
January 14, 2005 |
2005-R-0042 | |
FUNDS FOR WOMEN-OWNED BUSINESS START-UPS
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By: John Rappa, Principal Analyst | ||
You asked where single mothers could obtain technical and financial assistance to start a business.
Many government, university, and private agencies provide technical or financial assistance to people who want to start their own businesses. Only a few focus on assisting women.
TECHNICAL ASSISTANCE AGENCIES
Two organizations specialize on assisting women entrepreneurs—the Women’s Business Development Center (Attachment 1) and the Entrepreneurial Woman’s Network (Attachment 2). Both offer programs and services for a fee.
As a first step, anyone who wants to start a business might first consider their reasons for doing so and examine their personal, managerial, and financial strengths and weaknesses. The University of Hartford’s Entrepreneurial Center provides such counseling. It also trains people on how to manage a business (Attachment 3).
People can also obtain technical assistance from regional small business development centers (Attachment 4).
While none of these organizations provide financial assistance, they refer clients to the ones that do.
FINANCIAL ASSISTANCE AGENCIES
The nonprofit Community Economic Development Fund (CEDF) makes very small loans (i. e. , microloans) to people who want to start a business (Attachment 5). It is also appears to be the only organization that provides technical and financial assistance to its clients (Attachment 6). Attachment 7 lists other micro lenders.
JR: ts