There are more women today starting a small business than ever before. Many factors contribute to this, but one of the major factors is the state of the economy. Women who may not have had entrepreneurial tendencies before are choosing to start their own business because they’ve lost their jobs and are having trouble securing a new one.
One of the first questions many have when considering starting a woman owned small business is “Where do I get the start-up money?” Actually, there are some resources available for financing a small business for women who are just starting out. The following is a list of resources to check out:
Small Business Administration, Office of Women’s Business Ownership
(www.sba.gov/womeninbusiness) – Women still have various obstacles to overcome in business. The Office of Women’s Business Ownership’s (OWBO) stated mission is to establish and oversee a network of Women’s Business Centers (WBCs) throughout the United States and its territories. Through the management and technical assistance provided by these centers, entrepreneurs, especially women who are economically or socially disadvantaged, are offered comprehensive training and counseling on a vast array of topics in many languages to help them start and grow their own businesses. The SBA has prepared “SBA Direct Resource Packets” for every region of the country with up-to-date contact information for SBA field offices, lenders making SBA loans, and counseling services.
Federal Money Retriever
(www.fedmoney.com) – This is a software database containing information on all U. S. federal government grant and loan programs. The site lets you do a free trial research to see some of the grants that are available. A specific grants for women category is available at http://www.fedmoney.com/grants/su0232.htm
Count-Me-In
(http://.count-me-in.org) – This is a fundraising organization that raises money from women for women. Available loans range from $500 to $10,000. Underwriting consideration is given to an applicant’s experience as well as credit history. This program also offers scholarships for girls. This looks like a promising program.
Even in this challenging economy, there are still resources available for financing a small business for women who are ready to go for it. If taking on debt is a little scary, however, there are still businesses that women can start with minimal financial outlay. There are many online internet-based businesses, where you can set yourself up in the beginning and then enjoy residual income for years to come. Those types of businesses will be covered in another article. To read more about the one I chose, you can click on one of the links below.
Lori Somekh is an attorney and a business owner. She resides in New York and helps women transition into online business ownership. http://FastProfitWeb.com. (Nothing in this article should be construed as legal advice).
