Oklahoma
Here Are Three Reasons Black Entrepreneurs Should Consider Moving To Oklahoma
Ashli Sims, the managing director of Build In Tulsa, challenges Black businesses to think creatively regarding location.
Arich history of economic development – that’s one reason to relocate to Tulsa.
The home of the historic Greenwood District, or “Black Wall Street,” and a city with a population north of 400,000 people, 14.8% of whom are Black, Tulsa is quietly gaining traction from Black entrepreneurs looking to grow their startups, says Ashli Sims, the managing director of Build In Tulsa.
“There’s a community of Black entrepreneurs doing the same thing that you’re trying to do,” Sims tells Forbes. “Tulsa can be a model for an inclusive, innovative economy for the rest of the country.”
August is National Black Business Month, and ForbesBLK is highlighting the theme with in-depth interviews with Black entrepreneurs, CEOs and other executives. The topics include finding capital in a high-interest-rate environment, expanding social capital and business loan options. In this interview, Sims invites founders looking to grow startups to explore moving to Tulsa, and the invitation incorporates rather than shies away from discussion of the city’s bloody history.
“You’re literally standing on the shoulders of giants,” she says. Build In Tulsa, Sims adds, is “amplifying and elevating Black entrepreneurs.”
Destigmatizing debt
Founded in 2020, Build in Tulsa is a nonprofit organization that aims to tackle the wealth gap by training Black entrepreneurs and providing pathways to capital via accelerator programs. The organization has invested $5 million in over 324 startups in its network, according to Sims. As a result, she estimates those companies have raised over $20 million in additional capital. Founders must live in Tulsa for the duration of accelerator programs to receive funds. In August 2022, Forbes partnered with Build In Tulsa for its “Journeys to Wealth” series, which included trips to Tulsa and its history center, Greenwood Rising, dedicated to the 1921 Black Wall Street massacre that destroyed a prominent economic ecosystem in the city’s Greenwood District.
“We want to make sure you have the human capital, the social capital and the financial capital you need to succeed,” says Sims. “And it takes all three of those things.”
As more Black entrepreneurs enter the business economy and aim to replicate Tulsa’s history of Black economic development, Sims suggests they educate themselves on the differences between good debt and bad debt. That advice comes on the heels of American credit-card debt reaching a record-high $1 trillion. Keep in mind that Black founders tend to use personal funds to meet financial challenges more than other ethnic groups. “Everybody is scared of debt,” Sims says. “But the fact is, that’s how most major businesses run; they have a line of credit.” She suggests that Black founders become comfortable with debt and the process of applying for it, especially from Community Development Financial Institutions.
Watch the video for more from Sims.
MORE FROM FORBES
Oklahoma and the U.S, saw increases in the past week in the numbers of active oil and gas drilling rigs, meaning there was a resumption in exploration.
The latest Baker Hughes Co. rig count released on Friday, showed Oklahoma had a gain of two rigs to reach a total of 35 rigs. The total compared to 39 one year earlier.
The nation’s rig count increased by 3 to reach 589 including a gain of 5 oil rigs for a total of 482. The number of gas rigs fell by two to 101. As a result of the latest rig numbers, the U.S. count remained 75 below one year earlier when there were 664 rigs. In the past year, the decline included 47 oil rigs and 27 gas rigs.
While Oklahoma saw an increase in its rig activity, Texas remained at 276 with no gain or loss in its number of rigs. New Mexico was unchanged at 108 and North Dakota added one rig for a total of 35. Louisiana’s count dropped by one to 41.
Colorado was unchanged at 14 and the Red Top Rig Report showed Kansas added one rig to reach 27. Ohio remained at 11 and Pennsylvania stayed at 21 rigs.
Utah continued with 13. West Virginia remained at 5 rigs and Wyoming saw no change in its number of rigs at 11.
The Permian Basin, where most of the drilling activity is located in the U.S., saw the count decline one rig, leaving 304 active in exploration. The Eagle Ford count rose one to 50 rigs and the Haynesville stayed at 35.
The Williston added a rig for a total of 36. The Marcellus was unchanged with 25 rigs.
The Ardmore Woodford remained at only one rig while the Arkoma Woodford added a rig to reach 2. The Cana Woodford activity increased by one rig to reach 17.
The D-J Basin remained at 10 rigs and the Granite Wash was unchanged with 5 active rigs. The Mississippian slipped to no drilling activity following the loss of its sole rig, based on the Baker Hughes rig report.
The Utica remained at 11 rigs and the Barnett play continued for another week with no reported drilling activity.
A search for two people is underway Friday morning after a vehicle crash in northwestern Oklahoma City, police say.
Friday, July 26th 2024, 5:47 am
By:
News 9
OKLAHOMA CITY –
A search for two people is underway Friday morning after a vehicle crash in northwestern Oklahoma City, police say.
Oklahoma City Police said they responded to the scene of the crash around 4 a.m. near North Walker Avenue and Northwest 89th Street, but only found the vehicle involved.
OCPD said two people fled from the car at the scene of the crash, and now officers are searching for them.
Oklahoma State has hopes to make its first College Football Playoff, but that could take a hit before Big 12 play begins.
The Cowboys’ season opener is just over a month away and they enter as a dark-horse contender for the College Football Playoff. Ranking third in the Big 12’s preseason poll, OSU is also a fierce contender to take the Big 12.
Of course, if the Cowboys can take care of business in the conference, they will earn an automatic bid to the College Football Playoff, so long as they are one of the five highest-rated conference champs. With only four power conferences, the Big 12 champion is almost a lock to make the playoff and earn a first-round bye as a top-four seed.
As one of 16 teams in the conference, winning the Big 12 is much easier said than done. Even if the Cowboys can make it to Arlington, they know better than most that there are no guarantees, having lost two of the past three title games.
READ MORE: OSU Football: Analyzing 2024 Big 12 Football Championship Odds
If OSU has a strong conference season but can’t take the Big 12, it must rely on an at-large bid. To get an at-large bid, the Cowboys will need a strong nonconference performance.
OSU’s nonconference slate this season leaves no room for error if the team needs to compete for an at-large bid. OSU opens the season against arguably the toughest opponent in the FCS, South Dakota State.
If the Cowboys can get past the Jackrabbits, they will host one of the SEC’s worst teams when Arkansas visits Stillwater. While losses in either of those games are possible, it would derail the Cowboys’ Playoff hopes early. If OSU somehow gets upset by Tulsa, it would be a South Alabama and Central Michigan level of disaster.
With matchups against Oregon and Alabama in future nonconference schedules, OSU leaves room for the quality losses discussion. However, with no opportunity for a quality win in the nonconference this season, any hiccups in the Big 12 could hurt one of the most talented teams in the Mike Gundy era.
READ MORE: OSU Football: Weak Schedule Could Hurt Big 12 Title Chances
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