2010 Chestnut Street
Philadelphia, PA 19103
Telephone: (215) 564-5500 • Facsimile: 215-564-0933
Devon M. Allen, 267-258-6861, Devon.Allen@verizon.net
Women’s Opportunities REsource Center Receives an AArP Foundation Grant
Philadelphia, PA (October 17, 2016) AARP Foundation has awarded one of the Philadelphia region’s premier economic development agencies, the Women’s Opportunities Resource Center (WORC), with a Work for
Yourself@50+℠ grant to assist low- and moderate- income
women and men to become self-employed. WORC is one of 17 agencies across the
country who was awarded the highly competitive national grant.
Work for Yourself@50+℠ is a new initiative launched by AARP Foundation, with support from The Hartford. The program helps low- and moderate-income older adults explore opportunities to work for themselves and take the right steps toward successful self-employment.
· For generations, creating and owning a business has been a path to financial success and economic mobility. In low- and moderate-income families, self-employment and business ownership can help build economic security.
· If you think you’re too old to start your own business, think again! About 26 percent of all recent startups were formed by people between the ages of 55 and 65. That’s up from 15 percent in 1996.
· Work for Yourself@50+℠ looks at self-employment paths in contracting, freelancing, microbusiness and social enterprise, and helps people identify their own marketable traits, talents and skills. It also offers useful financial advice — regardless of participants’ specific financial situation.
· The decision to start your own business can be both exciting and daunting. Work for Yourself@50+℠ breaks the choices down and gives you the information you need to succeed.
“We are so pleased to be one of the 17 groups selected to participate in this wonderful initiative with AARP Foundation. Self-employment is a great opportunity for 50-plus who have retired, lost their job or who want to scale back their work,” said Lynne Cutler, President of the Women’s Opportunities Resource Center.
Since 1993, WORC has taught approximately 5,000 low-income individuals how to start and run a business. It has disbursed nearly 600 microloans totaling over $2.5 million creating/retaining more than 1,516 jobs; and helped 1,412 FSA participants saved $2.9 million for a home, education or business through its savings program, generating a total economic impact of over $48.5 million.
Dooley’s Landscaping, a woman-owned business, grew out of Ms. Dooley’s desire to provide employment for herself and her son, who was formerly incarcerated. WORC originated a $4,000 loan for the company to purchase a professional lawnmower; within months, the business grew to employ three full-time staffers, including the owner’s son, and generated supplemental income for Dooley of $30,000.
Page – 2: AARP Foundation Award Grant to WORC
AARP Foundation’s Work for Yourself@50+℠ seeks to help low-and moderate-income adults age 50+, such as Ms. Dooley, 65, to gain the knowledge, support, and resources they need to make informed decisions and take the right first steps toward successful self-employment. The 90-minute workshop will walk participants through the Work for Yourself@50+℠ materials and connect them with local resources to help them reach their goals.
To learn more about the Women’s Opportunities Resource Center, the Start Smart Start Green Entrepreneurial Training program, WORC’s microloans; ranging from $1k to- $35k, Family Savings Account or Retirement Income Solutions programs, feel free to call (215) 564-5500; visit the official website at www.worc-pa.com like us on Facebook @Women’s Opportunities Resource Center; or follow us on Twitter @worcphilly. To register for one of the Work for Yourself@50+℠ workshops in November or December, call 1 888-339-5617.
For more information about Work for Yourself@50+℠, visit aarpfoundation.org/workforyourself or call 1 888-339-5617.
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Women’s Opportunities Resource Center (WORC) promotes social and economic security for economically disadvantaged individuals — primarily women — and their families through self-employment training, support services, savings programs and access to business and financial resources. WORC’s innovative self-help strategies empower individuals to permanently break out of the cycle of dependency. WORC has been nationally recognized for its work, receiving, among other awards, the U.S. Dept. of Treasury Presidential Award for Excellence in Microenterprise Development for Poverty Alleviation.
In October of 2015, WORC introduced a new initiative, the Retirement Income Solutions program (RIS), a four-week course that allows women 48 and older to assess their financial situations and develop an income supplement plan through self-employment or employment.
About AARP Foundation
AARP Foundation works to ensure that low-income older adults have nutritious food, affordable housing, a steady income, and strong and sustaining social bonds. We collaborate with individuals and organizations who share our commitment to innovation and our passion for problem-solving. Supported by vigorous legal advocacy, we create and advance effective solutions that help struggling older adults transform their lives. AARP Foundation is the affiliated charity of AARP. Learn more at aarpfoundation.org.
About The Hartford
The Hartford is a leader in property and casualty insurance, group benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at thehartford.com. Follow The Hartford on Twitter at twitter.com/TheHartford_PR.
The Hartford Financial Services Group Inc. (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Conn. For additional details, please read The Hartford’s legal notice at thehartford.com/legal-notice.