.S. Census Bureau, the average African-American household income is the lowest of all the races, at $40,258 per year, compared to $50,486 for Hispanic households, $68,145 for White households, and $81,1331 for Asian households. So, if you’re a black entrepreneur and you’ve resorted to using your own cash, or you’ve decided to turn to your family and friends for funding, you’ll almost inevitably start with lower capital
A more targeted holistic approach is needed, and to get there it’s essential that we understand all the factors that contribute to successful entrepreneurship.
Beauty BOASS is more than business plan writers and consultants. We believe in helping our members jump-start their business ideas by providing an environment geared toward growth and success.
At Beauty BOASS we offer mentorship, private business networking, social media marketing, teaming and collaboration, business planning and development tools, and an opportunity to pitch your ideas to a members-only investment panel. That’s right we help fund each other’s ideas.
Who knows your next big idea just might be the game-changer for the Industry.
Together We Bring Strength in Numbers
Minority-owned small business owners need more help now than ever before.
At Beauty BOASS, we are unique in our offering in that we go beyond the call of duty to help our members with business support.
Today’s small businesses need a combination of strategic insight, management expertise, industry know-how, and funding. This is where we come in at helping our members with one-on-one consulting that delivers results.