How impact investing can bring a little lift to big dreams — and more diversity in business ownership

Microsoft is also working with First Women’s Bank to develop new learning, networking and business development opportunities for the entrepreneurs through the WIT Network  and Cloud Accelerator programs. 

Aisha and Ruth Miller each brought their own unique skills and aspirations to their business, which officially opened on June 5. Born and raised on the south side of Chicago, Ruth Miller worked as an educator and principal prior to becoming an entrepreneur.  

She’d always longed for more autonomy. When she retired, she originally aspired to open a daycare or school, but learning about Tropical Smoothie Café’s business model — and her love for the food and drinks the stores serve — convinced her to start a franchise with her daughter. 

She even carried her passion for child education into her new business venture: She plans to incorporate various initiatives, including reading incentive programs, for the kids who attend neighboring schools.  

“I kind of felt that maybe if I had my own business,” she says, “then I can do things my way.”  

Aisha Miller studied business administration at Howard University, earned her MBA from the University of Michigan and now works full-time as a technology and digital transformation consultant. At the café — nestled between other shops on Cicero Avenue in Burbank, Illinois — she focuses on the marketing and strategy of the franchise while her mother handles the day-to-day operations.  

“I think we work really well together,” she says. “I think the older you get, your relationship with your mother evolves so it’s less mother-daughter and more like, I don’t know, two best friends doing a business venture together.” 

Neither had ever owned a business, so when they decided to make the leap, they liked the idea that First Women’s Bank’s was the first commercial bank in the U.S. that was founded, owned and led by women with a mission to help other women succeed. They say they also found the support they needed there. 

“Being the first in our family and the first of my friends to do anything like this, it was kind of important to go with them because they are also the first — it felt historic in that way,” reflects Aisha Miller. “They wanted to know about us, like who were we as business owners? What was our vision? They just felt invested in us as people, and invested in our dream.” 

Now the Millers are creating their own impact in the community. They have hired 28 part-time employees, a racially diverse group including many high school and college students.