‘MAKE MINE A $MILLION BUSINESS’(TM) PROGRAM AIMS TO PROPEL WOMEN-OWNED BUSINESSES PAST THE MILLION-DOLLAR BARRIER
OPEN from American Express(SM), Count-Me-In and Women’s Leadership Exchange Team to Launch National Award Program for Women Entrepreneurs
NEW YORK, March 14, 2005 -- Many women-owned businesses in the United States lack access to mentoring, money and marketing resources needed to become million-dollar businesses. Although they are the fastest growing segment of the small business sector, just 2% of women-owned companies generate $1 million in annual revenues, trailing the number of men-owned, million-dollar businesses by a factor of eight-to-one.
Two powerhouses for women entrepreneurs have teamed with a financial services leader committed to the growth of women-owned enterprises to launch the Make Mine a $Million Business(TM) Program. The pilot program is designed to equip women across the country with necessary mentoring, money and marketing know-how to help them succeed.
Make Mine a $Million Business is a collaboration among Count-Me-In for Women's Economic Independence, a not-for-profit organization dedicated to increasing women's access to credit and capital; the Women's Leadership Exchange (WLE), an educational and networking company that conducts conferences for women business owners across the United States; and OPEN from American Express(SM).
"This program will help create clear pathways for high-growth-potential women entrepreneurs to move them from micro- to million-dollar enterprises," said Nell Merlino, co-founder, president and chief executive officer, Count-Me-In. “Women continue to be challenged securing financing for business growth. Sixty-six percent of women who come to the Count-Me-In web site have been turned down by three to five banks in the past year."
How the Make Mine a $Million Business Program Works
Through a combination of loans, networking opportunities and one-on-one business coaching, the Make Mine a $Million Business program will provide women entrepreneurs with the needed resources to break the million-dollar threshold. Award winners will benefit from a “Dream Team” of coaches and business advisors that include some of the most successful women entrepreneurs in the nation. As part of the award, the team will work with individual winners for one year to create a specific plan for growth, and will mentor the winners on issues ranging from operations to marketing to financing. The coaches will serve as champions and advocates for participants, giving them the confidence and encouragement to help them succeed.
“To break through the million-dollar barrier, women business owners need access to the ‘three M's' – Money, Marketing and Mentoring,” said Susan Sobbott, president, OPEN from American Express. “Make Mine a $Million Business represents an incredible growth opportunity for ambitious women entrepreneurs, and OPEN from American Express is committed to their success. Great business practitioners from throughout the American Express family are contributing their time by serving as mentors. In addition, American Express hopes to inspire more organizations to get involved in this issue, and is serving as an ambassador to corporate America to raise awareness.”
This national pilot program will select 15 of the nation's most promising women business owners to receive the OPEN from American Express Make Mine a $Million Business Award, which includes a business loan up to $45,000 from Count-Me-In and a year of focused mentoring from a team of business leaders. Fifteen runners-up will receive loans up to $20,000.
Winners and runners-up will be chosen at Women's Leadership Exchange conferences this year in Dallas (April 5), Chicago (May 10), Southern California (August 2), Atlanta (September 21) and New York (November 3).
To qualify, businesses need to be women-owned and in business at least two years. Six finalists in each region will be selected to “make her business case” before a panel of successful local entrepreneurs. Panelists will select three winning businesses at the conclusion of each conference.
Interested women business owners can learn more about the award criteria and apply by logging on to www.count-me-in.org.
Women's Leadership Exchange Conferences
At the Women's Leadership Exchange conferences, Make Mine a $Million Business program finalists will be able to network with women who have similar growth objectives, and connect with established women entrepreneurs who can share insights about how they made their businesses successful. Throughout each single-day conference, attendees will hear from such role models as keynote speaker Carolyn Kepcher of “The Apprentice”.
Leslie Grossman and Andrea March, co-founders of the Women's Leadership Exchange, said, “By attending a WLE conference, applicants and nominees will be exposed to a wide range of successful women who can offer them the advice and support they need to get past what are often self-imposed plateaus.”
Each woman who applies for the OPEN from American Express Make Mine a $Million Business Award will receive a $25 discount on WLE conference fees. Each conference will include a seminar specifically designed to teach women how to make funding presentations for their businesses. For more conference information and applications for Make Mine a $Million Business, visit www.womensleadershipexchange.com and click on the Make Mine a $Million button.
About Count-Me-In
Count Me In, a nonprofit 501(c)3 organization, champions women's entrepreneurship and economic independence. Dedicated to increasing women's access to credit and capital, the organization provides online nationwide access to micro business loans, business consultation and education to women who have been turned down or discouraged by commercial financial institutions. We are changing the way women do business! For more information, visit www.count-me-in.org.
About Women's Leadership Exchange
The Women's Leadership Exchange (WLE) is a New York City-based multimedia company founded by and for female entrepreneurs that features educational conferences in five cities annually (Dallas, Chicago, Southern California, Atlanta and New York) for already established businesses with revenues from $500,000 to $25 million. The WLE offers women entrepreneurs access to the tools and connections that drive business growth. The WLE mission is to help develop more women leaders in business and other areas of human endeavor by connecting women with top business experts, corporate leaders and with each other. The WLE also offers its e-newsletter, “The Exchange,” its online New Women's Network Directory, its women's business spa retreats and topic-specific seminars on such issues as finances. The WLE presenting sponsor is OPEN: The Small Business Network from American Express. For more information, visit www.womensleadershipexchange.com or call 1-888-937-5800.
About OPEN: The Small Business Network from American Express
OPEN: The Small Business Network is the division of American Express that provides small business owners an enhanced set of products, tools, services and savings designed to meet their evolving needs, including charge and credit cards, convenient access to working capital, robust online account management capabilities and savings on business services from an expanded lineup of partners. To obtain more information about the OPEN Network, visit http://OPEN.americanexpress.com/women, or call 1-800-471-0028 to apply for a card or loan.
American Express Company is a diversified worldwide travel, financial and network services company founded in 1850. It is a world leader in charge and credit cards, Travelers Cheques, travel, financial planning, business services, insurance and international banking.
