Minority Entrepreneurs in RI | 3 Reasons to Turn Your Dream Into a Reality

2018 is proving to be quite the year for minority entrepreneurs, and those of us in Rhode Island have plenty of help waiting for us. With so many local small business resources and so many reasons to start, this may be the right time to turn your dream into a reality.

— By Jess E.

It’s one thing to have an idea or a dream.  It’s another thing to make it a reality. Often times, it’s simply getting started that turns out to be the biggest hurdle standing between an individual and their future business.

However, 2018 is definitely a great year to finally get started.  So why not turn that idea (or that side hustle) into an official business?  You may have reasons that cause you to hesitate.  Life can get in the way.  However, there are also too many reasons why now is the time to start, especially for minority entrepreneurs.  Let me share with you just a few.

REASON #1: You can do it.

Believing in yourself and in your goals can be reason enough (if you allow it) to take that first step today to pursue your dreams.

This first reason has not yet been backed up by data, but it is one in which I truly believe. This is something that inspires me everyday to plan for a grand future for myself, even when others don’t believe it to be possible.

Think about it: Someone has to be the first to do every amazing against-the-odds accomplishment that happens in this world.  Why not you?  Don’t let anyone doubt you – not even you.

REASON #2: The trends are on our side.

Things are for sure on the up-and-up for minority entrepreneurs.  It appears that 2018 has so far been a big year for Black Entrepreneurs according to a recent national report. Black female entrepreneurs specifically continue to be the fastest growing group of entrepreneurs in the country.

In addition, as the Latino population continues to grow in the U.S, so does the number of Latino entrepreneurs, according to a 2018 report by Stanford University.  And the trends are looking even better for young immigrant millennials – a population that exists in great numbers in the cities of Providence County.   According to this report, it is the drive and work ethic that exists within this specific population that contributes to their current success.

REASON #3: Rhode Island has the resources you need.

The state of Rhode Island offers many free programs, classes, and services that were created to help small business entrepreneurs – whether you have been in business for generations, or just started yesterday.  The following are just a few of these resources.

  • RI SMALL BUSINESS DEVELOPMENT CENTER  The Rhode Island Small Business Development Center (RISBDC) at the URI provides local small business owners the resources that are necessary to succeed.  This includes no-cost counseling, relevant resources, and and access to various training opportunities.  Their experts are ready to support businesses at every stage.
  • RI SCORE  This organization is comprised of retired businessmen and businesswoman who provide free mentoring, low-cost workshops, and free resources.
  • CENTER FOR WOMEN & ENTERPRISE (PROVIDENCE OFFICE) The Center for Women and Enterprise is a New England-based organization founded in Boston that is dedicated to supporting aspiring female entrepreneurs, as well as those already in business looking to further develop their professional skills. They provide education, training, and technical assistance. Some training sessions are free of charge.  The RI office is located in Providence.

 

For additional assistance, I have compiled a more comprehensive list of resources available to current and aspiring entrepreneurs in our state. Visit my Small Business page.


There are countless additional reasons why you should start working on your business today.  This includes being your own boss, having a flexible work schedule, and creating a work environment that meets your needs.

With all these resources, and with so many young entrepreneurs of color already doing big things in Rhode Island, I can’t wait to see what the future holds for us.  Only time will tell, but if we continue to believe in ourselves and support each other, I have a strong feeling that Father Time will tell quite a beautiful story.

-JE


 

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US & OUR CULTURE

A blog that celebrates the diversity and the impact of today’s young professionals

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“If you want to go fast, go alone.  If you want to go far, go together.”
– African Proverb 

 

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