If you have already taken the first step to start your own business, then you may be wondering how you can steadily grow your POC-owned business. Fortunately, there are many options available to you that can help your business to take off. Keep reading to learn some helpful advice.
Become Certified as a Minority-Owned Business
One of the lesser-known ways that you can work to grow your POC-owned business is by becoming certified as a minority-owned business, or MBE. Becoming certified may give you access to different resources, grants, loans, networking events, and partnerships. In addition to becoming certified, many social media platforms allow you to tag yourself as a minority-owned business, which allows those who want to support or do business with these types of businesses to more readily find you.
Make Your Experience and Knowledge Work for You
A key way to boost your POC-owned business is to make your unique experience and knowledge work for you. As a person of color, you have expertise that people outside of your culture or race may not necessarily have. For example, those with darker skin need to care for their skin differently than those with lighter skin tones. As a POC, you may understand this, which can help you to connect to your customer base. Let it be known what your experience and expertise are.
Work on Community Engagement and Outreach
Regardless of whether you own a POC-owned business or not, community engagement and outreach are vital to the overall success of your company. Let people know your business exists. Participate in local street fairs, county carnivals, or community outreach programs, and volunteer and give back to your community. All of this helps with engagement and can help your business grow.
According to Better Accounting, 14.6% of small businesses are owned by people of color. This includes approximately 2.3 million Latin owners, 1.9 million Black owners, and 1.6 million Asian owners. While there are fewer small businesses owned by people of color, things are starting to shift, and people of color are able to boost their corporations. If you’re looking to help your business grow, then we would love to help. Call us now to learn more and to help your business thrive.