Find out about an untapped market you may not be targeting–African-American consumers–and how to reach them in my blog on AT&T’s SmallBusinessInSite.

Get the latest on the state of small-business lending in my blog on iBank.com.

Finally, read whysome of America’s biggest brands are turning to franchising in my post on the AllBusiness.com Franchise Blog.

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By Rieva Lesonsky

If a million entrepreneurs around the world grew their companies to $1 million in sales, it would add up to a global GDP of $1 trillion, and up to 10 million new jobs. So contends Sramana Mitra writing on Forbes.com about her new project, the 1M/1M Ambassadors.

Mitra, a technology entrepreneur and strategist who has founded three companies, came to this conclusion after observing hundreds of businesses. “The most vulnerable phase in an entrepreneur’s life is the pre-$1 million revenue stage,” Mitra explains. “Once the $1 million revenue milestone is crossed, it’s easier for entrepreneurs to find additional customers, manage working capital and access funding.”

Mitra believes her goal can be accomplished through education, and is using her blog, books and roundtables to develop an entrepreneurial education system that entrepreneurs worldwide can access. The goal of her 1M/1M Ambasssadors—a core group of entrepreneurs who are supporting her efforts—is to share the best practices of Silicon Valley with entrepreneurs to help them grow.

I love Mitra’s approach to her goal. While she admits it would be easy to ask for government help or funding, she’s not doing so. Instead, she’s creating a community of business owners to help other business owners grow their companies. “Make no mistake,” she writes, “an entrepreneurship movement is ultimately going to be taken forward by entrepreneurs.”

Are you interested in moving it forward? Find out more about 1M/1M Ambassadors.

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By Rieva Lesonsky

Did you miss any of my blog posts from around the Web this week? Here’s a quick roundup:

In last week’s State of the Union address, President Obama proposed tax credits and other programs to aid small businesses in creating jobs, plus new steps to help with small business loans. Find out all the details in my post on Anita Campbell’s Small Business Trends.

Maybe people aren’t hiring yet, but if you think that means you can treat your staff badly without worrying that they’ll bail, think again. Read my AllBusiness.com column to find out what smart entrepreneurs are doing now to ensure their key people stay loyal when hiring picks up.

It’s sad but true–in an effort to cut costs some franchisors have abandoned their diversity efforts. Find out why this is a big mistake—and what savvy franchisors are doing to ensure women and minorities equal access to business ownership—in my AllBusiness.com Franchise Blog.

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By Maria Valdez Haubrich

Photo Courtesy: AP

Every month our company donates a small amount to a worthy charity. This month it was a no-brainer that we donate to disaster recovery efforts in Haiti.
Want to help? Here are a couple places that list ways to donate:

• WhiteHouse.gov (click on the “Help for Haiti” button for information)
• CharityNavigator (evaluates various charitable organizations by financial health)

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By Rieva Lesonsky

The National Venture Capital Association (NCVA) has just released its outlook for the state of venture capital in 2010. The annual predictions survey, Venture View 2010, polled more than 325 VCs across the U.S. What are some of the predictions?

Most respondents expect more venture capital to go to more companies in 2010. Sixty-three percent of all respondents believe the dollar amounts of venture investment will stay the same or increase from 2009 levels, with 44 percent predicting a level between $21 billion and $25 billion. Half of the respondents predict more companies will get venture financing; one-third say the number of portfolio companies will stay the same.

In terms of what stage companies will receive capital, most VCs (55 percent) expect that investment in companies at the growth equity stage will increase; 53 percent expect an increase in later stage investing; and 49 percent foresee an increase in expansion stage investing. The outlook isn’t as good for investment in younger companies; just 45 percent of VCs surveyed expect growth in early and seed stage investments.

VCs also predict a shakeout in the industry, with 90 percent of them saying the number of venture capital firms will decrease over the next five years. Most of those respondents say the industry will shrink between 1 and 30 percent.

“It is readily understood by the venture capital community that our industry will shrink in size going forward,” said Mark Heesen, president of the NVCA. “That will mean fewer firms, for sure, but not necessarily fewer companies funded. There is a great deal of innovation taking place and venture capitalists who have the track record to raise funds will be well positioned to build companies. Most venture capitalists will agree that a smaller industry is a better one.”

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