National Women’s Small Business Month Twitter Chat Recap
In celebration of National Women’s Small Business Month, we co-hosted a Twitter chat with Women's Business Development Center (WBDC), Community Reinvestment Fund, USA (CRF) and CDC Small Business Finance to share resources and advice with women small business owners.
Below is a brief recap of the questions and a sample of the great tips and information shared during the chat. For more resources and advice, visit our online portal Venturize.org.
Q1: Why is women’s entrepreneurship so valuable to our economy and our communities?
If female entrepreneurs were financed to the same degree as their male counterparts, we’d create six million jobs in North America alone in the next five years. This is a huge economic engine we haven’t even tried to engage. #WomenInBizChat
Women #entrepreneurs are the heart of our communities. They are founding their own ventures at 2.5X the national rate, employing more than 8M people nationwide. Last year, we funded 1,394 #WomenOwned businesses and supported over 7K with advising services. #WomenInBizChat #NWSBM
Q2: How and why should I register my business as woman-owned?
The Women-Owned Small Business certification is a program coordinated by the Small Business Administration (@SBAgov) with the goal of giving women-owned businesses easier access to the resources they need to grow their business. #WomenInBizChat #NWSBM
#WomenOwned businesses can qualify for lucrative government contracts and there are lots of great resources online to help you register your business as woman-owned. Check out this article on our website on what to know: https://bit.ly/31SyMzs #WomenInBizChat #NWSBM
Q3: What kind of loan programs are available for women business owners?
Women’s Business Development Center @WBDC
To generalize, 2 kinds: 1: @SBAgov provides financing through #banks. You don’t go to #SBA, you go to your bank. 2: nonprofits in your community. #ChicagoBiz can check out https://bit.ly/2MQU77U. Everyone else can check out https://www.sba.gov/local-assistance
Small Business Majority’s National Women's Entrepreneurship Manager Geri Aglipay @randomIntention
Peer-to-peer lending is a great option, but it takes careful planning. Work with an @ASBDC center to maximize the results and to learn about working capital position and products for your needs. #WomenInBizChat #NWSBM
Q4: Traditional lending can be stacked against women business owners. What are some responsible alternative lending options?
A Community Development Financial Institution, or CDFI, is a great way for women #smallbiz owners to get their hands on secure & reliable capital. CDFIs have competitive rates and come with support and mentoring. Learn more: http://ow.ly/Xb2s50wWDEV #WomenInBizChat
Women’s Business Development Center @WBDC
(1/2) Be wary of super fast, easy and online. Our friends @AccionUS have great advice.
(2/2) And let's not forget @Kiva_us which is a non-profit crowd lender, both in the US and internationally.
Q5: What are some of the best resources for women business owners to tap into?
CDC Small Business Finance @cdc_loans
@ScoreMentors, SBDCs and WBDCs offer great business advising services. There’s also free business coaching through non-profits, like us, to help you prepare for financing. Here’s a list of coaching options and where to find them: http://bit.ly/free-sm-biz-coaching-tw. #WomenInBizChat
(1/2) For our Midwestern #smallbiz owners in the audience, we also recommend @WBDC who has a number of resources for women small business owners including mentors, help with certifications and veteran services. Check them out: http://ow.ly/pY8J50wWDFT #WomenInBizChat
(2/2) @AWBC_USA has over 100 Women’s Business Centers (WBC) across the country. Your local WBC can connect you with events, networking opportunities and more. Check them out: https://awbc.org #WomenInBizChat
Q6: Is your organization or business doing anything special to celebrate National Women’s Small Business Month that you’d like to share?
We love to spotlight #WomenOwned businesses! For example, Accion in San Diego celebrated our 25th anniversary at the beginning of the month and we awarded the Accion-funded #WomenOwned business Luna Norte with the Entrepreneur of the Year award. #WomenInBizChat
We’re committed to women-owned small businesses every month! Women-owned businesses comprise 45% of the small businesses @Connect2Cap has matched with partner lenders in the last four years. http://ow.ly/KmUU50wWIJf #WomenInBizChat #NWSBM