“Show Her The Money” is a documentary that addresses the plight of women entrepreneurs who aren’t getting their share of venture capital. The film follows four visionary founders as they endure uphill battles to turn their ideas into reality. After an award-winning film festival run, the movie has embarked on a 50-city grassroots global tour. To learn more about how to catch a screening, see this link.
This article from CNET discusses common mistakes that attract IRS scrutiny and offers tips to avoid them, such as completing your return accurately and reporting income correctly, as failing to do so can lead to audits or delays. It also emphasizes the importance of meticulous record-keeping, especially for self-employed individuals claiming deductions, and being cautious with charitable deductions to avoid raising red flags with the IRS.
Funding is one of the biggest hurdles for small business owners. Financial planner Jovan Johnson highlights the importance of being financially prepared. In this piece in Business Insider, he recommends seven essential documents for small business owners, including a business credit report, profit and loss statement, balance sheet, bank statements, income tax returns, insurance documents, and financial forecasts, to enhance their chances of securing funding through avenues like credit cards, grants, or loans. Check out the post for more details!
This article posted to NASDAQ.com encourages entrepreneurs to pursue a debt-free approach to building their businesses by exploring alternative funding options. The piece introduces various funding alternatives, including crowdfunding, grants, bootstrapping techniques, strategic partnerships, pre-selling strategies, invoice financing, and angel investors. Case studies highlight successful businesses that thrived without accumulating debt. The article also provides a comparative analysis of funding sources, advising entrepreneurs to choose based on their business stage and needs. It emphasizes the importance of financial forecasting, diversifying income streams, and adapting to emerging trends for building a sustainable and debt-free future.
According to this post on CNBC, the landscape for female entrepreneurs is evolving positively, with women accounting for nearly half of new business owners in recent years. Despite progress, a funding gap still exists, with only 2.1% of venture capital investments in the U.S. going to businesses founded solely by women in 2022. While the funding rate for women-owned businesses rose to 41% in 2022, challenges persist, including stereotypes and misconceptions. Founders emphasize the importance of confidence, saying no to opportunities that may have long-term costs, and valuing long-term goals over short-term gains. See the link to read more!
Each month, we send an email blast to students enrolled in the program with a list of funding opportunities and business resources. In between the monthly email blasts, we keep this spreadsheet updated daily with new opportunities that we find (the last column indicates the date when the item was added to the spreadsheet): https://docs.google.com/spreadsheets/d/1zU5SUCYBopz64FM4q_nqp2wvILmcdItq_PRWQRXFUB4/edit?usp=sharing
This post from CNN Underscored is a helpful piece that discusses the steps small business owners can take to secure funding through loans. It highlights the importance of determining the type of loan that best suits the business’s needs, considering factors such as the required amount, purpose of funds, and the business’s size. The article suggests comparing lenders, including traditional banks, online lenders, and microlenders, based on factors like interest rates, fees, loan terms, and funding speed. It also emphasizes the importance of gathering necessary documents, submitting a comprehensive loan application, and reviewing the loan agreement before finalizing the funding process. It is a grate reference piece if you are looking to use loans as a source of capital to grow your business.
A recent article in TechCrunch discussed the challenges faced by female founders in the startup journey, emphasizing the need for a different approach to fundraising. The author, Andrea Sommer, shares her experience co-founding Hive Founders, a global network and accelerator for women entrepreneurs, highlighting the importance of collaboration, adaptability, and well-roundedness for women seeking investment. She also addresses the unique challenges women face in fundraising, such as different behavioral patterns from investors, and emphasizes the importance of building genuine relationships with investors. Sommer advocates for female founders to embrace their scrappy side, be disciplined with resources, and seek guidance from other women who have successfully navigated the fundraising process.
In this article in Entrepreneur, five common pitfalls that small businesses should avoid when establishing business credit are highlighted. These include not regularly monitoring business credit scores, using outdated or inaccurate business information, paying business expenses with personal accounts, choosing the wrong business structure, and using vendors that don’t report trade credit. By addressing these issues, small businesses can build a strong credit foundation essential for accessing funding, fostering growth, and building partnerships.
According to this article from Bankrate.com, one-third of startups were denied business loans in 2023. Lenders look at a variety of criteria that can lead to a loan denial including credit score, revenue and collateral. The article shares some advice for addressing those items as well as options beyond traditional bank loans.