Thu04242014

Business

TREPS to some, young entrepreneurs to others

TREPS – according to the Urban Dictionary – is short for young entrepreneurs and the word has made its way into mainstream culture as do most words associated with things cool and hip.

Tune into shows such as "Shark Tank" or visit websites such as www.entrepreneur.com, and you are likely to encounter a growing class of business owners who are the embodiment of the term. This month, TREPS will be our On Our Way To Wealthy focus.

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Tennessee lands six companies among top-grossing black-owned businesses

Six Tennessee companies are among the nation's top-grossing black-owned businesses as listed in Black Enterprise magazine's 40th annual BE100s report.

The cornerstone of the publication's June issue, the analysis includes 230 companies broken down into seven categories: industrial/service companies, auto dealers, advertising agencies, private equity firms, investments banks, banks, and asset management firms. The Black Enterprise list is widely recognized as the most authoritative analysis and ranking of the nation's most successful African-American companies.

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Costs of care giving

More than 65 million Americans – about one out of three adults – provide care for someone who is ill, disabled, or aged. Although these caregivers are unpaid, the total value of their efforts is estimated at $450 billion annually – more than the value of paid home health care and more than the 2010 retail sales of Wal-Mart, the world's largest retailer.

Not surprisingly, about two-thirds of all caregivers help someone who is age 50 or older

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What’s with the newfound interest in Africa?

by James Clingman
NNPA News Service

Have you noticed all the current efforts to promote business opportunities in Africa? I sure have. Have you wondered how now, all of a sudden, so much emphasis is being placed on Africa by politicians? I sure have. Have you seen and heard about conferences and initiatives taking place across this nation that stress the importance of business connections with the Motherland? I have, too.

Why is this happening now? Why is Africa so vital to our economic interests now?

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Church Leaders: Empowering the African-American community

Churches are social service agencies, particularly in the African-American community, says the Rev. Dr. Kenneth S. Robinson, pastor/CEO of Saint Andrew African Methodist Episcopal Church. He expounds on that concept and more in the conclusion to a two-part "On Our Way To Wealthy" conversation.

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Prepare your kids for summer job expenses

by Jason Alderman
NNPA News Service

High school and college students hoping to find temporary jobs may be in for a tough time this summer – once again – as they compete with older, more experienced workers in a still-struggling economy. But if your kid is fortunate enough to find work, there are a few things he or she – and you – should know about the economic and tax ramifications of temporary employment:

Payroll deductions. If this is their first job, warn your kids about common payroll deductions that can take a big bite out of take-home pay.

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E-business boost for women-owned firms

The Tennessee Small Business Development Center (TSBDC) at Southwest Tennessee Community College recently helped four women build their own web-based businesses.

TSBDC provided 15-week, business-building course sponsorships to the women, who demonstrated a need and willingness to set up and grow their own profitable e-businesses.

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‘My Sisters’ Keeper’ financial bootcamp set to kick off July

The National Coalition of 100 Black Women (NCBW), Inc., Memphis Chapter is sponsoring its first "Sisters' Keeper" Financial Bootcamp for African-American women beginning July 2 at Literacy Mid-South.

The Sisters' Keeper program is a six-week, structured financial bootcamp designed to assist African-American women with establishing and living on a budget, developing good saving and investment practices, understanding and managing credit and debt

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Church Leaders: Empowering the African-American community

The Rev. Dr. Kenneth S. Robinson, pastor/CEO of Saint Andrew African Methodist Episcopal Church, guides an enterprise of ministries, funded programs and corporations that stretch the traditional concept of a "church."

As a multifaceted, faith-based, social service and community development agency, a major part of St. Andrew's mission is to actively demonstrate faith by works.

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The split-annuity strategy

The split-annuity strategy involves purchasing two types of annuity contracts: immediate and deferred. The immediate annuity would provide a current income stream during the early years of retirement, and the deferred annuity would have the potential to provide a future income stream.

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B-A-M-M – ‘We just keep doing what we’re doing!’

No conversation about the church and economic development is complete without referencing The New Olivet Baptist Church and the Rev. Kenneth T. Whalum Jr. For years, Rev. Whalum and First Lady Sheila Whalum have supported African-American business and literally sent thousands of customers to deserving businesses through their Bust A Move Monday Initiative.

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Designating retirement plan beneficiaries

IRAs and defined-contribution plans have become an important component of personal wealth – averaging roughly 60 percent of the assets of U.S. households with $100,000 or more to invest, according to recent research.

Designating account beneficiaries (in light of your overall estate conservation strategy) and keeping those designations up to date can be a complex process

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‘The Church,’ community and economic impact

For many years, African-American churches have been the catalysts of change in society. Churches have pushed the envelope as it relates to spiritual and social issues. Given their collective money, political power and expertise, churches continue to be in a unique position to impact the community from an economic perspective.

The challenge of determining where the church begins versus the business venture may forever exist.

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