Hellow guys, Welcome to my website, and you are watching Tips For Black Business Owners From The CEO Of A Black-Owned Bank. and this vIdeo is uploaded by Forbes at 2023-08-08T09:00:04-07:00. We are pramote this video only for entertainment and educational perpose only. So, I hop you like our website.
| Name | Tips For Black Business Owners From The CEO Of A Black-Owned Bank |
| Video Uploader | Video From Forbes |
| Upload Date | This Video Uploaded At 08-08-2023 16:00:04 |
| Video Discription | With interest rates at a 22-year high, Michael Pugh says Black business owners crunched for cash should look to community-based financial institutions for help. “Learn more about them; we have a very different scope [regarding loan arrangements],” Pugh, the CEO of New York-based Carver Federal Savings Bank, tells Forbes of community banks. “We have to make sure we extend our arms and get out there and tell people what they need to know to start achieving that generational wealth.” August is National Black Business Month, and ForbesBLK is highlighting the theme with special discussions about sustaining and expanding Black firms. Based in Harlem, Carver is one of the largest Black-run financial institutions in the U.S., celebrating its 75th anniversary in 2023. The bank is named after George Washington Carver and trades on the NASDAQ. Pugh was named CEO in 2012. Black businesses generated $206 billion in annual revenue and supported 3.56 million U.S. jobs in the last decade, according to the non-profit Brookings Institution. However, though Black people comprise 14.7% of the U.S. population, the community represents 12.4% of sole proprietorship and only 2.4% of employer businesses. Brookings said the stats show “disparities” that hold back Black entrepreneurs and “restrict economic opportunities for entire communities, which in turn impacts local prosperity.” Brookings also notes that access to sufficient capital remains a lingering issue for Black-owned businesses. That causes entrepreneurs to rely on personal funds and credit cards to finance operations. Read the full story on Forbes: https://www.forbes.com/sites/jabariyoung/2023/08/08/bank-ceo-has-this-tip-for-black-business-owners-who-need-capital/?sh=27bdfd0c2559 Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1 Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more: https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes: http://forbes.com Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success. |
| Category | People & Blogs |
| Tags | Forbes | Forbes Media | Forbes Magazine | Forbes Digital | Business | Finance | Entrepreneurship | Technology | Investing | Personal Finance | Carver Bank | Jabari Young | Black business month | Black business | Buy Black | investment | how to invest |
