Mastercard Exec On Black Female Founders and Digitization and AutomationRamon Ray
Black female founders get some of the least funding for their business. Ginger Siegel, who heads Mastercard’s small business in North America wants to change that. Her passion is authentic.
Grants and Investments
This “do something about it” includes Mastercard’s investment with Fearless Fund to specifically help Black female founders.
Mastercard is also working to provide mentorship and grants, through the Fearless Strivers grant program – which includes 20, $10,000 grants. Mentorship is important. Money is good, but often it’s knowledge and expertise that are needed so much more.
Ginger shared that Covid exposed the weaknesses of many smaller companies. So many were not properly digitalized when Covid hit and the global government lock-downs took place.
One of Mastercards flagship programs is “Digital Doors” a platform connecting business owners with first-class partners that Mastercard has curated. These partners include Big Commerce, Facebook partners, Intuit and Salesforce.
There are several key pillars of support that every small business should have.
This includes marketing and through digital doors, Mastercard has CRM offerings.
Security is often ignored or not given a priority and Mastercard wants to elevate awareness of the constant need to be more secure.
Hackers are NOT just going after big companies, but smaller companies as well.
Digital Doors provides a gateway to several security solutions, resources and assessments.
Ginger is hopefully about the future of small business growth. In the companies she speaks to, many are also hopeful, but the reality of the marketplace still exists.
We’re seeing signs of recession, the war in Ukraine, supply chain issues and global challenges are abundant.
However, those companies who can manage their cash flow, have savings and are as digitized as possible have a great chance of not just surviving but thriving.
Digitize and Automate
It’s important, said Ginger, that companies focus on digitizing their business and also automating their business.
The efficiencies you get from leveraging technology are powerful.
In addition, a multi-channel approach to accessing and serving your customers is important.
Don’t just rely on Instagram. Maybe you need to do paper mailings via the US Postal Service!