Tag: Leadership Program for Women

What Women Business Leaders Should Know About Taxes, Loans, & Grants

Katie Roth is a writer, artist, and entrepreneur. Originally from Alabama, she now resides in the UK with her husband and two dogs, and works with clients and other business owners in Europe and the USA.

Women in business still face too many hurdles, and unfortunately 2020 has only exacerbated them. Common issues like securing adequate funding or accessing much-needed resources have been complicated by the coronavirus. COVID-19 has brought about unprecedented challenges not just for women, but for the global business community. As we all learn how to manage our new reality in 2021 and look forward to a slow emergence from the grips of the virus, it is time for people to give real thought to how they might bring about new success in business once more.

It’s with that in mind that we’re looking at some important things Alabama’s women business leaders should know regarding taxes, loans, and grants.

Taxes

Regarding taxes for business leaders, there aren’t necessarily points to make that are specifically relevant to women. However, there are some simple reminders worth keeping in mind for anyone who is starting or attempting to grow a company.

The first reminder is that Alabama is considered to be a particularly favorable state when it comes to personal tax — which can free up some funds to manage business expenses. Just this year, an article ranking state income tax rates listed Alabama in a tie for 10th place (meaning 10th lowest), with a rate of 2-5%. Given that some states have personal income tax rates of 10% or more, it’s a good idea for women to consider launching businesses in Alabama. The slight but meaningful financial cushion allows for more business investment opportunities.

Additionally, registering as an LLC can compound the benefits you get from the favorable tax situation. LLC structure in Alabama is such that a business with this sort of official standing is actually not taxed as its own entity. Instead, owners simply pay income tax on what they make from the business. This means that rather than having a hefty, separate tax on business earnings, you can simply enjoy that same 2-5% rate on business-related income. That said, LLCs are subject to something known as a “business privilege tax,” which relates to the company’s net worth. Still, it’s worth running the numbers on the idea, because particularly for a newer or smaller businesses, the net benefit of the LLC structure can be significant.

Loans

Where loans are concerned, Alabama is again an appealing state for new, small businesses. Recent years have seen lenders give out nearly $1 billion in loans to small businesses— spread out over more than 50,000 individual arrangements. These numbers, given the size of the state and the number of people working in small businesses, justify the notion that Alabama has actually been one of the better states to secure a business loan.

As for specific loan funding for women-led businesses, we’d recommend keeping an eye on a Birmingham support program known as “Upward,” which was designed specifically to help women leaders in business — particularly now as we all look to move forward from COVID. It’s just the sort of resource that has become invaluable to such leaders in communities where women in business are seizing more opportunity — offering leadership coaching, help with goal setting, network support, and more.

Grants

In the grant department, there is more business aid to be found with specific regard to the coronavirus crisis. In July, we saw the announcement of the $100 million “Revive Alabama” grant, which was designed to help fund struggling small businesses. The $100 million was pulled out of $1.9 billion that Alabama received in total from the federal CARES Act, and it was made available to businesses earning less than $5 million annually and employing no more than 19 people. The hope is that additional grant packages of this sort will be made available to small business leaders once again if and when the federal government signs off on another relief package.

There are also some more accessible grants available. Most notable among these is the Amber Grant. Launched by WomensNet, this is a $10,000 grant given out to at least one woman in business each and every month. It also involves an additional $25,000 bonus given to a single “winner” at the end of each year. It’s an excellent example of what a program meant to stimulate innovation among women entrepreneurs can look like.

Funding a business and managing its finances is difficult, but for women in Alabama looking to endure the coronavirus and thrive in business thereafter, being aware of everything discussed above can amount to a helpful head start on the financial front.

How to Fit a Retreat into a Basket

Momentum’s executive programs usually begin with a two-day retreat, relaxing near a forest or pond. This year, we had to get creative in welcoming our new class! With a little help from Alabama Goods, Momentum logistics manager Katherine Thrower arranged locally sourced happies to create a “retreat in a basket.” Unlike the traditional fruit basket, each item had meaningful significance that was referenced in our sessions (don’t worry…we made room for snacks!). The whole Momentum team took part in dropping off baskets at each participants’ house to ensure they would feel celebrated!

“The retreat is about making them feel special because they are special,” says CEO April Benetollo. Each participant was analyzed based on their background, professional experience, and stage in life. If they were selected this year, “it’s the right time for them to be doing this.” This well-rounded group connected in breakout sessions and interactive activities to start the year off right. While the retreat focuses on emotional intelligence and awareness, the executive program shifts into different themes throughout the year.

Have you ever wondered what makes Momentum’s programming unique? We don’t just proofread your resume and send you on your way with a handout on teamwork. Momentum was founded with the goal of creating intentional relationships and personal growth.

  • The retreat sets the forecast for the rest of the year, asking participants, “Who are you?”
  • The next quarter focuses on the participant’s strengths and talents, asking, “How could you be directed to bring you more joy and value to your job/community?”
  • After that comes the real work. “How do you get there?” Momentum offers negotiation skills and resilience training to prep participants for the final stage.
  • Looking forward, the question remains, “How do you take that beyond you? What can you bring to your job, community, family, etc.?” Participants are encouraged to volunteer or join a local board to become more engaged with their community. In terms of professional growth, class members learn tactics to claim visibility, accept recognition, and share expertise with future game-changers.

Whether you’re in a program or not, Momentum has a place for you! Join us as a mentee or mentor today to meet more inspiring women in your community.

Affecting Change to Eradicate Sexual Harassment in the Workplace

Holly Moore, Marketing Intern

In light of the multitude of recent reports regarding sexual harassment, we need more than conversations on the topic. We need actions that can eradicate comments and activities of this nature from the workplace. With so many of these scandals in the news, we know the problem is pervasive and transcends industry, age, race, religion, geography, and economic class . Recently there has been a reaction on Twitter regarding these events with the #metoo movement. Many individuals had the courage to share their personal experiences of sexual abuse, harassment, and impropriety, which has encouraged others to follow suit in coming forward. Now we need to turn talk into action to make the workplace a safe environment where everyone can bring their “best selves” to work.

According to the American Association of University Women (AAUW) sexual harrassment generally “describes unwelcome sexual advances, requests for sexual favors, or other verbal or physical conduct of a sexual nature,” but it is not limited to that. It is also a pattern of improper belittling tones, sexist comments, subtle actions, or a hostile, sexualized work environment. Part of this definition comes from a recent article, which also includes the following tips for victims.

Credit Image: © Frank May

For the individual dealing with sexual harassment in a work environment:

In the wake of much criticism of the women coming forward– “why now?” and ” how can she prove it?”– we need more conversation about why it’s so hard for victims to come forward. Many victims fear career suicide; they cannot afford losing their jobs or the retaliation that they may receive while fighting for their rights. According to Kathy Caprino, CEO of Fairygoddess, on top of retaliation, there is also the bystander effect (meaning others were watching and did not take action therefore the victim does not feel that their experience will be heard) as well as the influence and pressure of a male-dominated culture.
Here are a few tips for the individual who is the target of sexual harassment:

1. Record every incident (even if the actions on their own seem small and seemingly unimportant) and all the details of who was involved, when and what occurred. Make sure to write them down in a non-work device, so that you will have them in case you are let go without warning.
2. Follow your company’s formal complaint channel, but act quickly. Many lawyers say that victims wait too long to come forward and their cases become time-barred.
3. The complaint channel activates “the company’s legal obligation to do a prompt, thorough investigation, make findings, protect the victim and punish the perpetrator. If that does not solve the problem and there’s more sexual harassment and if there is retaliation, which is illegal, then she [or he] needs to reach out to a lawyer,” says Caprino. Most lawyers provide a free initial (confidential) consultation that will inform the victim of their rights.
For the bystander
 
“Everyone knew. But no one said anything,” is how John Baldoni, an executive coach and educator, began his article on the subject, which seems to be a theme in most workplaces. According to Baldoni “silence equals complicity” because in most cases the harasser is not the only one aware of what is occurring. This is not simply a corporate level issue; individuals also have responsibility in these situations. Baldoni explains how currently there are few prevention answers. Either the victim can complain to HR (where the complaint will most likely never be addressed) or they can talk and engage in conversations about it, but neither of these actions are a sufficient response. Neither of them affect any kind of change. So Baldoni shares helpful tips for the individual seeking change.
1. Hold each other accountable as individuals to stand up and protect one another.
2. Believe the victim and take the complaints seriously, whether you have the power to do anything about it or not according to this article about how to navigate sexual harassment in the work place.
3. Don’t engage in sexist jokes. Draw the line; show your coworkers you don’t put up with those ideals and attitudes.
 
For companies that want to be better about sexual harassment policies:
 
Victor Lipman, executive coach and author, wrote in an article  saying that “companies should be preventers, not enablers” of these kinds of behaviors. While there are many discussions regarding whether or not non-disclosure agreements regarding this topic should be legal, there are actions that companies need to take to mitigate the problem.
1. Make a policy regarding the issue and publish it for all employees to see. Baldoni says to make it as clear as possible during new hire training so that they know without a doubt what the policy is.
2. Make it a zero-tolerance policy. One-strike, you’re out.
3. For the HR department and management, do more than simply create a new policy in a rule book. Discuss these policies so employees know that they carry weight.
4. While anti-retaliation policies are illegal, ensure that everyone at your company explicitly knows this.
5. Remove mandatory employee arbitration clauses (they are illegal and forbid lawsuits) but they also silence victims and they protect sexual offenders.
In order for the culture to change, adjustments have to be made on every level of a company from every policy that is made to every employee’s actions to the CEO’s actions and opinions to a company’s newest hire. While there are many different ways to accomplish this, Dana Walden, chairman and CEO of Fox Television Group, said that “There must be women in the highest ranks on every corporate board. Our recruiting and our training has to be oriented to ensure that we’re identifying and nurturing future generations of female leaders.”

MOMENTUM Announces Leadership Class 2016-2017

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MOMENTUM, Alabama’s premier women’s leadership program, announces its 2016-2017 leadership class with a kick-off luncheon and orientation at Birmingham Botanical Gardens on Wednesday, September 21, 2016. Keynote speaker  Olivia Affuso, PhD, UAB Department of Epidemiology, delivered an inpiring message on what we can accomplish when we embrace adventure and surround ourselves with strong supporters. The luncheon was followed by an orientation for the class, led by MOMENTUM CEO, Barbara Royal.

 “MOMENTUM’s class members are selected from a wide variety of roles, such as legal, finance, HR, operations, marketing, and services, and across many industries including engineering, journalism, healthcare, banking, insurance, construction and more,” says Barbara Royal, MOMENTUM’s CEO. “Despite the diversity in their occupations, these classes consistently discover that they have many things in common and so much to share in terms of leadership and support.”

What’s in store for MOMENTUM’s New Class

Following orientation, the 2016-2017 class traveled to Muscle Shoals, AL, for a two-day retreat to begin the nine-month  training and mentoring program.   Monthly sessions will include topics such as communication, negotiation, strategic planning, resilience, and work life integration strategies.

Upon graduation in May 2017, these 27 women will join almost 330 alumnae of MOMENTUM and bring the number of companies, governments, and nonprofits involved in MOMENTUM to 140 organizations across the state.

2016-2017 Class Members

Lisa Arrington
Director of Human Resources
Balch & Bingham

Emily Boohaker
Associate Chief Medical Officer Quality & Patent Safety
UAB Health System

Paige Boshell
Partner
Bradley Arant Boult Cummings LLP

Mary Beth Briscoe
CFO of UAB Hospital and UAB Medicine Clinical Operations
UAB 

Susan Coan
Director, Organizational Learning
and Development
UAB

Kathryn Evans
Administrative Director, Orthopedics and Neuroscience Service Line
Brookwood Baptist Medical Center

Molly Harrison
Senior Vice President, Services
Daxko

Ira Hodges
Director, Internal Audit and Controls
HealthSouth Corporation

Wendy Hoomes
Assistant Comptroller
Alabama Power Company

Kimberly Jackson
Manager, SE Business Operations
Honda Manufacturing of Alabama

Angela Jarrett
Vice President, Claims and Benefit Administration
Blue Cross Blue Shield of Alabama

Christy Lemak
Professor and Chair of Health Services Administration
School of Health Professions, UAB

Sandy Littleford
VP & Senior HR Partner
Protective Life Corporate

Patti Lovoy
Director of Development
Lakeshore Foundation

Carol Maxwell
Manager, Vulcan Foundation
Vulcan Materials Company

Hope Mehlman
Senior Vice President, Assistant General Counsel, and Assistant Corporate Secretary
Regions Financial Corporation

Lori Moler
Vice President, Customer Service
Children’s of Alabama

Desiree Morgan

Vice Chair for Education
University of Alabama Hospital

Margaret Ann Pyburn
Executive Vice President
Cobbs Allen

Mandy Schwarting
Director of Pipeline Management
Alagasco

Sarah Kay Sexton Wos
Senior Vice President, Director of ERM & Risk Transformation
BBVA Compass

Sheri Snow
Wellness Manager
AMERICAN Cast Iron Pipe Company

Susan Stabler
Senior Project Manager
Brasfield and Gorrie

Anna Velasco
Executive Director of Medicaid and Regulatory Affairs
VIVA Health

Tammy White
Director, Organizational Development
and Learning
St. Vincent’s Health System

Kelly Willis
Controller and Vice President
Synovus Mortgage Corporation