Entrepreneurial Development & Assistance Center
  • Home
  • RIDE
    • Program
    • The Breakthrough Podcast Audio
    • The Breakthrough Podcast Video
    • RIDE University
    • Returning Citizens Magazine
    • RIDE Impact Event
  • LaunchPad
  • WOMEN
    • W.O.M.E.N. Veteran Entrepreneurship >
      • W.O.M.E.N. Veteran Entrepreneurs Podcast
      • Micro Loan Application
      • W.O.M.E.N. Webinars
    • Baltimore Metropolitan Women's Business Center >
      • Beyond the Elements
  • Podcast
    • The Entrepreneur's Hub
    • Black Fathers as Entrepreneurs
    • The Entrepreneur's Game Plan
  • Blog
  • Calendar
  • Resources
  • CONTACT US
    • Contact Us

Debt collectors can now pursue you on social media about your outstanding debts

12/2/2021

0 Comments

 
New regulations at the Consumer Financial Protection Bureau that were established under Trump make it A-OK for collectors to DM you about money owed.
Picture
Starting this week, if you decide to friend or follow someone on social media you don’t recognize, they might surprise you with a debt collection notice in the app’s tiny font. That’s because for the first time, federal regulators have given debt collectors the ability to legally contact debtors via email, texts, and their social-media messages.

The new regulations went into effect Tuesday. In theory, they’re to “modernize” the decades-old rules under which debt collectors must operate when pursuing debtors. The Fair Debt Collection Practices Act was passed back in 1977 to stop abusive debt-collection practices, before there was internet or Facebook. These changes that just rolled out were introduced over a year ago by the Trump administration, whose Consumer Financial Protection Bureau took a friendlier stance toward the business community. In her first major speech in 2019 as head of the CFPB, director Kathleen Kraninger said it was very important to her to “modernize the legal regime for debt collection.” After the changes happened, she released a statement that announced: “We are finally leaving 1977 behind and developing a debt collection system that works for consumers and industry in the modern world.”
​
To reassure consumers it hasn’t created a shark-feeding-frenzy situation, the CFPB posted an online explainer titled “Understand how the CFPB’s Debt Collection Rule impacts you.” But consumer groups fear that by arming debt collectors with these additional avenues for debt collection, Americans will be exposed to millions of threatening or harassing emails, texts, and social-media messages they wouldn’t have received otherwise.

​Read more....







0 Comments

If You Think the Great Resignation Is Bad, Just Wait Until January

12/2/2021

0 Comments

 
With year-end increases and bonuses in hand, will your employees head out the door?​
Picture
​Year-end can come with holiday presents, parties, and year-end bonuses. It's also quite normal to do annual pay increases effective at the first of the new year.
These things are all good, but it may impact what the Great Resignation looks like at your office. 

If year-end bonuses and raises are the norms in your company, your employees may hold off accepting that new job until the money is in their pockets. While companies shouldn't base new hires' salaries on their previous salaries, many do, and employees can use it as a negotiating tool. After all, why would they leave a job for less money than they make now? And who wants to quit three weeks before bonuses hit the bank account.
This isn't to tell you not to give people raises and bonuses--you'll undoubtedly lose your best employees if you do that. This is to tell you to prepare and plan. Here's what you need to think about.

Look at actual market rates for raises, not just general cost of living Inflation is a huge problem--it's affecting everything, including salaries. You can't ignore the reality staring at you in salary surveys. Yes, it's more work to have your human resources department look at what it would cost to replace someone than it is just to allot a small percentage to everyone. Still, if you don't do it, you'll not only lose more employees, you'll also end up paying the higher rate for their replacements.

Remember, when you look at salaries, you're not looking at competitors but at companies that use the same types of employees. Your warehouse employees can easily move to a package delivery service or a grocery store. Every business needs IT and accountants. It's worth the work to figure out what new salaries should be.
​
Consider long-term incentives Yes, people want their year-end bonuses, and heaven knows everyone has been through enough these past two years and could use the bonus. But if there isn't a reason to stay long term, people will be more likely to leave right after they get the bonus.

Make sure you have compensation that takes time to vest (stocks or 401(k) matches, for instance). If you make that valuable enough, you can increase your employee loyalty and help keep people around longer term. Read more...
BY SUZANNE LUCAS, FREELANCE WRITER@REALEVILHRLADY
0 Comments

6 lessons on change from Who Moved My Cheese

12/1/2021

0 Comments

 
​Dr Spencer Johnson tells us a story about 4 characters who live in a maze and learn to deal with unexpected change. This is a business classic although the lessons it teaches are not limited to just managers and employees.
Read more..... I found this to be a great resource for Team building-Yvette
As a consumer; I found this to be a great resource during at our company retreat.
0 Comments

UPDATE: SBA Community Navigator Pilot Program Grant Awardees

12/1/2021

0 Comments

 
Picture
On October 28, 2021 SBA Administrator Casillas Guzman announced grantees for the Biden-Harris Administration’s Community Navigator Pilot Program, an American Rescue Plan initiative designed to reduce barriers that all small businesses, including those owned by disadvantaged groups such as veterans, women, and those from rural communities and communities of color, often face in accessing critical support. The Community Navigator Pilot Program will provide $100 million in funding to 51 organizations that will work with local groups to connect America’s entrepreneurs to SBA resources so they can recover and thrive. IVMF was the only Veteran Serving Organization selected but Veterans can receive services from any Grant Awardee.

Click to View List of SBA Community Navigator Awardees


0 Comments

    Author

    The mission of EDAC is to connect budding & existing entrepreneurs to resources for venture management & growth.

    Archives

    February 2023
    January 2023
    October 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    April 2021
    March 2021
    February 2021
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    February 2019
    January 2019
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    February 2018
    October 2016
    August 2016
    February 2016
    January 2016
    March 2015
    February 2015
    January 2015
    November 2013
    February 2013
    January 2013

    Categories

    All
    Alumni
    ASCEND
    Award
    Carver High School
    Constant Contact
    Customer Plan
    EDAC
    Email Marketing
    Email Marketing Bootcamp
    Entrepreneurs Go To School
    Entrepreneurship
    Gig Economy
    Grant
    High School Students
    Investment Portfolio
    Jocelyn Turner-Musa
    Millennials
    Morgan Organization
    Morgan State University
    Morgna State U
    Overlea High School
    Scholars
    Startup
    SunTrust Foundation
    Youth Entrepreneurship

    RSS Feed

Proudly powered by Weebly
  • Home
  • RIDE
    • Program
    • The Breakthrough Podcast Audio
    • The Breakthrough Podcast Video
    • RIDE University
    • Returning Citizens Magazine
    • RIDE Impact Event
  • LaunchPad
  • WOMEN
    • W.O.M.E.N. Veteran Entrepreneurship >
      • W.O.M.E.N. Veteran Entrepreneurs Podcast
      • Micro Loan Application
      • W.O.M.E.N. Webinars
    • Baltimore Metropolitan Women's Business Center >
      • Beyond the Elements
  • Podcast
    • The Entrepreneur's Hub
    • Black Fathers as Entrepreneurs
    • The Entrepreneur's Game Plan
  • Blog
  • Calendar
  • Resources
  • CONTACT US
    • Contact Us