Dear NAWBO Silicon Valley Members & Friends,
From climate activism to corporate leadership, women are driving change for people and the planet. Wishing a Happy Earth Day to all incredible women entrepreneurs in our community and beyond who are making a tangible difference in our community and beyond. Your dedication, innovation, and passion are truly inspiring, and we’re honored by your remarkable achievements. Whether you’re advocating for environmental sustainability, promoting social equity, or implementing innovative solutions, your contributions are invaluable. Take a look at these eight remarkable women with a new vision for Earth, Global Landscapes Forum.
Last month I had the pleasure to virtually attend the State of Latino Entrepreneurship (SOLE) Summit held by the Stanford Latino Entrepreneurship Initiative, a research and education collaboration between Stanford University and the Latino Business Action Network. The 2023 State of Latino Entrepreneurship report reached out nationally to over 10,000 Latino/a and non-Hispanic White-owned employer businesses to offer a comparative perspective.
Despite their needs and efforts in actively pursuing financing for their business, female Latina Owned Businesses (LOB) have the lowest approval rates for business loans from local and national banks, with only 39% approval on average from both local and national banks. In contrast, female White Owned Businesses receive on average 55% of the amount originally requested from local banks and 65% from national banks, whereas White men receive 60% approval from national banks and 67% from local banks. These trends indicate a significant disparity in the financial support system for female LOBs, emphasizing the need for more equitable lending practices. Regardless of the challenges that Latina-owned businesses face, they demonstrate robust revenue growth, outpacing White female- and White male-owned businesses.
As a reminder, make the most of the upcoming National Small Business Week 2-Day free Virtual Summit on April 28 – May 4, 2024 and register today.
Also, join the City of San José’s Office of Economic Development for another of its popular in-person events that bring local business owners together to foster connections, provide valuable resources, and enhance the skills of small business owners.
Small Business Empowerment Day, taking place Monday, May 20, 2024, 10 a.m – 2 p.m. at the San José City Hall Rotunda, will include networking opportunities with fellow entrepreneurs and City staff, insightful workshops, and a keynote from California State Treasurer Fiona Ma, who will share how California is helping to invest in local communities and small businesses.
At NAWBO Silicon Valley, wecre not just another business organization; we’re a community dedicated to redefining success for women entrepreneurs like you. We’re here to champion your growth, provide resources, and offer a network of like-minded individuals who understand the unique challenges and triumphs of being a woman in business. I wholeheartedly encourage you to seize this opportunity and join us. Together, we can build something truly extraordinary.
“The difference between skill and talent: A skill is something you learn. Talent is what you can’t help doing.” —Caroline Ghosen, Founder and CEO of career site Levo
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