The 2022 Annual Business Survey (ABS) revealed that there were around 5.9 million employer firms in total. Out of these, 1.2 million (21%) were owned by minorities, 304,823 (5.2%) were owned by veterans, and approximately 1.3 million (22%) were owned by women. These businesses together generate over $1.8 trillion in revenue and employ 6.3 million workers. However, some minority-owned businesses are facing challenges that are holding back their growth. Bank of America's 2022 Women & Minority Business Owner Spotlight highlights that 46% of Women & Minority Business Owners have faced difficulties in accessing capital, among other challenges. Minority-owned businesses should remain vigilant and watch out for these challenges in 2024.
Integro Bank is partnering and celebrating with Local First Arizona to showcase local small business successes at this month's Integro Bank CEO Club. The panel will spotlight three local businesses moderated by Thomas Barr, VP at Local First Arizona.
As a former business owner and having 15 years of IT experience working in the banking industry, I have witnessed firsthand the evolving landscape of today's business culture. Small businesses face unique challenges when it comes to accessing financial services that cater to their specific needs. However, I am thrilled to share how Phoenix-based Integro Bank, under the visionary leadership of CEO Thomas J Inserra Inserra and EVP Elaine Szeto, is spearheading a transformative shift in the way small businesses are banking.
TAGS:
banking innovation,
small business,
revolutionize your business,
Small Business Support,
Future Of Business,
Community Of Entrepreneurs,
Women CEO,
Women In Leadership,
Integro Bank,
Networking Opportunity,
Professional Development,
Game Changers,
small business,
community banks,
Integro360,
financial advisory,
fintech
Local community banks play a vital role in the economic and social fabric of communities. Community banks focus on serving the needs of their local communities. They provide essential financial services to individuals, small businesses, and local organizations. By offering loans, mortgages, and credit facilities, community banks help stimulate economic growth, create jobs, and support local entrepreneurship.
Integro Bank is excited to provide business owners and leaders the opportunity to meet and listen to a celebrity speaker "B. Taylor" who is an Award-Winning Artist, Producer, and decorated Navy Veteran. B. Taylor has three #1 Top Charting Records, is a Goodwill Global Ambassador and Advocate of Entertainment for the U.S. Military, Veterans, First Responders and Their Families and will be speaking on his journey and lessons learned as a business owner and entertainer.
The US has 12.3 million women-owned businesses. A recent American Express study shows that, as of 2019, women-owned small businesses make up 49 percent of all businesses. According to womenable.com 2016 report, since 2007, the number of women-owned firms has grown five times faster than the national average.
This month we go in-depth on the largest portion of your business plan, the marketing strategy. Start the year with a strong business plan. The speaker and presenter this month will be Nancy Padberg, MBA, President & CEO of Catholic Education Arizona.