What kind of help can a woman expect when opening a business in the USA
'14.09.2018'
Source: Forbes
What kind of help a woman can count on by starting her own business? We understand the example of the United States, one of the main legislative countries in supporting women's entrepreneurship.
When you start developing a business in a new country, you need additional financial resources, writes Victoria Duben specifically for Forbes. If you are thinking about expanding your business in the US, then you should pay attention to a number of programs with which you can expand not only the company's assets, but also your own social capital.
Women entrepreneurs are an important link in the American economy. According to report on the status of commercial companies, in 2017 in the USA there were 11,6 million women-owned enterprises, the income from which amounted to $ 1,7 trillion. Therefore, it is not surprising that according to the version Dell's Women Entrepreneur IndexThe United States tops the list with the best conditions and opportunities for women who want to succeed in business.
The main problems faced by women entrepreneurs around the world, the business community traditionally considers administrative barriers and lack of opportunities to attract financial resources. By research data Mastercard Index of Women Entrepreneurs, in 2017, more than 163 million women worldwide expected to open their own business and manage it alone, but later a third of them said Olga,that the lack of capital affected the success of the business, and 40% said that they did not have enough experience and knowledge.
So where in the United States purposefully provide financial assistance to start in business?
Lending under state guarantees. Known among American entrepreneurs as the 7 (a) Loan Program. Approximately 36% credits for this program are issued female company. This program is good flexibility: a loan can be obtained for different purposes. Almost 7000 commercial banks are ready to help in this: the maximum loan amount reaches $ 5 million, money can be borrowed for a period from 5 to 25 years, with an interest rate from 6% to 13%.
- Conditions. Specific lending conditions for start-up businesses vary from state to state and from loan to loan. For an already existing business, quite strict selection principles have been established: a business must exist for at least two years, be profitable, and in the last 12 months achieve revenue in the amount of $ 50 000.
Federal contracts. According to the provisions of the law of 1953, which are still in force, a quarter of government orders should be distributed precisely among small business owners. But thanks to the program of the Federal Contracts SBA, launched in 2011, all other things being equal, women receive the preferential right to receive a state order.
- Conditions. In order to exercise this right, a company must meet several requirements: SBA standards small business, owned by one or more women (necessarily citizens of the United States) at least 51%, the general manager of the business should be a woman.
State support programs. US funds donate funds for the development of projects. On the US Government website You can find more than 800 small business support programs; many of them are aimed specifically at developing female entrepreneurship. Business financing comes through the SBA.
- Conditions. In order to receive a grant, a business must meet the conditions, details of which can be found on local sites. Important points: the business must be located and work in the US, the number of people in the team can not exceed 500 people.
Finding an investment to start a business is half the battle. But it does not mean that your project will burn out and you will not lose the investment.
The ability to manage a business requires experience. You can create a really good product, but don’t know how to manage a company, how to make it known, how to attract new customers and stay afloat.
There are organizations in the US (for example, Women's Business Centers, the National Association of Women Business Owners) that aim to help women take the first steps in entrepreneurship. With their help, you can learn the basics of running your own business, get advice or even a ready-made business plan with payback calculations.
Specialized business centers also assist in obtaining funding and legal support by providing services in 35 languages.
Opening their own business, many women seek not only to realize their potential, but also to bring as much benefit to their colleagues. They unite in non-profit communities, supporting other women entrepreneurs through enhancing their managerial capacity, providing additional technical support measures, including individual and group counseling, participation in mentoring and experience sharing programs, as well as small grants for the implementation of measures to expand their business.
People who have immigrated to a new country need support, because no matter how well you know the language, traditions and customs of America, you will still be very different from the native inhabitant of the country.
For example, through such non-profit organizations like the Girl Geek Dinners, Coffee and Coded, Women 2.0, Financial Women's Association, you can share experiences with small business representatives and strengthen your business contacts. And WomanOwned maintains a database where you can get information about available loans, scholarships and other sources of funding.
In Russia, the female business is still not receiving any attention. I would like to believe that in the near future a well-thought-out system of support for women’s entrepreneurship will be created in our country.
