Professional Resources for Women in Business

Know Your Hurdles and Get On the Inside Track to the Capital or Support You Need

Throughout the past several decades women have leapt into the business world and created their own businesses in droves. As of 2014, women owned more than 9.1 million firms, generating $1.4 trillion in sales and employing nearly 7.9 million people in the U.S. 1


These numbers may look exciting, but there are still many hurdles women face on the path to professional and entrepreneurial success. The gap is slowly being bridged, but discrimination continues to exist. Fortunately, there are a slew of resources and even “free money” (in the form of grants) to help close the disparity and income gap.

In this guide, I’ll point you directly to the some of the most relevant resources available to women in business, so you can use this “weakness” as a strength as only a savvy entrepreneur could!


Understand the Gender Gap

According to an American Express report, the percentage of women-owned businesses has increased by 68% since 1997. Also, women are starting businesses in the United States at 1.5 times the average rate.2

However, there are still many obstacles and inequities facing entrepreneurial women and the firms they launch.


1. Wage Disparity

More women are graduating college each year than men, and yet there is still an undeniable income gap. U.S. women earn on average 78 cents to each male dollar, a ratio that has been stagnant for about 15 years.3 The wage gap continues even as women start businesses.

It’s important to not there’s much more to the issue than gender discrimination. According to the World Bank, women are most likely to open up businesses in the informal or traditionally female sectors, which generate lower revenue.3 This may be most relevant in some non-U.S. countries where women are restricted from leaving the home. However, American women still predominate in lower-paid so-called caring professions such as teaching and social work, and those gaps travel with them as they create new businesses.

Unfortunately, even in these lower paying industries, wage gaps are present. For example, women-owned businesses in transportation and trucking earn about 85 cents to every 1 male dollar, while women-owned retail businesses earn only 15 cents to the male dollar.5

2. Difficulty Securing Funding

Despite generally having proven creditworthiness,6 female-run businesses struggle to attract funding. Women-owned businesses tend to be overlooked compared to male counterparts when applying for grants and loans.6 According to research from the Diana Report, only 15% of venture capital-backed businesses funded between 2011 and 2013 were women-owned, and companies with a female CEO only received 3% of all venture capital dollars in that time.8

7% of all venture capital money goes toward women-owned businesses

The disparity in funding severely limits how fast and large women-owned businesses can grow, and how agile these companies can be. It may also limit the kinds of risks they can take.

3. Social and Cultural Hurdles

In many cultures around the world, women are still expected to work within the home, which can limit business opportunities. In the United States, working women with families still do more housework than their male partners, which can curtail the amount of time these women have to focus on outside projects when starting up.


Globally, under-educated women may lack the skills and training that their male counterparts possess to take their businesses up to the next level.4 For example, lack of familiarity with technology and IT infrastructure can prevent a budding clothing manufacturer from starting an online store.

Women also face significant confidence hurdles. When polled, 62.1% of men said they felt capable starting a new business as compared to 47.7% of women.7

However, there are many exciting developments, even within these constraints. Women worldwide are opening up businesses within their own homes. There are an increasing number of “mompreneurs,” including single moms, stay-at-home moms, and moms who are otherwise employed. Of course, not all women choose to become moms, and many are also joining the entrepreneurial ranks.

Women-owned businesses have the potential to empower others, stimulate job creation, inject cash into the economy, and create workplace environments that may be more conducive for work and family balance. Though there are hurdles, they aren’t unknown or ignored. In fact, there are many organizations dedicated to helping women-owned business and female entrepreneurs. Let’s take a look at what they are so you can support your business ideas.


Grants, Loans, and Investments: What’s the Difference?

These terms are easy to confuse, but the distinctions are clear.

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Government Resources

National and state governments provide numerous funding resources for small businesses, with many targeted at women.

Access Financing Wizard

This interactive tool created by Business USA should be one of your first steps in your search for government funding. Just answer a few questions about where you’re located, who you are, and what kind of business you run, and the tool will suggest the most relevant resources. The filter feature means you won’t have to waste time sorting through a mass of grants, most of which won’t apply to you.

Small Business Innovation Research Program

Powered by the Small Business Administration (SBA), the Small Business Innovation Research Program (SBIR) encourages businesses to engage in research and development, particularly those with potential for commercialization. On this site, you’ll find similar programs, like the Small Business Technology Transfer (STTR) and the Federal and State Technology Partnership (FAST), which promote technology research and implementation. These grants aren’t exclusively for women, but if your business ideas fit into the parameter, they are worth applying for. You can search for open grants for women in business on the SBIR search platform.

SBA 7(a) Loan Program

Not content to stop with grants, the Small Business Administration also offers loans to small businesses with a demonstrated need for funding. Check out the SBA’s eligibility requirements as well as their loan amounts, fees, and interest rates, and their repayment terms.

Personally, I had an unsatisfactory experience applying for an SBA loan for Ideal Bite, but you may have better luck if your business idea is a better fit for their specific programs. However, few businesses should rely on the SBA as a source of funding.

Your State Development Website

In addition to federal grants, every state offers grants to small business owners, and many also set aside grants specifically for women entrepreneurs. The New York State Business Programs website, for example, details their many different kinds of loans, which are targeted towards different demographics, different regions in the state, and different industries. Check your state website to determine what statewide grants are available to you.


Grants & Loans for Women-Owned Businesses

There are many private organizations and businesses that offer grants and loans to women-owned businesses, either as a core mission or as part of their community impact efforts. This is just a sampling, there are many more out there to hunt down!

Women in Business


Women’s Business Loans

As helpful as resources like the SBA may be, as of September 2014 only 13% of the dollars loaned out were secured by women-owned firms. Women’s Business Loans, an organization created by the U.S. Women’s Chamber of Commerce (USWCC), seeks to bring some balance to those numbers with 3 services:

Low Cost Term Loans: Operated in partnership with LendingClub, this loan is for firms with $75k in annual revenue, ownership of 2+ years and a FICO credit score of 620+ with an ability to repay. This is a great option for women-owned businesses who are looking for loans to grow, but don’t want to jump through the SBA’s many hoops, or to deal with banks and alternative lenders. Assistance and Consultation: This is for USWCC member firms that don’t qualify for the easy term-loan process from Lending-Club. This service provides one-on-one consultations and assistance on finding and getting capital in different places. Education, Training, and Mentoring: Securing a loan is only the first part of the process. If you’re getting a loan for the first time, you may need help understanding how to plan for that inflow of money, project and track your cash flows, and consider your market and distribution. With this service, members can attend U.S. Women's Chamber of Commerce meetings or contact the Commerce via live chat on the site.



Eileen Fisher Business Grant Program for Women

This grant awards up to 5 grants of $12,500 each to wholly women-owned businesses. To be eligible, your business’ mission must include social consciousness, environmental sustainability, and innovation. You must be a for-profit or a for-profit/ non-profit hybrid. This program is more about business re-invigoration than it is about starting up, since your business needs to have been in operation for at least three years.

Tory Burch Foundation Capital Foundation

In conjunction with Bank of America, the Tory Burch Foundation offers female entrepreneurs affordable loans by connecting women with community lenders (i.e. lenders within the local community that target provide credit and financial services to underserved populations). To qualify, you must have a sustainable business operating for at least two years, and a satisfactory credit rating. You can begin the application process by filling out a loan pre-screening form.

Even if you’re not interested in funding, the foundation provides excellent business education programs for women and networking opportunities.

Cartier Women’s Initiative Awards

Just starting up? The Cartier Women’s Initiative Awards may fit your needs. The winner of this award will receive $20K in funding, 1 year of coaching, and access to an array of networking opportunities. To participate, submit your business proposal online. From there, 18 finalists will be chosen from Latin America, Europe, Sub-Saharan Africa, Middle East and North Africa, and the Asia-Pacific). Finalists fly to France to present their business plans and projects in front of a panel.

FedEx Think Bigger | Small Business Grant Program

Though not specifically targeted at women, the $75K of award money available through the FedEx program, Think Bigger, makes it well worthy of entrance. There is a public voting phase for the judging, which provides an excellent PR and marketing opportunity, empowering you to promote your business and gain access to capital all at once.

Idea Café Small Business Grant

The Idea Café is a free site that regularly features different kinds of grants ranging in type, award amount, and the targeted demographic. You can sign up as a free member to keep on top of them all.

InnovateHER: Innovating for Women Business Challenge

Sponsored by the Small Business Administration (SBA) Office of Women’s Business Ownership, this challenge awards three winners $70k in Microsoft-sponsored prize money for businesses that impact the lives of women and have the potential for commercialization. The competition begins in localities. Each host organization nominates their winners to advance to the semi-finals, and the winners of that event will move to the national finals in Washington, D.C.

Chase LinkedIn | Mission Main Street Project:

Chase and LinkedIn have partnered to award 20 small businesses $100K each in grants, as well as a trip to the LinkedIn headquarters. You can check out the program rules to see if you qualify.

Bank Loans and Grants

Aside from the partnerships already listed, many big banks such as Bank of America and Chase host grant competitions through their charitable arms, in addition to providing small business loans.

Small local banks and credit unions usually can’t provide loans that are as large as their big counterparts, but many also offer grant opportunities that you’ll be more likely to get as a member of the community. They also often offer business development resources and community centers. Check out Texas’ UFCU for a good example. Head to your local bank’s website for more.


Angel, Seed, and Venture Capital Resources for Women-Owned Startups

Women are vastly underrepresented in the tech sector, a point that’s very clear when you focus on the startup community. Each year, only about 7% of venture capital is invested in management teams that include women. Fortunately, numerous organizations have sprung up to address this problem.

First, a Quick Guide to Investment Lingo

Friends & Family Round: Most companies start their fundraising process by asking friends and family. This is the easiest fundraising process to complete, but you run the risk of spoiling close relationships over money and the valuation of shares. I recommend you only ask for the money you truly need to get your business started, then seek funding from other avenues.

Angel Investor: A High Net Worth Individual who invests in your business in exchange for ownership of a part of your company or convertible debt.

Seed Funding: Capital that is used to start a business. Seed funding often comes from the founders’ bank accounts, family members, or venture capitalists.

Venture Capitalists: Much like an angel investor, venture capitalists also invest in your business in exchange for part ownership in your company or a portion of your profits. However, they typically are Limited Liability Partnerships rather than individuals, so they can afford to invest millions rather than hundreds of thousands. They also tend to invest a little later than angel investors—typically for what is called Series A investment round. This pooled investment allows them to risk more, and their goal is typically to take your company public or have it acquired so they can gain a very large return.

Private Equity: These investments are generally made by private equity firms, VC firms, or angel investors. Simply put, it’s working capital in exchange for shares of a private company.


Now that we’ve covered some key terms, let’s jump into a list of Angel and VC groups that aim to support female entrepreneurs.

Golden Seeds and Golden Ventures

U.S. women business owners have lucked out with Golden Seeds and Golden Ventures. As one of the largest and most active early stage investment firms, GSGV focuses on women leaders, having invested more than $70 million in startups to date. In order to be eligible, your business must have:

A scaleable business model: This means that you’re looking to grow big, rather than sticking to a small market. They’re looking for companies that can eventually address a market of $1 billion or more. Investment seekers should be looking for $250K to $2 million in funding. Female leadership: Women founders, CEOs, and entrepreneurs all count, as long as they clearly have leadership within the company. Clear opportunity plus proof of concept: A customer-tested product in beta is preferred but not required.

There are further criteria for businesses operated within certain industries like Consumer Products and Life Sciences.

Women’s Venture Capital Fund

For early-stage, West Coast-based, women-owned businesses, the Women’s Venture Capital Fund invests in diverse teams creating focused on digital media and sustainable products and services spaces. Businesses must be efficient, scalable, and experienced, and they must offer unique proprietary value.

Phenomenelle Angels

Focused on Midwestern women and ethnic minorities, Phenomenelle Angels invest in businesses operating in the fields of Information Technology, Bio-Technology/Life Sciences, Clean Technology, Consumer Goods/Services, and Communications. To be eligible, your business must have a woman or ethnic minority in a C-Level position, the potential to grow big, proprietary technology, be just one year until breaking even or making a profit, and have prior backing from other reputable investors.

Springboard Enterprises

Springboard Enterprises isn’t a venture firm, it’s where venture firms go to seek out women-led businesses. In addition to funding, female entrepreneurs will also find education, resources, and coaching, along with the possibility of a business showcase. An impressive 81% of Springboard companies still exist in some form.

Belle Capital

Belle Capital is on the hunt for early stage companies with “at least 1 female founder or C-Level executive,” or the willingness to recruit one. This firm focuses on digital, mobile, and internet-enabled products services, as well as medical devices and CleanTech. They prefer teams with a record of experience and proven commercialization.

37 Angels

It’s not just female founders who are underutilized – it’s female investors, too. 37 Angels focuses primarily on this latter group, drawing from the experiences and expertise of female investors. Investments range from $50K to $150K, and investees also receive valuable training and advice. Applications are followed by 20-minute phone call and then a pitch round.

Broadway Angels

Just like 37 Angels, the investors at Broadway Angels are all women, and the group invests in companies with a focus on technology. Investees benefit from funding and from investors’ expertise.


Looking for More? Check out these additional resources for women in tech:

Female Angel and Early-Stage Investors in Tech 
Quora List of Top Female Angel Investors
Quora List of Notable Female Investors


Organizations for Female Business Owners

Think we’ve gone through a bounty of female-centric support organizations already? We’ve only just begun! There are more organizations available to support women-led businesses in non-financial ways than we could ever count, and more are formed every day.

National Association for Women Business Owners (NAWBO)

As the largest organization for women business owners in the U.S., you’ll find a local chapter of the National Association for Women Business Owners in just about every major city in the country. Joining your local chapter means gaining access to a resource center that includes, among other features, links to funding sources. You’ll also find links to business certification programs and local networking opportunities and customized training. Submit your application online.

Women’s Business Development Council (WBDC)

Just as storied, large, and influential as NAWBO, the Women’s Business Development Council offers programs for women at every stage of business ownership, from startups to established businesses. As the host of the annual Entrepreneurial Woman’s Conference and Technology Makeover Competition, there are built-in opportunities for networking and to expose your work to a large audience. Services include capital programs, courses, workshops, and programs for Spanish-speaking businesswomen, as well as the opportunity to work towards a Women’s Business Enterprise Certification.

U.S. Women’s Chamber of Commerce

Since its beginning, the Women’s Chamber of Commerce has helped women launch and grow their businesses, whether through training, access to resources, certification for businesses, retirement planning or lobbying. This also a good resource if your business relies on government contracts. Individual memberships are free.

Women’s Business Development Council

Supported by the US Small Business Administration, the Women’s Business Development Council offers coaches and financial training to women business owners. If you’re not near by, there is a remote learning hub to help with a wide range of practical business issues. Personal counseling, financial coaching, and professional development services are all available, as is access to discussions with your governor and state leaders. Membership is $5 per month.


Online Professional Communities for Women

Seasoned experts and investors are essential to launching a successful business. But so is having a community of like-minded peers who are also launching businesses and encountering similar hurdles. Here you will find coaching, support, and even business referrals.

Women 2.0

Women 2.0 describes itself as a “community-driven media brand” with a focus on women in technology. The content featured on the site, which also is available through a newsletter signup, explores every aspect of being a woman in technology. Their blog network offers a platform for female entrepreneurs, technologists, investors, and innovators to gather and exchange stories and tips. The site hosts conferences, pitch startup competitions, city meet-ups, and online investor hangouts.

Mom 2 CEO

Hosted in Los Angeles, the Mom 2 CEO conference gathers mompreneurs from across the world to network, learn, build relationships and strategic partnerships, mentor, and more. If you’re a mompreneur, this is a great way to connect with other women who are balancing hefty plates. There are many other resources and conferences out there, so use this conference as a good launch point for research.

Lean In

Sprung from Facebook Chief Operating Officer Sheryl Sandberg’s TED Talk and bestselling book, Lean In, this site encourages women to go after their ambitions full-heartedly. While not specifically focused on female business owners, it is another excellent support and resources community for women with big goals. There is a library of free lectures and there are many Lean In Circles in local communities across the country.

Women in Technology International

The goal of Women in Technology International is to provide women in tech with access to support from other professionals in the industry. There are educational resources and opportunities abound, and an annual conference. This is a worldwide network with support and access for women around the globe.

Women Who Launch

Part-community, part-incubator, Women Who Launch has programs available across North America. The goal is to empower women to engage with entrepreneurship, as founders, funders, or team members.

Local and Industry-Specific Groups

If you live in a metropolitan area, there are likely many women-led business support groups right in your community. And if there aren’t any in your area, why not start one? is a great way to find the right groups for you. Yes, you’ll want to head to a business-focused group, but also look for groups devoted to your industry. Similarly, search for national women-focused support groups for your industry, as there is a high probability there are resources available to you.


More women are launching businesses than ever before, inspiring their peers and contributing enormously to the economy along the way. Though many hurdles still exist, there are just as many caring hands to help you over these barriers. I hope this guide has helped point you in the right direction toward starting or continuing your entrepreneurial journey, and owning the business of your dreams. And if you see anything we missed, don’t hesitate to reach out to us at so we can share the resource with the community!