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According to the U.S. Census Bureau, in 2002, women-owned 28.2%, or, 6.5 million businesses. That grew in 2007 to 28.8% or 7.8 million, and grew again in 2012 to 35.8% or 9.9 million. There seems to be no sign of the trend slowing down—women-owned businesses are on the rise.
But despite more women-owned businesses, the amount of business grants for women of loans, and general business assistance they receive trails far behind their male-owned counterparts. The U.S. government has an annual target of awarding 5% of all grants to women-owned businesses, but has never reached that goal. This means that over 95% of all government grants go to male-owned businesses. Only 4% of the total dollar value of all small business loans go to women-owned businesses, with women typically winning smaller loan amounts in general. This can be an incredible roadblock to creating and maintaining a small business.
Funding a small business can be challenging. Here are several small business grants for women and other resources to help with that first step of financing.
Women-owned businesses have a unique set of challenges. Because of this, a number of organizations exist to connect women entrepreneurs with training and other resources.
Along with grants and mentorship, there are several other places you can find support for your small business.
Running a business requires a team of people and lots of perseverance. While there are still unique challenges women entrepreneurs face, help is available. Take advantage of the above resources and follow your passion for business ownership.
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