Stonewall Gazette

Written by Jeremy Quittner

It may come as no surprise that states where startups traditionally thrive are also good for LGBT -owned businesses. After all, such states typically have good business networks, access to venture capital, and other forms of financing that are all important to fostering business growth. But the National Gay & Lesbian Chamber of Commerce (NGLCC) found something else just as important is at play in the top five states for LGBT-owned small businesses: they’re being helped by much larger businesses in their area. California, New York, Texas, Florida and Georgia contain roughly half of all businesses that have an LGBT ownership certification, according to an NGLCC report. While these are all top states for startups in general, they are also home to numerous Fortune 500 companies whose diversity programs encourage LGBT-certified businesses, among other minority-owned businesses, to become part of their supply chains.
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LGBT Businesses Contribute $1.7 Trillion to the American Economy

Written by Dylan McNally, Patrick McAnaney, & Andrew Lowenthal


Entrepreneurship and risk are a package deal, and launching a company as an LGBTQ person places yet another set of challenges on an already uncertain endeavor. A question such as, “Is my product-market fit secure enough to raise venture capital?” gives way to something more haunting: “Could my sexual orientation or gender identity limit how much funding I get from investors?” As a result, a young LGBTQ person might forego their innovative startup idea for a more secure job at a company that accepts, or even celebrates, their identity.

Five Reasons Why LGBTQ Entrepreneurs Are Joining Forces Are

1. The data show real inequality gaps for LGBTQ people in entrepreneurship.

2. Strong networks provide better access to resources and investors.

3. LGBTQ-supportive companies see positive outcomes for employees.

4. LGBTQ innovation helps companies solve problems and tap into new markets.

5. Future generations of LGBTQ people should see entrepreneurship as a viable path to success.

Continue Reading: Five Reasons Why LGBTQ Entrepreneurs Are Joining Forces

Written by Gene Marks

The National Gay & Lesbian Chamber of Commerce (NGLCC), a trade group that represents businesses owned by lesbian, gay, bisexual and transgenders, reported this week that the typical LGBT business has been in business, on average, for more than 12 years and that LGBT businesses contribute more than $1.7 trillion to the U.S. economy and have created more than 33,000 jobs. The report serves as a reminder of the enormous and growing role LGBT entrepreneurs and business owners have in the United States. READ MORE

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From trash to treasure, kicking your clutter habit can be good for your health and wealth. But how do you put a price on personal property? In this Money Smart, Glen Walker finds simple ways to cash in on collectibles. WATCH VIDEO

RELATED How Financially Faithful Are You?

Written by Shane Smith, Editor, Stonewall Gazette


“Are gays better with money” is a question financial guru David Rae says he's often asked about. Rae states, "...it’s been reported that LGBT people earn more and have less debt than the general population, but does that mean we gays are actually better with money?" 

Rae explains that studies suggest gays are more savvy with finances and yet there are polls that show LGBT people have lower income and lower levels of education. Who is right?

Read more analysis from Rae on this interesting topic here.

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Saying, "I do," is a dream for many gay men BUT when it comes to the financial aspects you may need to exercise caution. Did you know that in 28 states you could get fired for being openly gay?

David Auten and John Schneider are The Debt Free Guys and their mission is to help give people a money conscious blueprint. In this useful video they discuss the importance of knowing your legal rights.

You can follow The Debt Free Guys on Twitter

WATCH VIDEO

Are you financially faithful? It might sound like a half-witted joke, but financial fidelity is real. So real, in fact, that it's one of the biggest issues tearing apart marriages and families. Some financial fibs might be considered 'little white lies,' while others are outright cheating. Either way, the discovery that you or your partner have been unfaithful with your combined hard earned cash will likely lead to an argument. It's common knowledge that money is the number one issue that couples argue about and therefore shouldn't come as much surprise that money is also the number one issue that couples lie about, not to mention the biggest issue leading to divorce. Different surveys over time have come up with similar results: about one-third of couples -- whether married, engaged, or living together -- have kept cash secrets from each other.

Here's what the most common financial fibs are about: 

• Gifts and Discretionary Spending 
• Credit card debt 
• Loans to Family and Friends 
• Hidden Savings 
• Failed Investments 
• Food and Drink 
• Earnings 
• Retirement Accounts 

"Over the past century, the United States has witnessed historic advances in public health and medicine that have contributed to improved health and a significant increase in life expectancy for all socioeconomic groups. But despite 100 years of historic advances, University of Minnesota sociologists have found that the health gap between classes has not changed. The researchers found that despite advances in nutrition, immunization and environmental factors, and even with a change in the types of diseases that have claimed lives over the past century, the relationship between socioeconomic position and and health remained stable over the past century." FULL STORY