All small business experience difficultly in obtaining the capital they need to start and grow their enterprises. But according to the research, women do not have equal access to capital. On overage it took women business owners 4 attempts to secure bank loans or lines of credit and 22 attempts to acquire venture capital. In fact, according to the Center for Women’s Business Research, over half of women owned firms did not seek capital to grow their businesses in 2009. As a result, it became clear there needed to be a new kind of thinking and programming to support women who seek funding to grow their businesses.
Education is really the key to success for women who want greater access to capital. So WIPP — Women Impacting Public Policy — is stepping up to the plate. Recently WIPP announced “Women Accessing Capital: Women, Money and Opportunity,” a program offering a combination of seminars, events and online resources. The program will help women understand the key steps of applying and securing the appropriate source of money, guiding participants through the process, as well as taking a financed business to the next level.
Babara Kasoff, President and CEO of WIPP. says “If women business owners were their own country, they would have the 5th largest GDP in the world. With the right strategies and access to money and opportunity, their business growth will not only continue to dominate but will improve the economic landscape for all Americans.”
“Information is power,” says Lisa Hanlon, Managing Principal at Teltech Communications, and national co-chair of WIPP’s Access to Capital Committee. “WIPP provides concerted efforts to educate women on how to navigate the business environment to become successful entrepreneurs. A key phase of the learning process is understanding access to capital. Women need this information to compete and transform their determination to economic success.”