Women couldn’t apply for their own credit cards until 1974. Fast-forward two generations and today 36 percent of American businesses are owned by women. More than 40 percent of all new businesses are women led/owned.
But despite women’s growing prevalence in the business world, revenue for women-owned businesses dramatically lags behind that of their male counterparts. This is due, in part, to startup capital. According to Access to Capital by High-Growth Women-Owned Businesses, women entrepreneurs launch with 50 percent less capital than men do.
Women are expected to start nearly 5 million businesses by 2018, but nearly half won’t seek any outside funding if changes aren’t made. These women have big ideas and all the skills to accomplish their dreams—we need to get them the capital they need to start, grow and run these new ventures.
In many ways, women are better equipped to deal with the 21st Century business landscape because of a few key traits — vision, boldness and people skills among them. Now, it’s just about establishing the framework for women to get the support they need — both financial and otherwise.
This resource-rich guide provides practical, actionable advice to help you start a small business or a mega company with key insights into the funding options currently available for women.