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How to Take Women-Owned Businesses to the Next Level

March 7, 2019 | Small Business Loans
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Over the last 30 years, women across the nation have tripled the number of businesses created to more than 11 million. While that feat deserves a standing ovation, the glass-ceiling battle is far from over.

Women-owned businesses represent 30% of all U.S. small businesses. But they’re only getting 16% of conventional small business loans and 17% of SBA loans, shows a study by the U.S. Small Business Administration.

The great news is, we can all step up and do our part to support women entrepreneurs. Consider these tangible ways you can help female-led companies succeed:

Speak with your pocketbook: Be a customer.

In this new age of consumer activism, you can make a statement with your wallet. Savvy brands like Nike, Gillette and Lyft are increasingly embracing social causes to win the hearts, minds and wallets of customers.

If you want to make a difference now, support women-owned businesses large and small. Have you ever sweat through an Orangetheory Fitness class? Or maybe you proudly carry around a S’well water bottle? Both companies were founded by women.

How do you find women-owned businesses?

Knowledge is power: Mentor female entrepreneurs.

Are you a former or current business owner and want to give back to the entrepreneur community? Consider volunteering your time to help a female founder. The options are plentiful; here are a few to consider:

Show them the money: Finance women-owned businesses.

What’s the No. 1 reason businesses die? Lack of business capital to keep the business running.

Being undercapitalized is an especially big issue for women-owned businesses. Not only are they only seeing a small slice of traditional and SBA loans, they’re also experiencing a venture-capital funding gap.

Related: 3 challenges for female business owners and to fix them

Since 1978, community lender and nonprofit CDC Small Business Finance has served the entire small business community. But we’ve specially targeted historically underrepresented groups like women entrepreneurs. We invite you to join us as we continue to support, value and invest in women-owned businesses.

As a lender focused on growing and reviving neighborhoods, we proudly serve all small business owners, especially traditionally underserved communities such as women entrepreneurs. CDC Small Business Finance provides affordable, attainable loans to business owners in all stages and sizes.

Tell our loan experts about your business, and they’ll work to match you with a financing plan that best suits you. Let’s talk! Reach us at loaninfo@cdcloans.com or (619) 243-8667.

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5 responses to “How to Take Women-Owned Businesses to the Next Level”

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