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Urbangeekz Partners With Finance Savvy CEO to Provide 5 Scholarships Support Women-Owned and Minority Businesses

The Black Enterprise
The Black Enterprise Editors
Jan. 11, 2022

UrbanGeekz has teamed up with Finance Savvy CEO in a new partnership to support women and minority-owned startups.

The Atlanta-based firms are collaborating to boost the financial health of this growing demographic. It comes as research increasingly shows that founders who benefit the most from business financial literacy skills are also the same groups that face the biggest barriers.

In this brand-new alliance, UrbanGeekz will provide five full-ride scholarships to the Finance Savvy CEO™ 2022 winter cohort of Your Profit Playbook™. The hands-on program helps underserved founders build the financial roadmap for their business and provides them with a sustainable future for their ventures.

“I’m thrilled to be partnering with Finance Savvy CEO,” said Kunbi Tinuoye, founder and chief executive officer of digital news platform UrbanGeekz.

“At the end of the day, the difference between a hobby and a business is cash flow. Every startup founder and savvy entrepreneur should be focusing on financial profitability to build a sustainable business.”

“I’m so excited by this collaboration,” said Marguerite Pressley Davis, founder and chief executive officer of Finance Savvy CEO.

“Once again it shows UrbanGeekz’s commitment to making an impact in the community.”

“From 2007 to 2020, women-owned businesses grew an impressive 58%,” said Davis.

“During the same period, the number of firms owned by Black women grew 164%. That’s nearly three times the growth rate for women-owned businesses. Despite starting businesses at a high rate, only a startling 7% of black women are running ‘mature businesses’.”

“Some of the biggest obstacles to success are confidence and practical know-how regarding the financial side of business,” said Davis, a former Wall Street analyst and financial strategist.

“The top reason that businesses fail is financial issues and cash mismanagement. In fact, 60% of operating small businesses are not profitable.”

Your Profit Playbook™ is a six-week business financial plan creation and implementation program that guides founders on how to create realistic financial plans and projections for their business. It also teaches them business strategies to increase revenue, optimize expenses, and maximize profits.

At the end of six weeks, business owners create a comprehensive financial plan, financial goals, realistic key performance indicators, and strategies to assist with profit maximization.

To date, Your Profit Playbook™ had directly created a $9.9 million in economic impact. The pilot group launched in 2018 and are still in business three years later. Typically, 20% of businesses fail within the first two years, 45% will fail within the first five years, and 65% will fail in the first 10 years.

Your Profit Playbook™ alum reported an average increase in profitability of 42% in just 12 months. Upon program completion 96% of business owners identified as “financially competent” or “financially confident” and 98% of business owners identified as “more confident in their CEO abilities.”

Finance Savvy CEO’s goal is to help 24,000 underserved businesses owners by 2024 to improve their business financial literacy and financial health, increase their profitability, build generational wealth, and increase their projected business longevity.

Join UrbanGeekz and founder and CEO Kunbi Tinuoye in taking a pledge to make this happen

Scholarship applications are now open and will close on Jan. 20. All scholarship recipients will be announced by Jan. 25. The Your Profit Playbook™ 2022 program winter session begins on Jan. 31Apply here.

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