Entrepreneurship News & Analysis
5 articles
Market Mood
Vivien Wong Leaves £80,000 Job to Start Little Moons Ice Cream
Vivien Wong, at age 28, left her £80,000 a year accounting position to co-found Little Moons, a mochi ice cream brand, with her brother Howard. This decision followed her father's cancer diagnosis, which inspired her to pursue her dream of entrepreneurship. Initially, the business involved selling to restaurants and cinemas before expanding into supermarkets after five years of saving and reinvesting profits. For investors, Wong's journey highlights the potential of innovative food brands to capture market interest, especially through platforms like TikTok.
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Beauty Pie Founder Marcia Kilgore Shares 5 Business Secrets
Marcia Kilgore, founder of Beauty Pie, has built five beauty brands, including Bliss and FitFlop. She emphasizes the importance of practical experience and industry knowledge in her entrepreneurial journey, having moved to New York to support herself while studying. Kilgore advises aspiring entrepreneurs to challenge their ideas and ensure they can explain their value succinctly. This approach to business is crucial for navigating uncertainties in the market, which can resonate with potential investors looking for insights from successful entrepreneurs like Kilgore.
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Johnson Products Company Founder George E. Johnson Dies at 99
George E. Johnson, founder of Johnson Products Company, passed away at age 99 from natural causes, according to reports. The company, established in 1954, achieved nearly 80% market share in Black hair care by 1960 and was the first Black-owned company listed on the American Stock Exchange in 1971. Johnson started with a $250 loan and grew his business alongside the Black Pride and Black Power movements. His death marks the loss of a significant figure in the hair care market, which remains influential today, especially for Black consumers.
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Older Workers' Startups Show Success Rate Nearly Double at 50
Research indicates that individuals starting businesses at age 50 have nearly double the success rate compared to those starting in their 30s. This information highlights a trend where older workers, facing ageism, opt to establish their own ventures. Such a shift may influence the startup landscape by showcasing the viability of entrepreneurship among older populations. This could potentially impact markets by driving investment towards businesses founded by older entrepreneurs, who tend to have more experience and a proven track record.
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Traci Quinn's Pink Hats Construction: Success After Prison Release
Traci Quinn, after serving three years in prison for cannabis trafficking, founded Pink Hats, an all-female construction company in Chicago, in 2020. Despite entering a male-dominated industry, she aims to specialize in redevelopment within Chicago's underserved communities. The construction workforce in the U.S. comprises about 11% women, with black women making up less than 7%. Quinn utilized her experience and took construction classes to succeed, combating sexism and racism along the way. The company's establishment highlights the challenges and resilience faced by women in the construction sector.
Read More: Traci Quinn's Pink Hats Construction: Success After Prison Release