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This Black History Month, SCORE, the nation's largest network of volunteer, expert business mentors, launched SCORE for Black Entrepreneurs. This program addresses the unique needs of Black entrepreneurs and provides our nation's Black-owned small businesses with the resources and support they need to thrive during the COVID-19 pandemic and beyond.

SCORE Celebrates Efforts and Impact of 10,000 Volunteer Mentors

In a research study conducted last month by the SCORE association, 48 percent of business owners said they were not profitable in 2020 (compared to 25 percent the year before); 68 percent had to reduce employee hours/pay or furlough or permanently lay off workers.

Completing your PPP loan application can be a heavy lift, especially for businesses that have a few dozen employees. Lean on your accountant or bookkeeper, if you have one, to pull the reports needed to apply. You can also contact your local Small Business Development Center or SCORE, a nonprofit that coaches business owners.

Cash is the lifeblood of a business. According to Hal Shelton, angel investor, SCORE mentor, and author of the best-selling The Secrets to Writing a Successful Business Plan, one of the primary reasons companies go out of business is “cash flow mismanagement.”

SCORE, a nonprofit organization that calls itself "the nation's largest network of volunteer business experts," is one of the best resources for small businesses, with more than 10,000 volunteers and 300 chapters to help business owners with counseling, business tools, and training.

For some, starting a business later in life is a matter of financial necessity. According to a 2018 survey published by SCORE, a mentor network for small businesses, women 65 and older are more likely to do so because they’ve lost a job or need more income. More than 28% of those surveyed said they became entrepreneurs because they had to.

Small businesses that improve accessibility for people with differing abilities also improve employee retention and morale and expand their business market, according to statistics gathered by SCORE, mentors to America's small businesses. Most employers report no or low cost for accommodating employees with disabilities, and 24% reported that accessibility accommodations increased profitability.

Understand the differences between coaching, mentoring, and managing to best achieve your goals.

Wig Architect Tamika S. knows exactly what women want in a wig and is here to deliver! Tamika gives special thanks to SCORE. She is the Founder of Allure Wigs Inc: a luxury, bespoke line of human hair wigs and services. Bearing beauty and brains, Tamika has a Bachelor’s of Science in Visual Analytics.

At every stage of small business ownership, and particularly during this challenging time, resilience and support are the keys to success.

SCORE plans to launch a Black Business Owners Hub in February to provide more specialized resources for Black entrepreneurs. The effort will be similar to the Hispanic Business Owners Hub SCORE rolled out recently.