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Walmart Helps Local Food Banks Feed California’s Estimated 4,354,400 Food Insecure Individuals Through Food Donations and “Fight Hunger. Spark Change.” Campaign

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Approximately 11% of state’s population consistently struggles to get enough to eat; research shows hunger impacts learning, health, and productivity

Image courtesy of Feeding America

 

Inland Empire, Calif., September 26, 2019 – While food insecurity is more prevalent in some parts of the country, the reality is that it exists in all communities. According to the US Department of Agriculture, nearly 40 million people face hunger in the U.S., including an estimated 4,354,400  individuals in California.

Walmart is deeply committed to fighting hunger and, as part of its efforts, collaborates with Feeding America®, the nation’s largest domestic hunger-relief organization, year-round to support their network of 200-member food banks and 60,000 food pantries and meal programs nationwide.

This year, through the retailer’s spring “Fight Hunger. Spark Change.” campaign, Walmart and Sam’s Club customers and associates raised more than $1,298,198 for California food banks, helping them provide healthy, nutritious meals to individuals and families struggling to get enough to eat.

Since 2014, the “Fight Hunger. Spark Change.” campaign has helped raise more than $5,269,689 for California food banks, helping secure more than 1 billion meals* for food banks nationwide. In 2019 in the Inland Empire and Indio, Walmart and its partners donated $164,844 to Feeding America Riverside | San Bernardino Counties Food Bank and $43,419 to Find Food Bank.

“Fighting hunger in our communities is extremely important to our stores, clubs and distribution centers, and Walmart as a company. Together with our customers, associates and suppliers, we are making strides toward hunger relief,” said Todd Siron, Walmart regional vice president for California. “We’re proud to be able to provide our local food banks with the support they need to truly make a difference in the lives of the families that rely upon them.”

In addition to monetary contributions, retail food donations are also an important part of Feeding America’s strategy for fighting hunger, accounting for the largest single source of meals the organization provided to people facing hunger last year.

In 2018, 1.4 billion meals – 32.5% of total meals provided by Feeding America partners—resulted from retail food donations. In California last year Walmart stores, Sam’s Clubs, and distribution centers donated more than 28 million lbs. of food to California food banks and affiliated pantries, resulting in thousands of meals for California families and individuals.

“Every day, Feeding America member food banks see the impact that hunger has on children, families, seniors and communities. We encourage everyone to find their local food bank and take action to help end hunger,” said Claire Babineaux-Fontenot, CEO of Feeding America. “Community support is essential to helping our neighbors in need and we are tremendously grateful to Walmart, Sam’s Club and their dedicated suppliers, associates and customers for their commitment to helping people who struggle to put food on their tables.”

Hunger can affect individuals from all walks of life, but some populations are more at risk. In California, children are one of the most vulnerable groups to food insecurity. According to Feeding America, hungry children are more likely to be hospitalized and face higher risks of health conditions like anemia and asthma. As they grow up, kids struggling to get enough to eat are more likely to have problems in school and other social situations.

As Hunger Action Month comes to a close on September 30, Walmart and Feeding America want to remind everyone that every action counts in the fight against hunger. Individuals can take action today to help fight hunger in their communities by volunteering their time or donating to any of the 200-member food banks or 60,000 food pantries and meal programs that comprise the Feeding America network. Go to www.hungeractionmonth.com to learn more and find a local Feeding America partner near you. Learn more about what Walmart and the Walmart Foundation are doing to help in these efforts at Walmart.org.

About Walmart in California

Walmart Inc. (NYSE: WMT) helps people around the world save money and live better – anytime and anywhere – in retail stores, online and through their mobile devices. In California, we serve customers at 303 retail units and online through Walmart Online Groceryhttp://Walmart.com and our family of brands. We are proud to employ 91,124 associates in California. Walmart supports local businesses, spending $24 billion with California suppliers in FYE18 and supporting 257,706 California supplier jobs. Walmart continues to be a leader in employment opportunity, sustainability, and corporate philanthropy. In FY18, Walmart and the Walmart Foundation contributed more than $61 million in cash and in-kind donations to local nonprofits in California and our California associates volunteered more than 39 thousand hours with local causes. Additional information about Walmart can be found by visiting our corporate.walmart.com, and our FacebookTwitterPinterest, Instagram channels.

About Feeding America
Feeding America® is the largest hunger-relief organization in the United States. Through a network of 200 food banks and 60,000 food pantries and meal programs, we provide meals to more than 46 million people each year. Feeding America also supports programs that prevent food waste and improve food security among the people we serve; educates the public about the problem of hunger; and advocates for legislation that protects people from going hungry. Individuals, charities, businesses and government all have a role in ending hunger. Donate. Volunteer. Advocate. Educate. Together we can solve hunger. Visit www.feedingamerica.org, find us on Facebook or follow us on Twitter.

*$1 helps provide at least 10 meals secured by Feeding America® on behalf of member food banks. This meal calculation is updated annually based on fiscal year financial and operational results. Campaign dates: 4/22/19 – 5/20/19.

The Inland Empire Business Journal (IEBJ) is the official business news publication of Southern California’s Inland Empire region - covering San Bernardino & Riverside Counties.

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Opinion

Supply Chain Delays and Strains to Continue through 2022

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OPINION

By Hema Dey, IEBJ Content Contributor

Managing Price Increases

From the start of the pandemic in 2020, businesses have been absorbing ongoing shocks that impacted operations and the bottom line. The supply chain delays and strains everybody hoped would resolve in 2021 seem set to continue through 2022; while the backlog of ships waiting for berths at the ports of Los Angeles and Long Beach fell to a low of 43 mid-March, experts expect a new surge of goods shipped from Asia after the Lunar New Year to drive those numbers up again. After that, the situation is unclear—the latest lockdowns in Shenzhen threaten to cut off supplies of parts and products when U.S. businesses are already starved from ongoing shortages.

At the same time, the war in Ukraine and sanctions on Russian oil are driving already-high fuel prices even higher around the world. While experts disagree on whether we can expect gas prices to keep climbing or that they’re near their peak, it’s clear significant relief is unlikely soon. That additional expense is unwelcome news for businesses of all kinds.

Knowing the current difficulties will be part of the landscape for the foreseeable future has brought many companies to the unavoidable conclusion that they have to raise their prices to stay in business. If you’ve delayed making changes in the hope that things would pass, you’re certainly not alone—but if you’re coming to the realization that you can’t wait to adjust your prices to reality anymore, then you’re not alone there either.

The Right Way to Handle Raising Prices

When raising your prices is a necessity, how you approach it can make a significant impact on minimizing any negative fallout. Your customers are naturally not going to be happy about seeing their costs go up. Anticipating such dissatisfaction is one reason why businesses put off making price adjustments much longer than they should. However, postponing the inevitable can harm your business and won’t change the factors that make an increase necessary. Here’s what you should be doing to manage price increases wisely.

The first thing to remember is that price increases don’t happen in a vacuum. Beyond simply considering the pressures on your business in terms of your growing costs, you need to know what your competitors are doing, and you need to find out fast. If your proposed price increases are wildly out of line with what the rest of your competition is doing, you could easily lose market share. We can assist in getting an up-to-date view on the moves your competitors are making to help you factor in this critical angle.

Next, you shouldn’t delay price increases, but you should also keep them realistic. Deferring the inevitable will weaken your business’s financial position and increase the pressure to put even higher prices in place when you finally do act. At the same time, you must keep in mind that your customers are almost certainly experiencing the effects of increased fuel costs and higher shipping rates just like you are. When clients feel like a business is taking advantage of a general atmosphere of inflation to boost their own profits at the expense of their customer base, they’re rarely quiet about it. Stick to doing what you have to do to keep your business healthy, and don’t be tempted to pad it.

Finally, this is absolutely the time to revisit your marketing strategy. When prices go up, buyer behavior changes. Review all your keyword searches to understand how these fluctuations may be affecting traffic to your website. Repositioning your business accordingly can help avoid unexpected hits to your sales and leads, and may even lead to new opportunities. 

Seeking Guidance

Trying to adjust to the current economic challenges can feel overwhelming for business owners. You don’t have to go it alone when you’re contemplating significant changes like raising your prices—calling in an expert consultant can give you confidence that you’re taking the right steps for the long-term good of your company and your customers. If you need benchmarking assistance, contact Iffel International here. We can help you take the right steps down a difficult road.

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Banking & Financial Services

Q&A Session with Black Cooperative Investment Fund Executive Director—Kaine Nicholas

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Q&A with Kaine Nicholas, Executive Director of Black Cooperative Investment Fund

By Josaline Cuesta, Small Business Majority, Senior California Program Manager, and IEBJ Contributor

Why is financial literacy important for small business owners? What are the pillars of financial literacy?

Financial literacy is the comfort level one may have with topics related to money and its management. Financial literacy is critical to success, and it’s where everything begins for small business owners.  

At the beginning of a business venture, an entrepreneur can be cash-challenged and relatively inexperienced in practical business versus theory. It is important that while learning the business terrain, entrepreneurs have at the very least, a baseline of financial literacy to question documents and do calculations or have support to negotiate effective business terms. Any terms that are negotiated at the beginning of a venture can significantly affect the projections or the valuation of a business. These effects can vary widely, depending on the comfort level of financial literacy. 

The pillars of financial literacy are banking, budgeting, saving, credit, debt, and investing. What matters most to small business owners is budgeting, banking, and credit, and we recommend focusing on that order for small business owners. Understanding the numbers, having the assets with banking partners that can offer solutions, and building business and personal credit are all imperative to small business owners. BCIF and its trusted partner, AmPac Business Capital can help everyone gain a firm awareness of these pillars.

What’s needed to create a strong financial plan?

What is needed to make a strong financial plan is the actions that happen alongside writing the actual financial plan. While one may be uncertain of the “hockey stick” or optimistic revenue, what people can control is the cost. Know those costs and how they change in a good, better, or best scenario to keep you prepared.  

No one likes surprises. There is security and comfort in knowing that costs are consistent and predictable. Spend time conducting the research and use due diligence so that you and the financial partners understand the financial plan and financial statements. 

What’s in a business plan, and why is having one essential for a small business owner? 

A business plan is a document that, at its most basic level, can help small business owners navigate the who, what, where, why, and how to generate income with a product or service. The business plan tells the reader that this “document” is your prototype on paper. The business plan also helps readers understand the basic valuation of your business. 

If your business plan is on paper, does it articulate the vision, or is it a requirement for a loan program? The business plan is important because it represents as the creator of the business. Thinking business out on paper can reduce mistakes in real-world execution.  

What’s the best way to document and share major changes to a business plan with your financial advisor and employees, such as becoming a corporation or expanding to another state? 

Ensure the establishment of company meetings and hold them routinely, preferably with quarterly updates. This allows stakeholders to receive firm-wide public information and establishes communication between leadership, management, and employees. 

What are some tips for thinking strategically about cash flow?  

One tip is to understand what is in the pipeline and/or accounts receivables and monitor subscriber trends to your products or solutions. When I ask business owners how their business is doing, they usually respond with, “it’s going well.”  And I always ask myself, what does that really mean, and is the owner aware of the items that support healthy cash flow?

Is a personal credit score relevant to small business success? What defines a “good credit score” and how can you maintain one?

Personal credit is relevant to businesses at the earlier stages of a business. If used correctly, one should leverage good credit and create business credit as soon as possible. Personal credit and business credit are created differently and operate differently. That difference can be critical to accessing capital. Unfortunately, a “good credit score” is not universal. We recommend owners investigate the potential creditor by asking what numerical score and credit history on the credit report will produce a favorable outcome. A credit score and credit report are two components that contribute to a sizable credit decision. With that information, the small business owners have a credit “road map.” What is most important is that the business owner is proactive in the credit conversation. One can maintain and learn more with one of BCIF’s trusted partners, AmPac Business Capital.  

What are the top three easy-to-navigate business loans for a startup business? Do the types of loans that are needed change in your 2nd or 3rd year of business?

The top and the easiest loan is a zero-interest loan based on an alternative way of evaluating personal credit and traditional risk models. If one can find a small business loan that targets a certain demographic or type of business, that should be extremely helpful. Third, look for a small business loan that can be forgiven. 

The types of loans that could change in your second or third year of business can be tricky. Business success and loan/funding gaps require careful consideration, but most important, predictability. 

How will I know that a financial literacy resource is proven and credible?

Financial literacy is a journey. One way to affirm credibility is to compare it to your financial situation. Always have a backup resource for validation.

How can the average entrepreneur improve their financial literacy?

This is an important and critical question that I will answer in an alternative, more direct way. I strongly recommend these three words as ways to improve personal and business financial literacy:

  • Curiosity
  • Humility
  • Discipline

Start with opening your mail and being curious about the words that you do not understand in your statements. Call the service number and ask the person to explain what these words mean regarding your account. It sounds simple, but it truly is a free lesson that benefits your personal or professional situation. The information is memorable because the asker is learning even when configuring the question. (Do not forget your tax person or accountant.   They are your resources).

Humility helps your behavior when you ask a question, and you partially know the answer, but you ask questions to attain mastery.  

Lastly, you must be disciplined and determined when you call the service line or account representative when you do not fully understand a financial term. Do not feel like you are wasting their time asking basic questions. If they have chosen to do business, service your needs, or hold your money, you are only using your mutual rights within the relationship. 

What is the best way to stay abreast of COVID relief funds and resources in the Inland Empire area?

Contact the Black Cooperative Investment Fund (BCIF) at www.bcifund.org, 310-904-6336, reach out to our partner, AmPac Business Capital at www.ampac.com, or visit Venturize: https://venturize.org/—Small Business Majority’s free online resource hub for small business owners who need help accessing tools and resources to grow their businesses.

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Opinion

City of Ontario adopts updated Housing Element to help address housing – and affordability – crisis across Southern California

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The Ontario City Council Tuesday night adopted an aggressive plan that would position the City to lead the Inland Empire in addressing the housing crisis.

Ontario’s updated Housing Element lays out a series of planning and zoning changes that would allow the building of more than 20,000 housing units over an eight-year period ending in October 2029, including nearly 9,000 units for low-income and very low-income residents.

Those numbers represent Ontario’s allocation under the state-mandated Regional Housing Needs Assessment (RHNA) – a process governed by the state Department of Housing and Community Development (HCD) and updated every eight years to address the housing shortage across California.

No Inland Empire city had a higher RHNA allocation than Ontario – testament to the City’s standing as one of the most dynamic economic and population centers in Southern California. Across the six-county SoCal region, in fact, only three cities – Los Angeles, Long Beach and Irvine – had higher allocations.

“Our updated Housing Element reflects the City Council’s commitment to Ontario as a complete community and a destination for individuals and families looking for a better quality of life,” said Mayor Paul S. Leon.

Under state guidelines, Housing Elements do not require a city to build their allocated number of housing units. That is ultimately determined by market forces, point-in-time demand and the ability of homebuilders themselves to meet those needs at the appropriate price points.

What HCD does require is that cities establish a framework that would allow that level of production if those other factors were met.

The updated Housing Element approved by Ontario’s City Council was built around several priorities:

  • Addressing the needs of existing Ontario residents for quality and affordable housing at all income levels.
  • Ensuring that the city’s housing stock matches the type, price and tenure needed by Ontario’s residents and workforce.
  • Creating, preserving and (where needed) improving the quality and identity of Ontario’s distinct neighborhoods.
  • Assisting residents of all ages and backgrounds to allow them to live, work and enjoy themselves and their families in Ontario.
  • Obtaining financing for affordable housing as tax credits become more competitive and make it more difficult to obtain financing for affordable housing.

The plan also takes into account job growth and the City’s commitment to supporting business and employment opportunities. During Tuesday’s meeting, the Council certified the Environmental Impact Report for the South Ontario Logistics Center, which will create hundreds of new jobs on more than 200 acres of commercial and industrial space.

Other major economic development efforts in the City include the Downtown Renaissance, which, when completed, will include nearly 600 new residential units, 13,000 square feet of commercial space, a 450-space parking structure, breweries and tasting rooms, and college satellite campuses.

“The vision and leadership of our Council and City staff have made Ontario a model for business growth, career opportunities and livability. The future has never been brighter,” said Mayor pro Tem Alan D. Wapner.

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