On Give Miami Day, you celebrated women’s empowerment through entrepreneurship

Female entrepreneurship is on fire. Never before has there been the level of support for women seeking to start their own businesses as we are experiencing today. The pace at which women are becoming entrepreneurs is momentous, and every time a woman shows up to manifest her own destiny, she should be celebrated.

Just 30 years ago, a woman had to have a male co-signer to get a business loan. In 1988, the Women’s Business Ownership Act was signed into law, a crucial step forward. Today, female entrepreneurship continues to rise with women running more than 13 million businesses in the United States and employing almost 10 million people. A Harvard Business Review study suggests that Black women are starting businesses faster than any other racial group, with 2.7 million companies nationwide.

Some of those women are here in our own community, and YWCA South Florida is honored to have supported them through our WE360 program. Women such as Michelle Singh, Lakeycia Cooper and Jessica Jefferson are paving their entrepreneurial path forward through innovation and self-determination.

Michelle is the founder and CEO of LCT-E Learning Solutions and was one of 18 women recently selected for Walker’s

Legacy’s national Prospectus Accelerator cohort this fall. Lakeycia, owner of Lollipops & Gumdrops Children’s Spa won a $50,000 grant from Miami-Dade County’s BizUp competition. And Jessica, owner of SW Social Support, took first place at the Black Girl Ventures Miami Pitch Competition. These business leaders are demonstrating firsthand how women are shaping our social and economic landscape.

However, even with this historic growth, women still face barriers. These entrepreneurs experience hurdles to funding, gender bias, competent mentors and lack of access to childcare and educational training. Many doors still need to be unlocked, and we have a long way to go. That’s why more than two dozen local leaders and advocates already have stepped forward this fall to fortify our women’s empowerment program.

The call was to commit to local women who desire an entrepreneurial career and to help pave their road to success. The response was loud and clear. South Florida wants women to succeed and programs like WE360 to be a conduit to get there.

WE360 helps women of color overcome obstacles to start, grow and sustain businesses, while providing them with educational tools to increase their knowledge and confidence as entrepreneurs. We know firsthand when we empower women, we uplift entire communities. Entrepreneurship narrows the gender wealth gap, advances equity and elevates women as community leaders.

We need more champions like Jennifer Lopez’s Limitless Labs, which partnered with Grameen

America to raise funds and awareness for Latina entrepreneurs. We need more government funding so the Small Business Administration can continue expanding its women’s business centers across the country. We need more corporations like Bank of America offering free resources for female entrepreneurs in English and Spanish.

With strong mentor relationships and increased access to capital and training, more women will know they can confidently chase their dream of business ownership. A woman will know that even though the statistics are still not completely in her favor, the tides are shifting. She will know that she, too, can be among the top women founders, who in 2022 represented more than $20 billion in commerce, according to Inc. magazine.

Entrepreneurship is rooted in women’s empowerment, so it was fitting that on Nov. 17, Give Miami Day, so many generous people in this community helped us celebrate female entrepreneurs.

We are grateful for each and every donation to support the YWCA South Florida’s WE360 program, creating life-altering opportunities to help girls and women succeed on their terms. The more we support women entrepreneurs, the more we drive economic expansion, decrease unemployment, strengthen families and enhance communities.

Thank you for taking a bold step on Give Miami Day and declaring your support for justice and equity; for Michelle, Lakeycia and Jessica.

Now, take a step for all the women behind them. On Nov. 19, Women’s Entrepreneurship Day, let’s celebrate all of our local women entrepreneurs for the changemakers and leaders they are.