Greetings!
Welcome to the first electronic issue of About Women's Business! Formerly published as a semi-annual paper newsletter, AWB will now be a quarterly electronic newsletter.
Why these changes? Here are just a few of the many reasons:
1. Your WBDC news will be much more timely. Our move to a quarterly newsletter will allow us to update you four times a year instead of just two.
2. In the current economy, the WBDC is committed to implementing smart business practices which allow us to cut unnecessary costs and continue to focus on our mission and assist as many women as possible.
3. The WBDC is also committed to incorporating green practices, and an electronic newsletter is one way we can do our part.
If you have any questions or comments please feel free to contact us at dkovac@wbdc.org.
Best wishes for 2009!
WBDC
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| WBDC Sponsors Small Business Survival Forum at University of Chicago Gleacher Center
Capacity Audience Receives Tips from Expert Panel |
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Pictured: (front row, from left) Monika J. Machen, Partner at Sonnenschein Nath & Rosenthal; panel moderator Emilia DiMenco, Executive Vice President of Business Banking at Harris Bank; Nadia M. Quarles, Director of Business Diversity at The University of Chicago; Hedy M. Ratner and Carol Dougal, Co-Presidents of the Women's Business Development Center; and Mitchell Hirsch, Managing Director, Financial Advisory Services Practice, RSM McGladrey; (back row, from left) Lawrence Adelman, Principal at AEG Partners; Jack Yong, Vice President & Senior Manager, Special Accounts Management Unit, Harris N.A.; Harriet Reilly, President of Pinnacle Insurance Agency; and Keven C. Wilder, Senior Consultant, McMillan|Doolittle LLP.
On October 22, 2008 the WBDC, in partnership with the University of Chicago Office of Business Diversity and the Illinois Department of Commerce and Economic Opportunity, presented a free forum on small business survival in tough economic times. "Thriving in a Challenging Economy: The Economy's Impact on Small Business" was a timely response to the needs of WBDC clients in light of the current economic situation.
Terry Savage, President of Terry Savage Productions, author, and regular contributor to the Chicago Sun-Times, presented an economic forecast to the 100 women in attendance.
The forum then featured an eight member panel discussion moderated by Emilia Dimenco, Executive Vice President of Business Banking at Harris Bank and WBDC Board member. Panel members included experts such as turnaround specialists, restructuring consultants, and a bankruptcy lawyer.
Key pieces of advice included:
Take a rigorous look at the health of your business
Manage your expenses carefully
Work more aggressively to collect the money owed you
Market your business aggressively
Panelists stressed that there will be no escaping the pain; most businesses will feel the pinch of the down economy. However, with some savvy moves - right now - you can minimize your losses, stabilize or even increase your revenues, and be better prepared when the inevitable turnaround comes.
For more highlights from the forum, please view our video here.
The WBDC will have additional forums on surviving in the current economy starting in March. These forums will be held in the city and surrounding suburbs and will cover topics such as:
Alternative access to capital
Bankruptcy and other exit options
Increasing cash flow and cutting costs
Alternative marketing strategies
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| Sweet Success
Sugar Bliss Cake Boutique Opens Downtown Retail Location |
 Sugar Bliss Cake Boutique, owned by woman business owner and WBDC client Teresa Ging, opened its first retail location on January 5, 2008. The inviting, sophisticated shop is located at 115 N. Wabash Ave., between Macy's and Millennium Park.
Teresa left a position in finance in 2006 to pursue this dream, attending Le Cordon Bleu Patisserie program in Paris. When she returned to Chicago, she spent the next year testing cupcake recipes and working on her business plan with the WBDC. Teresa attended many WBDC workshops, including the JumpStart and Retail series, and individual counseling sessions with three WBDC counselors. She was an active participant in the WBDC's Asian American Women's Business Initiative.
Sugar Bliss Cake Boutique was first launched in October 2007 as an online catering and delivery business providing gourmet cupcakes. Teresa will continue to offer these delivery and catering services along with her downtown retail shop.
Visit Sugar Bliss Cake Boutique online to take a look at Teresa's mouthwatering cupcake specials at www.sugarblisscakes.com or stop into her new Loop location 7 a.m.-7 p.m. Monday-Friday, 9 a.m.-7 p.m. Saturday, and 9 a.m.-6 p.m. Sunday.
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Funder Spotlight 
Bank of America |
| The Women's Business Development Center is honored to be funded in part by Bank of America and the Bank of America Charitable Foundation.
For over 21 years, Bank of America has supported the WBDC through programmatic grants and sponsorship of the annual Entrepreneurial Woman's Conference. Bank of America is especially committed to supporting low-to-moderate income participants; for instance, in 1996, Bank of America uniquely provided computers for 40 Child Care Business Program participants, enabling them to incorporate technology into their business plans.
The WBDC is enormously grateful for the support of Julie Chavez, Senior Vice President, and Brian Powers, Supplier Diversity Manager, both of whom continue to champion entrepreneurship as a tool for economic independence and wealth accumulation. The WBDC holds its corporate partners and friends in the highest esteem and is proud to count Bank of America as one of its most dedicated funders.
For more information about Bank of America's products and services, please visit www.bankofamerica.com.
Click here to see the full list of WBDC sponsors and supporters which ran in the Chicago Sun-Times and Crain's Chicago Business.
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Save the Date!
23rd Annual Entrepreneurial Woman's Conference |
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September 16 & 17, 2009
Navy Pier |
| Support the WBDC! |
For 22 years, the WBDC has been THE place for women to achieve their entrepreneurial dreams of starting, strengthening, and expanding their businesses. As we enter our third decade of assisting women at every stage of business development, we need your help to meet the ongoing challenges of delivering high-quality services to our clients and achieving our organizational goals.
Please consider giving generously to the WBDC today - mail your donation to WBDC, Attn: Development Dept., 8 S. Michigan Ave., Ste. 400, Chicago, IL 60603 |
| Send us your success stories! |
| The WBDC wants to share in your business success! Over the past 22 years, the WBDC has helped over 55,000 women start or expand their businesses.
Please share your success stories with us so that we may share them in our newsletters and media features with other women business owners as an inspiration to them.
Please contact Danae Kovac at 312-853-3477 x.47 or dkovac@wbdc.org. |
| Upcoming Workshops |
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5 week series, starts Jan 21, 12:30-3:30pm or Jan 22, 5:45-8:45pm
Cost: $165 for series, $45 for individual workshops
12 week program begins
January 26, 6:00-9:00pm
Cost: $400
4 week program begins
February 18, 6:00-8:30pm
Cost: $125 |
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