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A GUIDE TO SMALL BUSINESS GRANTS FOR WOMEN

According to recent estimates:

* The number of women-owned businesses has almost doubled over the last 15 years

* 75% of businesses started by women succeed, in comparison to just 25% of those started by men

* Businesses owned by women now account for over one-third of all businesses

As you can see, women are quickly becoming a powerful segment of the business community. As such, federal and state governments have taken notice and have a wide range of programs that provide assistance to women who want to start a business, or to fund an existing enterprise. The question is, how do you find them?

FEDERAL SOURCES

Although the federal government does not generally provide direct grants to individuals, it does grant funds to various state governments and private organizations who then provide assistance to women-owned businesses. The feds do, however, provide help in the form of guidance through the following departments:

U.S. Department of Labor, Women's Bureau (http://www.dol.gov/wb/)

From the website: "To improve the status of wage-earning women, improve their working conditions, increase their efficiency, and advance their opportunities for profitable employment."

U.S. Small Business Administration, Office of Women's Business Ownership (http://www.sba.gov/womeninbus iness/)

From the website: "The Office of Women's Business Ownership (OWBO) assists women achieve their dreams and improve their communities by helping them start and run successful businesses, regardless of social or financial disadvantage, race, ethnicity or business background."

U.S. Department of Health and Human Services, Office of Community Services (http://www.acf.hhs.gov/progra ms/ocs/dcdp/joli/aboutjoli.htm l)

From the website: "The purpose of the program is to award funds to organizations that will create new employment opportunities for individuals receiving Temporary Assistance for Needy Families (TANF) benefits and any other individual whose income level does not exceed 100 percent of the official poverty guidelines as published by the U.S. Department of Health and Human Services."

STATE SOURCES

U.S. Small Business Administration (http://www.sba.gov)

The number one source for small business grants for women is your state's Small Business Administration (SBA) office. In addition, the local office can point you in the direction of the state's own version of the SBA, the Office of Economic or Business Development. Both of these organizations are the main clearinghouses for grants and other assistance for businesses owned by women.

PRIVATE ORGANIZATIONS

The following private organizations provide direct grants and other forms of assistance to women-owned businesses:

Women's Business Grants (http://www.womensbusinessgran ts)

Awards annual grants of $100 and $500 to various businesses owned by women.

Count Me In (http://www.countmein.org)

Prov ides loans & grant information.

National Association of Commissions for Women (http://www.nacw.org)

From the website: NACW is the national advocate for government commissions for women which holds a unique and positive position for women's equity and justice and touches millions of women, playing a significant role in national policy and legislative development.

Remember that different programs have different requirements, so be sure to check out each resource carefully. Asking for additional information on other programs and sources is highly recommended. While this is by no means an exhaustive list of grants and other resources, for women-owned businesses, it will provide you with a good starting point in your search for business capital.

Learn more about this author, David Ware.
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