C E L E B R AT I N G B L AC K AC H I E V E M E N T T H RO U G H O U T F L O R I DA
VOLUME 26 ISSUE 2 MARCH/APRIL 2023
TELLING HERSTORY WE CELEBRATE FLORIDA’S MOST COMPELLING BLACK WOMEN
TIME TO GET AWAY? MAKE IT A GIRL’S TRIP
PUBLISHER RICH BLACK LAUDED FOR SOCIAL JUSTICE ACTIVISM
WOMAN OF THE YEAR WRITES HER OWN RULES ON GENERATIONAL WEALTH
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BUSINESS
BLACK WOMEN
OUTPACE ALL ENTREPRENEURS BY LAKEISHA FLEMING
P
andemic job layoffs and job market shifts are leading women to create companies in larger numbers. They are changing the face of entrepreneurship on a national level. Entrepreneurship among Black women has experienced explosive growth. Businesses owned by Black women grew 67% from 2007 to 2012 and by 50% from 2014 to 2019. Research from the Harvard Business Review shows that 17% of Black women in the United States create or lead a business, compared to 10% of white women. We look at why this fast-growing segment started their businesses, their ability to weather the pandemic, and resources to help other women step out as entrepreneurs.
Learn and talk about cannabis in a safe space.
THE NEW FACE OF WOMEN ENTREPRENEURSHIP Women in the United States own over 12 million businesses. Black women run more than a third of those businesses. The business landscape completely changed with the COVID19 pandemic. As consumer needs shifted, these women seized opportunities to provide new services. Other women-owned companies have continued to prosper despite the impact of the pandemic. Businesses led by women employ over 10 million workers. Female entrepreneurs contribute significantly to the economy. Combining their interests and expertise, they create thriving businesses that supply viable sources of income.
WHAT LED TO LAUNCHING A NEW BUSINESS? Millions of workers lost their jobs during the COVID-19 pandemic. Black people were disproportionately affected by job market losses, with higher job losses and lower rates of employment recovery than other ethnic groups. The losses led to creative solutions, with more than four million new business applications filed in 2020 alone — an increase of more than 20% from 2019.
HOW TO SUPPORT WOMEN ENTREPRENEURS Buying products and services that women-owned businesses offer is one of the best ways to show your support. Women entrepreneurs also need support with business planning, strategizing, and access to capital to help their businesses grow. The National Minority Supplier Development Council offers scholarships, programs, networking, and certifications. The U.S. Small Business Administration's Office of Women's Business Ownership (WOSB) provides access to credit and finances, along with training and federal contracts. Women's Business Enterprise National Council is an approved certifying entity for WOSB's federal contracting program. Supporting these businesses makes a difference now and in the future. 22 ONYX MAGAZINE
Educate. Learn. Talk About Cannabis in Florida.
WHAT IS AN INTRAPRENEUR? An intrapreneur is an individual who acts like an entrepreneur while working at a big company, instead of owning their own business. Although working in a corporate management system, an intrapreneur introduces new ideas and takes calculated risks with new ventures. An intrapreneur shows initiative, seeking out creative solutions and projects.
HOW DO I START MY OWN BUSINESS AS A WOMAN? Determine your area of interest and expertise. You want to start your business with a solid foundation. Put systems in place to keep you organized, with everything from finances to customer interactions. Reach out to local organizations for tips on growth and support in your area. Network with other business owners who can share information on business grants and other resources. Be open and adaptable to change. Be flexible in creating the schedule that works for you. If you are most creative first thing in the morning, shift other administrative duties to keep that time free. Make taking breaks in the day a priority. Self-care is not selfish; it's a necessity to help you function. Continue to learn about your industry and stay aware of consumer trends.
Explore FAMU’s free online cannabis education modules
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Marijuana Use Poses Great Risk for
ADOLESCENTS
We know there's a much stronger correlation between suicide and depression, so the studies are not saying that marijuana is a cause of suicide, it's correlated,” she explained.
Every parent knows the challenges that come with raising a child going through adolescence. It’s a period during which many youths cope with anxieties related to peer pressure, schoolwork, family life or other personal struggles. It’s also a time when young people’s brains are still developing, a phase that usually lasts until they are about 25 years old. Dr. Miriam Mandel describes the teen brain as a “huge construction site,” the kind of workplace where marijuana use is best avoided. Dr. Mandel, a board-certified pediatrician in Ohio says teens using recreational or street marijuana may experience cognitive and behavioral problems, including memory lapses, brain fog, insomnia, major depressive disorder, anxiety, and or paranoia. She warns that those using cannabis with high potency THC Tetrahydrocannabinol) are at risk of psychosis, such as schizophrenia, which she says typically emerges during the adolescent years. While frequent pot use is not good for youths’ behavioral health and can cause depression, “there are no statistics to support there is actual marijuana causing suicide,” says Dr. Lyn-Lassiter, a qualified medical marijuana and a licensed emergency medicine physician practicing in South Florida. However, Dr. Mandel said there are studies showing a correlation between “chronic” use and suicide. “This chronic use may start a slow creeping anxiety and/or depression, and they may need more marijuana to satisfy their anxiety relief.
Both doctors encourage parents to educate themselves — and their children — on marijuana and recommend the National Institute of Drug Abuse’s website, https://nida.nih.gov, as a good resource for information. “If a lot of these kids in high school and college knew some of the risks that they're doing to their developing brain, such as how marijuana lowers their IQ, changes their concentration, increases their risk of mental health issues and greatly affects their attention, they wouldn't do it,” Dr. Mandel says. Visit https://bit.ly/CannabisYouthRisk to watch MMERI’s Conversations on Cannabis Virtual Forum featuring board-certified pediatrician Dr. Miriam Mandel and Dr. Safiya Lyn-Lassiter, a Florida qualified medical marijuana physician, discuss why marijuana use is causing some teens and young adults to consider suicide.
This commentary is provided by the Medical Marijuana Education and Research Initiative (MMERI) of Florida A&M University.
ONYX ON THE MOVE
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COMMUNITY HERO
he Tampa Bay Lightning honored Samuel Lamar Wright, Sr. as the Lightning Community Hero this evening during the first period of tonight's game against the Colorado Avalanche. Wright, who received a $50,000 donation from the Lightning Foundation and the Lightning Community Heroes program, presented by Jabil, will donate the money to Tampa Alumni Chapter of Kappa Alpha Psi Fraternity, Inc./GuideRight Foundation, Tampa Black Heritage Festival, CDC of Tampa Bay, Voice the Movement, and the NAACP/The Tides Foundation. Dr. Wright, a member of ONYX Magazine’s Advisory Committee, is a well-known community activist and public servant who has been influential in numerous ways to better African American students and the Tampa Bay community. He has spent 27 years working in various roles at University of South Florida, where he has used his leadership roles to advise student organizations about diversity and urged their involvement in communities of color. His work has directly led to a diversification in roles not only at USF but throughout our community.
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VALENTINE’S DAY BIRTHDAY PARTY
he seniors of West Lakes community in Orlando really know how to throw a party! Each Valentine’s Day, they gather for food, dancing and a great time at the L. Claudia Allen Center in Orlando. They also always have cake and balloons in celebration of ONYX Magazine Publisher Rich Black, who was born on the day of love!
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O Founded in 1870, St. Paul African Methodist Episcopal Church, one of the longest standing, and most important African American churches in Tampa, is now a part of Soulwalk. Photo courtesy of City of Tampa.
a city that honors its history, a city that is not afraid to confront its challenges of the past, and a city that highlights the Black voice and the accomplishments that helped shape our community.” Brown is the Multicultural Business Development executive at Visit Tampa Bay. The Soul Walk is scheduled to open in 2024.
HIGHWAYMEN HISTORY
SIXTH ANNUAL COLLARD GREEN FESTIVAL
TAMPA LAUNCHES THE SOUL WALK
ampa Mayor Jane Castor and other city leaders launched an exhibit called, Soul Walk in February to highlight African American contributions from the past to the present. The walkable exhibit spans 46 miles and 25 neighborhoods within the city of Tampa. Along the routes, visitors can take in nearly 100 stops from lenticular prints at the Perry Harvey Sr. Park to historical landmarks, churches, and murals that highlight the Black communities. ONYX Magazine’s 2019 Women on the Move honoree Sherri Brown said, “this walk will be attributed to the people who built this great city and to the challenges that they overcome,” she said. “The Soul Walk represents
BE A PART OF
NYX Magazine joined the sixth annual Tampa Bay Collard Green Festival (TBCFG) in St. Petersburg in February. TBCGF Inc. engages the community by hosting the Publix 2023 Tampa Bay Collard Green Festival in partnership with the Dr. Carter G. Woodson African-American Museum. Collard green festivals are on the rise nationwide, however, this one has a unique twist! From fresh produce, plant cultivation, exploring diverse cooking methods, to dietary enlightenment and so much more, TBCGF embodies a communal and holistic focus toward living healthier lifestyles. Also, the streets around the festival were lined with vendors selling their products. The photo shows festival founders Boyzell Hosey and Samantha Harris; and vendor Howard Gunn.
Order your Florida Highwaymen Specialty License Plate Voucher
www.flhsmv.gov Proceeds from the sales of Highwayment specialty license plates will help fund the construction of the Highwaymen Museum and African-American Cultural Center, as well as art education projects in St. Lucie County.
W E A LT H & F I N A N C E Invest Windfalls: Invest any unexpected cash, such as bonuses or tax refunds, and make your money work harder for you. If you find yourself with significant new assets, such as an inheritance, a CFP® professional can help you make the most of your good fortune. Review Your Retirement Plans: The new year may bring changes such as buying a home, updating a will or navigating a higher tax bracket. A CFP® professional can provide a new year review to keep your retirement plans on track no matter where you are in your working life. Plan Your Tax Payments: Consider paying estimated taxes throughout the year to avoid a large tax bill in April. Estimated tax payments can be especially helpful for contract workers or freelancers who don’t have taxes taken out of their pay automatically. Visit LetsMakeAPlan.org for more information about financial planning and how to find a CERTIFIED FINANCIAL PLANNER™ professional near you.
“The new year is a great time to review your strategies for smart spending and saving so you can weather whatever the future has in store.”
IS A DEBT-FREE LIFE POSSIBLE? THERE’S AN APP FOR THAT
WELCOMING WEALTH in 2023
SPENDING AND SAVING STRATEGIES FOR 2023 The past few years have upended many perceptions of financial stability. A layoff or career change, inflation never before seen by younger generations and the lingering uncertainty of the pandemic might have thrown off your financial planning. The new year is a great time to review your strategies for smart spending and saving so you can weather whatever the future has in store. Financial planning professionals suggest that you start by creating a budget. Online trackers such as Mint.com can help you understand your spending. Also, reviewing your expenses with a CERTIFIED FINANCIAL PLANNER™ 54 ONYX MAGAZINE
professional is a great way to get a handle on spending smart today while saving for tomorrow. Try these tips for saving and spending in 2023: Use Credit Responsibly: Pay off credit cards each month, if possible, to avoid accumulating debt and build good credit. Set Up Automatic Savings: You can do this through your bank and via your employer’s payroll. Use the new year to take a fresh look at the savings options through your employer, including Health Savings Accounts (HSAs), which can be carried over from one year to the next.
In margin: Stories by NewsUSA
IT’S NOT TOO LATE IN 2023 TO GET YOUR NEW YEAR’S FINANCIAL PLAN TOGETHER. THESE THREE STORIES SHOW YOU HOW TO HAVE FINANCIAL PEACE.
"To say we were disorganized is putting it mildly." Like so many Americans, they didn't have a plan for their money. The problem is often not how much money a family makes, but that they have no idea what they're spending it on. Seventy-eight percent of fulltime workers say they live paycheck to paycheck, according to a recent report from CareerBuilder. Worse, most feel it will always be that way. But it doesn't have to be. Financial experts agree that the best way to break the vicious cycle of scrambling to make ends meet is by having a written budget and sticking to it. Leslie heard about a website, EveryDollar.com and the EveryDollar budgeting app that makes it simple to create a budget, manage money, and track spending. They signed up, set up their budget, and they've stuck to it for years. "We paid off $165,000 in debt since we got started. Now we're in a position to be completely debt-free, including our house and rental property, in the next three years." The "B" word has gotten a bad rap. Budgeting sounds hard. It sounds restricting. Frankly, it sounds boring. But people who've made budgeting the center of their financial behavior have discovered quite the opposite. The technology behind apps like EveryDollar make budgeting easy. Rather than feeling restricted, they say it feels as if they have permission to spend - just not permission to waste. Sierra was surprised by how much having a budget changed her attitude. She's a single mother whose bills include daycare, rent, and student loans. "I felt so far behind every month, and things seemed hopeless," she says. "Now, I keep track of every dollar, and the numbers are right in front of me. I'm getting ahead instead of falling behind. Every month I feel more confident that I can wipe out the debt that's been so stressful." Sierra and Leslie empowered themselves to take control of their money. You can, too. Creating a budget and sticking to it could change your life and help you take control of your money in the new year. EveryDollar is a free budget app that allows users to create customized
monthly budgets, and seamlessly track expenses, income and savings from the convenience of their computer and phone. It's available for both iOS and Android devices. EveryDollar launched in March 2015 and now has more than three million users. Learn more by visiting www.everydollar.com.
HOW FINANCIAL PLANNERS CAN ADVANCE EQUALITY
Financial planning is about helping individuals and families make sound financial decisions that enable them to achieve their life goals. When financial planners provide these services to diverse clients, they help bridge the gaps between different communities. A growing body of research shows that minority communities in the United States are both increasing in size and building greater wealth. However, studies have also found persistent racial gaps in wealth, financial literacy and access to or use of professional financial advice. The Financial Industry Regulatory Authority (FINRA) has found, for example, that African American and Hispanic individuals tend to score lower on financial literacy tests than Asian American and white test takers. African American and Hispanic adults are also more likely to experience unexpected drops in income, be unbanked or underbanked, and have difficulty making ends meet or saving for future expenses, according to FINRA. CERTIFIED FINANCIAL PLANNER™ professionals play a vital role in helping to close those gaps. CFP® professionals guide clients through building wealth, managing financial challenges and securing their families’ financial futures. Depending on the client, that work could be as simple as helping a family create and stick to a monthly budget, or as complex as developing a diversified investment strategy to save for retirement. In either case, a CFP® professional helps their clients build financial knowledge along with their wealth — both of which can lead to greater equality among diverse communities. Thousands of CFP® professionals around the country also partner with organizations that provide free, quality personal financial advice to individuals who cannot otherwise access financial planning services. The Foundation for Financial Planning, for example, connects volunteer financial planners with individuals and families in need through a variety of programs. These programs provide the many benefits of financial planning to people who might not be able to afford professional financial advice, those who live in an underserved community or those who have other personal challenges. CFP® professionals help to promote financial literacy and awareness of financial planning within their communities, too. Many of them share this knowledge by participating in community events or by leading workshops or other educational programming at community centers. One program offered by Rock the Street, Wall Street has enlisted CFP® professional volunteers to provide financial literacy and investment instruction to high school girls and to encourage them to consider financial services careers. With a career as a CERTIFIED FINANCIAL PLANNER™ professional, you can help improve people’s financial lives and make a real difference in your community. To learn more about what financial planners do and the benefits of a financial planning career, visit CFP.net to download CFP Board’s free “Guide to Careers in Financial Planning.” ONYX MAGAZINE 55