Tory Burch understands the power of small business: having grown from a 2-person-show to a to a company of almost 700 people, in seven years ago, she believes that small businesses are the backbone of the economy. They create 75 percent of new jobs and Burch believes small business is the solution to the 22 million people currently unemployed in the U.S.
With a desire to support the small business community so that they can create more jobs, she launched the Tory Burch Foundation with the goal of economically empowering women. Partnering with Accion USA, the microlending partner, the foundation is providing women with the financial support they need to start and grow businesses through microfinance. The average loan is $8,000 and creates or saves 2.4 jobs.Recognising that advice is just as important as capital, the Tory Burch Foundation has also launched a mentoring initiative that pairs up entrepreneurs, speed dating style, matching more than 100 new small business owners with nine mentors, people who are successes in their fields, like Jimmy Choo's Tamara Mellon, Tracey Kemble of the Marcus Samuelsson Group and American Express' Jessica Igoe. Read about the matches and advice from mentors here.
The results are already outstanding with women entrepreneurs in the USA gaining the confidence they need to turn their business ideas into outcomes.
Which leaves me wondering if this is something that could take off in Australia too?
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Sara Lucas commented on 21-Oct-2010 04:45 PM
Sara Lucas commented on 21-Oct-2010 04:50 PM
Sara Lucas commented on 21-Oct-2010 04:45 PM
Hi Jen
Good post, I also read Tory Burch's blog today and note your comments about whether this is something that could take off in Australia too.
It's already here, in a form. Heads Over Heels www.headsoverheels.com.au was founded earlier this year with the express purpose of supporting high growth female entrepreneurs. We are still nascent but our team have delivered high impact outcomes to our 6 portfolio companies in less than 6 months. Some examples of this include, introducing www.ghermez.com.au cupcakes to www.cudo.com.au where they sold some 48000 cupcakes on one day this week. Facilitating government grants for www.posse.com.au , introducing www.CustomerUnderground.com.au to a listed company where partnership discussions are ongoing, delivering www.simvse.com.au, a new stock exchange for cleantech businesses, to an audience of Chinese Investors. Introducing other companies in the portfolio to valuable research and distribution partners and the list goes on.
All of this has been achieved through the connectivity and commitment of our members, a handpicked group of people who give up their time and open their networks to the companies with the aim of giving them a helping hand towards sustainable high growth operations. And yes, whilst our companies are led by talented women, our members are men and women, a great example of willing men and women proactively working together to help women entrepreneurs succeed.
Best regards to you and the team
Sara
Good post, I also read Tory Burch's blog today and note your comments about whether this is something that could take off in Australia too.
It's already here, in a form. Heads Over Heels www.headsoverheels.com.au was founded earlier this year with the express purpose of supporting high growth female entrepreneurs. We are still nascent but our team have delivered high impact outcomes to our 6 portfolio companies in less than 6 months. Some examples of this include, introducing www.ghermez.com.au cupcakes to www.cudo.com.au where they sold some 48000 cupcakes on one day this week. Facilitating government grants for www.posse.com.au , introducing www.CustomerUnderground.com.au to a listed company where partnership discussions are ongoing, delivering www.simvse.com.au, a new stock exchange for cleantech businesses, to an audience of Chinese Investors. Introducing other companies in the portfolio to valuable research and distribution partners and the list goes on.
All of this has been achieved through the connectivity and commitment of our members, a handpicked group of people who give up their time and open their networks to the companies with the aim of giving them a helping hand towards sustainable high growth operations. And yes, whilst our companies are led by talented women, our members are men and women, a great example of willing men and women proactively working together to help women entrepreneurs succeed.
Best regards to you and the team
Sara
Sara Lucas commented on 21-Oct-2010 04:50 PM
Sorry, an au slipped onto the end of www.customerunderground.com by mistake.
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