If you’re a female entrepreneur, several grants programs provide you with funds that can be used for multiple small business funding needs.
Knowing where to look for small business grants for women gives you an advantage in financing your business launch or expansion.
The Financial Barriers for Female Entrepreneurs
Women have made significant strides when it comes to the number of small businesses owned. The Kauffman Foundation, which studies and supports entrepreneurship, noted in a 2017 report that the rate of new female entrepreneurs grew by 29.1 percent from 2007 to 2016. However, women still trail men substantially when it comes to starting new businesses overall.
As for securing capital, women face a steep climb, especially compared to male entrepreneurs. A 2018 report by the Library of Congress and National Women’s Business Council illustrates the sharp contrast among genders when it comes to small business funding:
Grants as Opportunity
Fortunately, there are many local, state, federal, and private sources for grants designed specifically for women. Here are a few:
At Benetrends, we strongly support women entrepreneurs in their funding strategies. Our Rollover as Business Startups (ROBS) program leverages your existing 401(k) and IRA assets to get you the money you need quickly to start and expand. To learn more, download Innovative Funding Strategies For Entrepreneurs.
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