PHILADELPHIA, PA — Electro Soft, Incorporated formed its first advisory board after thirty-five years of being in business. The electronics company that focuses on custom manufacturing benchtop electronics, printed circuit boards, cable, wire harnesses, and box build assemblies, was started by James T. Wallace, Sr., from his kitchen table in the Philadelphia suburbs of Ambler over three decades ago.
Electro Soft, Incorporated is now run by Wallace’s daughter Karla Trotman after purchasing the company in 2020. Unfortunately, her expansion plans were immediately derailed by the impact of COVID-19, which brought on supply chain challenges, and the Great Resignation. But even with these challenges, Trotman managed to keep the company on track for growth.
“According to the Federal Bank of New York, Black business ownership declined by 41% during COVID. As the sole member of color in a CEO group in the Philadelphia area, I was able to take advantage of the information that my fellow CEOs were getting and were able to secure PPP financing for both rounds. I attribute my success in obtaining funding to my CEO group and that I had established a strong banking relationship before the COVID shutdowns. Had I not had a strong relationship with my bank and had a community of other CEOs, I hate to think about where the company would have landed.” – Karla Trotman, CEO, Electro Soft, Incorporated
During the first quarter of 2022, Trotman formed Electro Soft’s first advisory board with five professionals with diverse skill sets from mergers & acquisitions, organizational psychology, and finance to entrepreneurship, engineering, and CEO coaching. Trotman’s father, James T. Wallace Sr., also stayed on as a part-time advisor. Trotman realized the importance of having a network of CEOs and a board of advisors who would help support the growth mission of Electro Soft, Incorporated. To date, the advisory board has met once and has already created an aggressive strategy to take Electro Soft to the next level.
To learn more about Electro Soft, Incorporated visit www.electrosoftinc.com.
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