The City of Columbus is making strides to empower women entrepreneurs with the announcement of a $90,000 grant to expand services at the Columbus Financial Empowerment Center. According to a statement obtained by the City of Columbus, the grant is part of the nationwide Small Business Boost (SBB) initiative by the Cities for Financial Empowerment Fund (CFE Fund), with Columbus being one of seven municipalities to receive the grant.
Shannon Ginther, first lady of the City of Columbus and chair of the Columbus Women's Commission, expressed the importance of this initiative, stating, "Women are a powerful force in the Columbus economy – driving innovation, creating jobs and promoting upward mobility for children and families." With services offered at no cost, women will have access to financial tools and knowledge essential for their success in both professional and personal arenas, she told the City of Columbus.
The obstacles women small business owners face are not small, often involving personal financial barriers that hinder their ability to start or grow a venture. It is the aim of Principal® Foundation, a Principal Financial Group, Inc. nonprofit organization, to help such entrepreneurs overcome these hurdles and secure their financial future. Jo Christine Miles, director of Principal® Foundation and Community Relations, highlighted the importance of small businesses to the nation's economy and, by implication, the significance of supporting these enterprises for community wealth building. "It’s why we continue to support the Cities for Financial Empowerment Fund and its Small Business Boost initiative – a program that has had a positive impact on local small business owners and their communities," she said through the City of Columbus official website.
Jonathan Mintz, President and CEO of the Cities for Financial Empowerment Fund, echoed this sentiment, according to the City of Columbus, noting that personal finances shouldn't be an obstacle to a strong start in business. The Columbus Financial Empowerment Center's current milestones, which include helping over 900 residents reduce debt by $2.4 million and build savings by $950,000, are a testament to the program's effectiveness. Those interested can seek financial counseling services or schedule an appointment through the organization's website.
Regarding the supporters, The Principal Foundation is an independent charitable entity supported by Principal Financial Group and focused on financial security philanthropy. It is barred from investment advisory services and remains a distinct entity from the Principal. The CFE Fund works with municipalities to enhance household financial stability through local government and has dispensed over $69 million to city governments and partners in its mission. Interested parties can visit their respective websites for further information on their operations and services.
