January 19, 2008

Credit card debt surged in the last part of 2007 because of holiday spending and home equity lines of credit becoming harder to access. We are also seeing much media attention focusing on recession predictions. What does this mean for micro-entrepreneurs? Women’s Initiative believe that our clients will weather the storm based on past participant outcomes. The last recession was in 2001, so we looked at our results from that period. Graduation from the Women’s Initiative program caused income to increase by an average of $10,000 after having completed the program for one year (survey respondents data from 1999-2003). In comparison, individuals who did not complete the program did not experience the same increase. We will keep an eye on potential gains and losses for micro-entrepreneurs as the economy fluctuates.
HOT TOPICS

Last May Cadence presented Women's Initiative with a check to help fund the San Jose site.

Women's Initiative Classes Now Open in Silicon Valley
As part of the 20th Anniversary celebrating excellent service in the Bay Area, more classes will be available to women entrepreneurs throughout Northern California. In 2007 Women's Initiative delivered on providing services in areas with acute need and celebrated its first class graduations in San Jose, San Rafael, and Concord. The Mexican America Community Services Agency and a space through the Hispanic University has allowed Women's Initiative to operate classes in Silicon Valley. Graduates are launching such diverse ventures as a Honduran restaurant, a Mexican bar, a wine broker business, a taqueria, clothing boutiques, eco-friendly cleaning services and more. The agency is looking forward to opening a full business training center for women in San Jose this year. Initial investments from Cadence Design Systems and Comerica Bank will help Women’s Initiative open the site.
 
GRADUATE SPOTLIGHT

Andrea Montalvo
Owner of El Ángel de la Belleza

Andrea arrived in the U.S. in 1990 to offer a better life to her soon-to-be-born daughter. Andrea’s life has not been easy since arriving. She had to overcome several personal and professional challenges, but nothing stopped her from providing for her newborn. In order to support herself and her daughter, Andrea held a variety of jobs from janitorial services to selling beauty products. However, Andrea continued to dream about having her own business, a place where she could take care of the beauty and health needs of others.

Andrea was settled in California by 2006, but started experiencing serious health problems accompanied by deep depression. These problems prevented her from working full-time and she relied on family members for financial support. Andrea then found Women's Initiative or, rather, it found her. During a Women's Initiative presentation at Andrea’s church she learned about ALAS, the Women's Initiative program designed to propel Latina entrepreneurs to success. She enrolled in one of the first Women's Initiative classes in the San Jose area and graduated in November 2007. Andrea shared: “Women's Initiative gave me all the necessary tools to start a business. Thanks to the ALAS program, I am no longer ignorant. I knew I had to learn, but I did not know how or where to start.”

Today Andrea owns El Ángel de la Belleza, a place designed to care for the beauty and health needs of women. Andrea offers therapeutic massage, nutrition, weight management, and cosmetology, among other services. She is starting to make consistent sales even though she has not yet reached the breakeven point. Her future plans are to turn El Ángel de la Belleza into a full-service spa. Andrea also added that, “Women's Initiative gave me a loan when nobody wanted to give me one. I did not have a credit report or even a bank account, but Women's Initiative trusted me to buy great quality products with the money that I borrowed.” Andrea is constantly looking for ways to expand her business and to offer higher quality services. Women's Initiative was the springboard she needed to get her business off the ground and support her with tools to open El Ángel de la Belleza successfully.

Visit Andrea's store at 2701-A Alum Rock Ave., San José, CA 95127.

     -Julieta Pomares, Women's Initiative
 
EVENTS

Make the Dream Real
Join the 10th Annual Martin Luther King Jr. National Holiday Celebration on Mon Jan 21, 2008, 10 am - 12 noon, featuring Angela Davis as the keynote speaker. Celebration to take place at the Taylor Memorial United Methodist Church, 12th and Adeline Streets in Oakland, CA. For more information contact Aeeshah Clottey at aeeshah@sbcglobal.net or (510) 708-8671.

Crystal Singing Bowls session
Graduate Kim Le is celebrating five years of operating her business, which has officially changed its name to Nurturing Spa for Wellness. Please join her for the next session of crystal singing bowls therapy session at her spa on Sat, Feb 2, 2008, 4:00 pm – 5:30 pm. If you are interested in finding out more, please call Kim at (415) 297-4394.

 

Building Powerful Referrals to Double Your Client Base
We are looking for Business Connectors for our upcoming Connect Event. Don’t miss this wonderful opportunity to get connected with influential business women and with graduates. Featuring distinguished keynote speaker Joan Black of “No More Cold Calling.” Tues, Feb 26, 2008, 6 pm – 8 pm at IBM Corporation (425 Market Street, San Francisco). To sign up please contact Alma Elizondo at (415) 641-3470 or aelizondo@womensinitiative.org.

Save the Date: Women’s Initiative’s 2008 Gala
Wednesday May 14, 2008, 5:30 pm – 9:00 pm at the Westin St. Francis Hotel, San Francisco. Join the Bay Area’s most powerful women in business as Linda Hothem receives this year’s Founders’ Award. As CEO of Pacific American Group, Linda runs one of the largest privately owned businesses in the Bay Area. For more information contact Madhuri Kirkham, Corporate Relations Manager, at (510) 287-3107 or mkirkham@womensinitiative.org. Don't forget to mark your calendar!
 
IN THE NEWS

Women's Initiative and it’s a few of its Marin-based clients were featured in the Jan 2008 edition of Marin Magazine. To read the story, CLICK HERE.

Women's Initiative client Ania Moniuszko, owner of My Own Bag, was featured in a story about green shopping bag in the Dec 21, 2007 issue of The Chronicle. To read the story, CLICK HERE.