October is National Women's Small Business Month, and at a time when the news concerning women employees getting equal pay might be depressing, the news concerning women entrepreneurs and small business owners is a bit more hopeful. "National Women's Small Business Month is a time to recognize and applaud the talented, dedicated and driven women whose entrepreneurial spirit helps drive our nation's economy forward," said National Women's Business Council Chair Carla Harris. "Women's entrepreneurship has evolved from a growing trend to an inarguable contributor to the economic success, job growth and innovative backbone of this country."
Indeed, the trends of female small business ownership, funding, and success are on the rise, and hopefully that continues. Here are three other reasons to celebrate women small business owners this month:
The old models of bank loans and venture capital are out; crowdfunding your small business is in. And this is great news for women entrepreneurs. Whereas women typically only raise half as much startup capital as men via those traditional funding avenues, a recent study found that technology ventures led by women are twice as likely to meet their Kickstarter goals as tech ventures led by men. Even better news? It's women supporting women when it comes to crowdfunding.
And there are more options than ever for women entrepreneurs to raise money via traditional funding channels. The Small Business Association has resources available that can help female owners get the best small business loan deal. In addition, government entities and large companies are offering grants for female-owned startups.
It'd be great if the success of women entrepreneurs wasn't dependant on where their businesses were located. (And with internet funding sources and sales markets, that's less the case now than ever before.) But the state in which you're doing business can still affect your small business's bottom line. Find out which can be a positive influence.