NM
NEW MAJORITY
VENTURES
2024 IMPACT REPORT
DEMOGRAPHIC INFORMATION
Gender
Female76.92%
Male23.08%
Age
18-250%
26-3513.76%
36-4540.37%
46-5524.77%
55+21.1%
Race
Black or African American95.19%
Mixed Race2.8%
Hispanic/Latinx0.9%
White0.9%
Prefer not to say0.9%
REVENUE INFORMATION
| Average | Total | Growth % | |
|---|---|---|---|
| 2022 | $117,992.99 | $12,861,236.00 | |
| 2023 | $248,450.54 | $27,081,109.00 | 110.56% |
| 2024 | $136,190.17 | $14,844,729.00 | 45.18% |
| 2025 (Projected) | $360,133.70 | $39,254,573.00 | 164.43% |
20.4%
Stayed the Same
50.5%
Increased
29.1%
Decreased
Profitable
52.4%
Yes
43.8%
No
3.8%
Unsure
BUSINESS INSIGHTS
Business Status
Operating
Idea/Planning
Closed
Money Raised to Date
Total
$20,933,700.00
Average
$192,052.29
2020
Media Start Year
2020
Median Incorporation Year
Average Months of Cash Reserve
3.42
Source of Capital
Personal
Funds
Credit
Cards
Bank
Friends/Family
Other
JOB CREATION
Staffing Changes
50.46%Stayed the Same
34.86%Increased
14.68%Decreased
257
Total Jobs Created
Team Size
| Average Team Size | Total Staff | |
|---|---|---|
| 2022 | 2.58 | 281 |
| 2023 | 3.09 | 337 |
| 2024 | 3.78 | 413 |
IMPACT & PROGRAM INFLUENCE
Participation in NMV program helped raise funds:
32.1%
Yes
67.9%
No
NPS Score: 4.4/5
Value of Network: 4.05/5
Business Survival & Growth due to NMV support:
68.8%
Yes
31.2%
No
Participation in Other Accelerators
45.9%
Yes
54.1%
No
Accomplishments Due to Program
Changed a
business practice
Changed
business plan
Better
understanding of finance
Increased
revenue
Increased
profitability
Hired new
employees
Raised
additional capital
Confidence Growth Areas
Self
Operations
Marketing
Finance
Customer
Acquisition
Fundraising
Other