CASE STUDY

Buttons & Bolts

Background

Throughout the world, female entrepreneurship is

on the rise. Women-owned businesses add trillions

of dollars to the global economy in yearly earned

income.1 With the passage of the United States

Women’s Business Ownership Act of 1988, women-

owned businesses have more than doubled

nationally,2 with both the number of businesses

owned by women and the percentage of businesses

owned by women continuing to grow. See figure to

the right.3

Despite these successes, female business-owners

continue to face challenges to entrepreneurial

development and growth disproportionate to their

male counterparts. Issues concerning fair access to

capital, limited training, and technical assistance

options, and opportunities to receive government

contracts2 coupled with stereotyping, coping with

work-life balance and the demands of motherhood

and limited networking opportunities1 all contribute

to the elusive glass ceiling. And these barriers are

compounded for women of color.4

For female-business owners, getting connected with resources – both capitol and technical assistance – are

critical to getting started and achieving success. Below we meet a female entrepreneur in Salem, Wisconsin who

found the support that she needed from her local community development financial institution (CDFI) to pursue

her small business dreams!

Buttons & Bolts Case Study | 2

Heather’s Story

When her local quilt shop closed, Heather Deegan saw a need arise

in her community. There was not another quilt shop in a 20-mile

radius, and finding high-end products online was challenging—the

look and feel of products is not easy to appraise unless you know

exactly what brands to buy. The big box stores were great on prices

but low in quality. Tired of the lack of options, Heather decided that

she wanted to open her own store.

In 2010, Heather attended a Small Business Administration seminar

at Wisconsin Women’s Business Initiative Corporation (WWBIC). She

loved the class and applied for funding at her bank. Heather was

approved for a loan, but she and her husband were nervous about

making the move to self-employment. When her job responsibilities

changed in 2013, Heather felt frustrated with the trajectory of her

professional career. She returned to her bank to reapply for a loan.

Unfortunately, due to changes in the loan criteria, Heather’s bank

told her she was no longer eligible…

Looking for a creative solution, Heather returned to WWBIC. She

was delighted by the knowledgeable staff, many previous business

owners themselves, who really understood her needs. Heather felt

she was treated as a person rather than a number. Feeling more

confident, she learned how to make a business plan and present it

to a supportive audience.

Since successfully receiving a WWBIC loan, Heather keeps in contact with her financial advisor. She trusts her

advisor to know the small business market in her area and to provide sound advice. For example, Heather is

considering whether to expand her business to sell sewing machines in addition to quilting materials. For

questions like these, Heather looks to her advisor for

sound solutions.

Heather and her employees stay up-to-date on the

latest materials and techniques by attending trade

shows and classes. She also offers her customers the

chance to provide input on what she carries. For

example, when customers commented that there was

a lack of blue fabrics available, Heather updated her

inventory. Despite the risks of setting off on her own

business path, Heather feels she made the right choice.

“It’s like the movie, Field of Dreams”, laughed Heather,

“At a certain point, you have to believe that if you build

it, they will come”!

Buttons & Bolts Case Study | 3

Social Impact

With advising from WWBIC, and the mindset of

supporting her client’s success, Heather has created

an environment that her clients know and love.

Most of her new clients are referred by word-of-

mouth, and Heather prides herself on the personal

relationships that she has built with her customers.

“We aren’t just selling fabric, we offer a service.”

Heather feels pride in the value-based standard of

quality that she provides her customers – “we stand

for something here…it’s more than just the bottom

line”.

Reflecting on her ever-evolving role as a small

business owner, Heather described the ways her life

has changed. Now when she goes to work in the

morning, Heather says she is doing something she

loves. Her work ethic and business savvy have grown

– she feels she is more perceptive about shortfalls of

other businesses, and she is constantly learning.

Heather is honest that the stresses of being a small

business owner are real. Heather works 7 days a

week and has a tough time getting a day off. Yet,

friends and family close to her say she is more

relaxed and happier in her new role. Heather has 2

employees that provide her with flexibility in her

own schedule. Heather also enjoys giving back to her

community. From creating quilts for patients at a

local cancer treatment center to saving quilting

scraps to create unique pillows for local animal

shelters, Heather’s work warms her community.

References

1. Nel, Maritz & Throngprovati (2010), Motherhood and entrepreneurship: The mumpreneur phenomenon.

International Journal of Organizational Innovation, 3:1, 6-34.

2. Cantwell (2014), 21st Century barriers to women’s entrepreneurship. Majority report of the U.S. Senate

Committee on Small Business and Entrepreneurship, 1, 1-37.

3. United States Census Bureau (2017), Women-owned businesses,

https://www.census.gov/library/visualizations/2017/comm/women_owned_businesses.html, Access date:

June 13, 2017.

4. Barr (2015), Minority and women entrepreneurs: Building capital, networks, and skills. The Hamilton Project

Discussion Paper. The Brookings Institution. 1-30.