9 minute read
Support a woman entrepreneur
Dr. Chris Allen
Recent surveys of women's entrepreneurship in the United States have shown that women-owned businesses are one of the fastest-growing segments of our economy. Although woman entrepreneurs are good for the economy, we also know that women, especially women of color, face more barriers than business owners in general when starting and growing their businesses. In fact, the COVID-19 pandemic has affected women-owned businesses more negatively than businesses generally, which is true not only in the United States but worldwide.
The demands on women entrepreneurs have been greater, given prolonged and constantly changing school closures, childcare issues, and senior care challenges during the pandemic. Women are still more likely to be in primary caregiving roles and thus, juggling more responsibilities at home and work, especially if they are full- or part-time business owners. Also, women-owned businesses typically have fewer cash reserves and access to financing. Thus, they are more vulnerable in times of crisis.
The benefits and challenges of being a woman entrepreneur are deeply personal to me. Over the past 15 years, I have transitioned my own business. For many years, I was a psychologist/therapist who helped individuals improve their lives and cope better. Working in mental health was a noble and satisfying profession. However, I dreamed of using my skills to have a broader impact on society. So, over several years, I worked to develop my business as a workplace psychologist/coach. As such, I now work with leaders, teams, and organizations to better meet the needs of all their stakeholders: their employees, leaders, teams, shareholders, customers, and the wider community. This opportunity for a broader impact has been immensely fulfilling.
However, as someone who received NO business training (somehow graduate schools don't think that psychologists, social workers, and similar professionals are indeed business owners in need of business skills!), I was terrified about some aspects of business and lacked confidence in myself as a business owner. I needed help and support as I retooled my professional goals and grew a new business.
Fortunately, here in Central New York, I discovered many resources and supports for my business through local business organizations and companies that support women entrepreneurs. These include Syracuse Woman Magazine, the WISE Women's Business Center, the Women's Business Opportunities Connection (WBOC), and many others. This issue features some of these organizations.
During the past 10-plus years and through these community resources, I have developed terrific partnerships with other women in business who have become vendors, suppliers, contractors, and clients. I have hired and partnered with women to help me with website design, photography, graphic design, promotional materials, insurance, email marketing, government contracting, legal matters, business development, and more.
While my business has grown financially during this time and in its reputation and brand, what has been most rewarding are the friendships I have developed with so many women of diverse backgrounds. Through these relationships, I have gained the support, knowledge, and confidence I need to succeed as a business owner.
So whether you are a "sidepreneur" (someone starting a business on the side of other work), a "solopreneur" or "mompreneur," someone considering starting a business, someone in business for years, or a business owner who employs others, the Central New York community has a lot of help to offer YOU!
While women have had a positive impact on the local and national economy over the past two decades, there is still work to be done to help women in business. Barriers for women remain in terms of adequate financing, sufficient time to devote to the business, and sufficient skills and knowledge. And to be clear, successful entrepreneurship for women benefits everyone, not just women. For example, more goods and services that are bought and sold helps our economy. In addition, successful companies can pay their employees more and support families.
So I encourage you to: attend WISE and WBOC events virtually or in person; hire women entrepreneurs when possible to revamp your website, develop your business marketing materials, deliver programming, or coach your employees; buy products when possible from local, women-owned businesses. Be a woman entrepreneur! Support a woman entrepreneur! SWM Dr. Chris Allen is the president/owner of Insight Business Works, Inc.
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Andrea Reeves
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Dr. Chris Allen Tara Benson Iris Buckowski Ashley Casey Briana Goodwin Kate Hill Jason Klaiber Lorna Oppedisano Eric Rose Ken Sturtz
Cover photo by Alice G. Patterson
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Thinking of starting a business? HERE ARE SOME RESOURCES FOR WOMEN ENTREPRENEURS
Ken Sturtz
So, you want to start a business? Seems simple enough, but in reality, entrepreneurship can be a confusing, stressful process, especially if you don’t know where to turn for help.
Women entrepreneurs start and own nearly half of all businesses in the U.S., employing more than 9 million workers. And women remain the fastest-growing entrepreneurial segment in the nation. If you’re considering starting a business, here are organizations that can help you jumpstart things.
WISE Women’s Business Center
Partially funded by the U.S. Small Business Administration and hosted by the Whitman School of Management at Syracuse University, the center offers training programs as well as business counseling for entrepreneurs.
The center offers a variety of training, most of which are provided free of charge. “Building Blocks for Business,” a one-hour introduction class, is offered twice a month. “WISE Power Hour” is offered several times a month and changes topics based on client needs. The roundtable-style sessions emphasize participation and networking. In addition to other training, the center offers a seven-week course for those creating a business plan.
Clients can receive free one-on-one business counseling as needed to help them achieve their long-term goals. Free advising calls are also available for clients with technical questions or who aren’t sure where to start at the center.
U.S. Small Business Administration (SBA)
“There’s definitely no shortage of resources for women entrepreneurs,” says Katrina Ballard, an outreach and marketing specialist for SBA who focuses on women business ownership. “But it can be difficult to know where to start.”
The WISE Women’s Business Center, which SBA supports and works closely with, is a great starting point for women thinking about starting a business.
Another great resource is Ascent Learning, a free online platform offered through SBA for women entrepreneurs looking to grow or improve their business. The platform is a good tool for people who can’t take a class in-person or who want to learn the basics. Topics covered include disaster and economic recovery, strategic marketing, financial strategy and access to capital. It recently expanded to include a section focused on educating women business owners about venturing into government contracting to help expand their businesses.
SBA also operates a women-owned business federal contracting program. The purpose of this is to help women navigate the process of competing for federal contracts, which can be lucrative since the government has a 5 percent contracting goal for women-owned small businesses.
Women-owned small businesses can also participate in SBA loan programs. Contact the local SBA office for details.
Women Business Opportunities Connection (WBOC)
The nonprofit is committed to advancing the success of women in business. It accomplishes this primarily through educational programming, networking opportunities and kinship among women entrepreneurs.
Members include people thinking about starting a business as well as recent entrepreneurs and women who’ve been in business for years, says Amy Doyle, the group’s president.
WBOC hosts monthly educational programs which attract upwards of 50 women and are open to members, their guests and nonmembers. The events also include a chance to socialize and network. Events for members include a monthly coffee break and occasional happy hours. The smaller, more intimate get-togethers provide a perfect opportunity for women to build personal and professional relationships and connect with other women entrepreneurs.
“One of the things that’s really inspiring to see is the connections women build when they get involved in the organization,” Doyle says. Onondaga Small Business Development Center (SBDC)
Though not specifically for women, the SBDC, which has offices at several locations including Onondaga Community College, is another resource to consider. Business advisors can provide personalized, industry-specific support whether you’re looking to start a business for the first time or expand your existing business. Clients can receive information from the SBDC Research Network to help them identify competitors, learn about marketing trends in their industry and find out about consumer spending habits. Network resources include lists of suppliers and competitors in specific markets, demographic data, tables and maps outlining consumer spending habits in various industries, and industry profiles.
SBDC can also help business owners determine if they qualify as a minority or women-owned business enterprise and, if they do, assist them in becoming certified. The state requires 30 percent of projects be done by certified minority or women-owned businesses.
South Side Innovation Center
The center is a community-based microenterprise incubator run by the Whitman School of Management at Syracuse University. It’s open to small business entrepreneurs committed to business development on Syracuse’s South Side.
The center provides office space and equipment to encourage the creation of new businesses and help existing businesses grow. It also hosts training programs, provides advice on business plans and offers access to mentors and professional contacts.
A unique resource at the center is the Syracuse Commercial Test Kitchen. The kitchen helps new and existing entrepreneurs with training and guidance to commercialize their original home recipes. The center offers training in developing recipes into full scale-up production formulas as well as marketing and market research, sales, distribution and FDA requirements. SWM
