Today's Top TipOnline business plan scams are alive and doing very well. There's even a new wrinkle: the "crowd funding". Trust me, no one makes money but the promoters in this scheme.
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Business plans by women just don't get funded. Statistically, over 600 business plans presented by women-owned businesses won venture capital last year, and thousands more business plans presented for SBA financing achieved it.
That sounds like a lot. And it is. But it is less than ten percent of all business plans that were funded.
I am personally astounded at the "reasons" given for the paltry crumbs thrown to business plans presented by women entrepreneurs.
"Women tend to be too conservative."
"Women take time out from their careers for their families, and so aren't as well prepared."
"Women don't think big enough for venture capital."
"Women don't take control of a company or a situation."
"Women don't want to give up any control of their business to venture capital investor."
There is a perception that women entrepreneurs are risk-averse, poor at math and finance and unwilling or unable to fully commit to a business.
With all the advances we have made, still today, in the 21st century, women entrepreneurs are granted only about 7% of the venture capital money that is invested.
Little does it seem to matter that women are leading new ventures at twice the rate of men.
So with the head-patting and butt-pinching inherent in our search for funding, what drives us to keep on going?
Because we're d[an error occurred while processing this directive]
If you are a woman building a company in Silicon
Valley, you are statistically more likely to be hit by a venture
capitalist than funded by one.
LINDA HAHNER, President of San Francisco based Out of the Blue Design. Quoted in "The feminine critique: Women fight for their share of venture capital", by Mark Calvey. San Francisco Business Times, Sept. 24, 2004
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