Small Business Story: Jasmine’s Couture Struggles Without a Risk Manager

The CoverWallet Small Business Scholarship encourages entrepreneurship in students by asking them to take on the perspective of a local small business owner. Students share their perspective on the opportunities and challenges faced by a business in their community.

Student: Jasmine Hester, Mid Plains Community College, Business Administration

Small Business: Jasmine’s Couture

Jasmine's Couture

I have always had a strong love for fashion. Even as a young girl. I just love piecing outfits together, putting different colors and fabrics together to create a signature look. I’m all about making a statement and having an outfit that is the perfect attention grabber!

CoverWallet Announces Partnership with Starr Companies and Industry Legend Hank Greenberg

CoverWallet is excited to announce that we’ve partnered with Starr Companies to develop new online insurance products for small businesses.

As a leading international insurance company, Starr will be combining its industry expertise with CoverWallet’s cutting-edge technological solutions in order to reach a broader market.

Launched in early 2016, CoverWallet combines data, design, and technology to simplify the complexities of commercial insurance. We’re reinventing the way business owners understand, buy, and manage policies through our concierge-like service and digital platform.

“We are very excited to have Starr and the legendary Hank Greenberg join us in our mission to simplify the end to end experience of business insurance,” said Inaki Berenguer, CEO of CoverWallet. “To reinvent such a large industry, CoverWallet aims to work with individuals and companies that are leaders at what they do. We could not pass up the opportunity to add Starr to the list of existing insurance partners.”

Small Business Story: Luzerne Lumber Company Thrives by Avoiding Injuries and Lawsuits

The CoverWallet Small Business Scholarship encourages entrepreneurship in students by asking them to take on the perspective of a local small business owner. Students share their perspective on the opportunities and challenges faced by a business in their community.

Student: Sarah Knappman, Penn State University, Eberly College of Science

Small Business: Luzerne Lumber Company

Small Business: Luzerne Lumber Company

Is it impartial to say that my favorite small business is one that pays me? Saving up for college expenses that will come after this summer, I have spent most of my summer at the same place my mom has worked for twenty-five years, Luzerne Lumber Company. There, I post and reconcile checks, do the deposits, stock Ace orders, create POs, file, organize, work on the redesigned website— whatever task is asked of me on a given day. And during my many tasks in the store, I continue to learn about the many aspects that go into a small business.

Small Business Story: Fresh Market Coffee Faces Intense Local Competition

The CoverWallet Small Business Scholarship encourages entrepreneurship in students by asking them to take on the perspective of a local small business owner. Students share their perspective on the opportunities and challenges faced by a business in their community.

Student: Brooke Rennie, Navarro College

Small Business: Fresh Market Coffee

Small Business: Fresh Market Coffee

As a student, I am constantly trying to discover new places to inspire a thorough study session. It is so hard to keep myself motivated when staring at the same four walls for hours. Fortunately for me, I have discovered a little hidden gem inside one of our local produce markets. It’s named is Fresh Market Coffee (or FMC as I call it to my friends when we are messaging about meeting there!) and besides offering the most amazing organic grocery items and fresh flowers, it also boasts tucked away inside, a small coffee and bakery shop.

How Small Businesses Can Become More Bankable & Evaluate Funding Options

Q&A with Bryan Doxford of EGF

In today’s Small Business Q&A, CoverWallet spoke with Bryan Doxford, Senior Vice President and Program Manager of Community Lending at Excelsior Growth Fund (EGF), an affiliate of New York Business Development Corporation (NYBDC), to discuss key steps small businesses can take to become more bankable.

There are lots of alternative financing options that small business owners can access if they know they don’t qualify for a bank loan or if they get denied from one. However, these options usually come from non-profit organizations that have limited capital to spend on marketing and get their name out there. Although reaching these organizations is often necessary to get the first round of capital, Doxford shared with us some tips on what small business owners can do to make their business more likely to qualify for a bank loan – which is the last step in the “continuum of capital” ladder that EGF helps businesses climb.

Small Business Story: The Scratch Sandwich Company’s Potential for Greatness

The CoverWallet Small Business Scholarship encourages entrepreneurship in students by asking them to take on the perspective of a local small business owner. Students share their perspective on the opportunities and challenges faced by a business in their community.

Student: Nicole Cabral, New England College of Business and Finance

Small Business: Scratch Sandwich Company

Scratch Sandwich Company

Not too long ago there was a small pastry shop here in Laredo, Texas that closed down. The owners ran the shop on their own and due to their age, they could no longer care for it. Their children went on to different things and ultimately they closed the shop down after years of service. It’s unfortunate that years of hard work simply ended overnight. What if there was a “no worries” package that would take the load off the owner? Then the small pastry shop would have never closed.

Advice for Accessing Capital as an Underserved Minority Entrepreneur

Q&A with Alex Guerrero, CDO of VEDC

Access to capital is just one of the many problems that women and minority entrepreneurs from underserved communities face when they are trying to start a business. According to a study conducted by the Minority Business Development Agency, minority-owned businesses are less likely to receive loans than non-minority-owned firms and, when they do receive loans, the dollar value tends to be lower while interest rates are higher. However, minority entrepreneurs often also lack access to mentors, advisors, and the right networks.

We spoke with Alex Guerrero, Chief Development Officer of Valley Economic Development Center (VEDC), about the challenges that entrepreneurs from underserved communities face and the resources that VEDC provides to help them succeed in their business endeavors. Guerrero explains that his goal is to help entrepreneurs accomplish their dreams and to create quality jobs at the same time. His parents were immigrants who came to America and were able to buy a house and raise six children even though they worked minimum wage jobs, which he says is something we’re never going to see again unless we do something “drastic.” 

Small Business Story: Spiritual Journey’s Challenges in Driving Business

The CoverWallet Small Business Scholarship encourages entrepreneurship in students by asking them to take on the perspective of a local small business owner. Students share their perspective on the opportunities and challenges faced by a business in their community.

Student: Megan Levenberg, Palm Beach State College, Boca Raton Campus

Small Business: Spiritual Journey

Spiritual Journey

In Coral Springs, Florida there is a tiny little store tucked away on the outskirts of town. This store is a true hidden gem and I absolutely adore every moment I spend there. This store is called “Spiritual Journey”. Spiritual Journey is a metaphysical supply store, but it is also so much more than that. The two ladies that run the place, Carole and Barbara, are some of the sweetest, most kind-hearted women I have ever known. Their mission statement is as follows:

“Spiritual Journey is dedicated to teach with compassion and integrity for all who want to connect with a higher power. We work by developing workshops for all individuals who are willing to seek the answers that lie within oneself.”

Small Business Guide to Accounting Software

Small Business Accounting Software

There are a number of accounting software packages on the market that can make the process for small businesses less of a headache. But selecting the right one for your business can seem tricky with so many options to choose from.

This short guide to accounting software for small businesses will give you an overview of what to look out for, looking at the benefits of using accounting software, general factors to consider, plus specific features for different types of business. It will conclude with a short list of companies to check out that offer accounting software.

Small Business Story: Mystical Treasures Emporium’s Large Impact with a Small Team

The CoverWallet Small Business Scholarship encourages entrepreneurship in students by asking them to take on the perspective of a local small business owner. Students share their perspective on the opportunities and challenges faced by a business in their community.

Student: Breanna Flintroy, Thomas Goode Jones School of Law at Faulkner University

Small Business: Mystical Treasures Emporium

Mystical Treasures Small Business Owner

In Montgomery, Alabama there is a local store called Mystical Treasures Emporium. It is a store that caters to different religions. If you practice candle magic, it has the candles that you need. If you like to meditate with crystals, it features many crystals in different shapes and sizes. If you are a spiritual reader, you can buy tarot and oracle cards. The store also carries Holy Water, books on various religions, tapestries, jewelry, teas, etc. I like this store because the owner has the calmest spirit and shows no favoritism. He does not care if you gay, straight, male, female, black, or white he shows everyone respect. Mystical Treasures Emporium is my favorite religious store that faces the challenge of being ran by one person.