HOT TOPICS
Obama‘s programs are promising for small business, but are they enough?
 Obama‘s programs are promising for small business, but are they enough? While we are thrilled that the Obama administration has recognized the incredible impact small and micro businesses have on job creation and is taking steps to support these entrepreneurs, we feel it‘s not enough and worry that these actions won‘t have the impact Obama intends. By focusing on funding, these policies ignore a crucial element in business success–small business training. Statistics show that more than 50 percent of small businesses fail within the first five years.
However, more than 70 percent of the women who go through the Women‘s Initiative small business training program are still in business. Getting the fundamental training on starting a small business and continuing mentoring and support is crucial to business success.
And while TARP funding is a good idea in theory, many community banks are leery of TARP funds attached to onerous conditions, and others view taking TARP funds as a sign of weakness. By channeling TARP funds through capable nonprofit community lenders, the funds will reach the Main Street businesses needing loans to grow their businesses.
The CDFI Fund, under Treasury, has already proved itself an efficient and swift conduit for millions of stimulus funds to our communities. And, by channeling funds through CDFIs, (Women‘s Initiative is an approved CDFI lender) new business owners who may have a poor credit history and unable to access funding through traditional banking institutions, will be able to access these funds.
In addition, tax credits will not help businesses whose profits have evaporated. Neither do they provide an incentive to a business that is struggling in the current economy to add on another permanent employee.
Funding should go to the network of small and micro business development organizations, Women‘s Business Centers and local Chambers of Commerce throughout the US, to ramp up management assistance and coaching to help small businesses stabilize and grow. If just 10% of the 24 million very small businesses added one employee, it would create 2.4 million new jobs — more than the total jobs the Administration claims it has saved since the $787 billion in economic stimulus went into effect.
Those of you who have supported Women‘s Initiative over the years know that micro and small business development organizations have proven effective in helping small businesses start, grow and create jobs. The Obama Administration should utilize this community based infrastructure to fulfill its mission to get us out of the Great Recession through small business development and by tapping into our entrepreneurial tradition.
International Women‘s Day 2010
March 8th is the 99th annual International Women‘s Day, a global day celebrating the economic, political and social achievements of women past, present and future. Annually on 8 March, thousands of events are held throughout the world to inspire women and celebrate achievements. A global web of rich and diverse local activity connects women from all around the world ranging from political rallies, business conferences, government activities and networking events through to local women‘s craft markets, theatric performances, fashion parades and more.
We encourage you to celebrate International Women‘s Day the Women‘s Initiative way — by supporting the women business owners who are creating vibrant communities and strong economies. To find the Women‘s Initiative graduates operation businesses in your area, go to the Orange Pages, our online directory.
The Women‘s Initiative Women of Vision Gala will be held May 13th at the San Francisco Hilton Union Square.
Join the Bay Area‘s most powerful women in business at our Gala, one of the most inspirational events you will attend all year. Lydia Beebe of Chevron will receive the Founders‘ Award. Chairing this event are Dara Bazzano, KPMG; Nancy McFadden, PG&E; and Loretta Walker, AT&T. Honorary Chairs, Janet Lamkin, Bank of America; Mary Huss, San Francisco Business Times; and Jennifer Siebel Newsom are all working to make this night spectacular.
The evening will highlight the achievements of our graduates while raising much-needed funds to support our work. The members of the Gala Leadership Council will ensure the financial success of this elegant evening. Our goal is to raise $650,000 in cash plus in-kind donations to support more women entrepreneurs in 2010.
If you are interested in sponsorship opportunities or becoming part of the Gala Leadership Council, please contact Madhuri Kirkham at mkirkham@womensinitiative.org, 510-287-3107.
Woman Entrepreneur of the Year Awards
 Women‘s Initiative believes in the power of women entrepreneurs to make a difference in their families, the economy and our communities.
In 2009, Women‘s Initiative launched the awards to recognize the powerful role women entrepreneurs play in developing our communities and the local economy, as well as to highlight women who are valuable role models and mentors to Women‘s Initiative graduates.
In the Fall of 2009, Women‘s Initiative recognized more than 50 woman business owners from cities throughout the Bay Area at events in San Francisco, Oakland, Alamo, Mountain View and San Rafael, as well as on its website, in press releases and promotional materials and in advertisements in the San Francisco Business Times and San Jose Business Journal.
In 2010, the Woman Entrepreneur of the Year Award will recognize a woman entrepreneur from each major city throughout the Bay Area who demonstrates the following:
- How business ownership and leadership is beneficial for women and their families
- Has a positive impact on local community or the community at large
- Advances their field through innovation
- Has been successful despite the barriers that exist for women business owners
We invite you to join the Women‘s Initiative nomination committee. Be a part of the leadership that promotes and partakes in final decision-making for our Woman Entrepreneur of the Year Awards. Each city in the Bay Area has its own nomination committee to appoint their city‘s most beloved Woman Entrepreneur.
For more information contact Madhuri Kirkham at mkirkham@womensinitiative.org, 510-287-3107.
Small Business Survey
Each year, Small Business California surveys small business owners throughout California and sends the results to the Governor and every legislator in California. The survey results have an impact on policy discussions over the next year. If you are a small business owner in California, we encourage you to take the survey to make sure your voice is heard in Sacramento.
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UPCOMING EVENTS
Women‘s Initiative hosts Connect Events to connect successful entrepreneurs and business professionals like yourself with women‘s Initiative graduates, who are eager to meet and learn from you! We invite you to help our clients improve their networking skills, share your experience and knowledge and respond to clients‘ ideas and issues in group networking sessions. Upcoming Connect events include:
February 25, Connect Event in San Francisco
6:30–8:30 pm, Pacific National Bank, 300 Montgomery St.
Keynote speaker Denise Hughes, holistic financial consultant, shares the 5 key qualities for success that she has identified over her career and through recent interviews with successful businesswomen across the country.
For more information and to become a connector, contact Emma Maack at emaack@womensinitiative.org
April 6, Access to Markets Connect Event in Silicon Valley
For more information and to become a connector, contact Diana Garcia at dgarcia@womensinitiative.org
MOVERS AND SHAKERS
Graduate Gina Lovo
and her personal training business were featured in the San Francisco Chronicle. Check out the article here.
Thanks for empowering women!
Silicon Valley business leader Pam Flournoy has found a creative way to help empower women to become financially self-sufficient AND support Women‘s Initiative at the same time.
Being widowed in 2000 with two young children and then starting her own business in financial planning and investing for individuals, Pam knows how difficult it is to be a single mom and self employed. She also knows that one way she can contribute to the financial well being of women is to help educate them about their financial lives. Because she had a financial plan in place and was wise about investment decisions, Pam was able to begin her entry into the financial planning and investing world shortly after her husband‘s death. Pam completed her certification in financial planning at UC Santa Cruz and passed the 10-hour exam to become a Certified Financial Planner™. Like many of the women in the Women‘s Initiative for Self-Employment program, Pam pursued her dreams of business ownership while working full time and raising two children on her own.
As part of her desire to help women understand f their own financial lives, she licensed workshop called 7 Steps to Financial Mastery: Becoming Your Own Prince Charming” by Barbara Stanny. The workshops are held the first Tuesday morning and evening of every month.
The attendance fee is a $30 donation to Women‘s Initiative for Self-Employment.
Pam‘s investment and financial planning practice, simply called Pam Flournoy, CFP®, is based in the Willow Glen community of San Jose. She is a registered representative of LPL Financial. Member FINRA/SIPC.
Thank you Pam for being an inspiring leader and for your support!
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CLIENT SPOTLIGHT
Connie Rivera
 Connie Rivera opened her San Francisco shop, Mixcoatl, after graduating from the Women‘s Initiative business training program in 2005. She came to the U.S. 24 years ago, from Toluca Mexico in search of a better life for herself and her family. Arriving with a high school education in hand, she worked her way through a series of jobs in the U.S as a babysitter, coffee shop worker, and then housekeeper for 15 years. However, she always knew she wanted, and was capable, of more.
Influenced and inspired by her grandparents who were artisans and merchants in Mexico, she began very gradually bringing art and jewelry from her hometown, selling little by little informally among friends. In 2005, Connie heard about Women‘s Initiative business training program and could hardly believe it. “Wow, this is exactly what I need and have been looking for” she said.
Connie reports that her life changed after graduation from Women‘s Initiative. The program taught her how to run a business in a formal way, how to write a business plan, where to get permits, and more. “They gave me everything – the tools to start. This was my school,” says Connie. The summer of 2005, two months after graduation, Mixcoatl opened its doors to the public and Connie has not looked back since.
Connie and her Mission District shop are focused on preserving and sharing art from indigenous people of the Americas with other cultures. Everything in her store is handmade: jewelry, art, masks, and clothing made by Mayans, Aztecs, Incas, and Native Americans, to name just a few. She tells us that her small business is not just about making money. What is most important to her is to share the beautiful handmade art – to support the artisans and keep the traditions alive.
Outside of the store, Connie is a very busy lady with a big heart. She is full of ideas and determination to keep cultural traditions alive in her community. Her passion is traditional Aztec dance, which she does with her family. She‘s taught free Aztec dance classes for youth and families for many years at Mission Cultural Center and Mission Recreation Center. Through dance, there is a sense of unity that brings families together. Connie also makes sure they take dance to the streets, where the dancers are received by many excited onlookers who gave them energy and inspiration to keep coming back. These events are a great time to meet new people, bring the community closer, and spread the word about free dance classes.
After being invited to dance at the 24th Street BART station two years ago, Connie was so inspired during the session and through talking with others, she had a vision, worked to make it a reality, and today we can all enjoy the results; a new street market. As you exit the subway station at sidewalk level, or walk past 24th Street BART station, you will be greeted with music, vendors selling their wares, and lively chatter. This market is a wonderful addition to the neighborhood and continues to bring ideas and people together.
Connie‘s list of community activities and involvement is impressive. In addition to teaching dance and organizing a community street market, she recently started a small business association for the 24th street neighborhood. She began with three people and has since grown the association to 20 members representing the Mission District.
The association promotes small businesses, supports local merchants, and aims to improve quality of their life in the neighborhood through art, events, and activities that all help to reduce crime and change the face of the neighborhood.Connie does not hesitate to get involved. She is happy to bring her knowledge and culture to any person or organization that asks, feeling a sense of responsibility to the community to keep young people off the streets and preserve cultural traditions. So it will not come as a surprise that she collaborates with the San Francisco Symphony, City Hall, the Mexican Consulate, Native American Pow Wows, and is a key organizer for events such as Carnival, Day of the Dead, Aztec dance Ceremonies, Cinco De Mayo, and Mexican Independence Day.
At these events, she coordinates performances, music, artist demonstrations, workshops, and other educational activities to share with the community and other cultures. Bring artists to do demonstrations for the community, workshops, and share with other cultures.
Connie is very humble about her achievements, but there is no denying that she serves as an amazing role model for her daughter and family, as well as her community. It is not uncommon for women in the neighborhood to drop by Mixcoatl, hoping to get a glimpse of Connie in action, and perhaps some tips or a little pep talk on moving past your fears.
Connie is more than happy to oblige and encourages others to help her out for a day at the store, so they too can become confident and realize their own potential to run a small business.
The biggest challenge for Connie is that occasional voice inside her head that pops up and asks“what are you doing – this is so much responsibility!” But to this voice she quickly responds by taking a deep breath, seeking the love and support of her family, and taking a an hour or two away from the sto
The rewards of owning a business are great, allowing her to spend time with her family at the store and at home, and to set a good example for her daughter.
Connie also now enjoys a more steady income and is happy to be her own boss (and the boss of her husband!). Feeling shy after this joke, Connie is quick to say that without the support of her husband she could not be where she is today– and she is grateful that he always pushes her to reach her full potential
As for other women with a dream of one day owning a small business, Connie says: “If I can do it, you can do it. My advice is to go to school, Women‘s Initiative, or seek help to realize your dream. Do not be afraid to be an independent woman. My own experience shows that it is not impossible.”
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VOLUNTEER SPOTLIGHT
Annika Stimman
Born and raised in Lima, Peru, Annika came to Women‘s Initiative in 2009, after getting married and moving to join her husband in the U.S.
Annika heard about Women‘s Initiative through a friend, and began volunteering at the San Jose office – helping with client outreach, information tracking, and client presentations.
After four months of dedicated volunteering, we are excited to say that Annika recently joined the San Jose staff as an interim client services coordinator.
Coming from South America, Annika says she can relate to the challenges women face in becoming financially independent and wants to help them start businesses and see them realize their dreams. She finds that her clients are appreciative and is rewarded in knowing that her work has such a positive impact on others.
Prior to arriving in California, Annika lived in Bogota, Columbia, where she earned a Bachelors degree in Hospitality Management and worked as a travel agent for Lufthansa airline.
Last year, Annika completed her Certificate in Business Administration at UC Davis. Outside of Women‘s Initiative, she is busy exploring the Bay Area and settling into her new home.
Get involved!
By contributing time and resources to women‘s Initiative you can feel good about supporting women entrepreneurs. It is a win-win opportunity for you, our team and clients – don‘t be surprised when you walk away bubbling with inspiration. Stay involved with women‘s Initiative throughout the year through one of these and many more opportunities.
Click here to see a full list of volunteer opportunities. You may want to volunteer yourself, or may know of others in your workplace or in your circle of friends that would enjoy helping us provide high quality, innovative services.
To learn more about these opportunities, please contact our volunteer coordinator, Elizabeth Russell, at vcoord@womensinitiative.org
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