UrbanGeekz has teamed up with Finance Savvy CEO in a new partnership to support women and minority-owned startups.
The Atlanta-based firms are collaborating to boost the financial health of this growing demographic. It comes as research increasingly shows that founders who benefit the most from business financial literacy skills are also the same groups that face the biggest barriers.
In this brand-new alliance, UrbanGeekz will provide 5 full-ride scholarships to the Finance Savvy CEO 2022 winter cohort of Your Profit Playbook. The hands-on program helps underserved founders build the financial roadmap for their business and provide them with a sustainable future for their ventures.
“I’m thrilled to be partnering with Finance Savvy CEO,” said Kunbi Tinuoye, founder and CEO of digital news platform UrbanGeekz. “At the end of the day, the difference between a hobby and a business is cash flow. Every startup founder and savvy entrepreneur should be focusing on financial profitability to build a sustainable business.”
“I’m so excited by this collaboration,” said Marguerite Pressley Davis, founder and CEO of Finance Savvy CEO. “Once again it shows UrbanGeekz’s commitment to making an impact in the community.”
“From 2007 to 2020 women-owned businesses grew an impressive 58%,” said Pressley Davis. “During the same period, the number of firms owned by Black women grew 164%, that’s nearly 3x the growth rate for women-owned businesses. Despite starting businesses at a high rate, only a startling 7% of black women are running ‘mature businesses’.”
“Some of the biggest obstacles to success are confidence and practical know-how regarding the financial side of business,” adds Pressley Davis, a former Wall Street analyst and financial strategist. “The top reason that businesses fail is financial issues and cash mismanagement. In fact, 60% of operating small businesses are not profitable.”
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