Empowering small businesses with $77k in seed funding

PROVIDENCE — Since its inception nearly three years ago, nonprofit organization Entrepreneurship for All has provided more than $77,000 in seed funding that has helped launch 31 Rhode Island-based businesses.

Laura Guillen, the executive director of Entrepreneurship for All Rhode Island, said the organization is focused on economic growth by helping underrepresented entrepreneurs turn their ideas into businesses by providing a free, bilingual program to provide mentorship, business training, and a community to help the startups “launch and thrive.”

Q: There are plenty of small business incubation programs throughout Rhode Island, including the Social Enterprise Greenhouse, RIHub, and Hope & Main, among others. How does Entrepreneurship for All Rhode Island, also referred to as EforAll, differ from those?

Guillen: I get asked this question often. EforAll and [these other incubation programs] all support entrepreneurs, but I think we stand out in several key ways. We focus on helping individuals from historically underserved communities — including women, immigrants, and people of color — to launch their businesses. Our programs are designed to break down barriers and create equitable opportunities. We also provide comprehensive hands-on support. And while Social Enterprise Greenhouse focuses heavily on enterprises and impact-driven businesses, at EForAll, we support all types of businesses, including small businesses, main street ventures, and traditional startups.

Q: What does this support look like?

Guillen: Our 12-week accelerator does include intensive business training and a structured curriculum with mentorship to help those entrepreneurs build sustainable businesses. Our program pairs each entrepreneur with two dedicated mentors to help provide ongoing personalized guidance.

Q: How much do these programs cost?

Guillen: All of our programs are 100 percent free. We’re removing any financial barriers that might prevent aspiring entrepreneurs access the business support they need.

We’re committed providing no-cost business assistance and support to all aspiring entrepreneurs in Rhode Island and Massachusetts.

Q: How does EforAll fit into your background?

Guillen: My background is in marketing and banking. My banking experience gave me firsthand insight into challenges that current small businesses face — from access to capital to building sustainable financial strategies.

Q: What kinds of businesses has EforAll Rhode Island supported?

Guillen: We support for- and nonprofit ventures, from ideas, concept, or early stages. We assisted Sierra Jones, who owns Luxurious Luminaries, the only black woman-owned business on the historic Thames Street in Newport. Her shop sells artisan candles and offers candle-making classes, but it also rekindles a forgotten legacy. In 1820, Black women “luminaries” lit Newport’s streets — now two centuries later, Jones carries their torch.

[Seymour Foods also launched with support from EforAll. It’s a community-driven grocery store founded by Lisa Kellogg and Chloe Fasano, and is designed to make local food accessible while supporting New England farmers. EforAll also helped launch Arcwood Jewelry, which was founded by Lincoln Pollock, who handcrafts sustainable rings for weddings and special gifts.]

Q: And you’re providing seed funding to the organizations that you work with?

Guillen: Throughout our 12-week accelerator and our pitch contest, there is some seed funding that is provided. For the pitch contest, it’s a set amount: We award the first-place winner $1,000, second place receives $750, and third place receives $500.

Q: Where does your funding come from?

Guillen: We rely almost 100 percent on the support that we receive from various organizations. It’s a combination of public and private sources. This includes corporate sponsorships and partnerships, grants, individual donors, and in-kind donations. But have not received any federal funds here in Rhode Island.

Q: Looking ahead, what goals do you have for the organization?

Guillen: To scale, and hopefully increase the number of our participants this year by at least 10 percent.

Q: What challenges do you face and how do you plan on overcoming them?

Guillen: The number one challenge we face is funding. There is a lot of money that’s out there, but it only goes so far and there are plenty of organizations doing great work out there. One thing that’s more in my control is to secure more volunteers to become mentors to help support the program. If I want to support 30 entrepreneurs during my next accelerator, then I need 60 folks to support through volunteerism. That can certainly be an uphill battle considering that we are not the only organization that seeks volunteers.

This interview has been lightly edited for length and clarity.

The Boston Globe’s weekly Ocean State Innovators column features a Q&A with Rhode Island innovators who are starting new businesses and nonprofits, conducting groundbreaking research, and reshaping the state’s economy. Send tips and suggestions to reporter Alexa Gagosz at [email protected].

Alexa Gagosz can be reached at [email protected]. Follow her @alexagagosz and on Instagram @AlexaGagosz.