Business and Finance
New York Life Panel Offers Black Businesses Growth Tips

Much like baseball, great business triumphs are calculated by analyzing player and team data. These statistics will help entrepreneurs take motion to raised compete, quickly adapt to changing business conditions, and even potentially drive sustained revenue growth.
New York Life (NYL), which has been operating since 1902 and has a presence in Birmingham, Alabama, recently conducted the “Swing for Success: Driving Growth for Black Business Owners & Entrepreneurs” project there. The panel, which included 150 local small business owners and others, provided financial tools and methods to assist entrepreneurs scale their businesses, accumulate wealth and construct their very own economic prosperity.
The panel included Leilani Rivers, Advanced Planning Consultant, NYL; Nan Baldwin of the Birmingham Business Alliance; and Danielle Hines, CEO and founding father of CREED 63. Moderator was Stacey Graham, managing partner of the Alabama, New York General Office Central Office. The event included a fireplace chat with former MLB player and business owner Dexter Fowler.
The nation’s largest mutual insurer, NYL is home to about 30,000 policyholders in Birmingham and nearly 85,000 in Alabama. In 2023, the corporate provided $12 billion in life insurance coverage and paid out about $124 million to Alabama beneficiaries.
The insurer has about 1,500 black agents offering life insurance, retirement income planning and financial advisory services.
Presented through the week of June 11 as a part of a timely tribute to Negro Leagues Baseball, the panel was presented with startling statistics regarding Black entrepreneurshipFor example, there have been 2.6 million black-owned businesses in America. About 8 out of 10 failed inside the first 18 months resulting from lack of resources and funding.
According to report of town of Birmingham, Black residents make up 74% of town’s population, but only 50% of companies are Black-owned. By comparison, white residents make up 22% of the population, but 47% of companies are white-owned.
Panelists discussed what helps them achieve, offering insights that Black entrepreneurs should consider as they seek to ascertain or sustain their success. Some key takeaways included:
YOU ARE ONLY AS GOOD AS YOUR TEAM
Graham noted that in 2021, 161,000 U.S. firms had a predominantly Black or African American workforce, up from 124,000. In 2017, he says, their revenues grew by about 43% during that point. “Many of you in the audience contributed to this.” Hines was asked to share her experiences running a small business and the important thing lessons she’s learned over time.
Among her answers is that she at all times tells those that if your small business is ideal firstly, it means you are starting too late. Secondly, he says it’s essential to have a team around you that understands once you’re starting out, what you are good at and what your weaknesses are.
She noticed that she was missing certain things as a small business owner that were very difficult for her to beat as she grew and expanded her business. “So really understanding your strengths and identifying your weaknesses so that as you grow, you can be a truly well-rounded small business and small business owner.”
Rivers added that as an employer it’s essential to put money into your team. He says that is crucial to retaining good talent. “So you want to make sure that you’re also giving them the tools to be successful and continue to impact their potential goals and that you’re investing in their success.”
PLANNING YOUR OWN FINANCES IS NECESSARY FOR BUSINESS OWNERS
Rivers explained that employees can often get a job, routinely enroll in a 401(k) and have an employer match. But as a small business owner, you don’t have that luxury. She emphasized that the earlier an owner starts saving for retirement, the higher off they’ll be. “It’s imperative that you’re proactive and don’t sacrifice a comfortable retirement lifestyle. You just want to get down to work and try to live your dream with this business. You can do both, and the financial empowerment starts as soon as you educate yourself about it and start taking proactive steps.”
WHERE YOU CAN GET ADVICE FROM TRULY MATTERS
The panelists discussed the $1.8 trillion spending power of the black community. However, a staggering 13% of African Americans will receive an inheritance. They also discussed the importance of transferring wealth, a hot topic. Rivers explained that life insurance as an asset — together with financial planning, having a will and education — will help pass on a financial legacy and shut the wealth gap. If a salesman approaches you, Graham advises difficult them. “You don’t need a product; you need a plan. Ask, ‘How does this fit into my overall plan?’” “That way, you can take the overall advice and planning, use it to your advantage and get where you want to go.”
THE IMPORTANCE OF BUILDING A NETWORK
As your small business grows, Baldwin suggests promoting your name and brand to provide help to succeed. But be sure that that whatever you say you’ll do, whatever service you provide or need you meet, do it because your repute will precede it. “I can’t say enough about building a brand through networking and building relationships.”
CREED 63 owner Hines shared his thoughts on the panel discussion.
“Birmingham is a hidden gem with so much history. Events like this encourage and revitalize the city, especially those entrepreneurs and small businesses who spend day in and day out creating spaces, services and products.”
She added, “We’re decades removed from so many significant milestones and events, and our small business owners know and appreciate the shoulders we stand on. Events like this facilitate purposeful conversations about history, the present, and the future.”
Check out this page for more details on business planning resources.
Business and Finance
The survey shows the growing demand for financial knowledge in schools

According to the latest Endowment for Financial Education (NEFE) national survey, the strong majority of US adults imagine that financial education needs to be a must -have a part of the highschool curriculum.
Eighty -three percent of respondents claim that their state should require a semester or a 12 months -round course focused on personal funds as a requirement to graduate. The same percentage of people that attended highschool claims that they would really like them to have to participate in such a course once they were students.
The data collected by Nefe in cooperation with Surveyus reflect the consistent results of an identical survey conducted three years ago. This is more state legislators weighing or accepting policy to finance the personal basic part of highschool graduation requirements.
“This latter survey strengthens long -lasting Support for financial educationWith 4 out of 5 adults in the USA, he agrees along with his meaning, “said Dr. Billy Hensley, president and director of Nefe.” These moods are a testimony of countries that have committed to the requirements and implementation of financial educational programs, thus strengthening today’s students know many adults who would like them to receive at school. “
The survey also revealed a generation gap in access; Only 44% of respondents aged 18–34 stated that their school lacked personal financial classes, in comparison with 77% of individuals aged 65 and older.
Hensley applauded the growing number of nations that introduced the fines of financial education K – 12, calling the movement “a step towards justice and economic strengthening.”
This pursuit of financial skills is especially critical in black communities, where economic differences meet through historical and systemic exclusion from the possibility of constructing generational wealth. According to the Brookings Institution in 2023, in 2022 for every $ 100 in wealth owned by white householdsBlack households had only USD 15, emphasizing the durable and expanding difference in racial wealth.
In addition, while African -Americans usually tend to proceed education in the desire to mobility up, additionally they bear the disproportionate share of student debt, often without financial tools to administer it.
According to the report, experts say that early, normalized access to private financial education in high schools, especially in underestimated communities, generally is a powerful tool that may help reduce these gaps. Supporters call on legislators to the priority of fair implementation, ensuring that students from all environments are equipped with credit management skills, savings and planning of long -term financial health.
(Tagstranslate) Schools (T) K-12 Education (T) Financial literature
Business and Finance
Lool Deng increases the net value with a successful property

Former Chicago Bulls player, Lool Deng, couldn’t win any NBA championships or had no max contracts during his profession. However, its net value is greater than a few NBA players who’ve global recognition and still play in the league.
According to the man who was Born in South Sudan It has a personal net value of over $ 200 million, exceeding Stephen Curry ($ 180 million), Dwyane Wade ($ 170 million) and James Harden ($ 165 million). Deng has never had the pleasure to get a style of contracts that the athletes concluded during their profession, but his ventures, other than the pitch in real estate, put over them.
During his NBA profession, while playing for Bulls, Cleveland Cavaliers, Miami Heat, Los Angeles Lakers and Minnesota Timberwolves, his total earnings amounted to $ 166 million in a few years from 2004 to 2019.
Most of the money he earned comes from his real estate company, D3N9, which he began in 2014, ending his profession in the game. He received suggestions in the field from the real estate entrepreneur Don Peebs and former banker Wall Street David Gross, who’s the investment director of his company. Under the umbrella of his company, his portfolio includes hotels, resorts, apartments and residential buildings. Real estate is distributed in Africa, England and the United States and have a total value of $ 125 million.
In the United States D3N9 has multi -family units in Baltimore, houses in Hamptons, Virgin Hotels Las Vegas and a luxurious resort in the Bahamas. His business and bravado led him to earn more cash except sport than lots of his peers who earn most of their income.
After growing up in Brixton, South London, he played his collegial profession at the Duke University before he was elected in the first round of NBA Draft by Phoenix Suns with the seventh selection in 2004. He created the ALL-Star team twice during his profession and was a member of the second NBA team in 2012.
When he retired in 2019, he had 13,361 points, 5,468 rebounds and a couple of,042 assists.
(Tagstranslate) lool deng
Business and Finance
Live Nation plans to improve the Atlanta Center with an investment $ 5 billion

Live Nation Entertainment invests in its portfolio of real estate, committing to a plan value $ 5 billion to update the center of Atlanta about the district of the stadium.
The live entertainment company plans to rent a spot for 5,300 places at the Centenary Shipyard in Atlanta. Currently developed next to State Farm Arena and the Mercedes-Benz stadium, a mixed megaproject costs $ 5 billion.
According to Live Nation Will cooperate with sports teams and real estate programmers on the undertaking. The owner of Atlanta Hawks, Tony Ressler, whose team is playing at the arena, and his brother Richard Resssler, the owner of a CIM programming company, have already began introducing the project to realization.
“The fact that Live Nation decided to be in the center of Atlanta is a great matter,” said the co-founder and director of CIM, Shaul Kuba. “We are creating a completely new market in Atlanta, which did not really exist before.”
It focuses on stadiums as a central element. However, the inclusion of Live Nation will ensure readiness and skill to bring artists from the list A in the center of Atlanta. His concert place will turn into one in every of the largest live internal theaters.
While the project guarantees to help the city of a fighting in the city center, economists don’t seem to sell in the neighborhood model at the stadium. Opposes experts say that projects use taxpayers’ funds to reverse expenditure from the community to the latest stadium.
Reflection of the city itself, the center of Atlanta (*5*)it stays variedAccording to black people, they constitute 48% of his population, according to. However, his financial and residential slowdown, escalated during a pandemic, makes him a brand new trial place for stadium districts.
Until now, the centenary has made slow progress due to approval, permits and partnerships of city officials. In the case of only $ 1.3 billion in his budget, he has 162 apartments, brewery and pavements established in the area.
However, for the World Championships in 2026, a team of programmers hopes to complete a 304-unique apartment complex, together with hotels, restaurants and retail trade. In addition, he hopes to construct an addictive bar from cinema-sports, which might fit 1,500 participants.
In addition to investing in the creation of space in the center of Atlanta, Live Nation also plans to add 20 more places to its portfolio until 2026. He hopes to play an vital role in the developing entertainment industry and real estate in sport.
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