Latest news with #CultureBanx
Forbes
15-05-2025
- Business
- Forbes
Beauty Supply Stores Are Caught In Trade Tariffs Cross Hairs
Young African woman shopping in zero waste store U.S. tariffs on Chinese imports continue to squeeze supply chains, beauty brands are finding themselves caught in the crossfire. For Black consumers who drive more than $9 billion in beauty product spending annually these tariffs are having a major impact. Many of the beauty brands they shop with rely on affordable packaging, containers, and raw materials from abroad, and these new cost burdens threaten to push smaller players out of the market. S&P Global reported that tariffs on Chinese goods have come down to 30% from 145%, but can still increase production costs for many companies. Major corporations may absorb these changes, but indie small brands often can't. The Black hair care market's value exceeds $2.5 billion in this country, according to Mintel, which depends heavily on Chinese manufacturers, putting enormous pressure on product availability and prices. For some store owners, Chinese manufacturers supply about 90% of items found in beauty stores. CultureBanx noted they provide everything needed in the industry, from wefts used in sew-ins to ingredients like shea butter for ethnic hair care products. Black consumers make up about 70% of beauty supply market spending and trade policies affect all retailers, though Black-owned businesses suffer more due to existing inequities. The numbers paint a grim picture since Crunchbase reported that investment in Black-owned businesses dropped to $705 million in 2023, a 71% decline that marks the lowest point since 2016. Lack of capital hits Black hair stores across the country hard as this tariff crisis continues to play out. "Black beauty entrepreneurs already face systemic barriers within the supply chain, including limited access to capital to place large bulk orders that could help offset tariff costs," explains Tomi Talabi, founder of the Black Beauty Club told Essence. The tariff effects ripple out further because Black-owned brands are significant employers in their communities and often support other Black businesses through their supply chains. So when trade policy tightens, it doesn't just hit one company, it disrupts an entire ecosystem of cultural and economic empowerment. Government trade decisions rarely consider these cultural ripple effects. Without inclusive policy reform or tariff exemptions for small-scale importers, Black entrepreneurship in beauty could be priced out of its own success story. This is more than a supply chain issue, it's a culture cost. The texture of beauty shouldn't be reshaped by foreign policy. Purchasing power, when directed toward these beauty businesses, helps stores survive external pressures. However, if the pressure continues to mount, direct-to-consumer channels offer promising ways to bypass traditional store font issues to make sure all your beauty supply needs continue to be met.
Forbes
23-04-2025
- Business
- Forbes
Cloud Security Is Fueling Tech Leaders Innovation Growth Solutions
In a rapidly digitizing world, cloud computing has become the backbone of innovation. However, as the world races toward a tech-driven society, one critical issue demands urgent attention and that's security. Tech leaders like IntelligIS CEO Marcus Wilson, BizTech Fusion CEO Xadean Ahmasi and ECF Data CEO Joseph Hendrson see cloud migration as more than just a technical change. They consider it crucial for building organizational resilience and strengthening security posture, with Fortune Business Insights projecting that the global IT security market to reach $578.2 billion by 2033. The Breakdown You Need To Know: Cloud adoption without robust IT security is like building a smart city on a cracked foundation. To truly unlock the promise of digital transformation, IT security cloud solutions must be prioritized, not just as an afterthought, but as a strategic enabler. This is why Henderson, Ahmasi and Wilson leaned into the resources available to them as Microsoft BPGI Partners to help scale their businesses and provide exceptional results for clients, as CultureBanx noted during its 'Elevating Innovation' session. IT security remains tricky and this is exactly why a company like IntelligIS is hyper-focused on making sure to deliver the best security solutions to its clients. Companies can no longer ignore how poor cloud security hits their bottom line. Recent data shows that data breaches now cost $4.88 million on average in 2024, according to Beamsec. 'Educating our clients is key because it doesn't matter what type of tool you use. It could be multi-factor identification or end-to-end encryption…there are always gaps in the system,' said Wilson, IntelligIS CEO to CultureBanx. SentinelOne reported about 40% of breaches happen in hybrid cloud setups compared to single-environment storage. So, security teams must know how to handle the unique challenges of multi-cloud systems. Future Ready Solutions: The Center for Internet Security found that public cloud breaches prove the most expensive, with average costs reaching $5.17 million. These worrying numbers haven't stopped organizations like ECF Data from seeing that a well-planned move to the cloud actually makes things safer rather than riskier. Even with new technologies like generative AI models, IoT devices, and SaaS applications creating more attack points, a well-implemented cloud security setup offers clear advantages. IBM's Cost of a Data Breach Report Companies using AI and automation for security prevention cut their breach costs by $2.22 million compared to those without these tools. 'We've been doing a lot of AI projects to help transform organizations by using application development that we wrap with Microsoft Azzure Open AI products to help facilitate growth in various areas,' said Henderson, President and CEO of ECF Data. Companies are now recognizing that well-secured cloud environments protect better against emerging threats. Due to this cloud computing budgets will reach 51% of IT spending by 2025, according to Gartner. Trusting Innovation: Trust drives adoption because consumers, employees, and business partners are more likely to embrace digital platforms when they are confident that their data is secure. IT security solutions such as end-to-end encryption, identity access management and threat detection build trust. CultureBanx reported that in sectors like healthcare and fintech, where data sensitivity is paramount, this trust is non-negotiable. These industries along with others are using converging data solutions to fuel global expansion as businesses scale across borders, they must comply with stringent data regulations. BizTech Fusion is at the forefront urging companies to proactively invest in cloud security to better position themselves to expand and avoid repercussions. 'Any industry that deals with vast amounts of complex non-linear data that demands integration like bio-tech, day trading and sports betting, we make sure that it's optimized for companies to enhance their productivity, " said BizTech Fusion President and CEO, Ahmasi. What's Next: It's important to note that in 2025 alone, global cybercrime costs are projected to exceed $10.5 trillion, according to Cybersecurity Ventures. This reality underscores a simple truth that a tech-driven society cannot exist without secure digital infrastructure. Cloud security is no longer a technical detail, it is a strategic priority. In an effort to move from reactive defenses to proactive enablers of opportunity, secure cloud solutions must evolve. Only then can we build a future where technology empowers, connects, and protects everyone.
Forbes
09-04-2025
- Business
- Forbes
Consumer Confidence Slides As American Spending Power Signals Decline
Funny customer having regrets for buying so much after leaving the supermarket Money talks, and right now Americans aren't feeling confident about their financial future. Consumer confidence numbers crashed to 92.9 for March 2024, hitting lows not seen since early 2021. The numbers paint a stark picture. While unemployment sits at a seemingly healthy 4.2%, over half of consumers view the economy through a negative lens. CultureBanx noted that the mood shift matters, because consumer dollars fuel nearly two-thirds of all U.S. economic activity. This 7.2-point tumble caught market watchers off guard, falling short of their 94.5 prediction. Even more telling is Americans' outlook on jobs, income and business dropped to 65.2, the weakest showing in 12 years. "Consumers' expectations were especially gloomy, with pessimism about future business conditions deepening and confidence about future employment prospects falling to a 12-year low," said Stephanie Guichard, Senior Economist, Global Indicators at The Conference Board in a press release. Older Americans showed the steepest decline in confidence. The Consumer Confidence Board report indicates that consumers aged 55 and older led the downturn, followed by those between 35 and 54 years old. Yet consumers under 35 years old showed increased confidence. The decline touched households of all income levels, with all but one group, those earning more than $125,000 annually, showing decreased confidence. Even with the U.S. Consumer Confidence Index dropping 15% causing recession fears to mount, it's not the only thing they are worried about. Other concerning findings from the report include: The treasury yield curve suggests a high probability of recession ahead, according to JPMorgan. Wall Street veterans watch this commonly known "Fed's favorite recession gage" closely, as its track record speaks volumes. History shows tight monetary policy typically precedes economic downturns. Not to mention that Wall Street has missed the mark on GDP forecasts two years running. Big banks can't agree on recession odds. Reuters reported that JPMorgan pegs chances at 40%, while PIMCO sees 35% risk in 2025, up from 15% in December. Moody's matches that 35% forecast, with Chief Economist Mark Zandi calling it "uncomfortably high and rising". However, corporate America looks more worried as 60% of CFOs in CNBC's latest survey expect recession by late 2025, with 15% betting on 2026. American shoppers are rushing to beat price hikes. Families are stocking up on TVs, fridges, washers and microwaves. This is what the Consumer Conference Board calls "likely pre-emptive buying before tariffs lead to price increases". Now U.S. consumers expect a 5.1% price jump over the next year, which is the highest since May 2023 and up from 4.7% last month. The math hurts since prices have risen approximately 20% since the beginning of 2021, while paychecks grew just 17%, according to Marketplace.
Forbes
27-03-2025
- Business
- Forbes
Tech Entrepreneurs Are Ushering In The Next Wave Of Digital Transformation
Digital transformation has become vital for businesses to stay competitive in our ever-changing world. Innovative entrepreneurs like Lucas Diaz of Ludia Consulting, Jacqueline Shorter-Beauchamp of Engaged Media Studios, and Dexter Hardy of Ntegral, are utilizing advanced technologies to create solutions for complex business challenges. Their innovations are reshaping industries with decentralized systems, better decision-making capabilities, and uninterrupted physical-digital integration that OECD found could generate 24 million new jobs by 2030. Businesses must understand and adapt to new environments where digital transformation keeps changing product markets, business dynamics, and economic growth in all sectors. Specifically, the digital transformation market is growing rapidly, with an estimated market value set to rise from approximately $911.2 billion in 2024 to $3.2 trillion by 2030, according to Markets and Markets. This is why Diaz, Shorter-Beauchamp and Hardy leaned into the resources available to them as Microsoft BPGI Partners to help scale their businesses and provide exceptional results for clients, as CultureBanx noted during its 'Elevating Innovation' session. About 57% of small business owners know they need better IT infrastructure, according to a report from Finances Online. Statistics like these don't go unnoticed by companies like Ludia Consulting that specializes as a Microsoft Dynamic solutions provider. 'We saw the opportunity post pandemic for companies looking for unified data solutions, and we're it. So we're implementer focused on bringing customers into the new age of digital transformation' said Diaz, Managing Partner at Ludia Consulting to CultureBanx. Digital transformation helps improve customer experiences for both businesses and consumers. Small and medium businesses are adopting these changes rapidly, with their segment expected to grow at 29.2% yearly, according to Grandview Research. Better data use helps companies spot trends, opportunities, and areas that need improvement during tough economic times. Grandview Research reported the digital transformation market should grow at 27.6% yearly from 2024 to 2030. This growth comes from wider use of cybersecurity, artificial intelligence, big data analytics, and cloud computing. Business leaders still believe that digital transformation leads to success. The 2023 Insight Intelligent Technology Report shows that 82% of leaders agree companies need to invest in digital transformation to compete effectively. Digital experience companies like Engaged Media Studios that sit at the intersection of A.I. and digital media, are able to speed up product development and market entry. 'We're specializing in augmented mixed and virtual reality (like holograms), where we take those experiences and migrate them across various sectors including sports, entertainment, industrial, government and museum based organizations' said Shorter-Beauchamp, Engaged Media Studios CEO. The COVID-19 pandemic sped up Ntegral's enterprise cloud transformation and its ability to pivot. Dexter Hardy had to adopt innovative solutions to find more efficient ways to work and scale up quickly. 'We took our in-person consultant solutions and packaged those up into cloud solution accelerators then deployed it for the (Microsoft) Azure marketplace in 2021 with 44 customers. Now we have more than 100 customers and that continues to grow to this today. ' said Hardy, President of Ntegral. Cloud technology makes sophisticated tools accessible to small businesses that were once exclusive to large corporations. A study by MIT Sloan found that companies using cloud solutions see 2.3% to 6.9% higher revenue growth. Digital transformation in consistently reshaping how businesses operate worldwide while powering economic growth across every sector. There are innovative tech entrepreneurs ready to help businesses adapt quickly and adopt digital solutions to compete effectively in this fast-changing market. These unique leaders will keep pushing boundaries and create solutions that blend sustainability, optimization, and breakthroughs along the path to building a robust tech ecosystem.
