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Women Entrepreneurs Continue as a Driving Force

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Women Entrepreneurs Continue as a Driving Force

Bansree Parikh,
Bank of America Market Executive, Commercial Banking for the Inland Empire

By Bansree Parikh, Bank of America Market Executive, Commercial Banking for the Inland Empire

As national Women’s Small Business Month comes to a close, now is a perfect time to commemorate and reflect upon the October 1988 passage of the Women’s Business Ownership Act. Prior to the passing of this legislation, women were required to have a male relative as their co-signer on business loans.

A lot has changed in 31 years in the Inland Empire and the rest of the United States.

In 2018, there was an estimated 12.3 million women-owned businesses, accounting for 40 percent of all businesses and generating $1.8 trillion in revenue, according to the National Women’s Business Council 2018 report. In the Inland Empire, the percentage of women-owned businesses is slightly above 40 percent, according to the most recent Census data. An analysis by the UCR Center for Economic Forecasting showed the rate of growth of women-owned businesses in the Inland Empire after the recession outpaced the rest of California. Indeed, female entrepreneurs have truly become a driving force in the nation’s economy, starting new businesses at a higher rate than ever.

Women small business owners are poised to end 2019 on a high note, with 84 percent anticipating year-over-year revenue growth, according to Bank of America’s 2019 Women Business Owner Spotlight. In the Inland Empire, this optimism is buoyed by a 2.3 percent growth in jobs – the highest in Southern California – over the past year.

To better understand this thriving community of business owners, Bank of America surveys women business owners annually across the country to gain insights into their goals, aspirations and concerns.

Notably, this year’s survey found that women entrepreneurs are more confident in their revenue, hiring and expansion plans compared to their male counterparts.

For example:

  • 73% plan to expand their business over the next 12 months (vs. 66% of male business owners, and up from 67% in 2018)
  • 62% expect their revenue to increase in the year ahead (vs. 55% of male business owners, and up from 58% in 2018)
  • 25% are planning to hire (vs. 23% of male business owners, and up from 21% in 2018)
  • 52% of women entrepreneurs are confident their local economy will improve (up from 49% in 2018)

Mixed with this optimism and momentum were reflections on the challenges of establishing and financing a small business – including the extent to which gender bias may play a role. For example, more than half of women entrepreneurs say they don’t feel that they have the same access to capital as their male counterparts.

When reflecting upon positive influences on their success, more than half of women business owners identified external factors like experiencing adversity, obtaining a college degree and having a mentor have helped them achieve success. This is an especially important factor for women small business owners in the Inland Empire region, which rates as one of the lowest metros in California in educational attainment for women.

When asked for the single character trait that has had the greatest impact on their business success, women entrepreneurs identified integrity (23 percent) as the top personality attribute, closely followed by perseverance (22 percent).

Looking to the future, business owners agree that having more women in positions of influence would be the most impactful in paving the way for the next generation of women in business.

And we couldn’t agree more.

As the nation’s leading small business lender, with approximately 40 percent of the 12 million small business owners we serve being women, Bank of America recognizes just how vital the role of women is in driving economic growth.

Education, training and networks play key roles in entrepreneurial success, which is why we have formed partnerships to connect women entrepreneurs to these resources. Through the Tory Burch Foundation Capital Program, we have committed more than $50 million to help female entrepreneurs grow their businesses. For the sixth consecutive year, we also partnered with the National Association of Women Business Owners (NAWBO), serving as the presenting sponsor of the annual Women’s Business Conference.

We are proud to do our part by providing the capital, opportunities and tools women entrepreneurs tell us they need to help launch and grow their businesses, so that they have the power to advance their businesses and make significant contributions to our economy.

For more research findings on the 2019 Women Business Owner Spotlight, please click here.

 

The Inland Empire Business Journal (IEBJ) is the official business news publication of Southern California’s Inland Empire region - covering San Bernardino & Riverside Counties.

Business

Ontario Set to Open Newest Play Street Museum Location

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A children’s museum and indoor play area that lets imaginations wander open soon to local community 

Play Street Museum, an interactive children’s museum and indoor play area purposefully designed to encourage a young child’s sense of independence, exploration, and creativity, will be opening its newest franchise location in the coming weeks in Ontario, California. Locally owned by Teresa and Sergio Carreras, the coming location marks a key milestone in an expanding franchise program, with its first location in California. 

“We’re thrilled to bring the newest Play Street Museum to Ontario for our local community to enjoy,” shared Teresa and Sergio Carreras. “After visiting Play Street Museum with our grandchildren, we knew we had to bring a location to California, and we’re excited to share it with the community and hope it serves Inland Empire families in big ways.” 

“We’re proud empty nesters and even prouder grandparents of five wonderful grandchildren. Becoming grandparents has been one of the greatest joys of our lives. This season of life has given us the opportunity to slow down and truly savor the wonder of childhood again,” continued Carreras. “We look forward to welcoming local families, schools, and community groups to experience everything the new Play Street Museum has to offer.” 

Teresa and Sergio Carreras believe children learn best when they’re having fun and can touch, build, pretend, and explore. Every exhibit at Play Street Museum Ontario is designed to spark curiosity, creativity and confidence. Whether children are running a pretend grocery store, experimenting with simple science, creating art, or climbing into imaginative worlds, children are learning skills that will stay with them for a lifetime. “This space is not just for kids. It’s for grandparents who cherish story time in a cozy corner. For parents who light up watching their child try something new. For caregivers who treasure the laughter and togetherness of play,” shared Carreras. 

Play Street Museum offers an expansive, rotating curriculum at each location specifically designed for children under nine years of age. Everyday and every week is different at Play Street Museum, providing motivation and justification 

for a scheduled time in families’ busy calendars. Play Street Museum Ontario also offers one-of-a-kind birthday parties, complete with comprehensive themes and options for parents from “Do-It-Yourself” to “Sit Back & Relax”, in addition to special events and activities during evenings and weekends. 

In Scientific American’s article, “The Need for Pretend Play in Child Development”, Yale professor Dr. Scott Barry Kaufman summarized the last 75 years of research by declaring imaginative play as a “vital component to the normal development of a child.” By narrowing the focus of Play Street Museum and its indoor play areas to the interests and imaginations of children eight and under, young explorers discover educational exhibits and activities in a world specifically crafted just for them. The deliberate and manageable scale enables children to self-navigate throughout the children’s museum and indoor play area to engage deeply in activities about which they are most interested and passionate. This freedom reinforces independence in the child and also has the benefit of creating a more relaxed and accommodating museum experience for the caregiver. 

“Play Street Museum is thrilled to welcome and open the Ontario location soon with our incredible partners, Teresa and Sergio Carreras. As parents and grandparents, they understand the powerful impact of play and intentionally sought to bring its benefits to this part of the Ontario area. They’ve taken their passion for children, education, and play and applied it to building a dynamic, local business that will support the health and well-being of their own community,” commented Play Street Museum Founder and CEO, Courtney Muccio

Located at 910 North Haven Avenue, Suite 150, the new Ontario location makes the extensive, and well researched benefits of play easily accessible to the local community. The museum’s team of highly knowledgeable associates can provide guidance on additional opportunities to expand the play and learning, either on site or at home, from corresponding activity kits, to pottery, to slime kits, to sensory kits. Customers can also book their play time in advance in addition to schedule birthday parties or private events. 

Families and customers can visit 

https://www.ontario.playstreetmuseum.com/ to book playtime, birthday parties, field trips, and to check out special events. 

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Business

Sweet Success: The Inland Empire Regional Chamber of Commerce Teams with The Freaky Cookie to Elevate Local WBENC-Certified Business

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How The Freaky Cookie Grew with Chamber Support: A WBENC Success Story in the Inland Empire

At the Inland Empire Regional Chamber of Commerce (IERCC), we pride ourselves on championing business growth and recognizing the powerful stories of our members. One standout example is Sheila Cavalier, founder of The Freaky Cookie—a fun and rebellious cookie catering company she launched in 2018 alongside her son, Marcus.

What began as a direct-to-consumer venture has grown into a business-to-business powerhouse, fueled by innovation, strategy, and strong community ties. The Freaky Cookie specializes in custom-labeled, individually wrapped cookies for corporate gifts, bulk orders, and special events. Their nostalgic family recipe, dating back over 90 years, delivers both flavor and flair. As Cavalier puts it, “There’s never not a need for a large amount of cookies.”

Recognizing a unique market opportunity during the pandemic, Sheila pivoted the business model to focus on custom-branded cookies—meeting the surge in demand for individually packaged baked goods that also serve as creative marketing tools. “Corporations were tired of traditional marketing,” she recalls. “Our custom-labeled cookies became a fun, fresh alternative.”

In 2022, Sheila connected with IERCC President Edward Ornelas Jr. during the Multi-Chamber Mixer at Ontario International Airport. That meeting led to The Freaky Cookie joining IERCC, which soon opened doors to strategic partnerships and increased visibility. Through the chamber’s vast network and advocacy, Sheila has built relationships with organizations such as Bank of America, Fifth Third Bank, Top Golf, and Southwest Airlines, which featured The Freaky Cookie in their 50th Anniversary celebration at ONT.

“The IERCC has been a warm and welcoming space,” Cavalier said. “Having the chamber validate our business really means something. It’s helped us get our foot in the door with so many great companies.”

The impact has been tangible. With increased revenue and expanded operations, The Freaky Cookie is no longer just a clever name—it’s a growing force in regional commerce. As Sheila puts it, her goal now is simple but powerful: “Deliver smiles.”

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Fire Helmet Manufacturer Helps Disabled Community find Employment

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Riverside’s Phenix Technology Leads with Inclusion, Empowering the Disabled Community Through Workforce Training and Employer Education

Written by Logan Rosselli, IEBJ Content Contributor

In the heart of Riverside, off of Chicago Avenue, a small, but mighty team has been quietly manufacturing life-saving equipment for firefighters across the world for over 50 years. Phenix Technology Inc. is an internationally recognized fire helmet manufacturer who builds their products from start to finish right here in the Inland Empire. For their great products, they’ve received numerous awards such as the Greater Riverside Chamber of Commerce’s 2025 Innovator of the Year, a 2016 “E” for Exports award from the U.S. Department of Commerce, a finalist position in the “Coolest Thing Made in California” competition and more. However, their most recent accolade doesn’t involve their products at all.

In 2024, Phenix founded the ground breaking “Opportunity for All” program to provide disabled community members with the opportunity to access career education, hands-on experience and employment opportunities through an 11 week training cohort. In this program, neurodivergent individuals wanting to find stable employment learn about standard hiring practices, writing a resume, effective interviewing and professional attire while getting on-the-job training with a partnered employer in the community. It has helped dozens of disabled community members to find a new sense of independence and achieve their full potential while helping local employers find dependable employees who bring a unique perspective to the workplace.

It’s for this program that the National Association of Workforce Development Boards (NAWB), a representative of over 570 workforce development boards across the United States, honored Phenix with the prestigious W.O. Lawton Business Leadership Award in late March.

“While we take tremendous pride in the products we make, we also believe we have a mission to create a better world through developing opportunities,” said Angel Sanchez, CEO of Phenix Technology in a statement released in early April. “Opportunity for All has helped prove that individuals who have historically been excluded from the workforce don’t just contribute — they elevate organizations. We are honored to receive this national award and grateful to the partners who have helped us make this vision a reality.”

CEO Angel Sanchez Jr. accepts the NAWB Award

CEO Angel Sanchez Jr. accepts the NAWB Award

Though “Opportunity for All” is certainly the cornerstone program for the company, Phenix’s leadership team was not satisfied to leave their mission there. Thus, in 2024, the company founded its nonprofit arm, Phenix Gateway to offer more programs and advocacy to the community. Through Phenix Gateway, the company offers workforce development workshops for individuals who don’t need the full scale of the “Opportunity for All” program, but want to improve a specific skill like resume writing or workplace social skills.

However, Phenix knows that preparing disabled people for the workforce is only one end of the equation; the workforce also has to be prepared to accept the unique skills, perspectives and challenges of the disabled community. For this reason, Phenix Gateway offers employer training workshops as well as educational materials available to businesses and the community. Training programs cover a lot of ground, ranging from assistance with optimizing interviews for people with neurodevelopmental disorders to creating sensory-friendly environments in the workplace.

In Riverside, these programs have had a huge impact on the local community. As of March 2025, Phenix’s Opportunity for All program has had over two dozen participants and 44% found stable employment through or after the program. Their one-off workforce development workshops have seen over 200 participants learn new skills and help them find employment and the nonprofit currently partners with close to 90 businesses to assist them in their endeavor to create a more inclusive workforce.

Phenix Gateway staff helps a program participant with his skills

For businesses or community members interested in learning how they can support or participate in these programs, Phenix encourages them to reach out by email to info@phenixgateway.org and to attend their First Annual Gala: Rising Together, A Phenix Gateway Celebration, on Thursday, May 15th. Tickets for this event are available at phenixgateway.org.

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