Folasade Ayegbusi, the Founder of Suncrest Financial Services LLC has committed herself to economic and financial inclusion of African Americans. She does this by providing them with financial and business consulting services that empower them to build and sustain profitable businesses. Her business mission is to help her clients build generational wealth through their businesses.
Entrepreneurship is the Key to Building Wealth
According to BlackBusiness.com, Folasade strongly believes that entrepreneurship and building sustainable businesses is the key to building generational black wealth. Her life goal is to contribute to building generational black wealth through teaching her clients what she knows about business and accounting. The strategies she teaches help her clients better understand their financial statements and how that data impacts the growth of their businesses.
Black Businesses Need Money to Create Jobs
Although there are a growing number of black-owned businesses many of them do not have employees. According to a 2019 Report by Guidant Financial, the top six challenges for African-American business owners includes:
- Lack of Capital/Cash Flow
- Marketing and Advertising
- Time Management
- Recruiting & Retention of Employees
- Administrative Work (e.g. bookkeeping and payroll,etc)
- Managing and Providing Benefits
Folasade sees this as a serious problem and feels that it means black-owned businesses are not strong enough to build generational wealth. She believes we have to do more than start businesses to build generational wealth, we also have to create jobs. This is why she helped small businesses save $25 million in one year. Those funds can be reinvested in the businesses to overcome the top challenges for African-American business owners and for continued development and job creation.
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Find Out How Folasade and Her Team Can Help You
With several locations in Maryland (Largo and Baltimore) and an online presence, it’s easy to connect with Folasade. You can visit her websites here– www.AccountingWithFolasade.com or www.SuncrestFinancials.com and follow her on Instagram @FolasadetheAccountant to learn more about how she can meet your small business accounting needs.