Local Government Programs that Provide Funding to Women Business Owners

Philadelphia gets it. Given an opportunity, women business owners can compete in national and international arenas. And when volleying for local support, they don’t need a long time to present their case. They know their businesses, industries and the market that well.

Ramping Up to Earn a Million Dollars This Year

At the start of October Philadelphia hosted a “Make Mine a Million $ Business Competition” for areas women business owners. The prize? Definitive business counseling and other support tools. Goal of the program is to help larger numbers of businesses owned by women reach the million-dollar mark within three years. To achieve this goal, Make Mine a Million and other organizations provide funding, education, advice and mentoring opportunities to women business owners.

As reported in PhillyBurbs’ October 4, 2011, “Women Business Owners to Compete for Growth,” article American Express and Count Me In for Women’s Economic Independence, a national non-profit business focused organization, launched the competition in 2005. Participating Philadelphia area women business owners had a whooping two minutes to present their companies. Talk about having your elevator speech ready.

Consulting Concepts, owned by Mary Scheetz, was one of the companies aiming to win this year’s Philadelphia competition. Scheetz consulting firm works with call centers. She’s worked with agencies like the U.S. Centers for Disease Control and Prevention. The bulk of her staff is comprised of independent contractors.

More Help for Women Business Owners

Efforts like “Make Mine a Million $ Business Competition” are needed. To start, there are over 8 million women owned businesses in the United States. However, less than two percent of these companies generate $1 million or more in annual sales. Furthermore, less than two percent of women owned businesses employ 10 or more people.

In addition to initiatives sponsored by organizations like Make Mine a Million and American Express, women business owners can find support by contacting:

• Small Business Administration Office of Women’s Business Ownership
• WomenBiz.gov
• State departments of minority business enterprises
• Departments of Commerce and Economic Development
• National Association of Women Business Owners
• American Business Women’s Association
• Women’s Business Enterprise National Council
• Women’s Business Development Center
• Organization of Women in International Trade
• Business and Professional Women International
• International Women Business Owners Society

Akin to women who participated in Philadelphia’s “Make Mine a Million $ Business Competition” women in the United States and abroad are encouraged to start talking about finances, marketing and sales strategies with other leaders in their industry. Doing so can shed light on unknown opportunities and women business growth initiatives. Networking with other entrepreneurs can also help women business owners learn about  new government and privately owned organizations that provide funding to women business owners.

Of course, by networking with other business leaders, women develop valuable relationships with like-minded entrepreneurs. This can keep them from feeling isolated or like they’re going it alone as they face the challenges and rigors of business ownership and management.

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Sources:

http://www.phillyburbs.com/news/local/business/women-business-owners-to-compete-for-growth/article_a1fee536-acd9-5b79-aa4b-a4a35a3b3572.html (Philly Burbs: Women Business Owners to Compete for Growth)

http://www.sba.gov/about-offices-content/1/2895 (Small Business Association: Office of Women Business Ownership)

http://www.womenbiz.gov/faq.html (Women.Biz Gov: FAQs)

http://www.makemineamillion.org (Make Mine a  Million)