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Organization ‘The WELL’ transform Black women entrepreneurs with $50,000 investment from GM – Atlanta, Georgia

Atlanta, Georgia 2021-06-23 09:22:48 –

WELL delves into some of the most important aspects of business and entrepreneurship throughout the program curriculum related to maintaining a profitable and prosperous business. (Submitted photo)

As a result of the COVID-19 pandemic, economic conflict and rising unemployment have hit many people around the world.

Many turned to entrepreneurship and started business because people were absent from work and still needed to support their families. And a black woman took the lead.

Women’s Entrepreneurship Leadership Lab (WELL) has partnered with General Motors and the National Business League to advance and transform small black female business owners.

“Black women are the fastest growing entrepreneurial sector in the country,” said Dr. Kenneth L. Harris. National Business League, Inc.’s National President and CEO said. “The least supported in terms of opportunity and revenue growth, regardless of race, creed, color, sexual orientation, or gender.”

“”[The WELL] Is a network that brings together black women’s business leaders to build communities, build businesses, generate wealth, create jobs, and move beyond the limits of dreams, “WELL founded. Said Nakeia Drummond, who is also the CEO of the company. “That was what I needed as an early business owner.

“One of the first things I learned was that in the first two years I felt isolated and lonely during the transition from employee to business owner,” she continued. “I started meeting with other female business owners, and realized that it wasn’t new in business, but about being a business owner in general. The feeling of isolation you feel, what you do Decision making, you need people who understand your context and where you are. “

Well and his early entrepreneurial growth program have taken care to see what happens to black women with respect to the job market, both at the beginning and throughout the pandemic.

“We knew that a pandemic would allow more black women to start a black business. Black women are also the largest group of“ side planners ”or side hustlers. I believe it has a direct correlation with what we make, our wages and fairness, “Drummond said. “Our job is to provide enough clarity, support and insight to allow them to graduate from a prosperous black-owned business that goes beyond’side plannership’. “

With a premier partnership between the National Business League and General Motors, including a $ 50,000 investment from General Motors, WELL’s early entrepreneurship program launched and graduated from a 20-member national cohort to host a pitch contest. And offer 10 scholarships in carefully selected target cities. ..

In order for a target city to be selected, it must show a desire to see black women grow in business. Home to General Motors, Detroit will also serve as home to a new chapter in the Well Network.

Well plans to invest $ 50,000 from General Motors to create a successful black female entrepreneur.

“This is used in two parts. The first is the identification and involvement of women. The target cities are looking for black women who are just starting out with an annual income of less than $ 25,000 over a period of 0 to 2 years. The program starts next, “Drummond said.

“Our wish is to grow the chapter of our network. As the number of established businesses grows, we still want to reach out to early entrepreneurs and become mentors. Our goal is to prove that this model is as important to the community as capital. As we work together and work together, we increase our ability and confidence to grow. Chase money to grow our business and live our lives. “

WELL delves into some of the most important aspects of business and entrepreneurship throughout the program curriculum related to maintaining a profitable and prosperous business.

“The program has six focus areas, focusing on different areas each month. In the first month, it’s clear who you are, what you’re doing, and how you’re doing it. It’s a business strategy to make it happen, “says Drummond.

“The second month focuses on small business finance and understands the financial statements and the necessary financial team. The third month is legal, so this includes copyrights, patents, trademarks, and Includes everything you need to conclude regarding a contract with a client.

“The fourth month is marketing and branding. The colors we use on social media aren’t everything, we connect things to our strategy and go back to the first and fourth months. The fifth month is. It’s a system and operation that includes everything you need as a business owner, “she continued.

“Introduce the system so that you can recreate what you are doing. The sixth month is the division between the business technologies that may support your business and the final way to market your business. There is also pitch competition where women have the opportunity to win cash injections into their business. “

With the proliferation of black female entrepreneurs, having a solid foundation for business progress is paramount to standing out from the crowd.

“One of the things we’re looking for is that there’s some evidence that you’re taking the process seriously, but it still doesn’t have to be completely polished. It’s growing for the first time. There may be websites, social media, or you may have actually registered your business in your city or state, “Dramondo said.

“You can also show that you are testing your business informally. You don’t just come up with ideas, it’s not going to help you here. How to combine pieces to grow I’m ready to introduce you. “

Current and existing business owner membership applications and online communities are open until June 27th.

“Apply to participate in the Early Entrepreneurship Growth program. Don’t do it alone,” Drummond said. “No one who succeeded had a way to reach out and promote them. Join the support and accountability community.”



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