Detroit City Wire

Carolyn Cassin, the President and CEO of Michigan Women Forward (MWF), recently shared insights on her organization's work with the Detroit Regional Chamber. Cassin discussed MWF's dedication to creating economic opportunities for women, particularly those from underrepresented groups. She emphasized that MWF is an economic development organization and a CDFI lender that provides loans to women and minorities who may not qualify for traditional lending. "We want to invest in people so they can actualize their dreams," Cassin remarked.

MWF supports aspiring and existing entrepreneurs by offering access to capital, mentorship, and guidance essential for business growth. Cassin notes that entrepreneurship is a learned skill, stating, "You might be a talented hairdresser or fantastic baker, and math and accounting may not be your biggest strength. But when you are a business owner, you have to learn those skills and prioritize them."

The challenges facing women entrepreneurs are significant but not insurmountable, according to Cassin. She points to the lack of early exposure to entrepreneurship, limited access to capital, and gaps in financial literacy as key obstacles. However, MWF mitigates these issues by teaching financial literacy and preparing individuals for investment. Cassin emphasized the importance of honesty about readiness and practicality of ideas, encouraging aspiring entrepreneurs to pursue dreams they are passionate about.

Looking ahead, Cassin envisions a future where organizations like MWF are unnecessary, projecting a future where everyone has equal access to resources and opportunities. "In 2045, America will be a majority minority country," she said, highlighting Detroit's role as a learning community for inclusive access to capital and skills.

MWF plans to expand its loan offerings and reach more regions in Michigan. Despite uncertainties related to political shifts, Cassin remains focused on creating wealth and opportunities through MWF. MWF will continue to honor outstanding women in the Michigan Women’s Hall of Fame and host events like WomanUp & Celebrate to recognize women's achievements and raise support for its mission.

In addition to offering business resources, MWF encourages community support through donations, attending events, and supporting local entrepreneurs. More information on MWF can be found at miwf.org.