About Us

Stories of Synergy4WBO

Running a small business is challenging enough. Being a minority or a woman business owner adds additional hurdles when it comes to securing capital, access to mentors and advisors, business development, networking, racism, and social injustice.
There have always been longstanding racial and gender disparities in business ownership. To top it off, the past pandemic has disproportionately devasted minority-owned and women-owned businesses.

We’re taking a bold stand to build a better tomorrow. Support small, minority and women-owned businesses.

20% of small businesses fail in their first year.
20%
30% of small businesses fail in their second year.
30%
50% of small businesses fail after five years in business.
50%

According to a recent 2024 report by Small Business Trends Alliance (SBTA) and Senate’s Small Business Trends (SSBT), the top challenges faced by small business owners are:

Lack of Role Models and Mentors

Lack of Role Models and Mentors

70% of small businesses that received mentoring has double the survival rate of non-mentored businesses

Lack of Funding / Cash Flow

Lack of Funding / Cash Flow

82% of businesses that failed cited cash flow problems as a factor in their failure

Lack of Marketing/Advertising

Lack of Marketing/Advertising

Nearly 50% of women entrepreneurs think they should spend more on advertising and marketing

Running a small business is challenging enough. Being a minority or a woman business owner adds additional hurdles when it comes to securing capital, access to mentors and advisors, business development, networking, racism, and social injustice.
There have always been longstanding racial and gender disparities in business ownership. To top it off, the recent pandemic has disproportionately devasted minority-owned and women-owned businesses.

Mission

To increase opportunities for people of color and women-owned small businesses. To provide a diverse and inclusive community that supports, emboldens, and cultivates people of color and women-owned businesses. Hence, changing their future!

Vision

We see a future where minority and women small business owners in underserved communities can strengthen their knowledge, improve their marketing, gain access to capital and grow beyond their unimaginable potential. Thus, changing their future!

How we plan on achieving our vision

Executive Director

Our Executive Director member Dr. Kim R. Grimes have worked together for the enhancement of minority and women business owners by forging long-standing relationships with minority communities. She have envisioned Synergy4WBO with the sole purpose of encouraging small business owners to draw strength from the mentorship program and help them build sustainable and thriving businesses.
Dr. Grimes is a military veteran who has served the Unites States Army for 25 years! She has a doctorate in leadership and management and is a certified life coach. She has directed and led multiple successful mentoring programs for corporates and small businesses.

Dr. Kim R. Grimes

Executive Director

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