News Summary
At the ESSENCE Festival of Culture in New Orleans, Carrita Tanner-Cloud and Iam Tucker discussed essential strategies for scaling Black-owned businesses. Highlighting the importance of accessing capital and government resources, they emphasized networking, technology integration, and utilizing underused programs like the State Small Business Credit Initiative. They shared valuable insights from their entrepreneurial journeys, reinforcing the unique challenges faced by minority business owners and the critical role of perseverance and self-belief in achieving success.
New Orleans, Louisiana – At the annual ESSENCE Festival of Culture, innovative entrepreneurs Carrita Tanner-Cloud and Iam Tucker shared insights on how to successfully scale Black-owned businesses. The discussion, which included representatives from Louisiana Economic Development (LED), focused on the necessity for small business owners to access capital and leverage government resources effectively.
Stephanie Hartman and Shamela Pete from LED highlighted that many resources available to entrepreneurs remain underutilized, and they aim to connect business owners like Tanner-Cloud and Tucker with these valuable programs. Hartman emphasized the importance of knowing and using these resources to propel business growth.
Among the programs offered by LED are the State Small Business Credit Initiative (SSBCI), which provides microlending options particularly designed for startups, as well as various credit enhancement options. The Collateral Support Program is aimed at businesses struggling to present sufficient collateral for loans. Furthermore, the Small Business Low-In-Guarantee Program offers a government guarantee that improves the likelihood of securing loan approvals.
Iam Tucker, who is the president of Integrated Logistical Support, Inc. and a second-generation business owner, discussed the benefits of participating in LED’s CEO roundtables. These roundtables offer networking opportunities and facilitate discussions on business strategies with other executives facing similar challenges in the industry.
On the other hand, Carrita Tanner-Cloud, founder of the advertising and graphic design agency Creativity Justified, emphasized her own journey of starting the business while pregnant. Cloud now manages major clients, including the NFL and Microsoft, showcasing a successful evolution in her entrepreneurial path. She also pointed out that many resources offered by agencies like the FDA do not always require funding but necessitate a commitment of time and effort to navigate effectively.
Both Tanner-Cloud and Tucker emphasized the importance of networking and creating relationships as crucial elements for achieving business success. They recognized the unique challenges faced by minority business owners and stressed the significance of serving others to foster relationships and open new business opportunities.
In addition to networking, the entrepreneurs urged fellow business owners to incorporate technology into their practices—a necessity in today’s tech-centric environment. Valuable lessons shared included the need for perseverance amidst obstacles and the importance of self-belief as key driving factors for entrepreneurs striving for success.
The Louisiana Small Business Development Center (LSBDC) was also highlighted during the festival as a supportive resource, offering confidential, no-cost consulting for entrepreneurs at any stage. The LSBDC, located in Chambers Hall at LSUA, provides assistance with various business needs, including business planning, LLC filing, and funding opportunities. With a statewide network of 10 centers, they serve all parishes of Louisiana, making their services widely accessible.
To further support small businesses, the Louisiana Technology Transfer Office (LTTO) has initiated the “SBIR/STTR Advantage Series.” This series aims to assist small businesses in navigating federal funding opportunities. Starting with an in-person workshop focused on preparing proposals for NIH submissions, the series will include other sessions conducted virtually.
The SBIR and STTR programs offer non-dilutive R&D funding for small businesses and present phased opportunities for both feasibility and commercialization. The overarching goal of this workshop series is to enhance access to federal funding for innovation and to support economic growth within the state of Louisiana, positioning entrepreneurs for greater success in their ventures.
Deeper Dive: News & Info About This Topic
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- NOLA: Service Corps of Retired Executives
- Biz New Orleans: Louisiana Innovation Funding Series
- Google Search: Louisiana small business funding
Author: STAFF HERE NEWORLEANS WRITER
NEW ORLEANS STAFF WRITER The NEW ORLEANS STAFF WRITER represents the experienced team at HERENewOrleans.com, your go-to source for actionable local news and information in New Orleans, Orleans Parish, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as French Quarter Festival, New Orleans Jazz & Heritage Festival, and Essence Music Festival. Our coverage extends to key organizations like the New Orleans Chamber of Commerce and Greater New Orleans, Inc., plus leading businesses in energy, healthcare, and education that power the local economy such as Entergy, Ochsner Health, and Tulane University. As part of the broader HERE network, including HEREShreveport.com, we provide comprehensive, credible insights into Louisiana's dynamic landscape.
