Support for Women Entrepreneurs in Arkansas

The Arkansas Women’s Business Center (AWBC) has had an eventful quarter focusing on Arkansas’s youth. An adjustment from our typical target of women entrepreneurs, this summer has been packed with trainings and activities geared toward nurturing an interest in entrepreneurship. Studies show that teaching entrepreneurship at an early age cultivates much-needed soft skills necessary for success in today’s competitive markets. Whether it’s owning and maintaining small business or, more traditionally, seeking employment in the ever-changing job market, entrepreneurship teaches self-confidence, social skills, public speaking, creative thinking, team-building and leadership skills.

In June, AWBC held two youth-oriented programs: Beginnings at the Bank and 2018 El Dorado Youth Entrepreneur Camp. With an award of $5,000 granted from U.S. Bank, the AWBC hosted 18 high school students from Life Skills for Youth for Beginnings at the Bank, a two-day financial literacy training at the Arkansas Regional Innovation Hub. Partnering with Regions Bank and Centennial Bank, AWBC offered first-steps programming on understanding money and healthy uses of it, covering topics like banking basics, variable and fixed costs, credit versus debt, what reports to credit bureaus, how to maintain and lose healthy credit, college financing options, and identity theft protection. Beginnings at the Bank was a hard-hitting yet interactive training that included games, exercises and skits, encouraging full participation and open dialogue between the youth and our bank trainers. We are pleased that every student could identity at least one new piece of information that they now understand as a result of the training. In fact, several participants stated that more than 50 percent of the information was new to them.

Sponsored by Innovate Arkansas, 2018 El Dorado Youth Entrepreneur Camp was held from June 18-22 in partnership with South Arkansas Community College and the Arkansas Department of Education’s Upward Bound program. AWBC coached 12 high school students through the process of starting and maintaining a small business. Students learned the lean canvas method, how to study and track consumer behavior, and the importance of company branding, among other topics. Throughout the week, AWBC recruited local business owners to discuss the milestones and barriers to owning one’s own business. The students divided into teams and created pitch decks to present their business concepts to a panel of judges for a chance to win $500 cash. Because AWBC believes that business development and community development are closely linked, the students pitched the Murphy Arts District on how they can better target and reach the teen population of El Dorado and surrounding areas.

As AWBC returns to its regular programming – developing women’s capacity for entrepreneurship and business development – we hope that by partnering with these great organizations to offer assistance to Arkansas youth, we have created and encouraged budding entrepreneurs.