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Booming entrepreneurship among black women

Booming entrepreneurship among black women

WASHINGTON – Cheryl Lofton had never intended to be a small business owner. Her grandfather, J.C. Lofton, was the first African American to own a tailoring school and related business in Washington, D.C. She spent her summers working with him, learning the craft. She was able to earn money while enrolled at Howard University by ironing, mending, and tailoring her classmates' clothes.

When her grandfather became ill, she found herself spending more time on the business – including purchasing a new building – and less time sewing and attending to financial matters.

"The day I opened the doors to the new building was the day he died," she recalls. "I was the first college-educated person in my family, and I went so I wouldn't have to join the family business. But my conscience wouldn't let me let the business go under. At the time, no one else in the family was interested or able."

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The business of childcare

The business of childcare

Quality childcare is not just about babysitting and entertaining the child. As competition amongst centers increases, so does the need to offer a creative and learning environment where a child's appetite for learning is stimulated.

Tiffany Glover, owner of The Academy of Creative Learning, makes it her mission to challenge and develop young minds at her three-star academy. Equipped with an advanced degree and credentials, Glover prides herself on heading up a staff of like-minded professionals that use every opportunity to educate and motivate the children in their care.

Carlee McCullough: Tell me about yourself?
Tiffany Glover: I am the owner of The Academy of Creative Learning. I hold an MBA and I have over 18 years of professional experience as a human resources professional, entrepreneur, leader, early childhood educator and consultant. Additionally, I have a credential as a Tennessee Early Childhood Administrator (master level).

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1 in 6 unemployed are substance abusers

1 in 6 unemployed are substance abusers

NEW YORK – About 1 in 6 unemployed workers are addicted to alcohol or drugs – almost twice the rate for full-time workers, according to the government's National Survey on Drug Use and Health.

The survey shows that 17 percent of unemployed workers had a substance abuse disorder last year, whereas 9 percent of full-time workers did so. The numbers are self-reported, and therefore, could be even higher in reality.

Substance dependence is defined by several factors, including having withdrawals, repeatedly using a substance over the course of one month and witnessing related adverse effects at home, work or school. Addictions to alcohol, illegal drugs and misused prescription drugs are all included.

 

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On Our Way To Wealthy: day-cares

On Our Way To Wealthy: day-cares

Entrepreneurs with a passion for childcare and child development may become attracted to the idea of day-care business and what they consider a lucrative calling. The demand for services is increasing steadily and as the industry has evolved, so have the reimbursement formulas.

Parents in search of quality childcare typically will find their options fall into three categories: family care provided by a relative, in-home care provided by a nanny or babysitter, or day-care center.

Competition among day-care businesses is fierce. As more people move into the childcare business that equates to more options for parents and potentially diluted attendance at many centers. On the face of it, a move into childcare would appear a profitable business venture. However, state regulations have increased, funding formulas have caused decreased payments, and many centers are barely operating at break even.

 

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Walmart VP pitches principles to biz-seeking entrepreneurs

Walmart VP pitches principles to biz-seeking entrepreneurs

Service, price and commitment to the community are bankable principles the way Kevin S. Jones sees them and he shared that viewpoint while in Memphis last week.

Vice President of Inbound Transportation for Walmart Corporation, Jones was the keynote speaker last Friday (Nov. 16) at the Holiday Inn-University of Memphis as the Mid-South Minority Business Council (MMBC) Continuum and the Minority Business Development Agency (MBDA) Business Center wrapped up MEDWeek 2013.

Walmart, said Jones, was founded on the principles of service, price and commitment and still operates on them today. Small business owners who become part of the corporation's system of suppliers mirror Walmart's embrace of those principles, he said.

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Dan Loeb reveals stake in FedEx

Dan Loeb reveals stake in FedEx

NEW YORK – Hedge fund manager Dan Loeb revealed a stake in FedEx Tuesday morning, adding the he likes the stock and the management of the company.

Shares of FedEx spiked following the announcement.

Speaking during a conference Tuesday hosted by The New York Times Dealbook blog, Loeb told the audience that he met with FedEx CEO Fred Smith in Memphis last week.

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Time to raise minimum wage!

Time to raise minimum wage!

The first federal minimum wage of 25 cents an hour was established in 1938. Since then, it has been raised 22 times. It's time to increase the floor for the 23rd time, from its current $7.25 to at least $10 an hour.

According to the Center for Economic Policy Research, the value of the minimum wage peaked in 1968. If the minimum wage had been indexed to the official Consumer Price Index each year, the minimum wage today would be $10.52. The last time the minimum wage was raised was in 2007, when it was raised from $5.15 to $7.25.
Still, there is resistance.

Republican leaders say raising the minimum wage will cost jobs. But opponents, such as Washington Post columnist Jared Bernstein, argue that rather than job loss, employers compensate by charging higher prices and increasing productivity.

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