By CultureBanx Team
- Finance Savvy is making sure that small business owners have the tools necessary to support growth and generational wealth building
- In 2064, the average white family will likely possess $2.7B in wealth while the average Black family wealth will be $789K
Entrepreneurship is a potent tool for wealth creation and achieving financial independence. Founder Marguerite Pressley Davis’s Finance Savvy CEO company is making sure that small business owners gain the ability to set their own salaries and reinvest profits back into the business, fueling growth. This control over income provides a pathway to financial freedom and the opportunity to create generational wealth, which is needed because in 2064, the average white family will likely possess $2,782,727 in wealth while the average Black family wealth will be $789,164, according to a report by Elliott and Abacus Wealth Partners.
Why This Matters: The endeavor to build generational wealth among Black families has become a critical focus in the U.S., where numerous barriers to creating it persist. Moreover, the disparities are glaring in the case of business ownership, a potent source of generational wealth. Considering that in 2022, for every $1 of wealth held by a white family, a Black family had just $0.25, it’s evident that systemic change is needed. This is why Pressley Davis’s Finance Savvy CEO is uniquely positioned to fill the void for small business owners looking to get ahead financially.
CultureBanx: Describe Finance Savvy CEO and the important work you are doing?
Marguerite Pressley Davis: We help entrepreneurs and small business owners to build their financial competence & confidence, equipping them to operate a profitable business that supports generational wealth building. We do this through CEO level financial programming, coaching, content, and products that build & enhance business financial literacy, and strategic financial planning focused on profit maximization, financial health, and long term organic financial stability.
CultureBanx: What is your company’s unique value proposition that makes it stand out from the competition?
Marguerite Pressley Davis: Finance Savvy CEO is a programming and members-only access EdTech/FinTech platform. It aids to close the gender & racial wealth gap through helping entrepreneurs improve their business financial confidence and the overall financial health of their business.
Entrepreneurship goes beyond individual benefits. It plays a significant role in job creation and economic growth. As a business expands, it requires an increasingly larger workforce to support its operations. This not only creates job opportunities for individuals but also contributes to the overall economic growth of the ecosystem, much in the same way that the Black Innovation Alliance (BIA) does to support founders.
CultureBanx: How has the Black Innovation Alliance supported your personal and professional journey?
Marguerite Pressley Davis: By keeping an agile model internally as a company, but also staying close to our clients and their changing needs.
CultureBanx: What inspired you to start your business?
Marguerite Pressley Davis: Greater than 50% of businesses that start will be out of business within 5 years with finances as the #1 reason. The core focus of our business is with a core focus on business financial and capital planning, access to capital, small business financial literacy, and investor and issuer education.
Pressley Davis has helped small business owners to raise $33M+ in capital and increase annual profits on average by 63%. Her mission to help entrepreneurs create a pathway to generational wealth, through profitable entrepreneurship and organic financial sustainability is why she created Finance Savvy CEO.
CultureBanx: Are there any milestones you have achieved that you would like to share?
Marguerite Pressley Davis: Innovation and sustainable growth can only happen if we are building ventures that are profitable and support wealth building. When we innovate we must ensure that our methods, processes, and overall business is financially healthy and sustainable .
CultureBanx: What’s next for your company that we should be on the lookout for?
Marguerite Pressley Davis: A massive strategic partnership that will enable us to amplify our impact!
Situational Awareness: Small businesses play a pivotal role in the economy. They contribute to economic growth by creating jobs, innovating products and services, and fueling local economies. Perhaps it’s time we shifted our focus from merely business success to a more holistic approach that includes wealth creation and financial stability.
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***UrbanGeekz and CultureBanx’s “Black Innovations’ Frontline” is an exciting first-of-its-kind series showcasing Black Innovation Alliance member organizations. The Q&A series will highlight the founder’s impact across the entrepreneurial landscape in the United States through a unique culturally attuned lens.
