Woman’s business center offers financial education for start-ups

Data pix.

ST. LOUIS - Financial knowledge may seem like a barrier to opening your own business, but there is an organization in St. Louis that can help.

WIBO or Workshop in Business Opportunities is a 16-week program put on by Grace Hill Women`s Business Center which was initially founded to help marginalized, low-income communities.

"Business owners have challenges understanding the financials that means looking at the break-even cost analysis, making sure that there`s a profit, looking at the pro forma, where is the money coming in, where is the money going out. It`s not a conversation that`s easily shared but it`s very necessary," says Director Alyce Herndon.

Students admit the program has given them a better understanding of their finances not only professionally but also personally.

“I can actually say my parents didn`t talk about finances a lot, but I was a person who wanted to work for what I wanted. I worked my job for like 15 years and I decided that the money I was making from my job I could make it for myself and my family," said Stacy Harbor, Twist My Pickle and More Owner.

“Step-by-step you understand marketing, understand social media, understand how to do QuickBooks which is an app that`s good for entrepreneurs which breaks down the accounting process for you so those types of tools. It doesn`t matter you can use these at home and in your personal life to advance yourself and personal growth and your job as well," said Robert Cleveland, Cleveland`s Cuisines owner.

Leaders say since the program's inception there been 15,000 graduates nationwide and 54% of their businesses are still open five years later.

It's giving entrepreneurs a path to achieve their dreams and it seems like they`re inspiring a few more in the process.

“They were like oh mom you`re going to business class to learn about your business and it`s also sparked an interest in my daughter. She`s 12 so now she`s thinking about ways she can create a business and she`s actually talking about babysitting. I was like you`ve got to go to WIBO," said Ashley Fisher-Knox, Virtuous Properties owner.

There is a fee for the WIBO class, however, Grace Hill Women`s Business Center does offer many free classes.

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.