Smiling woman holding the door of her shop open, representing a woman-owned small business
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Cash Flow News Briefs

BMO Boost Her Sweepstakes Aims to Revamp One Lucky Woman-Owned Small Business

One women-owned business will be selected to receive a complete brand makeover.

BMO Harris Bank recently announced that in honor of National Women’s Small Business Month in October, it is introducing BMO Boost Her Sweepstakes, an event-based draw in which a woman-owned business will be randomly selected to receive a complete brand makeover valued at $20,000. The sweepstakes recognizes the power of women who drive our economy and improve communities across North America.

“There is a lot of excitement around the BMO Boost Her Sweepstakes because we’re offering a woman entrepreneur a chance to invest in her businesses’ growth by developing her brand with expert guidance,” said Niamh Kristufek, Head, U.S. Business Banking. “At BMO, we continuously look for innovative opportunities to support underrepresented entrepreneurs in the U.S. small business community through our BMO EMpower initiative.”

Helping a woman-owned small business reemerge from COVID

Pandemic restrictions continue to lift and businesses are in the process of fully reopening. Owners are responding to shifts in buyer preferences in their industry or market so they can make the necessary changes to expand and ultimately grow their business.

“Demand has shifted because of the pandemic, and many business owners had to change their product or service,” Kristufek said. “Entrepreneurs are seizing the moment to accelerate digital efforts – whether by adding an online storefront or increasing their social media engagement. BMO Boost Her Sweepstakes gives the lucky winner a wonderful opportunity to revitalize their brand.”

Sweepstakes rules

The sweepstakes is open to U.S. residents at least 18 years of age. They must have the authority to participate on behalf of the business. It began Oct. 12, 2021, at 9 a.m. CDT and ends on Oct. 29, 2021, at 5 p.m. CDT. To qualify, small businesses must be at least 51 percent owned or controlled by women or by individuals who self-identify as women. The woman-owned small business must be physically located (or have a headquarters mailing address) in Arizona, Florida, Illinois, Indiana, Kansas, Minnesota, Missouri or Wisconsin.

The business must also be for-profit with annual revenue of $5 million or less. It must currently be in operation in the United States. It must be selling a product or service for at least two years as of Jan.1, 2021. Additionally, the business needs to be in good standing with the entrant’s corresponding Secretary of State. To enter the sweepstakes, please visit BMOHarris.com/BoostHer.

BMO’s support for women business owners

Last month, BMO launched the BMO Women in Business Credit Program. This program is a loan product offered under the Women in Business initiative that began last year as part of BMO’s five-year, $5 billion BMO EMpower commitment. The BMO Women in Business program now includes expanded access to capital, education and partnerships. The goal is to remove historical barriers for women-owned businesses.

BMO also debuted a new Sustainability Innovation Hub to inspire young women. The Hub launched earlier this month in honor of International Day of the Girl. It will provide youth with the opportunity to connect with BMO leaders and discuss their vision for a sustainable future. More information can be found here.

About BMO Harris Bank

BMO Harris Bank provides a broad range of personal banking products and solutions through more than 500 branches and fee-free access to over 40,000 ATMs across the United States. BMO Harris Bank’s commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the United States. For more information about BMO Harris Bank, visit the company fact sheet. Accounts are subject to approval. BMO Harris Bank N.A. Member FDIC. BMO Harris Bank is part of BMO Financial Group, a highly diversified financial services provider. BMO Financial Group’s total assets are CDN$971 billion as of July 31, 2021.

Check out Groupon’s recent survey of more than 600 women small business owners trying to thrive in the COVID era.