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Tips for turning your hobby into a career

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So, if you’re committed to making your pastime a professional endeavour and prepared for all that entails, you might be wondering where to get started. Of course, there are various ways you could go about it, and the below is just one such method:

Start with a business plan

One of the best places to start if you’re trying to convert your hobby into a career is to come up with a solid business plan for your idea. READ MORE AT THE NEWS INTERNATIONAL

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White men now make up the minority of business owners in the United States, a shift driven by fast growth in women- and LatinX-owned businesses, and one that has profound implications for the country’s finance and innovation infrastructure.

LatinX owned businesses have been growing at a rate of two- to-four times the rate of the overall population since 2015, when Porras’s organization began surveying them. He estimates that there are 1 million net new LatinX-owned businesses created every five years. READ MORE AT FORBES

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Despite being the fastest-growing segment of the U.S. small business ecosystem, Latinos continue to struggle to secure capital from national banks.

That’s according to the State of Latino Entrepreneurship 2020 research study from the Stanford Latino Entrepreneurship Initiative.

Stanford’s report found that only 20 percent of Latino-owned businesses that applied for national bank loans over $100,000 obtained funding, compared to 50 percent of white-owned businesses. When looking at loans of all sizes, the percentages change, but not the gap: among Latinos, 51 percent received loans versus 77 percent for whites. READ MORE AT CBS NEWS

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