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 improve or grow their businesses.
And they reached a phenomenal milestone: they provided $100 million in low-cost capital to women entrepreneurs.
Building on this success, Bank of America and the Tory Burch Foundation are launching “Tory Burch Foundation Business Webinars,” a virtual program designed to educate business owners on various business topics, along with a “robust” content library for on-demand learning.
Bank of America states that the program “is set to be the largest free online educational resource available for women entrepreneurs.”
Women entrepreneurs are on the rise. According to the Senate Committee on Small Business and Entrepreneurship, women entrepreneurs have created about half of all new small businesses launched since the onset of the COVID-19 pandemic.
To maintain this momentum, however, women entrepreneurs need more resources and access. As Tory Burch, 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 expertise, we create a catalyst for economic growth and job creation.”
Pam Seagle, Global Executive for Women at Bank of America, says that after working with small business clients, they learned that women entrepreneurs need greater access to training, mentoring, networks, capital, [and] markets.
And Seagle believes that “this unique platform has the potential to reach millions of women entrepreneurs who would not have had access to a resource like this before.” Burch agrees, adding: “With the help of Bank of America, the reach of this program will be truly transformative.”
The program targets early-stage businesses owned by women. The webinars, which offer “expert instruction and travel learning materials,” will be available live and on-demand on the Tory Burch Foundation website (www.toryburchfoundation.org/resources/?_sfm_content_type=Webinar) and on YouTube (www.youtube.com/toryburchfoundation).
And it’s all free.
The sessions take place on Wednesdays at 1 PM Eastern Time and are organized by the Tory Burch Foundation team and subject matter experts. Registration is now open for the spring schedule. The first session – Make Entrepreneurship Yours – will launch this Wednesday, April 10.
Future topics include:
• Scaling with federal funding
• Create your operations plan
• Countdown to launch: go-to-market strategy
• Leading in challenging times
• Start your tax preparation
Women entrepreneurs have come a long way. According to the Small Business Administration (SBA), the latest Annual Business Survey from the U.S. Census Bureau shows that women-owned businesses generate $2.1 billion in annual revenues.
But women own only 22% of the country’s employer businesses. Resources like these from BofA and a legendary entrepreneur like Tory Burch are powerful tools that we must leverage.