economic growth strategies

Microbusinesses in economic growth strategies

Posted on by Kathleen

A Detroit-based plumbing business named Benkari was launched by Adrienne Bennet in 2008, who was the first black female licensed master plumbing contractor. She knew that she needed to invest in the new estimating tool to bid on the large projects, but she failed to manage the financing. This is one of the common problems for microbusinesses that cannot find financing.

She did not get her financial support from the traditional lender; in fact, the business was secured credit from the nonprofit community development finance institution, which the grant capital had sourced from the philanthropies. With this funding, she secured one of the most significant contracts in the company’s history. As a result, she grew her business over time, and now she generates 2 million USD per year.

It was Benkari’s story on how intentional strategies can uplift the microbusiness in underserved communities can benefit local economies as well. But remember, this will take time since a microbusiness requires strategic planning, income-generating resources, and much more.

Let’s discuss how micro-business can be included in the economic growth rate.

  1. Understand the Microbusiness that supports growth

While Benkari wanted to increase her construction and plumbing services, she faced limited access. And she has lacking access to private capital support and bank support.

– Little to no investment or social network-based investment

– Not able to access public dollars; for instance, small business administration loans

– Higher insurance costs

– Public safety concerns plus underinvested infrastructure

– Do not have enough professional network

– Work challenges

The community economic developers need to create strategies so that they engage with the micro business or some intentional work. Then, once you understand the whole process and its future output, it would be easier for the person to maintain the business.

The small business challenge of NEI’s was the only way for micro-businesses to support in the metro area of Detroit.

However, practical assistance providers offer financing plus cash flow advice, legal, accounting, and accessible micro-and small loans, often in the nonprofit sector.

  1. Build and boost a support network to help micro-businesses grow

– Practical assistance that provides expertise around legal issues, marketing, accounting, real estate, plus other business areas.

– Access to affordable capital via microfinance plus community development financial institutions.

– Mentoring or expert coaching from the people who understand the microbusiness opportunities and challenges.

The investor community should understand and consider these things to support the essential.

And these things are the best delivered via the network of business support organization that small business actually needs. The business support organization also includes some key factors.

– To support underserved small businesses, a shared mission.

– To increase the business support, a shared value around inclusive practices.

– In order to make or receive referrals, actively working hours.

– Regular meetings to share ideas and so on.

Moreover, the business support organization played a vital role with the NEI through –

– Practical technical assistance

– Capacity-building grants and resources

– Incentives to operate as a cohort

– Events and convenings

– Trust and connections

– Information sharing

– Marketing and storytelling

– Access to nonfinancial resources

  1. Elevate the conversation around microbusiness support

As a community investor developer, you need to know a few question-answer to develop the strategies:

– What the business owner has to do when they wanted to grow.

– Whether the small business owner able to generate sufficient revenue for its workers?

– If the pools of resources support small businesses to have a better understanding of the Main Street Microbusiness?

A person needs to figure out the elevate of small businesses as well as the conversation about them. Allocating resources with some data-drive work is an excellent perfection to understand better plight to put more micro enterprises on the trajectory of growth that moves from micro to small business and much more.

 

Owning a Home

Costs of Owning a Home – Hidden Thing to Know

Posted on by Kathleen

So, you have decided to build a new home but don’t know what it will cost? Well, no worries! We are here to help you. Having a new home is always an exciting thing. And when you have a clear idea about the costs, it will be easier for you to transform your house into a comfy zone forever.

Owning a home has many seen and unseen costs that many people do not know about. Here we have discussed a few hidden costs that you must need to know before making your decision.

What Are The Hidden Costs of Owning a Home?

  1. Property Taxes
  2. The HVAC System
  3. Condo and HOA Fees
  4. Home Insurance
  5. Plumbing System
  6. Electrical System
  7. The Roof
  8. Mold

 

  1. Property Taxes

You will need to pay taxes every year as a homeowner, which is a must, and you cannot deny this. The bank does not determine the property taxes you have to pay; instead, the township would fix the tax payment for you. They would value it according to your residence, which could be 500 or 1000 dollars a year.

Remember, the home tax varies depending on the area you are living in, plus your asset as well.

  1. The HVAC System

Another hidden cost of owning a home is the ventilation, heating, and air conditioning system of the house, which is shortly HVAC system. Probably, you may need to purchase new units at some point of entering the home because the existing ones could wear out over time. And when you replace old furniture with a new one, you can use it effectively for years to come.

However, ensure you inspect the HVAC system of your house once a year at least. There are many companies that offer contract plans for this maintenance system; you can take help from them.

  1. Condo and HOA Fees

You are more likely to pay a monthly or quarterly fee when you buy your home from the condominium or homeowner’s association (HOA). Usually, this charge covers up the services that benefit your entire neighborhood, for instance, the snow plowing or garbage collection.

Keep in mind that the HOA fee could rise over time, or the association may need to charge a special assessment.

  1. Home Insurance

Home insurance is not a hidden cost; when you issue a loan from a bank or mortgage company, premiums are most likely included in the mortgage payment. But keep in mind that the premium you have to pay is likely from your escrow account. And annually, the premium rises according to the value of your property.

But unfortunately, sometimes, you may have to purchase extra coverage against any disaster or flood, or earthquake that the insurance company does not cover.

  1. Plumbing System

The plumbing cost is another hidden cost that occasionally happens no matter which area you live in. And the interesting part is that plumbing cost is not a big deal to fix when you have basic plumbing knowledge.

Plumbing costs include the water line system of your house, the gas line, etc. If you find a clogged pipe or the gas line is not working, you may need to contact the plumber.

  1. Electrical System

Every homeowner should have a basic idea about the electrical system of the house to keep the home safe from any wanted accident. If you find any systematic problem, you should call a trained electrician to ensure the things are installed correctly.

  1. The Roof

Most of the time, people ignore the maintenance of the roof, which should not be denied. That’s because a leaky roof can cause the inside damage of your house, which could be severe. Generally, roof damage occurs when the fascia becomes loose, soffits, cracked, etc. Remember, a roof needs to be replaced every 15-20 years.

  1. Mold

Generally, mold creates damping areas or humidity that can cause health problems. And mold can spread throughout your home every time if the HVAC system is contaminated. And mold can cause asthma, allergy, or other serious health issues. So, maintaining this thing is another hidden cost of owning a home.

Other hidden costs include maintenance and home repairs, lawn care, termites, utilities, and so on.

Economy Plumbing Services

Choosing the Best Cheap Plumbing Services

Posted on by Kathleen

The plumbing system is the most important part of any building. Life would be impossible without water; hence any flaws in the plumbing system would be catastrophic. When we have water overflow, leakage, or a break in the water supply, we need to contact a reputable commercial plumbing company.

Plumbing problems can also because a halt to any work being done or transactions being conducted in a certain location. Because of this, it is essential to obtain the right plumbing solutions.

If you have an issue with your business plumbing services, you need to look for commercial plumbing companies. They have the necessary training, expertise, and permit to carry out the task at hand.

 

How to Find Cheap Plumbing Services

 

·         Consult Others

One of the most dependable means of advertising is still word of mouth. Because no one can provide you with better suggestions than a happy client, the first step in finding affordable plumbing services is to ask around.

Find phrases like “cheap” and “reliable” in your search. Both of these qualities are desirable in a plumber. You should hire an economical plumber for small plumbing issues because they charge a fair fee from https://teamemergencyplumber.com/24-hour-plumber-near-me/. You may have an expensive plumber if you think some plumbing problems are too trivial to pay for.

 

·         Take a look at Google

Google records and ranks all of the glowing testimonials provided by happy consumers on company sites. Because of this, you’ll be able to get reputable and affordable plumbing services right away.

Because of the high level of competition in this field, you may still have a wide range of choices. Next, you’ll learn to use internet reviews to limit your alternatives to just two or three.

 

·         Consider Credentials and Licenses

A firm with many positive ratings is fantastic, but you also want to go with a fully licensed and insured one.

There should at the very least be general liability insurance for a plumbing service. If something goes wrong while they’re working on your property, you’ll be covered by this.

Make certain you are familiar with the licensing requirements in your state. For those who want to work in the field, a plumbing license or Master Plumber License is required in Michigan, for example.

With these licenses, you can ensure that the plumbers you’re working with are fully qualified to handle your plumbing issues. You should deal with a firm that invests in continual training to keep its professionals up-to-date with the most current goods and practices.

 

·         Match Their Capabilities to Your Needs

Many distinct plumbing firms may specialize in a particular aspect of the profession, such as commercial or residential plumbing, while others may provide all types of plumbing services.

Plumbers who specialize in domestic work may lack the resources and expertise to take on commercial projects of a similar scale.

While the most skilled and knowledgeable plumbers may be able to provide both types of services, you may check their websites or give them a call to see whether they have the equipment and expertise to handle your particular issue.

Some plumbers also deal with HVAC concerns, while others specialize in cutting-edge high-tech, environmentally friendly solutions.

 

·         Review Sources

Reviews are the most important ingredient when measuring customer engagement metrics—an easy-to-understand system. Customers who leave negative reviews are likely to do so again, whereas customers who leave positive reviews are more likely to return and do business with you again.

Your goal is to hire the plumber with the most positive customer reviews. You’re not ranking them according to the number of 5 stars each has received, but rather on the quality of those reviews.

 

·         Warranties

Plumbing in both business and residential buildings should come with a standard guarantee. Most service and maintenance workers have a job guarantee that should be formalized before starting work.

It is also important that professional plumbers utilize high-quality plumbing components and supplies backed by industry guarantees. Inquire what the warranty covers and ensure that the items utilized have a manufacturer’s guarantee.

It shouldn’t be difficult to find an industrial plumber specializing in your particular work type. Companies that promise honesty, sincerity, and dignity are plenty. To determine if a company can handle large projects, emergencies at any time, and the necessary licenses, create a checklist.

Stay-at-Home

What Do “Stay-at-Home” Orders Mean for Families in Risky Housing?

Posted on by Kathleen

Stay-at-home or analogous orders have been issued in several cities and states, and many private firms have advised non-essential staff to work from home to prevent the spread of COVID-19.   Policymakers are still discussing a nationwide stay-at-home mandate. Still, the repercussions of these mandates are already being felt by those forced to remain at home because of them.

Additionally, this epidemic draws attention to the predicament of families in vulnerable living arrangements. When a family or person is homeless, there is no place for them to stay at home, as colleagues at the Urban Institute have pointed out.

The current rental eviction moratorium and mortgage forbearance restrictions will expire, and checks will cease under the Coronavirus Aid, Relief, and Economic Security Act. Families that live in inadequate housing are particularly vulnerable to stay-at-home orders, notwithstanding the general high condition of most American houses.

 

What Exactly is a Stay-at-Home Order??

Stay-at-home orders, which limit the conditions in which individuals can leave their homes, were initially implemented in California and New York, two of the most affected states by the coronavirus pandemic.

All non-essential employees are required to stay at home under a stay-at-home order. People are only allowed to leave their homes to get necessities like food and medicine or go for a single walk in the park.

Businesses can only remain open as long as they are deemed necessary. Customers will no longer be able to dine in at eateries. Since the government has shut down, many duties must be completed from home if at all possible. Hundreds of thousands of Americans have lost their employment.

 

What Is The Purpose of a Stay-at-Home Order?

 

According to Aline Holmes, a clinical associate professor, and director of the Clinical Systems Project at Rutgers University School of Nursing, it’s the goal of a stay-at-home order.

According to Holmes, “If we let everyone go about their business as usual, practically everyone will come into touch with the virus.” As many as 80% of people would become unwell, and 20% hospitalized.

According to Holmes, her home state of New Jersey has 8.9 million people. New Jersey’s healthcare system would be overburdened if 80 percent of the population became ill and 20 percent of those required hospitalization.

It’s possible, according to Holmes, to spread out the number of instances over a longer period and so better manage staffing and resource allocation.

 

Substandard Housing Dangers

The long-term neglect or general degradation of institutional and private property owners contributes to substandard housing.

As of the most recent national census in 2017, about 1.35 million families were living in seriously substandard housing. This covers any home with major issues with heating, plumbing, electrical systems, or basic upkeep, such as no electricity or hot and cold running water.

In addition, another 4.65 million people lived in moderately insufficient apartments or those with difficulties such as incomplete cooking facilities or recurrent toilet breaks. Combined, they make up around 5.2% of all U.S. households, based on the American Housing Survey.

Every neighborhood in the United States is affected by homes in poor physical condition, but particular households are disproportionately affected. More than 9% of all tenants with modest incomes are confined to substandard living conditions.

8.6 percent of American Indian and Alaska Native families and 7.2 percent of African American households are living in substandard housing, according to the U.S. Department of Housing and Urban Development.

 

Many Disaster-Damaged Properties Remain Unrepaired

However, there is a specific problem with physical housing that can be solved in most cases. Newly acquired, disaster-damaged properties are supplementing existing poor housing.

Hundreds of thousands of houses have been devastated by multibillion-dollar disasters in the last several years, many of which have yet to be rebuilt or restored.

After Hurricane Maria struck Puerto Rico in 2017, the Federal Emergency Management Agency reported that 255,633 housing units were destroyed (PDF), yet two years later, 30,000 dwellings remained without roofs.

Ninety-four thousand seven hundred ninety-two homeowners and 38,085 renters in Texas had unmet financial demands following Hurricane Harvey in 2017 (PDF).

More than 18 inches of standing water were in more than 80,000 dwellings alone. For many years afterward, properties that received inadequate help and upkeep remained in decay. Low-income African American and Hispanic households have been most affected by this.

lack indoor plumbing

Almost Half a Million US Houses Lack Indoor Plumbing

Posted on by Kathleen

According to a new study by The Guardian, there are over half a million homes in the United States that do not have adequate Plumbing.

A new study by the Plumbing Poverty Project (PPP), a collaboration between the University of Arizona and King’s College London, found that even in the most affluent cities in the country, renters and people of color are more likely to live in a home without running water or flushing toilets. The findings were released on Monday.

According to The Guardian, approximately 15,000 families in San Francisco do not have a functioning plumbing system. According to the publication, San Francisco is home to the third-highest number of billionaires globally.

 

Common Plumbing Problems

The most prevalent plumbing problems are a clogged toilet, leaking faucets, low water pressure, and a running toilet. We’ll go over a different approach in the following sections depending on the problem.

Only when a problem arises can you understand how important Plumbing is to your daily life. Even as your horse becomes older, you’re bound to encounter some plumbing issues. Fortunately, many of these problems can be handled by the do-it-yourself crowd.

On the other hand, others pose a greater risk and should be left to the experts. Knowing the most common plumbing issues and how to fix them can help you choose when to go for your tool belt and call a professional plumber.

 

Clogged Drains and Toilets

It’s easy to tell whether your drain is clogged by the amount of water that backs up while emptying a sink or shower. There are usually more obvious indications of a clogged toilet than a sink drain.

The water accumulates in the bowl and may even overflow if the flush fails. Drains and toilets can be returned to normal after clearing a clog with DIY work or a plumber’s visit.

 

Faucets and Pikes That Leak

 

Plumbing leaks are a typical occurrence in both apartments and single-family homes. Fixing leaks in your house may save you up to 10% on your water bill. Dripping faucets are more a nuisance and a waste of money than a plumbing disaster.

The annual water consumption of a faucet dripping at a drip rate of one drop per second is similar to taking 180 showers. Over 1 trillion gallons of water are lost each year due to plumbing leaks in the United States.

Faucets that drip water when turned off are simple to identify since they drip water. Even if you’re not in the room, you can generally hear the dripping.

 

How Plumbing Has Helped Public Health and Sanitation

It’s time to take a look at some of humanity’s greatest achievements. In addition to the printing press, air transport, telephones, and computers, another technology has saved millions of lives: modern Plumbing. People can’t live in cities free of illnesses such as dysentery, cholera, and typhoid fever without modern Plumbing.

 

Oregon Trail Infections

In the computer game Oregon Trail, diseases like dysentery, cholera, and typhoid fever are too familiar. The three illnesses listed above can be contracted by consuming water that has been polluted with disease-causing feces.

Unfortunately, these illnesses aren’t extinct. These illnesses are still a problem in underdeveloped nations today. People in industrialized countries like the United States and Europe are secure from illnesses like dysentery, cholera, and typhoid fever because of the Oregon Trail.

 

How Is Water Contaminated?

Let’s imagine you live in a town where the water comes from a deep well. A big pit is used in your neighborhood to dispose of bathroom waste.

You’re well water will be tainted if the pit’s wastewater seeps into the groundwater around your well.  They will be exposed to pathogens in the trash dump if they drink the water. T

his can be caused by sewage seepage from latrines or individuals flushing their waste directly into the water source, such as by defecating or urinating in the lake or river.

Modern plumbing systems keep illness at bay by conveying human waste to treatment facilities and separating it from clean drinking water.

 

New Plumbing

To keep germs from spreading, ensure the toilets and sinks are always in good functioning order. As a result of modern Plumbing, humans are no longer in close touch with human waste; instead, it is flushed away.

This greatly decreases the risk of contact when using chamber pots or buckets to dispose of waste. People may wash their hands right away after using the restroom, thanks to the convenience of running water. Washadvocates.org claims that soapy hands can lower the occurrence of childhood illnesses by about 45 percent.