Do you want to learn how to finance a business without going to the bank? Are you applying or looking to get Small Business grants for women? Well, before you send that application, there are 3 harsh truths you must know; which you will never hear from your adviser or consultant.
Everyone is affected by the economic crunch. Even businesses are hit by the market slump. If cash is hard, how can you run a business? One option is to get a small business loan from a financing institution. It is good if you are a man. If you are a woman, you will find out that it is tougher to get a business loan. So to make the process easier for you, below are three truths you must know before applying for a small business grant for women.
3 Harsh Truths You Must Know about Small Business Grants for Women
Truth no. 1: Whether you like it or not there still is a “silent” discrimination between man and woman. The norm still exist that the men are more capable of running businesses than women, so these institutions would rather deal with men. To be able to get a loan from them, you need to prove your capability as an entrepreneur. How can you do that if you are still in the stage of growing your business? This is where small business grants for women will come in.
So you start searching for small business grants for women starting a business. Basically the first place you look for is the government’s financial support. You browse through their site and search through their list of grants. Upon seeing one that might suite your business, you click through the requirements. Then the next reality will hit you.
Truth no. 2: The government does not have any small business grants for women starting a business. Instead of helping you out of your predicament, they offer business establishment support in the form of references and trainings. Then they point you to other sites and the process goes on and on until you get exhausted and give up.
Then you look to foundations, non-government organizations, associations, women’s groups and others. Very seldom do you see them giving small business grants for women starting a business. What they offer are business loans.
You may find small business grants for women starting a business among their programs but they never give grants to individuals. They give grants to groups of women or organized groups of women. One site even suggested that to be able to get small business grants for women for women starting a business, you have to pay a grant research company to gain access to their database.
Doing business is already hard. Finding financial support makes it harder. Assuming that you got a small business grant for women from the sector that supports women entrepreneurs the next reality will hit you.
Truth no. 3: You have to work doubly hard to ensure that the trust they gave will be worth it; so that next time, it will be easier for you to get subsequent assistance. Now that you have the fighting chance, you have to make things work for your business. To make it work, sacrifices have to be made. You need to upgrade your entrepreneurial skills set.
If you are a mom, you need to learn to balance your time between business and your family. You can do this by replicating yourself. Look for a person who can support you and train that person to take on some of your responsibilities. In that way you can free up your time to spend for your family. Always remember that you cannot succeed on your own. Success is always a team effort.
The bottom line is that finding free money is very hard to come by these days especially during the financial slump. So you need to find more creative ways to raise the funds that you need.