For many folks from marginalized communities, small business ownership can be a powerful path out of poverty and into financial security and well-being. Yet in today’s economy, financial systems are increasingly complex, business planning is challenging to navigate, and barriers to achieving financial stability can be daunting.
On April 27, 2022 the Washington State Microenterprise Association (WSMA) and the Financial Empowerment Network (FEN) held a panel to learn more about providers across the state offering both financial wellness services and small business development services.
We explored how layering both types of support can multiply the positive impact for individuals and communities. Financial empowerment services can include financial education, counseling, or coaching, and work to ensure that communities have access to reliable information and trustworthy tools to help with topics such as dealing with debt and improving credit, budgeting, banking, taxes, starting a business, and homeownership. Small business development programs work with people who want to increase their income by starting their own business, learning to sell their products or services online and manage their cash flow.
During the webinar, we heard from panelists (Panelist Bios) from organizations grounded in both financial empowerment and small business development, who shared their journey to offering both types of support and what structures and partnerships have worked well for them along the way. We hope you will leave with resources and new ideas about how you can support your clients in accessing both types of support.
~ Jenefeness Tucker, VP of Community Relations & Public Affairs at Seattle Credit Union, Entrepreneur, Professor of Economics; Seattle Central College & Collaborator with Black-Owned Business Excellence in WA (BOBE)
Our Presenters and Panelist Facilitators:
This webinar is brought to you by the Washington State Microenterprise Association (WSMA) and the Financial Empowerment Network (FEN) with support from the Washington State Treasurer's Office, Black Owned Business Excellence, Seattle Credit Union, YWCA Seattle / King County, Enterprise for Equity, Ventures and the Washington State Department of Commerce.