PCBT: WEV helps hundreds of tri-county small businesses thrive

Entrepreneurship is on the rise here in the United States, as Americans are starting and running their own small businesses at record rates as part of a post-pandemic shift.

According to the Center for American Progress, the number of startups — defined as businesses under 1 year old — surged in 2022 and 2023, surpassing pre-Great Recession levels for the first time.

And that continued in 2024 as the U.S. Department of Treasury highlighted the United States is averaging 430,000 new business applications per month in 2024, 50% more than in 2019.

But with so many people turning to entrepreneurship, and many for the first time in their lives, the importance of local business resources, programs and services becomes even more important.

Enter the Women’s Economic Ventures, one of the business resource networks here on the Central Coast that offers programs and services to help people start, grow, or improve their businesses.

The nonprofit, which was first started in Santa Barbara but also helps entrepreneurs in Ventura County, was founded in 1991 and has helped countless women start up their small businesses.

In 2024, WEV helped 596 clients and 400 businesses and between those people and their small businesses, they generated $39.5 million in revenue.

That $39.5 million plays a huge role in helping build up the local economy here on the Central Coast, said Nicki Parr, CEO of the WEV.

“Small business is the backbone of the economy, and we’re really just trying to support small business owners in being successful,” Parr told the Business Times.

Parr noted that in WEV’s annual impact report, one statistic that stands out is that for every $1 donated to WEV, $16 goes back into the local economy.

“That is through sales tax, local tax revenue and the jobs that are created from these small businesses,” Parr said.

WEV has experienced tremendous growth over the past five years as well, Parr noted, with the majority of that growth happening in the post-pandemic world.

Parr said that in the last five years, WEV has assisted 1,278 businesses that have created or sustained over 3,500 jobs, generated over $147 million in sales and made $12.5 million in local taxes.

“No one is born with this information on how to be successful in business. Some people are really lucky to have the support of friends and family to grow, but often there are a lot of people who are just trying to do it all on their own and we see it as our responsibility to provide guidance to help them be successful,” Parr said.

“We want to make it clear to people to not be afraid to ask for help. There’s just so much help that is available to people that they just don’t realize it is out there.”

Parr noted the importance of financial education and how that is going to continue to be a key focus for WEV in 2025.

WEV offers financial literacy programs and advisory services. Recently, WEV received a $227,677 grant from the California Department of Financial Protection and Innovation in order to continue offering free financial education classes.

“I think people almost feel guilty that they don’t know how to budget, or they don’t know or don’t understand credit and how to build credit, and so even before we even start teaching material, we really want to get into kind of the money mindset and just help normalize that there isn’t anything to be afraid of,” Parr said.

“It’s about creating that kind of safe space for our clients to build trust and then we teach the material.”

Parr added that WEV also has a Spanish-language financial education program that is also building momentum.

For many, starting their own business is not only about creating a sense of freedom, but it also allows them the opportunity to live a fruitful life on the Central Coast — an area that has an extremely high cost of living.

“My biggest success has been achieving dreams I never thought possible — owning my own business, obtaining my associate teaching credential, and purchasing my first home with my husband — a dream come true, made possible by the support I received from WEV,” Salustia Garcia, a childcare business owner said.

“We want people to be successful and stay in business, but also to increase their household income, to increase their family’s quality of life and to feed it back into the community,” Parr said.

With 2025 just beginning, Parr said it is a bit too early to tell if people are feeling optimistic about the upcoming year, but added that she believes everybody has at least one small business idea in their head.

“I think there is definitely some trepidation, but I think entrepreneurs will always be kind of full of hope and optimism and wanting to start new things. I think that’s just hardwired into the system,” Parr said.

“That being said it is really challenging here on the Central Coast, so you have to be pretty tenacious to start a business, particularly if you’re an immigrant or from a low-income population group, there’s just so many more barriers. But that is where WEV tries to play a role and remove some of those barriers on the playing field so that it is an even playing field.”