Central Illinois women say lack of mentorship is a major barrier in taking their small businesses to the next level.
That was the takeaway from Lt. Gov. Juliana Stratton's recent visit to Bloomington-Normal. Stratton’s series of casual conversations with women across the state, called "We Chats," is part of her We Thrive initiative empowering women with tools to achieve financial literacy.
Organized by the Minority Business Development Center and Denise Moore, founder of the Peoria-based Black Business Alliance, Stratton heard from more than 20 women of color during her Jan. 19 visit. The group of central Illinois small-business owners said starting a business is easier than keeping it going.
“They get to a particular point and then they’re not sure where to go next,” Stratton said on WGLT’s Sound Ideas. “They’re not sure where to get resources about how to grow their business.”
Stratton said a combination of factors have contributed to a lack of engagement with existing resources from agencies like the McLean County Chamber of Commerce and Illinois Department of Commerce and Economic Opportunity [DCEO].
“They were all nodding their heads as one woman said, ‘It is lonely here,’” Stratton said.
Stratton said there is a false assumption that women know where to go to seek mentorship and support. And wisdom about managing money and planning for retirement isn't always passed down to women and girls, who could not easily obtain a credit card until the mid-1970s.
“Historically and generationally, it’s not the same level of conversation happening at our kitchen tables and other spaces in our homes, in our schools and on our campuses,” Stratton said.
Stratton has made women a focus of her office and chairs the Illinois Council on Women and Girls. Since We Thrive kicked off in December, Stratton’s We Chats also have included conversations with Latina business owners and women in agriculture.
Stratton said many women were unaware of programs that can assist them in finding childcare assistance and access to routine preventative health care. In each session, she asked participants if they subscribed to the DCEO's newsletter promoting small business grants, low interest loans and access to technical assistance, as a few examples. No one raised their hand.
“I want women to feel empowered to know that the information exists and that it’s OK to go out and get it,” said Stratton, pointed out to other recent achievements such as the Paid Leave for All Workers Act and bumps to minimum wage as additional benefits to women, who still typically earn 84 cents on the dollar compared with men.
But just because resources exist doesn’t mean people can find them.
We Thrive isn’t aimed at creating new programs, per se; rather, Stratton seeks to leverage existing resources and point women in the right direction. One possible outcome of We Thrive is a tailored online portal connecting women to existing state resources. And the We Chat sessions themselves — intentionally or not — aid women in building the support systems and mentorships they seek.
“There was such a camaraderie that came quickly because they could relate to each other,” Stratton said. “They’re exchanging business cards and saying how affirming it was — that lets me know that these spaces are needed.”
As a trailblazing woman in government — Stratton is the first Black woman to both serve as Illinois lieutenant governor and chair the National Lieutenant Governors Association — that camaraderie inherently benefits her, too.
“There’s a part of this work where it was really important to make sure women’s voices led the way,” she said. “It’s very affirming for me to be in this space. We see the empowerment happening because they’re given a space where it is safe to say what they need and to feel supported by others in the room. It’s impossible that I would not also be inspired by that.”
