Samantha Scholl, Director of Entrepreneur Programs at the Better Business Bureau Serving the Pacific Southwest, shares her inspiring journey and insights into the dynamic world of entrepreneurship, the challenges faced by aspiring business owners, and the importance of creating an inclusive environment for entrepreneurs.
The Entrepreneurial Landscape in 2023
Samantha Scholl emphasizes the rapidly changing nature of the entrepreneurial landscape in 2023. Access to capital remains a significant challenge, particularly for entrepreneurs in underserved communities who often struggle to secure loans or venture capital, hindering the growth of promising businesses.
Moreover, the evolving technological landscape and the need to continually adapt businesses to keep pace with technology pose substantial challenges for entrepreneurs. Scholl points out that external factors such as the lingering impact of the COVID-19 pandemic, supply chain issues, shifts in customer behavior, and economic inflation continue to affect entrepreneurs’ journeys.
Scholl notes, “The challenges are multifaceted, with hiring becoming increasingly competitive. Finding the right talent and retaining it is a significant obstacle for any company in today’s business environment.”
Empower by GoDaddy – A Solution-Oriented Program
Empower by GoDaddy is playing a pivotal role in helping entrepreneurs overcome these obstacles. The program does not offer a one-size-fits-all solution but tailors its curriculum to the unique needs of each group of participating entrepreneurs. To address challenges like access to capital, Empower by GoDaddy collaborates with organizations like Kiva, which provides 0%-interest microloans.
Scholl explains, “We’ve also added curriculum that addresses the changing technological landscape, including sessions on ethical AI practices and strategy workshops.”
Empower by GoDaddy, in partnership with the BBB, also focuses on hiring challenges by providing guidance on top hiring practices and underlining the importance of company culture in attracting and retaining talent. The BBB even includes a session on streamlining business operations through automation.
Inclusive Entrepreneurship Fostered Through Support Networks
For Scholl, inclusive entrepreneurship means creating an environment where all individuals, regardless of their background, have equal access to opportunities and resources. She emphasizes the importance of actively breaking down barriers related to gender, race, ethnicity, sexual orientation, and socioeconomic status.
A recent survey by GoDaddy found that 71% of LGBTQIA+ entrepreneurs consider supportive networks crucial to their success, surpassing non-LGBTQIA+ entrepreneurs at 59%. As a proud member of the LGBTQIA+ community and a former entrepreneur, Scholl acknowledges the power of supportive networks in providing safe spaces for connection, mentorship, and emotional support.
She states, “It’s crucial to consider these factors. It’s about creating a supportive ecosystem where everyone can feel seen, heard, and valued.”
The Surging Trend of Black Women Entrepreneurs
Scholl highlights the remarkable trend of Black women emerging as the fastest-growing population of microbusiness owners. According to GoDaddy’s Venture Forward research initiative, 1 in 7 microbusinesses started since Black women founded the pandemic.
“It’s inspiring to witness Black women becoming business leaders in our local community,” Scholl remarks. “I’ve observed the resilience, creativity, and determination of Black women entrepreneurs.”
Other Emerging Demographics
The BBB’s Empower by GoDaddy program is currently witnessing significant participation from women-owned businesses, comprising an impressive 85% of the BBB’s current class. Scholl also notes an increase in the number of Latinx entrepreneurs participating, which she sees as a call to be more strategic in recruitment. Additionally, participation by LGBTQIA+ entrepreneurs is on the rise, currently accounting for 9% of participants through the BBB.
Building a Strong Foundation for Entrepreneurship
Scholl offers a valuable piece of advice for aspiring entrepreneurs. She likens entrepreneurship to constructing a skyscraper and underscores the importance of starting with a solid foundation.
“You don’t want to start on the 45th floor,” she advises. “The more solid the foundation, the stronger the skyscraper will be.”
The Empower by GoDaddy partnership with the BBB Serving the Pacific Southwest embodies the spirit of inclusivity, support, and adaptability. By addressing barriers to success and fostering an inclusive community, Empower by GoDaddy and its partners are shaping a brighter future for entrepreneurs from all walks of life.
Empower by GoDaddy Spotlight Series
By collaborating with diverse local nonprofits and community organizations worldwide, Empower by GoDaddy aims to reach individuals who may not have had access to skills training, resources, and mentoring. This article is part of the Empower by GoDaddy spotlight series, shedding light on the individuals who make this unique initiative possible.
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