A new report from the U.S. National Women’s Business Council has confirmed what many of us already knew: women entrepreneurs rely heavily on personal savings to start a business because they have access to lower amounts of start-up capital.
As it stands today, almost no women-led firms use venture capital investments to expand.
Here’s the good news: The NWBC has done extensive research to prove that not only will more access to lucrative loans and investments lead to more profitable growth – but that now is the time to do it.
They didn’t just say it for the sake of saying it, either – they said it to a whole bunch of folks who can make the necessary changes happen.
In its annual report to President Obama, Congress, and the U.S. Small Business Administration, the NWBC stressed this limited access to capital as a major issue – one that’s holding back too many talented and capable entrepreneurs.
“The research that the NWBC has done shows that companies that are very well capitalized at their commencement essentially have a better survival rate and therefore probability rate. We’re in a great economic environment for women-owned businesses, possibly a perfect storm,” says Carla Harris, chairwoman of NWBC.
This is the kind of storm we can most definitely get behind – and while it’s a small step, it is most definitely a step in the right direction.
We’ll keep you posted regarding policy changes – and we’ll keep giving out Amber Grants because as any woman entrepreneur knows, every little bit counts.