Richmond, Ind. – Professional Development and growth opportunities for members of the Wayne County workforce remain a top focus for the Wayne County Area Chamber of Commerce. This is evident in their latest announcement showcasing a partnership with the Shafer Leadership Academy.
A new educational offering called “Next Level” will bring experts to Wayne County to facilitate interactive workshops on various topics, such as leading multi-generational teams and discovering the power of introverts. In addition, Chamber members will be able to attend virtual workshops such as Creating Extraordinary Moments and Fostering a Welcoming Workplace. “We know that when our businesses invest in their people, performance improves and loyalty strengthens,” said Chamber President/CEO Melissa Vance. “This added member benefit could be one of the best we have added in recent years.” The Chamber has demonstrated leadership in workforce education through its annual Chamber Business Summit in partnership with Indiana University East. This will be the third year of bringing in keynote speakers and utilizing local experts to lead breakout sessions. This year’s Summit will be held on October 13. Registration will open on August 28. HYPE Wayne County (Helping Young Professionals Engage), a committee of the Chamber, holds several learning and social opportunities throughout the year. They are now accepting applications for their program, WC Leads, a cohort of young professionals honing skills such as leading a team, project management, emotional intelligence, and excellence in communication. The program kicks off at the Chamber Business Summit in October and meets on periodic half-days in the following months. Those completing the program will be recognized at the Chamber Annual Dinner in January. A Harvard Business Review article states, “The evidence suggests…: We could improve productivity if we stopped systematically underinvesting in human capital…. Beyond wages, other forms of investment in human capital include education and training, improved healthcare, and other, less obvious investments, such as the time and space to explore new ideas and professional development opportunities.” Roy Ferman of Forbes Finance Council sums it up, “Organizations that maintain a high-development culture are more likely to have engaged employees. Plain and simple.” To learn more about the Chamber’s educational offerings or how to further engage your team, visit WCAreaChamber.org.
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Wayne County Area Chamber of Commerce statement -
“The Chamber recognizes the strong need for quality healthcare in Wayne County. We realize in a demanding and ever-changing market, organizations are adjusting their models to remain strong and viable long-term. We plan to continue gathering information, convene important conversations, and proactively work with our local health care providers, such as Reid, to help ensure our community has the health services it needs to thrive in the coming years.” Reid Health Press Release - Reid Health undergoes restructuring to bring down costs July 11, 2023 Faced with an increasing gap between rising expenses and reduced reimbursement rates from insurance providers -- in particular Medicare Advantage and Medicaid -- Reid Health is taking steps to reduce costs and streamline efficiencies. Recently, healthcare systems across the country have been battling a widening imbalance between rising costs related to inflation and reimbursements that haven't kept up with those costs, resulting in major financial issues unlike any Reid has dealt with in the past. The factors at play include:
Adding to the burden is the fact that insurance companies are slow to reimburse for patients with commercial insurance after care has been delivered. In many cases, claims are even outright denied despite having prior authorization. "Healthcare organizations across the state and nation are making difficult decisions to stay afloat in this challenging environment," said Brian Tabor, President of the Indiana Hospital Association. "I'm concerned we may see more reductions in hospital services over the coming months as Medicare and Medicaid payments continue to fall further below the cost of delivering care, exacerbating the fragile state of hospital finances. "We need Congress to reject proposals that would impose Medicare cuts and urge the State of Indiana to provide short-term Medicaid relief to avoid this trend continuing across the state." The Reid Health Governing Board has been working with a consultant to identify opportunities to streamline organizational operations, reduce costs, and improve efficiencies. Over the past few weeks, Reid has taken steps to reduce duplication and costs within its executive leadership and middle management teams. Doing so allows Reid to streamline reporting structures and identify efficiencies for cost savings. As a result, some roles are being eliminated. Affected employees have the opportunity to apply for other open positions for which they're qualified, and some have chosen to stay with Reid. In addition, Reid will close the Reid Employee Wellness, Sports Performance, and Massage Therapy departments along with the HealthWorks Fitness Center in Connersville. HealthWorks will close on July 31. The same factors affecting Reid's finances are impacting other health systems across the country, including here in Indiana. For example, Ascension St. Vincent recently closed a hospital in Bedford as well as 11 primary care and other centers across Central Indiana. "These are the kinds of tough conversations families have around the kitchen table during hard times," Kinyon said. "When your income is reduced while your expenses increase, changes must occur. That's the situation we're in today. "This process to better align our costs and resources will ensure we can continue to provide exceptional care for those we serve. We remain committed to our mission to lead our communities to well-being, one person at a time." Date: July 6, 2023
Contact: Robin Henry Assistant Vice President of Human Resources Phone: 765.598.5009 Email: rhenry@trfcu.org For Immediate Release 3Rivers Federal Credit Union, one of the top performing credit unions in the state of Indiana, announces the addition of 10 Member Service positions in their Richmond, Indiana based Call Center. This expansion represents 3Rivers commitment, dedication and investment in Wayne and Union Counties to provide rewarding employment opportunities while delivering exceptional member service to 3Rivers members and the community. 3Rivers Credit Union has consistently received national award recognition for workplace excellence, and is known as an employer of choice in the region. 3Rivers seeks team members who thrive in a fast paced environment, are motivated by growth, innovation, and a culture rooted in community giveback. 3Rivers offers generous benefits and compensation plans to reward continuous performance and personal growth. The minimum starting wage is $15.75. Pay is commensurate with experience. Benefits Include: - Ongoing training and career advancement opportunities - Comprehensive health, dental, and vision insurance plans - 401(k) plan with generous matching contributions - Paid vacation, sick, and float time. Including 9 paid federal holidays. - Paid volunteer time to give back to the community - Employee assistance program for personal support Joining 3Rivers means becoming part of a dynamic and inclusive work environment where contributions are valued, rewarded, and make positive impacts in the lives of our team members, members, and community. For more details on benefits and to apply for one of the 10 Contact Center positions or any other open position, please visit www.3riversfcu.org/careers and submit your application online. Experience in the financial industry is not required. Qualified individuals are passionate about learning, growth and helping others. By Miriam Gridley, Chamber Intern
You have probably seen advertising signs at McDonald’s. Or, perhaps felt a soft touch, matte-covered book. Surprisingly, these are just some of the products made locally by Transcendia. In addition, they also make lamination films for packets used for sterile, surgical instruments. The special film that covers the holograph in passports for India and Pakistan is also provided by Transcendia. They serve many different markets. In fact, there are twenty plants across the world: seventeen for manufacturing, and three for distribution. The Transcendia plant, located in Richmond, was established in 1931. In fact, it was one of the first film converters and distributors. Their focus was food packaging wraps, but during the 60’s, and 70’s there were shortages in those areas. So, they got into extrusion. In the 80’s they started investing in the sheet extrusion market. By the 90’s they bought a liquid coating line, which is the soft touch, matte feel on books. In 2010 Jordan Group purchased Transcendia Transal Wrap, then it was sold again in 2017 to Golden Sacks. Finally, it has grown into what it is today, Transcendia. Cody Cohoon, site manager, is very organized and thoroughly enjoys what he does. He has been with Transcendia for quite some time working as an operations manager, production manager, and supervisor. With valuable experience, he knows the importance of teamwork. In total, there are one hundred and twenty-nine people employed at Transcendia. Fifty have been there for ten years. One of Cody’s favorite things about Transcendia is the people. He is very personable with all the employees, knowing every person by name. Cody has worked hard to transform the culture and has created a positive environment. Cody does many things for the benefit of his employees, including a monthly giveaway for perfect attendance and organizing events for his employees and their families. Cody grew up in Ohio and currently lives in Tip City, Ohio. Although he lives and was raised in the North, his heart is in the South where he was born, and where all his family resides. He married his high school sweetheart, Samantha, and they have two children together, Kingsley and Keegan. He says that the coolest thing in his life is being called Dad. Before coming to Transcendia, he owned his own concrete business. Professionally, Cody has a strategic plan that will benefit Transcendia. He wants to reinvest in Richmond, add to their current site, add a packaging leader, and add new technology. He has a goal to give his employees sixteen paid hours a year to volunteer in the community. Cody chose to be a part of the Chamber because he wants to invest in the people and invest in this great community. He is eager for Transcendia to evolve, learn, and grow as a business through being a Chamber member. Also, it gives his employees opportunities to get outside of work and involved in the community. Cody’s favorite thing about the Chamber, so far, is the overall number of events and community involvement. The Richmond Transcendia Plant is located at 300 Industrial Pkwy. Entrepreneur Of The Year celebrates ambitious entrepreneurs who are building a better world
Middletown, Ohio, Wednesday, June 14 – Ernst & Young LLP (EY US) today announced that CEO Angela Phillips of Phillips Tube Group, Inc., was named an Entrepreneur Of The Year® 2023 East Central Award winner. The Entrepreneur Of The Year Awards program is one of the preeminent competitive awards for entrepreneurs and leaders of high-growth companies. Angela was selected by an independent judging panel made up of previous award winners, leading CEOs, investors and other regional business leaders. The candidates were evaluated based on their demonstration of building long-term value through entrepreneurial spirit, purpose, growth and impact, among other core contributions and attributes. “This recognition is the honor of a lifetime,” Angela Philips said. “I’m so proud and credit my entire team for the success of Phillips Tube Group. This is about all of us.” Phillips Tube Group, Inc., is a woman-owned business that produces steel tube for the appliance, automotive, HVAC, construction and recreational vehicle industries. A great American success story, Phillips Tube Group has been the embodiment of local growth, entrepreneurial spirit and community development throughout the Ohio region for decades. With plants in Middletown (OH), Shelby (OH) and Richmond (IN), Phillips Tube Group products are found in automobiles, furnaces, dishwashers, recreational vehicles, appliances and more. For nearly four decades, EY US has honored entrepreneurs whose ambition, courage and ingenuity have driven their companies’ success, transformed their industries and made a positive impact on their communities. Entrepreneur Of The Year Award winners become lifetime members of a global, multi-industry community of entrepreneurs, with exclusive, ongoing access to the experience, insight and wisdom of program alumni and other ecosystem members in over 60 countries — all supported by vast EY resources. Since 1986, the Entrepreneur Of The Year program has recognized more than 11,000 US executives. As an East Central award winner, Angela is now eligible for consideration for the Entrepreneur Of The Year 2023 National Awards. The National Award winners including the Entrepreneur Of The Year National Overall Award winner will be announced in November at the Strategic Growth Forum®, one of the nation’s most prestigious gatherings of high-growth, market-leading companies. The Entrepreneur Of The Year National Overall Award winner will then move on to compete for the World Entrepreneur Of The Year® Award in June 2024. The Entrepreneur Of The Year program has honored the inspirational leadership of entrepreneurs such as: Andreas Bechtolsheim and Jayshree Ullal of Arista Networks Daymond John of FUBU Hamdi Ulukaya of Chobani, Inc. Holly Thaggard and Amanda Baldwin of Supergoop! Howard Schultz of Starbucks Coffee Company James Park of Fitbit Jodi Berg of Vitamix Joe DeSimone of Carbon, Inc. Kendra Scott of Kendra Scott LLC Reid Hoffman and Jeff Weiner of LinkedIn Corporation Sheila Mikhail of AskBio Sponsors Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards include presenting sponsors PNC Bank, N.A.; SAP America; and the Kauffman Foundation. In East Central, sponsors also include Valuation Research Corporation, Donnelley Financial Solutions, and Frost Brown Todd LLC. About Entrepreneur Of The Year® Entrepreneur Of The Year® is the world’s most prestigious business awards program for unstoppable entrepreneurs. These visionary leaders deliver innovation, growth and prosperity that transform our world. The program engages entrepreneurs with insights and experiences that foster growth. It connects them with their peers to strengthen entrepreneurship around the world. Entrepreneur Of The Year is the first and only truly global awards program of its kind. It celebrates entrepreneurs through regional and national awards programs in more than 145 cities in over 60 countries. National Overall Award winners go on to compete for the World Entrepreneur Of The Year® title. Visit ey.com/us/eoy. About EY Private As Advisors to the ambitious™, EY Private professionals possess the experience and passion to support private businesses and their owners in unlocking the full potential of their ambitions. EY Private teams offer distinct insights born from the long EY history of working with business owners and entrepreneurs. These teams support the full spectrum of private enterprises including private capital managers and investors and the portfolio businesses they fund, business owners, family businesses, family offices and entrepreneurs. Visit ey.com/us/private. About EY EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets. Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate. Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com. Practical ways to use it in business and what to avoid
At first glance, especially for people who have trouble writing or have difficulty starting out and collecting their thoughts at a keyboard, AI can feel like the smartest kid in the class offering to do your homework for free, forever. It seems like a huge win and I’m not saying it isn’t. But there are a few things you should be aware of as well as some tasks it does tremendously well that could save you a lot of time and energy. AI “Doesn’t Always Get It Right” Google’s new Bard (AI) issued this statement to all users, “Bard will not always get it right. Bard may give inaccurate or inappropriate responses. When in doubt, use the ‘Google it’ button to check Bard’s responses.” This is true of all AI. AI is not a sentient being. It gets its answers and content by crawling the web and condensing information. Sometimes that can cause problems. It doesn’t:
AI Has Different Levels of Sophistication There are many free options out there as well as AI/bot starters where you can build your own “in minutes.” It’s important to know that each one has different capabilities and claims—some have a plagiarism detector, for instance, so you needn’t worry about the copy it creates for you being flagged as duplicate content. It’s Only as Good as What You Feed It The real benefit of using AI lies in its ability to create content in a fraction of the time it takes for a human to write it. Even talented writers using dictation software or ones blessed with 100+ words per minute typing skills, can’t research and write a 300-word blog post in a minute. But the content is only as good as the instructions you give it. For instance, if you were producing a blog post about Golden Retrievers, as a dog walker your blog would be different than that of a dog breeder/dog show participant, which would be different still from a vet’s perspective written for other vets. The level of sophistication and knowledge is different for each of those audiences. You will need to express that in the directions you provide the AI if you want a good piece of content that fits the needs and understanding of your audience. AIs Struggle with Same Names When I asked Google’s AI Bard what Bard does really well as research for this article, it responded with things that a bard/storyteller excels at, not what it does. (However, when I asked “what do you do well?,” it provided a satisfactory answer. So, if your business shares a name with something else or you’re using a play on words or employing a name/word in a different context, the program may not produce helpful results. 5 Things AI Does Well Now that you know what to watch out for, let’s cover a few things it does really well. Using AI for these things can save you lots of time.
Is using AI right for you and your business? Perhaps. But keep in mind, it is a tool, not an additional employee. It can produce content in a fraction of the time, but it requires oversight. It does not always generate content ready to be used as is. If you envision what it creates as a starting point product like how a sous chef does the prep work for a top chef, you have a good understanding of how you might use it in your business. By U.S. Chamber of Commerce
What you need to know about small business in America including the latest data on job creation, business starts, and more. Key Takeaways
In terms of their impact on the economy, small businesses aren’t actually that small. Small businesses is generally defined by the U.S. Small Business Association (SBA) as independent businesses having fewer than 500 employees. Based on SBA's definition, there are 33.2 million small businesses in America, which account for 99.9% of all U.S. firms. Small businesses are credited with just under two-thirds (63%) of the new jobs created from 1995 to 2021 or 17.3 million new jobs. Small businesses represent 97.3% of all exporters and 32.6% of known export value ($413.3 billion). They also employ almost half (46%) of America's private sector workforce and represent 43.5% of gross domestic product. By almost any measure, small businesses are a vital part of the American economy and workforce. Small business starts reach new highsEntrepreneurship is booming in the U.S. In 2021 alone, a record breaking 5.4 million new business applications were filed, and nearly as many (5.1 million) were filed in 2022. "Entrepreneurship is booming in the U.S. In 2021 alone, a record breaking 5.4 million new business applications were filed." New economic needs and changing consumer preferences during the COVID-19 pandemic created more circumstances for new businesses to start. Many individuals turned their ideas and hobbies into a business that could be run from home and the number of e-commerce retailers skyrocketed. Professional and business services was not far behind, as entrepreneurs tapped into the need for personal consulting services. The U.S. Chamber has set up an interactive map to track the increase in new business applications by state. Inflation bitesAmid historically high inflation, many small businesses are struggling to keep up with rising prices. Over the past year, inflation has been the top concern of small businesses by far, according to the MetLife and U.S. Chamber of Commerce Small Business Index. In the latest survey, over half of small businesses said inflation is the top challenge facing the small business community. Access to capital declinesOver the long term, small businesses’ perceived access to capital to fund and grow their business has declined. According to the Q1 2023 Small Business Index, almost half (49%) of small business owners said their current access to capital or loans is good. This is slightly lower than those who rated their access to capital as good in Q2 2022 (54%) and significantly lower than in Q2 2017 (67%). Small business owners are working harderSmall business owners report working longer hours than they used to just a few years ago. Six years ago, 30% of small business said they were working more hours than they were a year ago. In 2022, half (50%) of small business owners said they are working more hours now than they were a year ago. This equates to a very significant 20-percentage point increase in the share of small business owners that report working more hours. One factor that might be contributing to owners working longer hours is the persistent worker shortage. Right now, we have more than 10.8 million open jobs in the U.S., but only 5.9 million unemployed workers. In other words, if every unemployed person in the country found a job, we would still have almost 5 million open jobs. The lack of workers is hitting small businesses across almost every industry: Recently, the National Federation of Independent Business (NFIB) found that almost half (47%) of small business owners reported job openings that were hard to fill. Strengthening local communitiesConsumers are increasingly looking to support businesses in their local communities. Small Business Saturday has become a great way to support small business owners in neighborhoods across the country every year around the holidays—but there are many reasons to support local businesses year-round. At the same time, small businesses are looking to reciprocate the goodwill and give back to their local communities in return. When asked about how they have engaged with their community in the past year, here are small businesses’ most popular answers:
Richmond, Ind. – The Wayne County Area Chamber of Commerce celebrated 120 area high school seniors with a big bash. Their School Is Cool program rewards students with near-perfect attendance, and the culmination of the program is the annual Senior Celebration.
The program is in partnership with Wetzel Auto and First Bank Richmond along with about 200 other Chamber members contributing to the prize stash totaling more than $287,000. The top prize went to one lucky recipient – Austin Rohe of Richmond High School – receiving his choice of a car or scholarship from Wetzel Auto. “Our family loves this event,” said Jera (Wetzel) Schwer of Wetzel Auto. “It has been a joy to play a role in the School Is Cool program for now 13 years. Seeing the excitement of the winners over the year has been extremely rewarding.” In 13 years, the company has now donated $268,000 in scholarships and cars. All 120 qualifying students received a $1,000 scholarship from both Indiana University East and Ivy Tech Richmond, both of which joined the cause and participated, for now, three years. Chancellor Chad Bolser of Ivy Tech and IU East’s Interim Chancellor, Michelle Mallott, both say they are happy to invest in this group of promising future students. “Adding these scholarships to the lineup has been another layer of validation that showing up every day counts,” said Chamber President and CEO Melissa Vance. “Being present helps students succeed in school, employees succeed at work, and it helps us all succeed in life.” Students arrived at the First Bank Kuhlman Center to find a wall of numbers where they chose their own lucky number for the night. Then, they enjoyed a photo booth, music, pizza, and games while they waited for everyone to get signed in and confirmed. Eastern Indiana Works brought their virtual reality goggles and a large screen for others to view as graduates took turns trying out various careers and workforce activities. The evening was emceed by G101.3’s Keith Kassidy. One by one numbers were drawn and students invited to the stage for their photo opportunity. Then they moved to stations around the room, receiving thermal water bottles from First Bank Richmond, their scholarships, and finally their prize. The energy built throughout the night as even some mascots and cheerleaders celebrated with their respective schools. The prize pool began with a value of at least $50. Then, they slowly increased to include items such as Airpods, Northface backpacks, gift cards, speakers, and TVs. Finally, the winners were narrowed to the final two recipients. One would receive a $500 Best Buy gift card and the other their choice of a Honda HRV, a Chevy Trailblazer, or a scholarship in the same amount. “When we began the School Is Cool program in 2009, we knew we needed to reach kids at a young age with the message that attendance matters. Hopefully, as these kids grow up learning that determination, it will become a lifelong habit,” said Garry Kleer of First Bank Richmond. Kleer was serving on the Chamber board and worked with other business leaders along with Chamber staff to begin pulling the program together. Now, the School Is Cool program is far-reaching, encompassing all five public school districts and Seton Catholic School. At the elementary level, one name is drawn from those achieving at least 98 percent attendance. That student receives a bike, sponsored by Meijer and Walmart. Middle schools do the same with the Chamber presenting winners with an electric scooter. All six high schools receive ticket bundles from G101.3 for winners from grades 9-11. In all, 26 schools benefit from this potentially life-changing initiative. Vance summed up the event by saying, “Wayne County is incredibly fortunate to have organizations so invested in the future leaders of our community. Nights like tonight shout that from the rooftop!” By U.S. Chamber of Commerce
Despite leading nearly half of U.S. businesses, women entrepreneurs typically receive less funding. These 16 funding options aim to address this problem. While women-owned businesses have always played a crucial role in the economy, more women are taking the leap into entrepreneurship in recent years. According to a Gusto study, 49% of entrepreneurs in 2021 were women — up from 28% in 2019. Yet in 2021, startups founded solely by women received just 2% of venture capital investments. To help bridge that gap, here are 16 organizations, government agencies, and resources that offer funding support for women-owned businesses. 37 Angels - The investment firm 37 Angels was founded on the belief that the gender gap in startup investing needs to be closed. The organization invests in early-stage startups from both women and men and has a transparent and open process that makes it easy for entrepreneurs from any background to apply for funding. Pitch forums with 37 Angels investors are held every two months. Amber Grant Foundation - The Amber Grant Foundation was founded by WomensNet in 1998 in honor of Amber Wigdahl, an aspiring woman entrepreneur who died at 19 years old. The Amber Grant Foundation carries on the youthful spirit of Wigdahl by offering women entrepreneurs grants to help their businesses take off. Each month, the Foundation gives away $30,000 in grant funds as well as two year-end grants of $25,000 each. BELLE Capital USA - BELLE Capital USA offers early-stage funding for high-growth companies in underserved markets, particularly for women-led businesses. Its investors plan to invest in 10-15 companies that are currently making $1 million in revenue but are “capable of reaching $120 million or more within 3-5 years.” Subscribe to our newsletter, MIDNIGHT OILExpert business advice, news, and trends, delivered weekly SubscribeBy signing up you agree to the CO— Privacy Policy. You can opt out anytime. BELLE Capital USA focuses on startups in four sectors — IT, digital health, technology-enabled products and services, and CleanTech — and typically funds between $100,000 and $1.5 million, delivered in portions dependent upon milestone achievement. Post-investment, the angel fund helps its companies prepare for high-value exits by recruiting top female talent, all while continuing to work closely with founders and upper management. Cartier Women’s Initiative - The Cartier Women's Initiative is an international entrepreneurship program that provides multiple awards each year to “women-run and women-owned businesses from any country and sector that aim to have a strong and sustainable social and/or environmental impact.” Grant awards range from $30,000 to $100,000. In 2021, the organization also launched a “Science & Technology Pioneer Award,” which hopes to help women entrepreneurs working on innovative scientific and technological projects. Fearless Fund - Businesses led by women of color can apply for financing from Fearless Fund, which is “built by women of color for women of color.” The venture capital fund invests in organizations in need of pre-seed, seed-level, or series A financing. Fearless Fund boasts an array of big-name corporate partners, including Coca-Cola, Mastercard, and UPS. In 2023, the company also launched its Fearless Strivers Grant Contest, open to Black women who are the principal owner of any U.S.-based small businesses. The four selected contest winners will receive $20,000 grants, along with digital growth tools and mentorship opportunities. Female Founders Fund - If the name wasn’t clear enough, the VC firm Female Founders Fund aims to invest in up-and-coming women-owned and women-run startups. Since 2014, Female Founders Fund has put money toward “category-defining female leaders with a strong community to fuel their success,” with investments in B2B, consumer, healthcare, fintech, and social companies. Grants.gov - The website Grants.gov offers the most comprehensive look at federal grant options for businesses. Not all grants specifically target women-owned businesses; however, given the thousands of grants to apply to, there are many opportunities here for companies from all backgrounds. Grants.gov lists federal grants from agencies including the Department of the Interior, Health and Human Services, National Science Foundation, and more. GrantsForWomen.org - The website GrantsForWomen.org is a simple but incredibly useful website for women business owners who are looking for grants. What makes the site more useful than many is that it lists grant opportunities at the local and national level, making it easier to find lesser-known organizations that are offering funding. The site also does a good job of outlining recent and timely opportunities, so it’s worth checking frequently. The website GrantsForWomen.org is a simple but incredibly useful website for women business owners who are looking for grants. What makes the site more useful than many is that it lists grant opportunities at the local and national level, making it easier to find lesser-known organizations that are offering funding. iFundWomen - iFundWomen offers a range of funding options for women-owned businesses. One of the organization’s most convenient tools is the iFundWomen Universal Grant Application, which matches its partners’ grant criteria to businesses in the database. Qualified applicants who are a match for a sponsored grant will be notified. In addition to grants, iFundWomen also offers a platform for women-owned businesses looking to crowdfund, as well as educational resources to help them get started. Site visitors who wish to contribute to a crowdfunding campaign can filter their search by business category, date, and funding goal. Kapor Capital - Oakland-based venture capital firm Kapor Capital has a mission to empower founders who come from all backgrounds, including many women entrepreneurs. The firm says 38% of its “first-time investments have a founder who identifies as a woman” and works to fund startups working to solve big problems in education, finance, health, work, and justice. Ms. Foundation for Women - The Ms. Foundation for Women’s mission is to advance equity for women by supporting female entrepreneurs, centering women of color who have been historically underrepresented. In addition to funding, the nonprofit provides strategic assistance to help women-owned businesses achieve lasting success and growth. The Ms. Foundation’s grants focus on supporting grassroots organizations in three categories: economic justice, safety, and women’s health. Grants are typically administered via targeted requests for proposals, offered to a limited number of applicants. However, open calls for proposals will sometimes be posted on the organization’s website, so entrepreneurs can keep an eye out for these opportunities. SoGal Ventures - Women-led venture capital firm SoGal Ventures invests in “early-stage diverse founding teams” in the U.S., Asia, Africa, and Europe, including many women-owned startups. To date, the firm has invested in more than 70 companies. SoGal Ventures works side by side with the organization SoGal, which provides “advisory, coaching, mentorship services, startup resources, and events” to diverse startups who are looking for help and networking. Small Business Administration (SBA)For years, the Small Business Administration (SBA) has been one of the best places for women-owned businesses to look to for assistance with funding. On top of providing general resources and guidance through its Women’s Business Centers, the SBA can connect women-owned businesses with financing opportunities through its Lender Match tool. The SBA also can help with obtaining federal contracting opportunities for women-owned businesses through the Women-Owned Small Business Federal Contracting program. Tory Burch Foundation - The Tory Burch Foundation, which was founded in 2009 in support of empowering women entrepreneurs, provides funding through its fellows program targeted at women-owned businesses. Fellows receive a five-day workshop series at the Tory Burch offices, a $5,000 grant for business education, and more. Additionally, some fellows are invited to pitch at a Pitch Day event. Visa Global She’s Next Grant Program - Female entrepreneurs looking to launch beyond the U.S. can seek out the Visa Global She’s Next Grant Program. In collaboration with the above-mentioned iFundWomen, Visa offers grant and coaching opportunities for women-owned small businesses across the globe. Since its launch, the She’s Next Grant has been made available to entrepreneurs in Chile, Poland, the Dominican Republic, the Baltics, the Nordic region, and the Mena region. Though the application period has closed as of February 2023, global business owners can monitor the page in the coming months for the next round of grants. Women Founders Network Fast Pitch Competition - Each year, the Women Founders Network hosts its Fast Pitch Competition for female entrepreneurs. The top 10 selected finalists will receive personalized coaching, mentorship, and feedback to prepare for their pitch. Winning pitches will earn cash prizes totaling $55,000: $25,000 to first-place winners in each of two tracks (tech and non-tech), plus $5,000 to one winner in the Junior Judge program (open to young women in grades 9-12). The competition is open to U.S.-based women-owned businesses that have raised no greater than $750,000 in outside funding. Applications will be accepted between April 1 and May 31 for the 2023 competition. |
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