Cash Flow – Page 3 – More from the Institute for Women's Entrepreneurship at Cornell

Free Crowdfunding Workshop on Oct 20th

On Tuesday, October 20, 2020 at 1pm ET, The Chattery will be hosting a free online workshop entitled “Leveraging Crowdfunding to Launch & Grow Your Business“. The workshop will feature Olivia Owens, Head of Partnerships at IFundWomen and General Manager of IFundWomen of Color, who will share how to create a honed pitch, network map, and marketing strategy for your crowdfunding campaign. To learn more and register, click here.

Olivia Owens worked with eCornell to deliver a webinar in August on “Raising Capital During A Crisis” through the use of crowdfunding. A link to that recording can be found here.

The Chattery is a nonprofit organization that provides adult education through fun, affordable and accessible classes and workshops and is offering this workshop for free in conjunction with Startup Week Chattanooga. Shawanda Mason is a co-founder of The Chattery and is a graduate of the Women’s Entrepreneurship Certificate program at Cornell! Many thanks to Shawanda for making us aware of this event and enabling us to share it with the broader community!

Bank of America Resources for Small Businesses

Bank of America has put together a web page with resources for small businesses that are grappling with the challenges stemming from COVID-19 shutdowns. Included on this page is a link to Facebook’s Small Business Grant program. Facebook stated that they will be providing $100 million in grants and credits to 30,000 small businesses and application information will be posted soon.

SBA Offers Paycheck Protection Loan

The Paycheck Protection Program is a Small Business Administration (SBA) loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. The SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. The Paycheck Protection Program will be available through June 30, 2020. More information can be found here.

Top 10 Mistakes That Prevent Women From Scaling Businesses To $1MM

Despite women owning 40% of all the businesses in the U.S., in 2018, less than 2 percent of women-owned businesses generated more than $1 million in sales (and that percentage is even lower when you only look at women of color). This article in Entrepreneur explores ten common mistakes that include: trying to do it all yourself, not spending enough time working with mentors and coaches, lack of a cash runway and not understanding the scalable aspects of the business.

Tips on Managing Cash Flow

This post from May 2019 in Forbes and this post from May 2016 in Entrepreneur both share useful tips for what to focus on when you are managing your cash as you launch your business. Nothing you probably don’t already know – it is important to have goals, spend wisely, reduce overhead, etc but useful to skim through to make sure you are doing all you can to effectively manage this critical resource!