Detroit City Wire

The SBAM Foundation, in collaboration with the Small Business Association of Michigan, has initiated the Women's Entrepreneurial Fellowship (WEF) program. This program aims to support second-stage, women-owned businesses by providing resources to help them overcome various challenges and expand their operations. Eleven businesses have been selected for the inaugural cohort of this eight-month initiative.

Women-owned businesses play a significant role in Michigan's economy, making up 43.2% of the state's small businesses, which is above the national average. Detroit was identified as the leading U.S. metropolitan area for growth in women-owned businesses from 2014 to 2019.

Brian Calley, President & CEO of SBAM, stated: “The launch of the Women’s Entrepreneurial Fellowship is an exciting step toward ensuring that second-stage, women-owned businesses receive the targeted support they need to thrive.” He highlighted that the program would offer mentorship, business certifications, networking opportunities, and access to capital.

Eligible businesses must have more than one employee besides the owner, have operated for at least two years, and generate a minimum annual revenue of $500,000. The chosen companies for this first cohort include Eagle Specialties LLC, Elderly Instruments, Fido & Stitch, Groovy Donuts, Jungle Jane Promotions, Marshall Holding, Neuco Furniture & Upholstery, Pioneer Machine and Technology Inc., The Betty Brigade, Winsome Travel Design, and Wolverine Pickleball.

Kim Bode, Program Director of WEF said: “Women-owned businesses in Michigan confront a multitude of challenges that hinder their growth potential.” She explained that financial constraints and operational difficulties are among these issues.

To address these challenges comprehensively, WEF provides one-on-one mentorship with established business leaders; monthly learning sessions on critical business topics; networking opportunities with investors and industry leaders; guidance on accessing capital and growth resources; support in obtaining relevant business certifications; specialized courses on financial management; marketing; and operational efficiency.

Amy Rencher from the Michigan Economic Development Corporation commented: “The Women’s Entrepreneurial Fellowship addresses the unique challenges faced by women entrepreneurs in Michigan.” She noted that through a targeted $73 million investment from the Small Business Support Hubs program: "We’re not just funding businesses – we’re cultivating leadership and driving innovation."

The fellowship runs from November to June 2025 and is open for recruitment for future cohorts. Interested parties can find more information on WEF's website or contact Kim Bode directly. The fellowship is free and funded by grants from both SBAM Foundation's Small Business Support Hub Grant Program and MEDC.

The SBAM Foundation is dedicated to promoting small business growth in Michigan through education and innovative programs. This project receives federal support under award number SLFRP0127 granted to Michigan by the U.S. Department of Treasury.