Chicago Sky Foundation: Women-Led Business Investment
Chicago leaders address DEI challenges for women-owned businesses. Treasurer Valencia Conyears-Ervin, alderwoman Lee offer strategies for success.
Chicago Leaders Empower Women in Business, Address DEI Challenges
Updated July 01, 2025
Chicago city leaders are addressing diversity, equity, and inclusion (DEI) challenges faced by women-owned businesses.At a recent event, Treasurer Valencia Conyears-Ervin and Alderwoman Lee shared strategies for success, emphasizing the importance of representation and authenticity in the business world.
Alderwoman Lee, representing the 11th Ward, spoke about the meaning of her role in a historically overlooked community. She recounted an impactful moment when two Asian-American middle school girls recognized her, reinforcing her commitment to diversifying the city. As a single mother, Lee aims to inspire generational change through communal efforts.
Conyears-Ervin acknowledged the roadblocks women-led businesses face due to current DEI policies. She advised holding elected officials accountable, engaging with local chambers of commerce, and staying informed on legislation. She stressed that DEI is more than just terminology; it’s a lifestyle.
Valencia urged businesswomen to lead with authenticity and leverage local government, community, and networking. She highlighted the need for innovation and secure networks to increase capital access for women-led foundations, noting that only 4% of venture capital is invested in them nationally.
The panelists emphasized the importance of being assertive and unapologetic in business.Lee advised women to be straightforward and maximize their time. Conyears-Ervin shared her experiences with microaggressions as a Black woman in finance, underscoring the power of financial control and accountability.
Valencia promoted collaboration over competition, encouraging women to create spaces for shared ideas and mutual support. “We have to take care of one another; no one else is coming to save us. We’re here to save ourselves,” she said.
Keynote speaker Diane Primo, CEO and marketing expert, highlighted self-investment as crucial for women-led businesses. She advised women to build visibility to build trust, emphasizing that consumers buy the name behind the product.
Primo encouraged women to define their brand and repeat it often. She also cautioned against undervaluing solution-based products,viewing cash flow as essential and advocating for quick launches and adaptability. “Self investment isn’t intelligence. It’s infrastructure. Your business will never outgrow your leadership. So invest in you,” Primo said.
“I didn’t think that in my lifetime I would see somebody that looked like me serving on the city council,representing our community. I just didn’t see it. Shame on me for thinking that,” she said.
“Some people just use the terminology of diversity, equity, and inclusion as terminology. For me, it’s my lifestyle. For me, it’s how I live every day,” she said.
“We’re not going back where the husband signs a credit card for you. We’re not going back where you can’t get your own capital funding for your businesses to scale up,” she said. “There are ways to keep moving forward, even in the time that we’re living in.”
“Hold on to your power,because your finances,economics,that’s power. I knew that I was holding a checkbook, so whether you liked it or not, I’m going to hold you accountable. Why? Because, as I said earlier, I represent the people,” she said.
“We have to take care of one another; no one else is coming to save us. We’re here to save ourselves,” she said.
“First rule of business, visibility builds trust,” she said. “If people don’t remember your name, they won’t remember your what you offer.”
“Do not let others define who you are. Control it. Decide what it’s going to be, and tell it as frequently enough as you can-as many places as you can,” she said.
“Self investment isn’t intelligence. It’s infrastructure. Your business will never outgrow your leadership. So invest in you.”
What’s next
The ongoing dialog and initiatives from Chicago leaders signal a continued effort to support and empower women-owned businesses, address DEI challenges, and foster a more equitable economic landscape.