SkysTheLimit.org ("Sky's the Limit") Receives $320,000 Wells Fargo Grant to Help Get Small Businesses Back to Growth

OAKLAND, Calif., Dec.15, 2021 /PRNewswire-PRWeb/ -- As the California economy picks up and more small businesses pivot from surviving to thriving, Sky's the Limit has been awarded a $320,000 grant from the Wells Fargo Open for Business Fund to help small businesses get back to growing again.

Thanks to Wells Fargo's Open for Business Fund, a roughly $420 million small business recovery effort, Sky's the Limit will be able to connect underrepresented young entrepreneurs with one-on-one business support and technical assistance through a virtual coaching, mentoring, and counseling service delivery model -- at zero cost to the participating entrepreneurs.

Sky's the Limit CEO Bo Ghirardelli said, "90% of Sky's the Limit entrepreneurs are 18 to 29 years old at the time they join the program, and they are statistically underrepresented in traditional pathways to entrepreneurship. 70% self-identify as women and 80% as people of color -- 61% self-identify as Black and 12% as LatinX. As many as 85% report low or no income when they join, making the urgency of what we do that much greater. We are incredibly grateful for the support of the Wells Fargo Open for Business Fund to ensure that we can support these trailblazing young entrepreneurs as they chase their business dreams."

For small business owners facing financial hardships and other significant business challenges, having access to expert mentors and training through the Sky's the Limit community helps them tackle the key elements required to own and operate a business at every step of the journey.

From preparing bank and grant applications to setting up legal structures; to business planning; to product development, marketing, and more, Sky's the Limit entrepreneurs are better equipped to get back to growth. Plus, free business mentoring from trusted, vetted professionals helps these entrepreneurs build confidence and experience a safe place to practice and develop the many critical skills needed for long-term success -- helping small business owners recover and emerge from the pandemic even stronger and more resilient.

Entrepreneurs can register to participate in the business-mentoring program online at skysthelimit.org by clicking, "I'm an entrepreneur." Entrepreneurs are welcome at every stage of their journey: 79% report joining at the pre-launch stage and 21% join with an existing business. After joining, entrepreneurs can also connect with peers who are developing businesses across all industries, including fashion and apparel, beauty and food. Free business education resources and training are available on the site, and each month the community upvotes an entrepreneur for grant money to help capitalize their business.

ABOUT SKYSTHELIMIT.ORG
SkysTheLimit.org is a non-profit organization whose platform connects underrepresented entrepreneurs with volunteer business professionals for free one-on-one mentoring. Sky's the Limit's mission is to build a global community where all entrepreneurs and their allies can build meaningful relationships and grow together. The team also provides education and training opportunities to all members and monthly funding opportunities.

ABOUT WELLS FARGO OPEN FOR BUSINESS FUND
The Open for Business Fund provides support for Community Development Financial Institutions (CDFIs), and other nonprofit organizations that serve diverse small businesses, with a focus on Black, African American, Latino, Asian American, American Indian, and Alaska Native entrepreneurs.

Media Contact

Penny Guyon, Strut Agency, 1 323-874-0772, [email protected]

Tashion Macon, Strut Agency, 818-749-8786, [email protected]

SOURCE Strut Agency; Sky's The Limit