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Funding options for women entrepreneurs
An alternative to Venture Capital
Many women dream of starting their own business. Unfortunately, they face some unique challenges. According to a study by the Harvard Business Review, women-led startups received less than 3% of all VC (venture capital) funding back in 2018. That was before the pandemic. Since then, things have only gotten grimmer.
So what’s a budding boss lady to do?
Small business grants may be the answer
One option for female entrepreneurs may be finding a small business grant that works for their particular field. Whether the lady is a tech guru, has a passion for fashion, or wants to open a store specializing in her favorite hobby, there is likely to be a grant that will suit her needs.
These grants come with both pros and cons. The most obvious advantage is that typically the funds are given as a gift. The recipient is not required to pay the money back. In cases where she does, the terms are usually very generous. These are obviously great benefits for the new entrepreneur, who is often cash-strapped.
On the other hand, the lack of a repayment schedule for the funding does not mean there are no strings attached. However, as we’ll discuss below, in many cases the stipulations are…
