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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.
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.”
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 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.
Applications for WBDC loans of $2,500-50,000 are being accepted now on a rolling basis.
The WBDC represents some 18,000 clients, who pay over $3.5 million in taxes each year.
The Women with Impact Annual Business Breakfast & Symposium will be held at the Hyatt Regency Greenwich.
The Council provides the Danbury and Western Connecticut State University communities with entrepreneurial and financial training programs.
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