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This month, the Women's Business Development Council will award nearly $400,000 in grants to 44 businesses, 32% of which are minority-owned.
Roughly 32% of the recipients are minorities.
WBDC is making the necessary space to create a consolidated, powerful voice for women business owners and entrepreneurs throughout Connecticut.
According to the DECD, over 90% of the businesses registered in the state are small businesses; they employ over 50% of Connecticut’s workforce.
When the economic effects of the pandemic were first seen by the state’s Department of Labor -- during the week of March 15 – 50,109 females filed for unemployment, compared with 28,464 males.
The president of one Stamford company said she’d been sparring with Chase – her bank of choice for over 25 years – over her firm’s PPP loan practically since the program was announced. “They’re probably the poster child for incompetency," she said.
The panel of local health, business, workforce, and education experts organized by AdvanceCT will consult with the governor's administration and legislative leadership on the reopening of Connecticut’s economy and education system.
Connecticut marked another grim COVID-19 milestone today, adding another 65 deaths to bring the total to 1,036. Fairfield County recorded 19 fatalities to bring...
"Women represent a mere five percent of Fortune 500 CEOs," said Pastore.
Ned Lamont "understands the need for economic growth, and the huge burden he’s facing,” says Joseph Brennan, president and CEO of the Connecticut Business and Industry Association. “He’s going to need help.”
“There is nothing sadder for me than walking into a company and seeing women not being kind to other women, not helping them, not mentoring them,” said Helen Rothberg, professor of strategy at Marist College and who also operates the consulting firm HNR Associates.
Women business owners claim access to capital (25 percent), lack of start-up knowledge (20 percent) and the need to gain credibility (18 percent) as the three biggest challenges they faced when launching their own business.
While the opportunities and the rewards of being an entrepreneur are limitless, the stakes of launching any new business, whether it be male- or female-owned, are high.
“Anecdotally, I still hear complaints from small businesses that they still have trouble accessing capital,” said CBIA President Joe Brennan.
While waiting for a resolution to the state budget impasse, President/CEO Fran Pastore remains confident that the group – and women entrepreneurs and business owners – will continue to make progress.
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