In 2014, iconic designer Tory Burch and Bank of America teamed up to form The Tory Burch and Bank of America Capital Program, which helps women entrepreneurs find affordable loans to better grow their businesses.
And they’ve reached a phenomenal milestone—providing $100 million in low-cost capital to women business owners.
To build on that success, B of A and The Tory Burch Foundation are launching The Tory Burch Foundation Business Webinars, a virtual program designed to educate business owners on various entrepreneurial topics, plus a “robust” content library for on-demand learning.
Bank of America says the program “is poised to be the largest, free online educational resource available for women entrepreneurs.”
Women business owners are already on quite a roll. According to the Senate Committee on Small Business and Entrepreneurship, entrepreneurial women have created about half of all new small businesses launched since the beginning of the COVID-19 pandemic.
To maintain that pace, however, women entrepreneurs need more resources and access. As Tory Burch, the Executive Chairman and Chief Creative Officer of Tory Burch, says, “It takes more than a great idea and determination to build a business; it takes resources. When we equip founders with expert insights, we create a catalyst for economic growth and job creation.”
Pam Seagle, Global Women’s Program Executive at Bank of America, says that after working with small business clients, they’ve learned that women entrepreneurs need greater access…to training, mentorship, networks, capital, [and] markets.”
And Seagle believes “This one-of-a-kind platform has the potential to reach millions of women entrepreneurs who wouldn’t have had access to a resource like this before.” Burch agrees, adding, “With Bank of America’s help, the reach of this program will be truly transformative.”
The program targets early-stage women-owned businesses. The webinars, which offer “expert instruction and takeaway learning materials,” will be available both live and on-demand on the Tory Burch Foundation website and YouTube.
And it’s all free.
Sessions are held on Wednesdays at 1 PM, eastern time, hosted by Tory Burch Foundation staff and subject matter experts. Registration is now open for spring programming. The first session—Make Entrepreneurship Your Own—launches April 10.
Future topics include:
- Scaling with Federal Funding
- Create Your Operations Blueprint
Countdown to Launch: Go-to-Market Strategy - Leading Through Challenging Times
- Kickstart Your Tax Prep
Women entrepreneurs have come a long way since I first launched a magazine for them back in the 1980s. According to the Small Business Administration (SBA), the most recent U.S. Census Bureau’s Annual Business Survey shows that women-owned businesses generate $2.1 trillion in annual receipts.
And we shared some good news about female small business owners just a few weeks ago. But we can—and must—do better. Women only own 22% of the nation’s employer firms. Resources like these from B of A and a legendary entrepreneur like Tory Burch are powerful tools we should take advantage of.
Rieva Lesonsky is CEO of GrowBiz Media, a media and custom content company focusing on small business and entrepreneurship. Email Rieva at rieva@smallbusinesscurrents.com, follow her on Twitter @Rieva, and visit her website SmallBusinessCurrents.com to get the scoop on business trends and sign up for Rieva’s free Currents newsletter.
Photo Courtesy: Tory Burch
