Are you a woman entrepreneur with an amazing firm?Do you have passion, customers, solutions, employees or contractors, energy, focus…
BUT no TIME?
Chances are that you are Underfunded.
According to the National Women’s Business Council, women fund businesses pretty much like everyone. Just take a look …
Uses of Funds for Women
- More than half (55.5%) of women-owned businesses used personal or family savings to start or acquire their business (versus 60.3% of all businesses).
- One in ten (10.9%) of women-owned businesses used a personal or business credit card (versus 10.4%)
- Only a tiny bit (.4%) used a business loan from government (.7% of all firms) or a government guaranteed business loan from a bank (.5% of women-owned firms, .7% of all firms.).
The main difference is in size!
Women tend to create and run smaller firms, ask for smaller loans, use less funds from family, almost none from friends, or angel investors,) and very few seek Venture Capital (2.7% of firms invested by VC funds are led by women, who create and run over 36% of all firms).
Regardless of the debate on access to capital, data indicates that women do not get funded. Many people want to change these numbers, I am one of them. There might be many reasons why women are not getting funded, but there is ONE CLEAR ACTION that will definitely make a difference: EDUCATION.
It is in the spirit of making things happen that I launched the Women Get Funded initiative. For now, a comprehensive program to help women UNDERSTAND how to fund their businesses and MANAGE the funding process. Through 10 weeks we cover the funding process from A to Z, the three main funding mechanisms (Unfunding, equity and debt, including many sources of funds: crowdfunding, grants, founders, angels, VCs, banks), as well as negotiation and valuation. We work together on in groups, discuss specific challenges or opportunities, have checklists, webinars and invite guest speakers.
I encourage you to join our newsletter, and follow up on twitter or facebook, to receive tips, information about grants, webinars open to the public and to be notified about our next enrollment period.
Let’s change the numbers
PS: and if you know of an amazing woman entrepreneur that needs this program, share it!