To Support Low-income Older Adults And Generate Small Business Growth
June 29, 2015 — HARTFORD, Conn.–(BUSINESS WIRE)–The Hartford has committed $1.4 million to AARP Foundation to extend the initiative to help low-income older adults assess opportunities to become entrepreneurs and create microenterprises.
“We are thrilled to sponsor the Back to Work 50+ program to educate and inspire older Americans who are interested in developing their own small businesses,” said Diane Cantello, vice president of Corporate Responsibility at The Hartford.
“By encouraging entrepreneurship among older Americans, this program will help foster small business growth and contribute to the vibrancy of our communities.” The three-year sponsorship, which broadens The Hartford's long-standing relationship with AARP, is part of The Hartford’s national philanthropic program.
Communities with HART nurtures the well-being of America’s communities by inspiring new generations of business leaders, enabling underserved neighborhood business owners to achieve growth and engaging the community in neighborhood business support.
“Older adults are redefining traditional approaches to work and careers,” said Lisa Marsh Ryerson, president of AARP Foundation. “While many want to continue to work or advance in their current jobs, a growing number want to generate income by using their talents and skills to start their own business or microenterprise. Through this effort, AARP Foundation stands ready to help by equipping them with the information and skills they need to achieve their goals.”
Communities with HART Celebrates One-year Anniversary
The announcement of this new sponsorship comes on the heels of the one-year anniversary of The Hartford’s Communities with HART Program, a five-year initiative aimed at benefiting small businesses and supporting students through partnerships with the Accion U.S. Network (Accion) and Junior Achievement USA (JA).
In its first year, The Hartford announced a $1.25 million partnership with Accion to help small business owners who experience difficulty in accessing the traditional loans they need to sustain and grow their businesses. Accion manages the loan process, which focuses on community-oriented businesses in low-and-moderate income areas that hire and source locally, deliver social value and make a positive difference in their neighborhoods.
With an initial focus in four key markets – Chicago, Hartford, San Antonio and San Diego – Communities with HART also provides training and web resources to help small business owners succeed.
The Hartford is also helping to inspire the next generation of small business owners as the title sponsor of the JA Company Program®, which includes a new online blended learning model and offers students the opportunity to launch their own small business while learning the basics of entrepreneurship, financial literacy and work readiness. With the help of a $1.5 million investment, JA has already seen more than a 25 percent increase in the number of JA Company Programs being conducted since the new program was rolled out across the country at the end of last year.
About AARP Foundation
AARP Foundation is working to win back opportunity for struggling Americans 50+ by being a force for change on the most serious issues they face today: housing, hunger, income and isolation. By coordinating responses to these issues on all four fronts at once, and supporting them with vigorous legal advocacy, the Foundation serves the unique needs of those 50+ while working with local organizations nationwide to reach more people, strengthen communities, work more efficiently and make resources go further. AARP Foundation is AARP’s affiliated charity. Learn more at www.aarpfoundation.org.
About The Hartford
With more than 200 years of expertise, The Hartford (NYSE: HIG) is a leader in property and casualty insurance, group benefits and mutual funds. The company is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at www.thehartford.com. Join us on Facebook at www.facebook.com/TheHartford. Follow us on Twitter at www.twitter.com/TheHartford.
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