What Are Some Resources for New Female Entrepreneurs?
The existing gender imbalance in the business and entrepreneurship world is not news to anyone. According to Microbiz data, women receive only 16% of all small business loans. What is more, 82% of startups do not have a single female founder.
The good news is that there are many platforms, networks, groups, and other resources that support women entrepreneurs. This means that if you are a female entrepreneur in the process of starting or growing your business, you don’t need to do everything on your own.
The BOSS Network
Bringing Out Successful Sisters or “BOSS” is a networking membership organization and platform mainly targeting African-American female entrepreneurs. This organization promotes multicultural women’s business development.
37 angels is a female investor community with the mission to train and educate more women about investing. It was founded by Angela Lee, an adjunct professor at Columbia Business School. The organization offers its members to participate in investor boot camps in New York City and online to learn angel investing skills.
EY Entrepreneurial Winning Women
The “Ernst & Young” Entrepreneurial Winning Women program helps female-led companies with revenue exceeding $2 million to scale. This executive program and national competition feature events, networking, and education initiatives all year round.
This organization targets African and Latin-American female startup founders. Among its offerings is #ProjectDiane, a 29-week program on acquiring tech entrepreneurship skills.
Tory Burch Foundation
The foundation supports female entrepreneurs through education, capital, and fellowship initiatives. Moreover, it offers a program in partnership with the Bank of America, which provides access to low-cost loans mediated by community lenders. Tory Burch also offers management and business education to female owners of small businesses through a partnership with Goldman Sachs. Their fellows program includes a year of support, workshops, a chance to win a $100,000 grant, and a $10,000 award.
National Women’s Business Council
The NWBC offers consulting on issues of significance and impact to female business owners and entrepreneurs. It hosts business incubators, competitions, training programs, and conferences both online and at physical locations across the country.
The Small Business Administration
The SBA has a number of programs and guides for female business owners. The Women’s Business Ownership Office, their internal organization, hosts training programs for businesswomen looking for access to capital or credit and advice on business development and counseling. These services are offered on a regular basis. In addition, the SBA supports women-led businesses in every stage of growth and development with resources and information.
Female Founders Fund
The FFF launched in 2014 to invest in tech companies in their early stages founded by women. Among their areas of focus are platforms, marketplaces, e-commerce, and web-enabled products and services.
National Association of Women Business Owners
The NAWBO is a national organization offering women access to a virtual online learning platform to acquire strategies and develop skills to grow their business.
SoGal Ventures, which first started as a community group, invests in US and Asian startups with female founders. They cater to any business in the pre-seed to Series A startup stages. The organization is entirely female-led and terms itself as the first millennial venture capital fund of its kind.
Final Thoughts on Resources for Women Entrepreneurs
These resources can be highly beneficial to female entrepreneurs, and it is essential to take full advantage of them. The more efforts women make to help themselves, the better our business prospects and outcomes will be. According to the Small Business & Entrepreneurship Committee, women get less than 4.4% of all business funding, despite owning almost one-third of U.S. businesses.