This recent piece in Inc. shares three tips for overcoming some of the biggest challenges women of color face in entrepreneurship. These tips include the importance of getting your finances in order so you can establish good credit, looking after your mental health and developing a success-oriented mindset. Check out the link to read the full piece.
Beth Ford was appointed CEO of Land O’ Lakes in 2018. Her appointment marked the first time a woman had led Land O’Lakes in its 101-year history, and Ford also became the first openly gay woman to become a Fortune 500 CEO. She credits her mother with some of the best career advice she ever received – that being “If you want something, you should ask for it.” Ford carried that lesson into her personal and professional life as she has made a priority of speaking up for herself. To read more about her experiences, read this article from CNBC.
Studies have found that women tend to have less financial literacy than men. Given the number of resources available, this statistic can truly become a thing of the past. This article in GO Banking Rates highlights advice from female money experts and is worth scrolling through even if you think your finances are in great shape.
One expert shared that all women need to have control of “the big three” – being consumer debt free (no credit cards or auto loans); having an emergency reserve fund; and be contributing to a retirement plan. Other experts share advice including the importance of paying yourself first, having a handle on your cash flow and max-ing out any savings plans with tax advantages. The best piece of advice though is that there are no more excuses. Use the resources you can find and take the time and make sure your financial literacy is strong!
This article featured in Fast Company highlights the five lessons from Alan Henry’s new book, Seen, Heard, and Paid: The New Work Rules for the Marginalized. His book is intended as a guide for employees who find themselves often marginalized – including people of color, women, and those in the LGBTQ+ community. It is also a great read for leaders who want to make sure that their companies and teams are serving all employees well. Some suggestions from the book include: learning to collaborate, leveraging remote work options to work best for you, acknowledging when it is time to leave toxic work environments that aren’t likely to change, and making sure to have a solid work-life balance as well as time for reflection.
In recognition of her contributions to the fashion industry, Mattel has announced its latest Barbie honoree as Vera Wang. The daughter of Chinese immigrants, Wang first became one of the youngest editors at Vogue and then became the design director for accessories at Ralph Lauren before finally becoming an entrepreneur when she opened her own boutique in 1990. How wonderful that Barbie can reflect trailblazing entrepreneurs in women’s fashion! Read more about the story in WWD.
We made a post about this back in January 2022, but here is an update – we find a lot of regional and local grant opportunities being offered to small business owners as funding from the American Rescue Plan Act continues to trickle down to state and local levels.
We keep this spreadsheet updated daily with new opportunities that we find.
Unconventional times can create impactful change. Syrian women have begun to be elected as camp leaders in their Lebanese refugee communities. While these women would have been expected to stay at home in their native Syria, the turmoil caused by war has begun to shift some of these traditional norms. One of the female leaders who heads up camp of hundreds of refugees, Hind Al-Haad, stated,”Circumstances can either form obstacles or push [women] forward.” Learn more about these amazing women in this BBC piece.
According to this piece from The Guardian, there has been a marked increase in black women launching their own ventures over the past few years. Some of the increase is attributed to challenges from the pandemic and some to historical gender/race pay disparity in the workplace. That said, the article also shares that black women have a long history of entrepreneurship and the pandemic is forcing the world to recognize that. Per the article, “women of color make up only 39% of women in the US but represent 89% of new women-owned businesses. Within that demographic, Black women are leading the charge at 42% of new women-owned businesses, followed by Latina women at 31%.”
The Legal module in the Women’s Entrepreneurship Certificate program provides a host of downloadable resources and tools for entrepreneurs but in that limited two-week course, there are many more nuanced legal items that couldn’t be covered. This list of free resources – offered through the small, woman-owned legal firm of Trellis Legal provides a fabulous assortment of tools at no cost.
We are noticing a lot of regional and local grant opportunities being offered to small business owners as funding from the American Rescue Plan Act trickles down from the federal to state to local levels for distribution.
We will keep this spreadsheet updated with new opportunities that we find. Check back each day and see if one will work for you!
https://docs.google.com/spreadsheets/d/1zU5SUCYBopz64FM4q_nqp2wvILmcdItq_PRWQRXFUB4/edit?usp=sharing