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Poem By Korea L. Howard INTIMACY When I look at her I can see All the complexity of her impurities I can see all her flaws and failures I can see all her ugly and her beauty I can see all her sadness and feel her pain I can see all the good and all the bad I can see what she had and what she has I can see what she gained and what she lost I can see her sacrifices and count her cost I can see her passion and fire I can see her grit and desire I can see all the cheerfulness and applaud I can see her for who she is, no facade I can see her and not judge her for her past I can see the success that is in her future I know who she is in the present I can hear her anxiety from miles away I can hear her excitement which last for days I can see every tiny hair on her skin I can see the goosebumps on her arms I can see her smile and feel her charm I can see her anger and feel her wrath I can see her glow when she laughed I can see what makes her awesome I can see what makes her great I can see what she loves and what she hates I can see through her tough exterior I can see into her permissive interior When I look at her I can see All the complexity of her impurities Because SHE is me Intimacy - In-to-me-I-see
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CONFRONTING THE PAST TO REDESIGN THE FUTURE
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INCLUSIVE INVESTING
Bill Huston BILL HUSTON EDUCATION CENTER https://juniques.builderall.net/bhecblog
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INCLUSIVE INVESTING
Inclusive Investing Building Black Wealth
Introduction In a report by the Institute of Policy Studies they examined the racial wealth gap today and in the year 2043 when the United States is projected to become a minority-majority country based on racial/ethnic demographics. As this majority-minority becomes a reality we must examine the financial implications of having most of the country living in poverty, with a very small percentage of business owners, and limited access to capital to expand or start new companies. There is a myth of that basis the middle-class on income instead of wealth. This is a very dangerous measure of the financial indices of the health of the nation’s households.
The Racial Wealth Gap According to an Economy and Labor article If this racial wealth divide is left to grow unabated the median Black household wealth is on track to reach zero by 2053 and the median Latinx household wealth is projected to hit zero twenty years later. If current trends continue, by 2020 median Black and Latino households stand to lose nearly 18% and 12% of the wealth they held in 2013, respectively, while median White household wealth increases 3%. At that point–just one year from now–White households are projected to own 86 times more wealth than Black households and 68 times more wealth than Latinx households.
According to an article by Janelle Jones the declining wealth of households of color is already taking a significant toll on the broader economy. The nation’s overall median wealth decreased nearly 20% from 1983 to 2013 ($78,000 to $64,000—a period when Black and Latinx median wealth decreased, but White wealth slowly increased. Even earning a middle-class income does not guarantee a family middle-class economic security. White households in the middle-income quintile—those earning $37,20161,328 annually—own nearly eight times as much wealth ($86,100) as Black middleincome earners ($11,000) and ten times that of their Latinx counterparts ($8,600). If the racial wealth divide continues to accelerate, the economic conditions of Black and Latinx households will have an increasingly adverse impact on the economy writ large, because most US households will no longer have enough wealth to stake their claim in the middle class. To be truly middle class would mean financial stability, money to weather challenging economic situations, or money to invest in the economic opportunities of their children.
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The 21st Century American Middle-Class The solution is to “invest in a 21st-century American middle class.” This would include policies like the JOBS Act of 2012 Title III and Title IV that provides a pathway for inclusive investment for everyone over the age of 18. There also must be an intentional effort on the part of government policy makers to improve access to capital for entrepreneurs of color in the United States that is diverse both demographically and geographically. Today there exist a geographic divide in access to venture capital. The geography of high-tech startups remains extremely concentrated and unequal, with the Bay Area and the Boston-New York-Washington Corridor accounting for roughly two thirds of all venture capital-backed investment across the United States.
Geo-Diversity of Venture Capital Initiatives like the Rise of the Rest started buy ALO founder Steve Case that provides catalytic investment in the Heartland of American in response to the highly concentrated venture capital investment patterns that focus on the two coasts. But there must be more done to make sure that there are inclusive mechanisms for both entrepreneurs and investors and there must be a gender/racial lens to these programs that provide access to both technical assistance and investment capital.
The Dismal State of Venture Capital According to entrepreneur magazine out of $85 Billion in VC Funding in 2017, Only 2.2 Percent Went to Female Founders. And Every Year, Women of Color Get Less Than 1 Percent of Total Funding. Not only that, under 3% investment professionals at VC firms are black or Latinx. The percentage of venture-backed companies with female founders has been stuck at approximately 17 percent since 2012. In 2017, women only received 2.2 percent of the total VC funding for the year, which was $85 billion. According to DigitalUndivided’s biennial Project Diane study, which looked at the state of black women founders in the United States, since 2009, businesses led by this cohort have raised $289 million of the total $424.7 billion raised during this period -- or just .0006 percent of the pie. A Stanford University survey in 2016 found that roughly 1 percent of all Latinx-owned businesses launched between 2007 and 2012 in the United States fundraised with venture capital or angel investments.
Change the People Funding Businesses A 2016 study conducted by Deloitte and the National Venture Capital Association found that just 2 percent of investment professionals are black, 1 percent are Latinx and 15 percent are Asian/Pacific Islander. The underlying issue for why there isn't more money going to women and underrepresented minorities is that those are not the people who are around the table making investment decisions. Changing or increasing the diversity among the investment partners is what's going to have the long-term impact on funding. Susan Lyne, managing and founding partner of BBG Ventures
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White entrepreneurs rely primarily on bank business loans to help make ends meet, Black entrepreneurs rely more on personal credit cards, according to a 2016 Kauffman survey titled “Startup Financing Trends by Race: How Access to Capital Impacts Profitability.” Why? Because Black business owners believed lenders would reject their businesses, the survey found. About 17.7 percent of business loan applicants are Black, but 53.4 percent of those applications were turned down, a 2017 Federal Reserve analysis of 2014 Census Bureau data shows. In comparison, 13.1 of White business owners applied for loans, and only 24.7 of those applications were turned down.
Implementing Community Capital Strategies Are acutely aware that most small businesses and startups struggle to get access to capital and underserved communities of color receive extremely small amounts of funding from traditional funding sources. So, instead of protesting and complaining maybe small businesses and small-scale real estate developers should begin to implement different methods of finding and deploying capital. We are going talk about 6 different types of investing alternatives that are on the cutting edge of new capital formation for underserved communities of color. There are many new and emerging forms of alternative finance that provide pathways to the democratization of capital in underserved communities of color. Many of the communities find themselves to be isolated in urban centers and are areas of concentrated poverty. These areas of concentrated poverty tend to be places that lack hope and many residents become trapped in the despair and hopelessness of the environment. But just like policy created these community’s policy and the commitment of investors that want to see their communities changed can use their dollars to vote!
Rewards Crowdfunding Crowdfunding is a new and evolving fundraising alternative that connects social media with an accounting and finance mechanism to aggregate capital on a single platform. Crowdfunding provides a platform for entrepreneurs reach out to the “crowd”—which could include their friends, customers, neighbors, supporters and social network—for funding. The idea is that lots of smaller sums of money can take the place of one or two large investors or patrons, and that technology can help streamline the process. While crowdfunding began as a means for struggling artists to finance their creative endeavors, it has evolved into a mechanism for nonprofits and startups to fund their projects too. Crowdfunding websites enable anyone with an idea to raise money from virtual strangers and eliminate many of the barriers to seeking capital from traditional investors and institutions.
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What is Crowd Investing Crowd investing is the term given when a large group of people, the crowd, co-invest in people, real estate. or business online. Crowd investing encompasses both equity and debt forms of investing as well as hybrid forms of the two. Those investing together don’t necessarily know each other before they decide to invest. The JOBS Act was signed into law by President Obama in 2012, allowing companies and real estate developers to acquire funding through online portals from nonaccredited investors, which roughly accounts for 97 percent of the population in the United States. On May 16, 2016, Title III of the JOBS Act, also known as regulation crowdfunding, or crowd investing was the last section to be implemented by the SEC. With such a large pool of potential investors looking to enter the market, the crowdfunding and investment communities would be extremely welcoming of Title III — but it seems like the exact opposite is happening. This could be because not enough is understood about this type of crowd investing. As a consultant who has participated in all types of crowdfunding, I’ve seen significant benefits to all platforms, including crowd investing.
The Promise of Crowd Investing Crowd investing provides the best opportunity to transform our communities in the shortest amount of time. Crowd investing, just like regular equity investment, allows entrepreneurs to sell shares of their business to private shareholders, shares that can potentially be sold later at a much higher price per share. That's how you attract real investment capital, and that is why crowd investing will eclipse venture capital funding as the leading source of startup capital by 2020. Today, black and Latinx entrepreneurs and real estate developers can tap the $3 trillion in spending power in the community and transform the average African-American and Latinx into an investor and consumer that allows money to circulate in our communities building individual wealth and accumulated community wealth. The process of locavesting and crowd investing will create jobs and wealth in the Black and Latinx community.
Locavesting, Crowd Investing, and Recycling Community Dollars Locavesting is a term that I came across in my work as a crowd investing consultant. I will state for the record that my interest in crowd investing learn much more toward local real estate development and local business development than towards the tech startups. I believe that underserved communities must consolidate and recycle their wealth through real estate development and local business development that provides job creation and wealth generation in their community first. According to a Locavestor blog post written by Amy Cortese “Small businesses—which by definition are locally owned—create two out of every three jobs in the U.S., employ half the private workforce
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and generate half of private GDP.” “They create local wealth by keeping money circulating locally—that’s called the local multiplier effect. They provide the foundation for a healthy and diversified local tax base and contribute to the health and well-being of their communities.”
Crowd Investing Benefits Raise capital from your customers, so now your customers are owners! Crowd investing is a way to connect with the people. It provides a platform predicated on neighborhood and community among residents, business owners and real estate developers. By allowing customers and community residents to invest in companies and real estate developments focused on bettering their lived experiences, entrepreneurs and real estate developers are providing opportunity for residents to literally take ownership of their futures. This is a win-win situation and an immense benefit of crowd investing.
Crowd investing provides a new opportunity! Professors, politicians, and community activist have touted the value of black people taking all the money we spend on clothes, shoes, and hair, and put it into investing or starting a business. Well, it would be impossible to take all of our money and invest it businesses or real estate, but we can set aside a portion of our dollars to invest in the people that desire to start a business or develop real estate and that have the required temperament and skills to be an entrepreneur or real estate developer and invest in them. Crowd investing provides investment opportunities that have never in our history in America existed!
Crowd investing is the answer to raising capital and marketing your business! The U.S. rate of entrepreneurship has declined over the past 30 years, but entrepreneurial activity in the African American community has increased. The problem is access to capital. Black entrepreneurs start businesses, but—often—do not have access to the capital necessary to market and grow those businesses over time. Data from the 2015 Survey of Business Owners shows that the number of businesses majority-owned by Black women grew 67 percent between 2007 and 2012, compared to 27 percent for all women and 13 percent for White women. Nielsen quantifies that growth at 1.5 million Black woman majority-owned businesses as of 2015. Crowd investing provides a platform for these black women to share the risk and reward of entrepreneurship with their community as investors and consumers.
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Crowd investing Empowers the Black Community Crowd investing has the potential of unleashing $1.3 trillion in black buying power to fund black businesses and real-estate projects and as one of the greatest wealth building opportunities ever made available to the African American community. But none of this will come to fruition without us acting on the opportunities that crowd investing have brought to the table in our community. African Americans have historically been frozen out of wealth building opportunities necessary to build generational wealth. Usually, when wealth building opportunities have been made available, it was only after other communities had access. This makes crowd investing singularly unique in African American history. Crowd investing allows black investors and entrepreneurs to have access from the beginning and can share in the economic gains made by startups growing and hiring. Black consumers— trendsetters—can use their dollars and influential platform to select which products, services, and solutions get funded from the beginning.
Takeaway Crowd investing is a great opportunity to both support local business and build livable communities. It provides an opportunity for small businesses, the ones that have the hardest time finding funding, to get investments from those likely to patronize them: residents. It puts business owners in a place to create a different narrative about their business and who they serve, while allowing them to focus their marketing and fundraising effort in a concentrated area, saving time and money. Goldman Sachs estimates that crowd investing has the potential to be a $1.3 trillion industry. For diverse founders, crowd investing can be a game changer for companies and real estate developers seeking investment. It's a wealth-building opportunity for investors previously restricted from investing in startups. Online investors have been quick to respond to the growing number of investment opportunities and offers and, as a result, crowd investing is growing by leaps and bounds. The process has been slower in communities of color for a number of reasons, but Buy the Block and Bill Huston Educational Center have a mission to provide the needed education and platforms that will position our communities to take full advantage of this President Obama era law. For more information on how to participate in this new inclusive investment process please click the link https://juniques.builderall.net/bhecblog
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