Saturday, June 21, 2025
Home Blog Page 31

Business transactions: 2023 wrapped; 2024 predicted

STAFF
-
0
Business transactions: 2023 wrapped; 2024 predicted

By JAMAR COBB-DENNARD

The 2023 small and mid-size deal space was a whirlwind. Interest rate hikes, capital sourcing transitions, news about buyer cool-downs, and market uncertainty due to bank failures and war made doing deals a bit trickier.

Interest Rates

Yes, money cost almost twice as much to borrow in 2023. Although no one wants to pay higher interest rates, the impact on dealmaking was significant. Increasing rates means that the amount of cash flow that can pay debt in an acquisition decreases. This translates to lower transaction values, lower loan amounts, and higher debt service. The interest rates did not kill deals, but it certainly made them harder to finance and cash flow. The Federal Reserve has signaled an interest rate cut this year, which should accelerate deal velocity and demand.

Bank Failures

Thankfully, there were not widespread bank failures. However, the failure of Silicon Valley Bank increased bank underwriting department’s scrutiny of deals. Closings took longer, buyers and sellers were asked for inordinate amounts of information, and equity contribution and collateral requirements increased. Now that the banking environment has stabilized, hopefully SBA and conventional underwriting processes will, too.

Capital Sourcing

Thankfully, private money was and is flush in the market. Many small investors selected to put their liquid cash in business acquisitions versus the market. Institutional investors have also been eager to put their money to work in going concern businesses.

Buyer Activity

Middle market buyer activity slowed in 2023, but small market deal activity has been off the charts. Buyers know that the supply of businesses on the market is increasing and they are hungry for new deals.

(https://www.bizbuysell.com/insight-report/)

Sale Prices

According to the BizBuySell Insight report, sale prices surged in 2023. Even though there is a lot of supply, and high interest rates, deals are still getting done at higher and higher prices.

Election and War Woes

Uncertainty is not good for financial markets. We may experience buyer reticence in Q3 as we get closer to knowing who the U.S. President will be. Multiple wars around the world have also created uncertainty in the market which could lead to a chilling of buyer activity.

Seller Preparedness

The market will not be able to beat a seller’s preparation to sell their company. If a business owner has groomed a general manager, kept accurate records, documented systems, created recurring revenue service and products, distanced themselves from business development and operations, and maximized margins and cash flow, buyers will be attracted and their business will sell.

The Silver Tsunami

Is the wave of Boomer retirements real? Google says yes:

(https://www.smbuyer.com/email/4-is-the-silver-tsunami-real)

Raw search data indicates that searches for how to sell or buy a business have increased sharply over the last few years. The tsunami is here, and service providers, buyers, and sellers must be ready to take advantage of it.

Jamar Cobb-Dennard is a business broker and M&A attorney. To learn more about how to buy and sell a business, listen to Jamar’s podcast, “What’s it Worth?”

Recorder wins Game Changer Award

STAFF
-
0
Recorder wins Game Changer Award

The Indianapolis Recorder Newspaper was selected as a recipient of the 2024 All-Star Minority Business Opportunity Week “GameChanger” Award by InnoPower. The ceremony took place at COhatch on February 16 in Downtown Indianapolis.

“This award is a testament to your relentless dedication and unwavering commitment to advancing Black businesses in Indianapolis,” according to InnoPower Founder and CEO, Emil Ekiyor, in a statement provided to the Recorder.

“We are honored to receive this award and grateful for the recognition. It motivates us to continue our mission of innovation and excellence. Thank you, InnoPower, JP Morgan & Co., and other sponsors for your support, and we’re committed to maintaining our momentum,” said Robert Shegog, president and CEO of the Recorder, who accepted the honor on behalf of the entire Recorder team.

During the 2024 All-Star Minority Business Opportunity Weekend, InnoPower celebrated the “incredible talent within the Black business community.” Their goal was to inspire other entities and individuals to take steps toward achieving the dreams that will create positive impact throughout the community.

For 129 years, the Recorder has been changing the game and landscape of media. By continuing to share information and tell stories that represent the community, the Recorder has upheld the standard of being a voice for the voiceless for more than a century. 

The Indianapolis Recorder Newspaper was awarded for its “remarkable contributions to the Indianapolis community.”

Unveiling the power of women’s stories: A call to celebrate unsung sheroes

STAFF
-
0
Unveiling the power of women’s stories: A call to celebrate unsung sheroes

By DONEISHA POSEY

In a world where the narratives of women often remain in the shadows, there’s a profound significance in the act of sharing their stories. Each tale holds within it the essence of resilience, perseverance, and the relentless pursuit of equity. As we approach the Women’s Equity Brunch March gathering, themed “Hidden Stories of Resistance,” we are reminded of the transformative power that lies in amplifying the voices of women who have long been overlooked.

Our first brunch of 2024 is not just a mere gathering; it’s a celebration of Unsung Sheroes: Hidden Stories of Women’s Resistance. It’s an invitation to delve into the depths of history and contemporary society to uncover the remarkable contributions of women who have been at the forefront of change. These sheroes, often working behind the scenes, have pushed boundaries, broken barriers, and left an indelible mark on our world.

As we extend this invitation, we recognize the importance of honoring the hidden stories of resistance that have shaped our past and continue to shape our present. Seni Gonzalez, Nasreen Khan, and Tiffany Garner—three extraordinary women in Central Indiana—will be featured at our March brunch. Their stories exemplify the spirit of resilience and courage that defines the unsung sheroes of our time.

Seni Gonzalez Barron is a passionate entrepreneur who’s driven by service to others. Her relentless passion for business has led her to start a variety of businesses, most notably, Paco’s Taqueria. Today, Paco’s proudly employs over 60 employees that Seni cultivates into community leaders, with a vision of scaling nationally. Seni has also reimagined her career, recently co-founding The Halo App.

Nasreen Khan (she/her) is a diasporic creative and scholar who is of mixed Filipino and Afghan heritage. She grew up in Senegal and Indonesia and has recently made a home in Indianapolis. Her teaching and artistic practices, rooted in questions of equity and earth-based spirituality, grapple with questions of belonging; celebrate cultural margins; and confront colonization, racism, and misogyny. In this past year, she was also a member of the Looking Glass Alliance—a group of community voices who worked to diversify the perspectives in the IMA American galleries and mounted her first solo show that focused on maternal scarring. She also serves as the Art Editor for the Indianapolis Review.

Tiffany Garner serves as the CEO and Founder of Certify My Biz Inc., known for teaching the

underserved how to build profits through certifications and government contracting. Over the past decade, Tiffany has dedicated herself to breaking down barriers for underserved small business owners, women, and black & brown communities by everaging her business development expertise to create resources, provide education, and develop accountability communities to deliver impactful support to those in need.

These women, and countless others like them, may not always make headlines or receive accolades, but their impact is undeniable. They embody the spirit of resistance—standing up against injustice, challenging the status quo, and paving the way for a more inclusive and equitable society.

The March Women’s Equity Brunch is a unique opportunity to shine a spotlight on these hidden stories of resistance. It’s a day dedicated to uncovering the often-overlooked contributions of remarkable women throughout history and in our society today. It’s a call to action to acknowledge and honor the unsung sheroes who have shaped our world in profound ways.

We invite you to join us for a day of exploration, inspiration, and celebration. Tickets for the March brunch are on sale now, and we encourage you to reserve your spot to be part of this transformative event. Together, let’s uncover the hidden stories of resistance, amplify the voices of unsung sheroes, and continue the march toward a more just and equitable future.


All-Star Pitch Competition down to finalists

Garrett Simms
-
0
All-Star Pitch Competition down to finalists

The NBA Foundation is down to the finalists in its third Pitch Competition as a part of its All-Star Week celebration and philanthropic contributions to Indianapolis. The pitch competition gives diverse tech entrepreneurs from Indiana the chance to win up to $150,000 in cash prizes.

“We know the pitch competition is a way the NBA Foundation and the Pacers Sports and Entertainment really can leverage the fact that the world’s eyes are going to be focused on Indianapolis because of the All-Star Game. What better platform to highlight the incredible entrepreneurial spirit and talent in the state of Indiana,” said Greg Taylor, executive director of the NBA Foundation.

Taylor said the goal of the NBA Foundation is to provide economic opportunity in various facets: workforce development, access to college, post-secondary training and education. The pitch competition is a perfect example of those goals put into action.

The spotlight of All-Star Weekend is not the first time the NBA Foundation has given back to Indianapolis. In 2022, the NBA Foundation donated to the Center of Leadership Development (CLD).

“I can say first, I think it has tentacles – the NBA Foundation. When they’ve invested in the mission of the Center for Leadership Development, it enables us to further our mission of helping Black youth become professional business and community leaders. But number two, the impact is not just on the young people, but on the young people’s families,” CLD President Dennis Bland said about the foundation.

Bland spoke about the similarities between CLD and the NBA Foundation’s values and goals. Since its creation over 45 years ago, CLD has been rooted in the Black community, not only studying problems, but also providing solutions.

“Well, that’s what I found with the NBA foundation: ‘Hey, we want to make an impact. We want to make a difference. We want to be a game changer. We want to see upward mobility.’ That’s the second common denominator: CLD has always been about upward mobility, ‘Hey, see a young person wherever they are, whatever their circumstance, your mission, your challenge is to view them through the lens of them being a future professional business [person] and community leader wherever they are.”

Through its work with CLD and the Pitch Competition, the NBA Foundation is providing tech entrepreneurs of all ages with a stage to shine.

Katara McCarty is one of the finalists for the competition and the creator and CEO of “Exhale,” a well-being and mediation app for Black, Indigenous and Women of Color.

During the height of COVID-19 in 2020, McCarty was concerned with police brutality and with how the pandemic was disproportionately affecting the Black community. The killings of Ahmaud Arbery, George Floyd and Breonna Taylor by police affected her immensely.

She started thinking about how she could help her community by providing something they need during this time of death and fear. From there, she began Exhale.

“We deserve to have resources that help us manage stress, anxiety and trauma,” McCarty said.

Soon after getting into the competition, she noticed how serious the NBA Foundation is about giving opportunities to Black and brown creators.

“I really feel like they’re holding space for not just our brilliance, but also understanding the ways in which it’s hard to enter into business as a Black and brown founder, as a diverse founder raising funding and getting people to notice what you’re doing. Just feeling like they’re holding space has been amazing,” McCarty said.

Klein Ileleji, co-founder and CEO of JUA Technologies International, is another finalist who said he is impressed with the experience so far. The big spotlight of the competition and all the support the NBA Foundation provides have been welcome surprises.

“They’ve made us feel at home, they want everyone to be successful, and whether I come in first, second or third doesn’t matter, I’ll still be a winner at the end of the day,” Ileleji said.

JUA creates solar-powered food dehydrators for households and small farms. Ileleji created this product to address the problem of food waste.

Ileleji is from Nigeria, and his product and company name are connected to his African roots. The word “JUA” means “sun” in Kiswahili, a language spoken in East Africa. His dehydrators can dry many fruits and vegetables and make them edible and easy to store for long periods.

From the coaching to the actual pitch day, the competition experience has been memorable for Ileleji and McCarty.

They got to pitch for the semi-finals on the Gainbridge Fieldhouse court, where the Pacers play, with the jumbotron showing their pitches as they spoke.

The final competition is Feb. 17 at the Indiana Convention Center and is one of many events during All-Star weekend.

Navigating tax season: A guide to financial wellness

STAFF
-
0
Navigating tax season: A guide to financial wellness

By DEVYNE HARRIS

As the calendar turns and the scent of spring wafts through the air, it’s time to face the annual ritual that sends shivers down the spine of many: tax season. While the mere thought of filing taxes can induce anxiety for some, understanding its significance and having a grasp of key concepts can alleviate stress and pave the way for financial empowerment.

Filing taxes is not just a legal obligation but also a crucial step in contributing to the functioning of our society. Taxes fund essential public services such as education, infrastructure, healthcare, and social welfare programs. When you file your taxes accurately and on time, you ensure that the government has the necessary resources to support these services, benefiting communities and individuals alike.

Moreover, filing taxes can unlock various financial benefits. For instance, if you’re eligible for tax credits or deductions, such as the Earned Income Tax Credit (EITC) or student loan interest deduction, you could receive a refund or reduce your tax liability. Filing taxes also establishes a record of your income, which can be vital for securing loans, applying for financial aid, or even renting an apartment.

Key Things to Know

Understanding the basics of tax filing can empower you to navigate this season with confidence:

  1. Know Your Filing Status: Your filing status—single, married filing jointly, married filing separately, head of household, or qualifying widow(er)—determines your tax rate and eligibility for certain deductions or credits. Choose the status that accurately reflects your marital and household situation.
  2. Gather Necessary Documents: Before diving into tax preparation, ensure you have all relevant documents handy, including W-2s, 1099s, investment statements, and receipts for deductible expenses like charitable donations or medical expenses.
  3. Be Aware of Deadlines: Mark your calendar with the tax filing deadline, typically April 15th, unless it falls on a weekend or holiday. If you need more time, consider filing for an extension, but remember that an extension to file doesn’t extend the deadline for paying any taxes owed.
  4. Explore Deductions and Credits: Familiarize yourself with available deductions and credits that could reduce your tax bill or increase your refund. Common deductions include those for mortgage interest, property taxes, and retirement contributions, while credits like the Child Tax Credit and Child and Dependent Care Credit can provide substantial savings.
  5. Consider Seeking Professional Help: While many individuals can successfully file their taxes independently, complex financial situations may benefit from professional guidance. Tax professionals can help navigate intricate tax laws, maximize deductions, and ensure compliance with regulations.

Full Circle by Divinity

For those seeking comprehensive financial services tailored to their unique needs, consider partnering with Full Circle by Divinity. Founded by a local Black woman entrepreneur, Devyne Harris, Full Circle offers holistic financial solutions ranging from credit repair to tax and accounting services.

With a commitment to financial wellness and empowerment, Full Circle goes beyond traditional accounting firms by providing personalized guidance and support to clients at every step of their financial journey. Whether you’re aiming to improve your credit score, optimize your tax strategy, or achieve long-term financial stability, Full Circle’s team of experts is dedicated to helping you realize your goals.

As tax season approaches, remember that filing taxes isn’t just about crunching numbers—it’s an opportunity to take control of your financial future and contribute to the well-being of your community. By understanding the importance of tax compliance and staying informed about key concepts, you can navigate this season with confidence and pave the way for a brighter financial tomorrow.

Embrace tax season as an opportunity for financial empowerment, and consider partnering with Full Circle by Divinity for comprehensive support tailored to your needs.

Devyne Harris is the founder & CEO of Full Circle by Divinity.

APPLICATIONS FOR The Six Sigma Racial Equity Institute GREEN BELT CERTIFICATION PROGRAM COHORT 4 WILL OPEN ON MONDAY, FEBRUARY 19!

STAFF
-
0
APPLICATIONS FOR The Six Sigma Racial Equity Institute GREEN BELT CERTIFICATION PROGRAM COHORT 4 WILL OPEN ON MONDAY, FEBRUARY 19!

We are excited to announce that the application process for Cohort 4 of the SSREI Green Belt program will officially OPEN on Monday, February 19! Early registration ends with this open registration on Monday. So we invite YOU to apply today. You are receiving this invitation to apply early because you were either on the wait list or you are a key stakeholder.

The Six Sigma Green Belt Certification Program will prepare emerging Black Women and Black Latinas for a deeper understanding of leadership strategies and Six Sigma. As a result of this program, you will have more tools to be more effective in your leadership role. You will also be equipped with a better framework for tackling inequities in the workplace and in our communities.

Be among the first 50 applicants to be prioritized!

Don’t miss out on this chance to take proactive steps toward advancing your skills, your career, and equity. Submit your application today at https://www.sixsigmaindy.org/green-belt-apply.

Join us as we strive towards excellence and innovation together!

Minority Business Highlight: Jayde Ariel The Natural Hair Guru

CHLOE McGOWAN
-
0
Minority Business Highlight: Jayde Ariel The Natural Hair Guru

Jayde Fincher, also known as the Natural Hair Guru, is an Indy-based vegan hair stylist and designer.

Born and raised around hair stylists and fashion designers in Fort Wayne, Indiana, Fincher has been a part of Indianapolis’ fashion and beauty industry for several years. Her work and designs have been featured in New York Fashion Week, Indy Black Expo and Meet the Artists.

Jayde Fincher, also known as the Natural Hair Guru, is an Indy-based vegan hair stylist and designer. (Photo provided/Jayde Fincher)

“For me, being in the beauty industry, I just found that there was a lack of hair stylists that really cared about our hair, African American hair, ethnic hair, healthy hair,” Fincher said. “Seeing all of that and seeing how we just really didn’t know how to take care of our hair, it made me want to pursue doing hair.”

In the fall of 2023, Fincher opened her own boutique in Carmel where she offers natural and curly services and styling using exclusively vegan-based products to “ensure the hair is healthy and beautiful.” Fincher’s specialty services include a vegan silk press, color and extensions.

Fincher is also the founder of Vegan Hair Fest Indy, which first took place in 2023. The festival is the first of its kind in Indiana, highlighting Black and minority owned vegan businesses around the city while uplifting the importance of vegan and natural hair care.

Jayde Ariel, the Natural Hair Guru’s salon boutique is located at 2508 E. 146th St., Carmel, IN. For more information on services or to book an appointment, visit jaydearielnaturalhairguru.com. To get in contact, call 765-631-2444 or email arielj1018@yahoo.com. 

This minority business highlight was composed by CHLOE McGOWAN at the Indianapolis Recorder, who can be reached at 317-762-7848 or via email at chloegm@indyrecorder.com. If you would like your business highlighted in the Indianapolis Minority Business Magazine, click here!

Minority Business Highlight: Saving Our Children’s Lives, Stop Gun and Domestic Violence Inc. 

Garrett Simms
-
0
Minority Business Highlight: Saving Our Children’s Lives, Stop Gun and Domestic Violence Inc. 

Regina Jones is the creator and CEO of Saving Our Children’s Lives, Stop Gun and Domestic Violence Inc., a company she started over 17 years ago. Jones’ organization started because she wanted to provide any and everything women dealing with domestic violence need to get themselves to safety and stay there. 

Jones said she noticed there were no organizations in Indianapolis that were fighting for women dealing with this abuse, and because of her own experiences, she knew she had to be a voice and place of solace for these women. 

Whenever a woman dealing with domestic violence comes to her, she provides mental and physical care to them and their families. If the women are living with their abusers, she puts up money for them to stay elsewhere. If the women just need an ear to speak to and a shoulder to cry on, she provides that, and she continues to work with the women no matter what. Jones said the ongoing process of helping these women leave for good is often difficult, but she knows her work is essential.  

Her company is 501 C3 certified, which allows it to act as an official nonprofit and receive donations to support women who are victims of domestic violence. Jones also hosts events where she has speakers talk about their experiences and provide hope and guidance. At the events, she also sells goods, and the proceeds from her sales go directly to the nonprofit. 

“My goal is to get a shelter for these women and children. I want to be able to give them resources for jobs and to go back to school. After they do all that, I want to have an event, a graduation, where they can walk, and I want somebody to do their hair and makeup and let them feel pretty again,” Jones said, “I just want to know that my work is not in vain. That’s all I want.” 

To donate or contact Jones about getting involved, email her @Reginajones981@yahoo.com. She is also hosting a domestic violence event on Saturday, April 27.  

This minority business highlight was composed by Garrett Simms at the Indianapolis Recorder, who can be reached at 317-762-7847 or via email at garretts@indyrecorder.com. If you would like your business highlighted in the Indianapolis Minority Business Magazine, click here!” 

Minority Business Highlight: The Sincere Chef

CHLOE McGOWAN
-
0
Minority Business Highlight: The Sincere Chef

Created by Temicka “Chef Tweet” Moore, The Sincere Chef is a catering and events service providing fresh and healthy, homestyle catering, meal prep and food delivery.

Originally from Fort Wayne, Indiana, Moore is the CEO and executive chef of Sincere Catering, Sincerely Yours Events, Sincere Fresh, Sincere Learning Schools and Sincere Lyfe Consulting.

Moore’s passion for cooking stemmed from both southern and northern culinary styles she learned from her grandmothers. This love of cooking led her to launch her first food delivery business while studying at Indiana University. 

Sincere Catering and meal prep services feature a large variety of options to choose from, including small plate, soups, salads and breads, in addition to pasta and pairing dishes. Specific dishes for weekly meal prep for both small groups and groups more than 50 can be selected and ordered on the website. 

The Sincerely Yours event center, which is located on the Eastside of Indianapolis, includes two rentable suites with an in house 360 booth, IPAD Booth and Uneak Magic Mirror. 

The Sincere Chef is located at 6024 East 21st St. for more information about the business, catering and meal prep menus and how to order, visit thesincerechef.com. To get in contact, call 317.922.8790 or email catering@thesincerechef.com.

This minority business highlight was composed by CHLOE McGOWAN at the Indianapolis Recorder, who can be reached at 317-762-7848 or via email at chloegm@indyrecorder.com. If you would like your business highlighted in the Indianapolis Minority Business Magazine, click here!

Mojo Up Marketing + Media Awarded Vendor of the Month for February 2024

STAFF
-
0
Mojo Up Marketing + Media Awarded Vendor of the Month for February 2024

INDIANAPOLIS – On Thursday, February 1, 2024, Mojo Up Marketing + Media, a certified Minority Business Enterprise (MBE) with the City of Indianapolis, was awarded the Certified Vendor of the Month for February 2024 by Office of Minority and Women Business Development (OMWBD) Director David Fredricks.

“With Mojo Up’s diverse and talented team, they are bridging the gaps created by a lack of diversity in the marketing industry and empowering other businesses to cultivate an environment of diversity and inclusion,” says Director Fredricks.

Founded in 2019 by Travis Brown, Mojo Up is the largest Black-owned marketing agency in Indiana and offers a wide range of marketing services, including brand activation and refresh campaigns. Travis Brown has dedicated his career to building, inspiring, and motivating diverse teams and has established a unique culture of diverse and talented individuals. Under his guidance, the agency has created strategic and creative campaigns for major companies such as McDonald’s, Eli Lilly, AES Indiana, and Southwest Airlines. Travis is an author of four books and has created marketing courses for global brands, hosted brand boot camps, and developed an anti-bullying curriculum for schools around the country.

“We are honored to be recognized as the Certified Vendor of the Month,” said Travis Brown. “Our diverse and talented team is dedicated to providing excellent service to our clients and being a positive force in the community. This recognition is a reflection of our commitment to excellence and our belief that diverse perspectives and experiences are essential to success in business.”

Mojo Up Marketing + Media has been an unwavering contributor, helping numerous nonprofits and associations communicate their mission. The Salvation Army, Firefly Children & Family Alliance, New Hope, and C.A.R.E Autism Therapy are just a few of the organizations that Mojo Up has assisted. The company’s recognition as Certified Vendor of the Month is a testament to its commitment to fostering diversity, equity, and inclusion in the workplace and its contributions to the community.

OMWBD’s Vendor of the Month initiative highlights certified minority, women, veteran, and disabled- owned business enterprises (XBEs) to showcase businesses making a positive difference in their communities, acknowledge the achievements of diverse-owned companies, and to increase their market visibility. In 2024, the OMWBD team is expanding the initiative beyond downtown Indianapolis, highlighting the many exceptional vendors listed in the OMWBD XBE Directory across the county.

1...303132...101Page 31 of 101

© Copyright 2023 Indiana Minority Business Magazine

Contact us: newsroom@indyrecorder.com

Website Created By: KI NuMedia

Translate »
Skip to content