Women Entrepreneurship in Massachusetts
FOR IMMEDIATE RELEASE:
Massachusetts Competitive Partnership Launches Strategic Partnership with the Center for Women and Enterprise (CWE)
The effort aims to create a Women's Entrepreneurship HUB statewide network for women in business
BOSTON, November 22, 2021 – In its mission to better support women as they start, run and grow their businesses in Massachusetts, the Massachusetts Competitive Partnership (MACP) has partnered with the Center for Women and Enterprise (CWE) to build the CWE Hub, a statewide network of resources for women entrepreneurs across the Commonwealth.
This strategic partnership follows MACP’s March 2021 report, published in collaboration with the City of Boston’s Mayor’s Office of Women’s Advancement and conducted by Deloitte, titled “It’s Her Time: Women Entrepreneurship in Massachusetts,” which found that women are “the fastest-growing, highest-performing and most economically underutilized subsegment of entrepreneurs.” While Massachusetts has robust resources for entrepreneurs, women frequently have trouble identifying, locating and accessing the resources they need the most.
From the Berkshires, to the Cape and the Islands, and communities in between, the CWE Hub aims to fill the support gaps that currently exist for women across Massachusetts as they start and build their own companies. The CWE Hub will provide training and technical assistance resources, content experts, corporations and business owners ready to support — and do business with — women entrepreneurs, with a particular focus on immigrant, BIPOC, Gateway communities and rural businesses. Regional needs will be served by dedicated CWE staff members.
Over the next three years, with investment from the MACP community, foundations and other funders in combination with CWE’s already existing infrastructure and programming, this partnership will bolster the entrepreneurial landscape for women in Massachusetts. The CWE Hub will provide robust programmatic offerings, an enhanced referral system with formal strategic partnerships and a stronger cloud presence that encourages collaboration and brings together resources, support organizations and women business owners.
“We are excited to partner with MACP to make sure that the Commonwealth is not only a leading state for business, but also a leading state for women to do business,” said Gaby King Morse, President and CEO of CWE. “When women are empowered to launch and grow their businesses, they drive economic growth, lift up their communities and create a more equitable world for Massachusetts and beyond.”
“When women entrepreneurs have optimal access to the resources, financing, expertise and networks necessary to thrive, we all benefit,” said Dr. Jeffrey M. Leiden, chairman of the MACP Board of Directors and executive chairman of the Vertex Pharmaceuticals Board of Directors. “We are delighted to partner with CWE to expand opportunities for women entrepreneurs in every corner of the Commonwealth.”
"CWE is the best source of support for women-owned businesses,” said Vicki Gray, CEO and founder of New Chapter Home Improvement LLC and board member of CWE. “As a female entrepreneur, CWE has helped advance and expand my business through their entrepreneur educational workshops, technical support and government incentive programs. Resource centers like CWE are so important and vital for women today because women business owners are still fighting an uphill battle for recognition and equal opportunities in the business world. CWE offers the resources and services that help level the playing field."
"In today's fast-paced economy, women entrepreneurs are the key to ensuring that Massachusetts — and every state — stays competitive," said Corey Thomas, CEO of Rapid7. "I look forward to seeing untapped potential become future breakthroughs as the CWE Hub comes to fruition in each and every community.”
“Women workers, managers and business leaders are crucial to the commercial landscape of Massachusetts, and we must focus on their needs to properly promote job growth and competitiveness,” said Ronald O'Hanley, chairman and CEO of State Street. “Today’s announcement, following Women's Entrepreneurship Day, continues this mission.”
“I came upon CWE when I began applying for a variety of COVID small business recovery grants,” said Erin Long, owner of Erin Long Photography. “My advisor was immediately ready to help me in any way she could and guided me through the process. She was my lifeline when it came to the financial section, as I had never created a profit and loss statement before. Wading through the numbers and struggling to figure out how to plug them into the application practically undid me. I was a full-time mom, homeschooling two children and balancing a lot. It often brought me to tears, but all the while, I had CWE. Thanks to their tireless help and guidance, I not only received my first-ever grant, which helped me keep my business alive, I also gained financial literacy skills that have made me a much smarter businesswoman. Access to CWE resources, workshops and consultants is important for all women who want to launch and grow their business. I look forward to CWE extending their reach to help more women entrepreneurs in Massachusetts."
MACP and CWE aim to launch the statewide component of the CWE Hub by June of 2022. Once fully activated, success of the CWE Hub will be measured online and on the ground, paying close attention to the number of CWE Hub participants’ business starts, revenue growth and jobs created.
About MACP
The Massachusetts Competitive Partnership is a non-profit, non-partisan, 501(c)(4) public policy group comprised of chief executive officers of some of the Commonwealth's largest businesses. The Partnership's goals are to promote job growth and competitiveness in the Commonwealth by working in collaboration with public officials and business and civic leaders in Massachusetts. MACP’s mission is to make Massachusetts one of the leading states for business investment, inclusive job creation and overall competitiveness.
About CWE
For 26 years, CWE has connected, educated, empowered, and brought awareness to one of the greatest levers for socioeconomic growth: women entrepreneurs. Over the course of our history, we have served over 60,000 women across New England, whose businesses employed over 50,000 individuals, generating $1.6 B in revenue. Serving over 4,500 women annually, 64% are low and moderate income, and over 30% are women of color. CWE is committed to increasing our outreach and accessibility to historically and systemically underserved individuals, sectors, and communities throughout Massachusetts and New England. CWE provides women business owners with free and/or low-cost one-on-one consulting, educational programming, WBENC certification to access larger procurement opportunities, and events focused on thought leadership and networking.
www.CWEonline.org
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MEDIA CONTACT(S):
Kyle Sullivan for MACP
Northwind Strategies
kyle@northwindstrategies.com
Mickey Riendeau
Center for Women & Enterprise