Nearly half of women-owned small businesses surveyed said they plan to expand in 2024.
Leah Niehaus, owner of LCSW & Associates, a Hermosa Beach business that that provides mental health counseling, psychotherapy, and group therapy to families and adolescents, is expanding her operation. It was made possible through a $25,000 grant from Bank of America. The bank also helped her get an SBA loan.
“I was able to buy the suite we’re in and also expand into the space next door,” the 48-year-old Manhattan Beach entrepreneur said. “This will expand the business from a three-therapy suite to six suites, and it will double our services.” During the worst of the COVID-19 pandemic, Neihaus said her employees wore masks and met with families and groups outdoors, often in apartment courtyards. Students who were forced to learn through ZOOM sessions and classroom settings wearing masks lost out on vital social interaction, she said.
Angela Antonio, a regional executive with BofA’s small business division, said the grants have opened doors for women and minority entrepreneurs. Hiring expectations are also slightly lower in that demographic, with 43% planning to expand their payrolls next year, compared with 45% in 2022.in Diamond Bar, is also expanding, thanks to a $25,000 grant from BofA’s Small Business Down Payment Grant program.
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