SBAM Foundation Announces Inaugural Women’s Entrepreneurial Fellowship

LANSING, Mich. – The SBAM Foundation (SBAMF), supported by its parent organization, the Small Business Association of Michigan, has launched its Women’s Entrepreneurial Fellowship (WEF) program and chosen 11 businesses for the first cohort. The eight-month initiative will equip these second-stage, women-owned businesses with resources to overcome diverse challenges and scale their operations.

Women-owned businesses are a vital part of Michigan’s economy, representing 43.2% of the state’s 902,131 small businesses – higher than the national average. Detroit, in particular, was ranked as the top U.S. metropolitan area for growth in women-owned businesses between 2014 and 2019.

“The launch of the Women’s Entrepreneurial Fellowship is an exciting step toward ensuring that second-stage, women-owned businesses receive the targeted support they need to thrive, said Brian Calley, SBAM President & CEO. “This program will provide invaluable resources, from mentorship and business certifications to networking opportunities and access to capital, helping these entrepreneurs overcome the unique challenges they face.”

Qualifying businesses have more than one employee in addition to the owner, have been in operation for at least two years, and generate a minimum of $500,000 in annual revenue. Here are the businesses that were selected for the inaugural cohort: 

Recent data underscores the need for the support provided by this new program. Only 10% of women business owners report securing a small business loan, and women-owned businesses receive just 2.2% of all venture capital funding in the U.S. Operationally, 59% struggle with hiring and retaining qualified staff, while 80% face difficulties dealing with increased costs. Many also encounter challenges in accessing crucial business networks and face gender-based biases in the market.

“Women-owned businesses in Michigan confront a multitude of challenges that hinder their growth potential,” said Kim Bode, Program Director. “From financial constraints to operational difficulties, our fellowship is designed to address these issues comprehensively.”

To address these issues, the Women’s Entrepreneurial Fellowship offers:

“The Women’s Entrepreneurial Fellowship addresses the unique challenges faced by women entrepreneurs in Michigan,” said Amy Rencher, Senior Vice President of Small Business Services at the Michigan Economic Development Corporation (MEDC). “Through its targeted $73 million investment, the Small Business Support Hubs program exemplifies our economic development strategy’s commitment to fostering a diverse and inclusive business ecosystem across the state. By providing mentorship, tailored resources, and a supportive network, we’re not just funding businesses – we’re cultivating leadership and driving innovation. Our goal is to ensure that every woman entrepreneur can Make It in Michigan by providing the tools and opportunities needed to build thriving businesses that contribute to our state’s economic vitality.”

The program runs from November to June 2025 and is currently recruiting for 2025/26 cohorts. Interested women-owned small businesses can find more information on the WEF website or contact Kim Bode, WEF program director. The Women’s Entrepreneurial Fellowship is free of cost and funded by the Small Business Support Hub Grant Program in collaboration with the MEDC. 

About SBAM Foundation:
The SBAM Foundation is a 501(c)(3) organization that promotes small business growth in Michigan through education, research, and innovative programs.

Funding provided by the Small Business Support Hub Grant Program from the SBAM Foundation in partnership with the Michigan Economic Development Corporation. This project is being supported, in whole or in part, by federal award number SLFRP0127 awarded to the State of Michigan by the U.S. Department of the Treasury.

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