The Wurwand Foundation — a foundation that connects local entrepreneurs with funding, coaching and community through their key initiative, FOUND/LA — has committed to donating an additional $125,000 to David Nazarian College of Business and Economics’ Small Business Consulting program at California State University, Northridge. The foundation’s total giving to the program over time is $425,000.
“We couldn’t be more thrilled to commit to a long-term partnership with CSUN,” said entrepreneur Jane Wurwand, co-founder of the skincare company Dermalogica and The International Dermal Institute and co-founder of the Wurwand Foundation. “The single most persuading factor for us was the students. I thought, ‘This is the energy, this is the hunger, this is the tenacity that makes successful entrepreneurs.’
“The education those business owners receive can open them up to other opportunities, within their own business and in partnerships with others,” she continued. “They become part of a like-minded community. It’s an incredible program and we can’t wait to see what comes out of it.”
Chandra Subramaniam, dean of the Nazarian College, said those at the college are “beyond appreciative of the Wurwand Foundation’s continued generosity.”
“This is a critical time for small business owners,” Subramaniam said. “The additional support from the Wurwand Foundation allows us to expand our resources and reach to provide these businesses with more assistance. The gift also enables us to fulfill our mission of preparing our students for career success and to be a force for a better future, by giving them the opportunity to gain real-world experience and make an impact on the surrounding community.”
This latest gift from the Wurwand Foundation will be used to support teams of top Nazarian College undergraduate students as they provide consultation to small businesses. Each semester, teams of three to five students will be formed to provide consultation to businesses in the areas of marketing, cash management, strategy, business development, long-range planning and more.
Students in the program take on businesses that bring in an annual revenue of at least $100,000, although students and faculty reserve the right to take on clients who have a smaller revenue threshold, if they believe the students and the small businesses can benefit from the partnership.
“We are grateful to the Wurwand Foundation for partnering with the Business Honors program,” said Silvina Bamrungpong, who leads the Small Business Consulting program.”Providing support and resources in this current environment for local small businesses is more vital than ever before. Students in our program are keenly aware that their consulting role extends far beyond the typical classroom experience. They have witnessed first-hand how transformative their contributions can be to the clients we serve. Together with Wurwand, we can continue helping sustain small businesses while empowering future generations to impact our community significantly.”
In light of the decimation of small businesses during the COVID-19 pandemic, the Nazarian College is expanding its small business consulting services by increasing the number of faculty and students involved in this valuable program. By doing so, college officials anticipate supporting 30 small business clients in the 2020-21 academic year, and increasing the number of small business clients served in 2021-22.
Wurwand Foundation’s support of the Small Business Consulting program led to the program being named among FOUND/LA’s Local Business Boost organizations. FOUND/LA is an initiative of Wurwand Foundation, which was created by Jane and Raymond Wurwand, founders of the skincare company Dermalogica. Dermalogica is now a global brand, and every product is still made in Los Angeles. The founders’ experiences in the salon industry taught them the blueprint for success in small business and sparked their idea to support other entrepreneurs.
CSUN’s David Nazarian College of Business and Economics has been providing small business consulting for more than 20 years, serving more than 300 small businesses in that time. The college’s Business Honors Program has provided consulting support to more than 60 local, small businesses since 2013.