5 Resources Woman Entrepreneurs Needs to Build Their Business
Did you know that there are already about 12.3 million women-owned businesses in the United States alone? Well, your business could be one of them.
With thousands of organizations, educational institutions, legal sources, etc. that prioritize helping women build their businesses, there has never been a better time for women to grow their businesses.
If you’re a woman looking to steer your business to the top, here are 5 resources to help ensure your success.
Access to Grants
Many organizations offer specific grants to help boost your business growth. While it is true that grant application is a tedious process, grants can still be a reliable way of business financing. Besides, unlike loans, you don't have to pay them back. You can apply for grants such as:
• Grants.gov: A government program that provides small businesses with a grant. • The Open Meadows Foundation: Provides grants to women-led small businesses.
• The Amber Grant: Provides grants to celebrate women entrepreneurship.
Access to Affordable Loans
Businesses rely on loans to operate and grow. SBA loans, which receive up to 80% backing from the U.S. Small Business Administration, are low-risk loans at preferable terms. As a woman entrepreneur with a start-up business, you can benefit up to $50,000, provided you have a strong credit score. There are other great options to try out, such as:
• The Tory Burch Foundation Capital Program: Offers affordable loans of up to $100000 to female entrepreneurs at a two percent interest rate.
• Accion Women-Owned Business Loans: Depending on your location and type of your business, can offer up to $50,000.
Women Success Stories
While there are many motivational materials available to inspire you to grow your businesses, success stories of fellow women are likely to inspire you more. There are lots of books, podcasts, and interviews that feature stories of entrepreneurs who overcame the ups and downs of business building. These stories can motivate you to take the necessary steps towards achieving your entrepreneurial goals.
For a start, check out our Women-Owned Stories section for great women entrepreneur stories.
Reliable Online Support
No matter your profession or business, there already exists an online community for you on platforms like LinkedIn, Facebook, Twitter, and Reddit. These platforms often prove useful for sharing ideas, answering each other's burning questions, and learning new tips. Other successful women entrepreneurs are already present on these platforms and frequently share helpful business ideas you may want to adopt.
Networking in business is inevitable. You need networking to build your team of mentors, partners, and so on. Attending professional events is one of the quickest and most effective ways of building your network. At these events, you connect with like-minded women of business who share similar struggles and dreams. You also get the opportunity to share your ideas with them.
Here are some events to attend:
• National Women's Business Conference: Aims to honor the progress and success of women entrepreneurs. The National Association of Business Owners (NAWBO) hosts the event. Hundreds of women gather to celebrate the milestones women have achieved in entrepreneurship.
• Women EmpowerX: Provides women leaders, executives, and entrepreneurs with the tools and knowledge they need when building their business.
Grow Your Network with Pailor Community
Growing your network not only influences your status growth, but also provides an opportunity for expanding your business. Pailor is one of the fastest-growing female business owner's communities in the U.S., with a platform that helps you network with other women entrepreneurs.