Small Business Funding for Women

Fortunately, small business funding for women isn't limited to funds that are ONLY for women. For there aren't very many of those

No, all of the funding sources are available for women. Check out venture lending, small business IPOs and angel investors. Truthfully, funding isn't always as available for women as it is for men, but it is there.

Count-Me-In.  A great resource for women in all stages of business development.

Small Business Administration (Office of Women's Business Ownership)

The SBA is an on-again, off-again supporter of women owned businesses. Basically they try very hard with the funding they've got. But they don't always have the funding to accomplish what they want to. It is, however, still well worth your time to investigate how they might help you.

Grants for Women

This premier directory provides access to literally tens of thousands of grants from all kinds of government and private agencies. There is a fee for the service, but it is a modest fee. The information provided is invaluable.

One of the best sources of small business funding for women is still to actually get the government contract, no small accomplishment in most cases. While the task may seem daunting, and it sometimes is, here is a basic outline of what to do:
First, do get your business certified as a minority business. Jumping through those hoops proves your sincerity.

Tackle the Online World

The U.S. government is the largest buyer of goods and services in the entire country - so this is a sizable chunk of work for vendors. Even though 40% off all US business are owned by women, only 1.5% of all the government dollars spent go to these businesses.

You already have a large advantage - you have some on-line savvy. The U.S. government is moving toward a paperless process for learning about and obtaining bids. Just in case you are new at this, the government has to request public "bids" so that everyone has the chance to get the work. This process is called a Request For Proposal (RFP). Many of these items are for office equipment, supplies, and services.

Get Your Ducks in a Row

Getting the small business funding for women isn't easy. Knowing if your business provides the kind of goods that the government wants requires some leg work. Make sure that you have the following items for your business:
e-mail address,

• TIN (Taxpayer Identification Number - IRS 800-829-1040),
• DUNS number (Dun & Bradstreet 800-333-0505),
• SIC codes (Small Business Administration 800-827-5722), and
• CAGE code (Defense Logistics Systems Center 616-4367).

Then you need to find out if anyone buys your products or services. One place to start is by looking into the database at GOVCON . GOVCON lists large contract bids. For smaller bids you will need to contact the office directly, especially if it is geographically limiting.

Getting the Background for Your Bid

The best thing is to write a letter to the "Offices of Small and Disadvantaged Business Utilization" (OSDBU) in each of the major government agencies (45 of them). You need to ask some very clear questions:

• Who is your women's business advocate?
• Please send the publication "Forecasts of Contracting Opportunities"
• Under the Freedom of Information Act, ask for the name and amount of past vendors for your product.

Armed with this information, you know who to talk to, what major contracting opportunities are coming up, who your competition is, and what they are charging for the products.

Now you can do some serious bidding to latch onto small business funding for women.

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