Traditional business lending is tight these days following a series of recent bank collapses but one program is helping small businesses grow, focusing primarily on women or people of color.

The ICA Fund offers a 12-week program called "The Accelerator at ICA" which focuses on strategy for growth, personnel, capital, and investment readiness.

Youngwon Lee, founder and CEO of Dokkaebier, an Asian-inspired craft brewery in Oakland, started the business in 2020 and now employs 20 people.

"It is very difficult for us to get opportunities or advice or help as a minority-owned startup," Lee acknowledged. "It's a great opportunity. They connect us with advisers, and actually give us a real-life practical advice and then walk you through the system to be more ready to grow, as well as take investment."

Once participants complete the program, they are eligible for seed money. Last year the ICA Fund served 117 Bay Area businesses, investing $2.4 million into 18 companies. The ICA Fund's business accelerator accepts applications four times a year and the next one is open now.

Allison Kelly, CEO of the ICA Fund, said participants join a cohort of peers and receive one-on-one mentoring with a series of high-caliber advisers.

"For entrepreneurs of color and women entrepreneurs especially, having a trusted network and a peer group helps build confidence, which is a big driver in business success," Kelly explained.

The program is funded by philanthropy and by the federal government. It is one of 10 nonprofit venture capital Certified Development Financial Institutions in the U.S., and the only one in California.


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A new report from the American Federation of Labor showed the pay gap between CEOs and their workers continues to widen and Iowa has among the biggest disparities in the nation.

The report found companies' production costs were down 3% in 2023 but consumer prices were up 3%.

Charlie Wishman, president of the Iowa American Federation of Labor, said company CEO profits are up 6%, even as more families struggle to keep up with a rising cost of living. Wishman pointed out the gap between the CEO and an average worker at a Casey's General Store in Iowa is among the highest in the nation.

"The average CEO pay to the median worker pay, the difference is 623 to 1, meaning the CEO was going to make 623 times more than the median worker wage at Casey's," Wishman outlined.

Wishman noted the Casey's CEO-to-employee wage gap has grown from about 40 to 1 in the 1980s. Casey's said it reviews its salary and bonus structure yearly to be sure they are competitive. Nationwide, the report said it would take more than five career lifetimes for a worker to earn what the average CEO is paid in one year.

The report listed several examples of huge corporate profit increases, including a 66% hike in the former Starbucks CEO's pay. Securities and Exchange Commission documents showed Laxman Narasimhan's compensation jumped from $8.8 million in 2022 to $14.6 million in 2023.

Wishman argued for the average Iowan, such numbers are hard to stomach.

"It's not just that there's so-called 'inflation' going on, that consumers are making 'too much money.'" Wishman asserted. "We actually think it's an excuse that's being used by a lot of corporations to charge consumers more."

In the Starbucks example, the report showed the cost of a medium coffee at the chain has risen by 20% in some locations and the company has doubled the number of points required to qualify for rewards despite its overall production costs going down.

Projections of South Dakota's job growth could lead to more degrees from technical colleges, which are seeing increased enrollment.

Occupational employment levels in South Dakota are expected to grow 7.7% through 2032, according to new data from the state, more than twice the projected national rate of 2.8%. The two occupations with the highest expected growth, at over 56% each, are nurse practitioners and wind-turbine service technicians.

Melodee Lane, director of the Labor Market Information Center for the South Dakota Department of Labor and Regulation, said the projections "reflect historical growth patterns."

"The big driving force between the occupational projections, the starting point is to project employment at an industry level," Lane explained. "Industry growth plays a large role."

Utilities-related jobs -- supported by a rise in electric vehicles, data centers and shifts toward renewable energy -- are expected to grow nationally at 0.6%. Several South Dakota technical colleges offer wind-service technician programs. Enrollment in the state's four technical colleges is at a five-year high, with nearly 75,000 students.

Other occupations with big projected growth in South Dakota are data scientists, information security analysts, physician assistants and physical therapist assistants. Lane pointed out it tracks with other cultural and demographic changes in the state.

"Such factors as consumer demand, growth of e-commerce, population growth, especially in the state's more urban areas," Lane outlined. "The needs of an aging population is a big one."

Nationally, an aging population and a higher prevalence of chronic health conditions is expected to drive the highest industry growth in health care and social assistance.


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Nebraska is one of three states with paid sick leave on the ballot next month.

Nebraska women are disproportionately affected by a lack of paid sick leave, since they are more apt to work part-time. Only around 12% of the state's part-time workers receive paid sick leave, including employees of Vis Major Brewing Company in Omaha.

Lindsey Clements, co-owner of the company, said everyone begins accruing sick leave their first day of training. She explained they implemented a paid sick leave policy in early 2023 after having trouble finding and retaining workers.

"It really was a need for us to add more value for our employees to attract some quality folks to come in and work for us," Clements explained. "We recognize we've got to do our part to take care of the folks that help operate our business from day to day."

The Paid Sick Leave for Nebraskans initiative is supported by more than 200 Nebraska businesses and dozens of organizations. Employers with fewer than 20 employees would have to provide 40 hours of paid sick leave per year, and 56 hours for those with more than 20. Nearly 250,000 Nebraska workers currently lack paid sick leave.

Opponents of Initiative 436 maintain it would create a financial burden for Nebraska businesses.
However, studies show the benefits of paid sick leave, including increased job satisfaction and productivity, lower turnover and better overall employee health, outweigh the additional cost to employers.

Clements noted this matches what they have experienced.

"Frankly, it's easier running a business when you allow for your people to take care of themselves when they are sick," Clements emphasized. "Because we have such a small team, we really can't allow one another to pass along illnesses."

While acknowledging providing paid sick leave will be a challenge for some Nebraska businesses, especially those for whom business has not completely returned to pre-pandemic levels, Clements recommends it.

"I think that with the hope that things will continue to pivot and improve, it's good to "normalize" these benefits that we're providing for our employees," she asserted.

Washington, D.C., 15 states and a number of municipalities require some amount of paid sick leave. Missouri and Alaska voters will join Nebraskans in deciding the fate of paid sick leave in their state this year.


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