Women’s Economic Ventures (WEV) has released its 2023 Impact Report, highlighting significant strides in empowering women entrepreneurs in Santa Barbara and Ventura counties.
The report was presented during a recent event at the Ventura County Community Foundation, showcasing the collective effort to support women’s economic independence and financial literacy in the region.
Attendees included stakeholders, local leaders, and representatives from partnering organizations.
Opening the event, Nicki Parr, newly appointed CEO of WEV, acknowledged the contributions of community organizations, particularly the event’s Passion and Presenting Sponsor, Bank of America.
“Today’s accomplishments are made possible by the unwavering support of our sponsors, donors and partners,” Parr said. “Your dedication fuels our mission to create a more equitable economic landscape for women.”
Midge Campbell-Thomas, senior vice president at Bank of America and a leader in the local markets, noted the bank’s commitment to WEV’s mission.
“At Bank of America, we believe in the power of women’s entrepreneurship to uplift families and communities,” she said. “Our partnership with WEV goes beyond financial support; we are invested in the success of their entrepreneurs through funding, volunteer work, and sharing financial expertise.
“Together, we are building a thriving ecosystem where women entrepreneurs can flourish.”
Seana-Marie Sesma, a long-time WEV supporter and owner of Your Professional Resource Girls, talked about her entrepreneurial journey.
“With the support from WEV, I was able to rebrand my business, develop a new business plan, and land significant clients. WEV’s advisors have been instrumental in helping me achieve my business goals and elevate my company,” Sesma said.
Parr concluded by underscoring the impact of WEV’s programs. “Our 2023 Impact Report showcases our commitment to economic equity through entrepreneurship,” she said. “We have served more low-income clients, more people of color, and more clients in Ventura County than ever before.
“We have seen substantial increases in household incomes and business sales among our clients, proving the effectiveness of WEV’s support.”
Parr also emphasized the low level of funding for entities aimed at helping girls and women.
“Organizations serving women and girls, like WEV, are tremendously underfunded, receiving just 1.8% of all philanthropic dollars. Yet, our impact is profound,” Parr said.
“For every dollar invested in WEV, $15 are returned to the community,” she said. “I invite everyone to continue or begin their support, ensuring that we can create even more success stories.”
Highlights from the 2023 Impact Report include:
• Over 60 childcare businesses supported and $375,000 in microgrants awarded through the Business of Childcare program.
• Successful completion of digital literacy training by 59 small business owners, with 75% reporting increased digital confidence.
• Over 300 businesses received more than $1.3 million in funding and 6,000 hours of business support through the Emprendimiento and Forgivable Loan programs.
The event was underwritten by sponsors, including Bank of America, Banks Coaching, LinkedIn, Lure Digital, The Acorn Project, Amazon (Santa Barbara), Cox Communications, Martin V. Smith School of Business and Economics at CSUCI, Ventura County Credit Union, Athens Services, Chevron, Nasif, Hicks, Harris and Co, Santa Barbara City College Foundation, Santa Barbara Foundation, TileCo, and US Bank.
Learn more about WEV’s impact and view the full 2023 Impact Report at https://wevonline.org/about/impact/.
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About Women’s Economic Ventures (WEV), www.wevonline.org
Women’s Economic Ventures is a nonprofit dedicated to the economic empowerment of women. WEV is a business resource network for anyone looking to start a business, grow a local business, or improve their business skills. WEV provides a full range of small business support – including classes, consulting, and funding – as well as financial literacy programs in Santa Barbara and Ventura counties. While WEV’s focus is on women, it welcomes people of all gender identities into the WEV community. Business courses, programs and loans are provided in both English and Spanish.
Since 1991, WEV has provided business training and small business advisory services to more than 20,0001 people throughout Santa Barbara and Ventura counties. WEV has made more than $10 million in small business loans and grants and helped nearly 6,000 local businesses start or expand, generating an estimated $598 million2 in annual sales and sustaining or creating nearly 12,000 local jobs. WEV is a U.S. Small Business Administration’s Women’s Business Center and Microlender, as well as a certified Community Development Financial Institution (CDFI).
To support WEV’s work, visit www.wevonline.org/support.