Impact and Programs
Accomplishments
In our fiscal year ending June 30, 2019 (FY19), WomenVenture served 1,162 established and emerging entrepreneurs. We provided 8,000 hours of entrepreneurial training through six core training programs designed to address our clients’ needs at each stage of business development. WomenVenture’s in depth training classes are accompanied by one-on-one mentoring and peer circles both during and following completion of the class, and last year we provided 1,000 hours of individualized attention to training clients. Through experience, we have found this personalized coaching can have deep impact on a woman’s ability to overcome the unique barriers she faces with her personal skills or business obstacles.
Lending is also an integral part of WomenVenture’s offerings because without access to capital many of our clients’ businesses would be unable to launch or grow. In FY19, we lent $764,000 to 38 businesses. Each of our loans is paired with business coaching to ensure the success of the business. Last year, our loan clients accessed 3,500 hours of support for their businesses through our staff and volunteer network.
While FY19 client business results are still pending, in FY18 WomenVenture clients started or expanded 206 small businesses and paid themselves on average $26/hour. Their businesses created or retained 916 jobs with an average employee wage of $20/hour, and generated $54.5 million in gross revenue, contributing $6.9 million in income tax revenue to the local economy.
Current Goals
In our fiscal year ending June 30, 2020, our goals are to serve 1,188 clients interested in pursuing entrepreneurship, provide 7,000 hours of training, 4,000 hours of coaching and distribute $1,000,000 in loan capital to small businesses. With access to our services, we hope to help women start or expand 228 businesses, create or retain 1,091 jobs, and generate revenues in excess of $50,000,000.
Community or Constituency Served
WomenVenture empowers entrepreneurial women from diverse backgrounds in the 15-county Twin Cities Metro area. We maintain a particular focus on communities who are under-represented in the traditional business community and under-served by its support structures. Last year, our clients were 95% female, 62% low income and 49% people of color.
Geographic Area Served
WomenVenture serves the 15 county Twin Cities metro area.
