Starting Small… Thinking Big. A Women’s Initiative Blog

Celebrate the Power of Women Entrepreneurs!

Women business owners are a powerful and growing force in this country. To celebrate the impact these women are having on our local economies, Women’s Initiative has launched its third annual Woman Entrepreneur of the Year Awards.

Recent census numbers show that:

• As of 2007, women owned 7.8 million businesses in the United States.

• These women-owned firms employ 7.6 million persons

• and generate $1.2 trillion in receipts.

But what’s more important is the impact these women entrepreneurs are having on how American businesses are run. A 2010 study by the Guardian Life Small Business Research Institute showed that by 2018 women entrepreneurs will be responsible for creating between 5 million and 5.5 million new jobs nationwide. That’s more than half of the 9.7 million new jobs the Bureau of Labor Statistics expects small businesses to create, and about one-third of the total new jobs the BLS projects will be created nationwide in that time frame.

According to the Guardian study, women are most likely to start businesses because they’re unhappy with corporate life. When they become their own bosses, they are more likely than male managers or entrepreneurs to be:

• diligently engaged in strategic and tactical facets of their business

• proactively customer-focused

• likely to incorporate community and environment into their business plans

• receptive to input and guidance from internal and external advisers

• committed to creating opportunities for others

Do you know a woman entrepreneur who has a successful business, is creating jobs, is innovative, and/or is having an impact on her community? Nominate her today for our Woman Entrepreneur of the Year Awards!

Congressman George Miller Meets with Graduates

The Concord Office had a special visit yesterday by Congressman George Miller, who has represented California’s 7th District since 1975. Miller learned how Women’s Initiative plays a vital role in creating jobs and building the local economy. As the Chair of the House Education and Labor Committee, job creation is of the upmost importance to Miller, and Women’s Initiative was the right place for him to be.

With a Simple Steps course in action, Congressman Miller met with current students and later had a discussion with a number of graduates from his constituency. Each graduate shared their story on how and why they came to start their businesses, and many shared samplings of their products.

“This economy is unlike anything I’ve ever seen before and I’m older than all of you,” said Miller as he applauded the graduates for finding their own innovative solutions. When the economy does improve, he assured the graduates that they will be well positioned to take their businesses to the next level.

Women have many barriers to overcome, Miller emphasized, for starters, just to get health insurance, being a woman is often a “pre-existing condition,” and motherhood can make a traditional 9 to 5 job feel nearly impossible. Entrepreneurship can help women create a job for themselves around their hurdles.

In hopes to expand micro-entrepreneurship and Women’s Initiative’s impact nationwide, especially through federal support, CEO Julie Castro-Abrams expressed the need to partner with the Congressman. Perhaps we do have a new partner, because Miller reflected in his blog that at Women’s Initiative he “saw great examples of job creation and community building in the East Bay.”

To see pictures of the event, check out the Congressman George Miller’s blog post on the event.

By Theresa McMenomy, Microenterprise Fellow

 

How Women's Initiative is a Key Player in the Fight against the Widening Income Disparity Gap in America

 

NPR reported last week about the growing income gap in America : “While almost everyone in America thinks of themselves as middle class, income disparities are wide and getting wider. While wages stagnated for almost everybody in the middle or even went down, the rich got richer these past 30 years. Venezuela and Nicaragua now have more equitable pay than the United States. Over time, the effect of these disparities and the narrowing of the social ladder can corrode faith that life is fair and that the rules make sense.” (You can listen to the full story here.)

Women’s Initiative is working to pull up low-income earners through our unique microenterprise training program, where our graduates learn to start and maintain their own businesses. This not only results in employment for them, but contributes to the building of an important personal asset – the business itself.

Business equity ranks second to homeownership as a share of overall household wealth in this country – so building the asset of their business is an important step toward vaulting past this gap. And business ownership is an asset which can be a bridge to home ownership.

Women’s Initiative focuses exclusively on training for low income women. For these women, particularly those with barriers to traditional wage employment, home ownership is often an unattainable dream. Yet through our program, where over 70% of our training graduates have been in business for over 5 years, building business equity – as a primary asset which can be leveraged to purchase a home – will help us in closing the wealth gap once and for all.

"Women of Vision" Gala

Our 8^th Annual Gala, held at the Hilton Union Square on May 13^th was a huge success.  Approximately 600 of the Bay Area’s business leaders came out to support Women’s Initiative, celebrate our honorees and shop in the graduate marketplace. 

Lydia Beebe, corporate secretary and chief governance officer of Chevron received the Founder’s Award for her commitment to providing leadership opportunities for women.  Women’s Initiative graduates Isabella Guajardo of Gil with a Truck and Doris Shahrokhimanesh of Abe’s Blazin’ Spice BBQ received the Woman Entrepreneur on the Rise awards.

More than 20 Women’s Initiative graduates had booths in the marketplace.  Guests of the gala shopped for jewelry, hats, candles, clothes and other unique items, spending nearly $20,000 with our graduate businesses!

The Gala is our largest fundraiser of the year.  In addition to money raised through sponsorships and ticket sales, we raised more than $100,000 in donations at the event.  As the recession continues to take its toll on non-profits, the support of our generous donors is more important than ever.

Below are some photos of the event, courtesy of photographer Jennifer Baciocco.

 

 

Nancy McFadden of PG&E and Gala co-chair, presents the award to Isabella Guajardo of Girl with a Truck

 

Graduate honoree Doris Shahrokhimanesh of Abe's Blazin' Spice BBQ

 

Women's Initiative Governing Board members Rita Steel and Michele Grau-Young, Founder's Award recipient Lydia Beebe, and Women's Initiative CEO Julie Castro Abrams.
 
 
 
 

Thank you Women's Initiative Volunteers!

Women's Initiative celebrates National Volunteer Week by announcing that our volunteers logged more hours in the first quarter of 2010 than in all of 2007! Women's Initiative volunteers have given more than 5,000 hours in 2010 so far, and we're not even halfway through the year. Last month alone, our volunteers logged nearly 1,800 hours in service to the thousands of local women entrepreneurs who participate in our microenterprise training, lending, and ongoing support services. Our growing network of volunteers really speaks to the relevancy and urgency of our mission in response to this recession. Are you looking for a way to make a difference in the lives of low-income women who are working hard to transform their lives, support their families, and revitalize our local economy? Complete our online volunteer application to learn more about Women's Initiative's volunteer program, and visit our website for more details.

Nominate Your Favorite Woman Entrepreneur

Women’s Initiative for Self Employment is now accepting nominations for their Woman Entrepreneur of the Year Awards.  The awards seek to recognize women entrepreneurs in cities throughout the Bay Area who demonstrate the following:

- Have been successful despite the barriers that exist for woman business owners

- Exemplify how business ownership and leadership is beneficial for women and their families

- Have a positive impact on the local community

- Advance their business through innovation.

 

A Leadership Committee from each region will determine the Woman Entrepreneur of the Year based on information provided by the nominee.  Winners will be announced in August and honored at one of five regional award celebrations in October.  In addition, winners will be recognized in local media and featured on the Women’s Initiative website and newsletter.

To be considered for the award, an individual must indentify as a woman and be the founder or owner of a successful business.  Deadline for nominations is May 31.  Click here for more information and to nominate a woman entrepreneur.

"Women of Vision" Gala, May 13, Hilton Union Square

Join Women's Initiative on May 13th in honoring the Women of Vision who have supported our oorganization and who have launched businesses and created jobs.  The Gala includes a marketplace of graduate businesses and promises to be one of the most inspirational events you'll attend all year.  More information and tickets available here.

2009 Highlights for Women's Initiative

Last year was a year of tremendous accomplishments for Women’s Initiative.  Below are our top 10 achievements of 2009.

Reached milestone goal of serving 20,000 women

Women’s Initiative has been providing low-income women in the Bay Area with the training to start and grow their own business for more than 21 years, and we’ve significantly increased the number of women we’re able to serve in recent years.  In December 2009 we reached the milestone of having served more than 20,000 women in our 21 years! 

Opened fifth training facility and reorganized from a centralized structure to a regionalized structure

In early 2009 we opened a training facility and business incubator in San Jose, serving all of Santa Clara and San Mateo counties.  Due to the opening of our fifth training the organized moved from a centralized structure to a regionalized structure with an executive director, client service coordinators, and other staff dedicated to each region.

Expanded to serve women in more locations throughout the Bay Area

Working with community partners, Women’s Initiative began offering classes in Hayward, Richmond, Brentwood, Alameda, Redwood City, San Mateo, and San Rafael.  Women’s Initiative now provides training in 14 locations in the Bay Area.

Served a total of 3045 women in 2009

The recession meant a lower operating budget in 2009, but through the hard work of our tireless staff and a dedicated volunteer force, we were able to serve more women in 2009 than ever before.  More than 3045 women came to Women’s Initiative last year.

Graduates created 512 businesses

We estimate our graduates created or grew 512 businesses in 2009 – businesses that will help them increase their income and assets, pay taxes, improve their community, and stimulate the local economy.

Graduates created 1062 jobs

We estimate our graduates created 1062 new jobs for themselves and others directly through their businesses in 2009.  That number is more impressive when you take into account that unemployment in this country was at an all-time high in 2009.

More than 10,000 volunteer hours in 2009

Between our connector program, fellows program and onsite volunteers, we recorded nearly 11,000 volunteer hours in 2009. That’s equivalent to five fulltime employees.  Our volunteers are crucial in helping us operate within budget and connecting us to the community.  Thanks to all of you who volunteered in 2009!

Media coverage

With news segments on every network affiliate in the Bay Area, spotlights on Comcast’s Newsmakers, and major features in the San Francisco Chronicle and San Jose Merucury News – not to mention the features in regional newspapers and magazine, Women’s Initiative saw more media coverage in 2009 than ever before.  This media coverage in 2009 helped us build our brand and increase visibility. 

Woman-Owned Business Awards program

Last summer, Women’s Initiative launched the Woman-Owned Business Awards program to recognize the women business owners who are paving the way for other and making a difference in their community.  We had more than 1300 nominations and honored the 62 winners with an awards event in each of our five regions.

Fellowship program

Summer 2009 also saw the launch of our innovative new Fellows Program.  We had 13 fellows in the summer program and 8 fellows in the fall program.  Recent college graduates to seasoned professionals developed leadership skills in microenterprise development and nonprofit management while working on projects in all departments at Women’s Initiative.

Contra Costa Ribbon Cutting

We're very excited about our new Contra Costa County office in Concord. We just had our opening/ribbon-cutting ceremony last week and The Contra Costa Times wrote an article about it.

For those of you keeping count, that's our sixth official office! (The others are San Francisco, Oakland Downtown, Oakland Fruitvale, San Rafael, and San Jose.)

First Lady Visits Women's Initiative!

We had an exciting week last week. California's First Lady Maria Shriver visited our Oakland office and three client sites, including Svea Vezzone's Swarm Gallery, where we held a reception in her honor.

The visit was organized to announce Shriver's statewide initiative or invest in women entrepreneurs, called "We Invest." Shriver committed $100,000 to Women's Initiative to support 100 women's training.

The Oakland Tribune had a great article about it:

"When you give a man a loan, you help him. When you give a woman a loan, you help her children, her family and her community," said Shriver, explaining that it was in the women's nature to pass the good along.

... The event was held at SWARM Gallery on Second Street, the business of Svea Lin Vezzone, a graduate of the Women's Initiative. Before she made her appearance at the gallery, Shriver visited the businesses oftwo other graduates, Sheron Campbell, the owner of World of Braids, and Allison Barakat, the proprietor of Bakesale Betty who employs 75 workers.

Shriver, dismissing the many praises being showered upon her when she took the stage, reminded her audience that she had never started a business as they had.

"I'm completely in awe of you," she said.

The Women's Conference is an annual event launched by the governor that unites 60 world leaders with 14,000 women in one arena to share stories of success and life lessons.

... The launch of WE Invest was announced at the Women's Conference in October. Shriver said she picked Oakland for the launch venue "because I've wanted to do something in Oakland. I wanted to start in a place that really needed it."

We're not sure what to be more excited about: the money (which will help us help 100 more women with trainings and loans), the publicity (which will help bring in both support and new clients), or getting to meet the first lady!