Tina Amirtha spoke to Carla Harris, the Chairwomen of the National Women’s Business Council (NWBC), about the findings of the NWBC’s 2013 report regarding the current economic issues facing U.S. based women-owned businesses and the importance of broadening access to capital for women entrepreneurs.
Here are a couple of findings from NWBC’s 2013 report:
- Women-led firms that had annual receipts above $100,000 were less likely to fold during the period 2007 – 2010.
- Male entrepreneurs are more likely than their female counterparts to use bank loans and business profits to grow their businesses.
Other NWBC research showed:
- In 2007, venture capital resulted in the highest receipts for businesses, compared to using loans or reinvesting business profits.
- Almost no women-led firms used venture capital investments to expand.
- While over a quarter of employer firms that used personal savings started with less than $5000, around half of those firms that took out bank, government or government-guaranteed loans started with at least $100,000 in startup capital.