As the Maryland Women's Business Center (MWBC) celebrates our
five-year anniversary, we are excited to share with our stakeholders
and friends updates on all of our past achievements, initiatives, and
current goals.
Statistics indicate that women entrepreneurs start businesses at more
past year alone, women have opened 500,000 net new businesses
and
that women-owned firms now represent 30 percent of all firms.
However, this impressive milestone is not matched with job
generating
enterprises.
Additional research from an Aspen Institute study shows that African Americans and Latinos frequently encounter barriers that limit business ownership and growth, including lower levels of financing, lower levels of education and business experience, and lack of market access. These studies indicate that not only being a woman, but being a minority woman has a host of challenges that impede business success.
Therefore, our goal is to ensure we provide the best services to women entrepreneurs and help more than 1,500 women per year to explore, start and/or expand women-owned enterprises positioned for long-term growth in our community. We expect these women to create 50 new businesses and support 75 new jobs, access at least $100,000 in capital, generate $25 million in gross revenues ($62,500 in gross revenue per business), and increase their profits by 10% or $2.5 million with our help.
However, none of this can be achieved without the support of our staff, funders, volunteers, and resource partners. During our five-year anniversary kick-off breakfast on November 5th, I mentioned that we have a fundraising goal to raise $100,000 by October 2016. As we ask for your pledge to "Step Up for Women Entrepreneurs," I am confident that we will reach, or even exceed that goal, providing us with the crucial funding we need to maintain operations, expand our geographic reach, and diversify our program offerings. Step up today in showing your commitment to women entrepreneurs.
Cheers to success!
Kiesha
