I have been a business owner since 2001. If you are woman business owner, this is your year, this is your time to get serious about local, state and federal prime and sub-contracting opportunities. If you live near a major urban area, first look into certification within the nearest city.
For example, I live just north of Houston, so because I live in an adjoining county, Montgomery, my business is eligible to apply for certification with the City of Houston. The application did take time, but it was worth it. My company is certified Woman-owned and Disadvantage Business Enterprise. The certification acronym is W/DBE. The City offers certification for women and minority business owners.
The City has agreements with several other municipal-based organizations, so in addition to being able to bid on set-aside contracts at the City, I can also bid on Port Authority of Houston, and METRO. The City has agreements with the Texas Unified Certification Program, so my company is also recognized with the state level - Texas Department of Transportation.
Note: Another perk for women business owners who are TXDOT DBE certified in highway construction codes can qualify for up to $10K in training through the TXDOT Technical Assistance Program (TXDOT TAP). I challenge you to find the local contracting agency and start your application asap.
At the state level, Texas offers a program called Texas HUB - Historically Underutilized Businesses. This is currently available to women and minority business owners, but in 2011 they are considering opening it up to Service Disabled Veterans as well. Check out if your state offers a special certification for women business owners.
And now at the federal level, there are two SBA programs to consider applying to: Women Owned Small Business (WOSB) and the SBA 8(a) program. If your business is currently certified as a SBA 8(a) business, you will be eligible for the new WOSB certification as well. Check out both of these programs at the SBA government website. Expect to wait about 90 days (at the least) to hear back from the SBA on 8(a) certification, there is a back log ever since all of the new federal programs opened up with the new administration.
As a SBA certified business, you are eligible to bid on big dollar contracts. However you will most likely find a niche to work as a subcontractor to a prime, because you need to build a track record of federal work. And of course, the primes are looking for good subcontractors because they get incentives from the government to include small business participation.
Increase Sales Tip - Form an Alliance with a Woman Business Owner
Women Business Owners are an ever growing and dynamic force. Did you know that profit under women owned firms grew at a faster rate than all other firms?
Maybe you were not aware that women controlled or owned 40% of all privately held U.S. firms and these women owned businesses grew at twice the rate of other business during the last 10 years?
So if you want to increase sales, then forming an alliance with a woman business owner makes a lot of sense. However, the alliance needs to be strategic.
Strategy has a Latin origin and means to out think the enemy. So, you should begin with your strategic plan and look specifically to your vision, values and current mission.
Then, review your marketing plan and sales plan. Look to your demographics, geographic and psycho graphics. Think about complementary businesses as well as those that you might even consider competitors.
If this is the right strategy for you, then how do you find the right woman owned business? Many states have women business owned certifications. By visiting the state website, you may be able to locate woman owned businesses. Certification suggests that the company is for real and has been evaluated on some level.
If that strategy is not viable, then look through local chambers of commerce directors and identify the owner. In many cases, you can quickly determine ownership of the business. Make an outreach to these women business owners again based on your strategic plan.
At networking events, move out of our comfort zone and talk to women to learn if they are business owners. Show an authentic interest in what they are doing. If there is a connection, suggest meeting over a cup of coffee to learn more about each other's businesses and how the two of you can help each other.
Additionally, linking with permission of course to a woman business owner's website is another strategy. This linking works well especially if it is reciprocal.
What ever strategy or strategies you select, forming a strategic alliance with a woman in business may just help you increase sales. And how knows, you may actually begin to see increases in some other business indicators such as profits and longevity.
Maybe you were not aware that women controlled or owned 40% of all privately held U.S. firms and these women owned businesses grew at twice the rate of other business during the last 10 years?
So if you want to increase sales, then forming an alliance with a woman business owner makes a lot of sense. However, the alliance needs to be strategic.
Strategy has a Latin origin and means to out think the enemy. So, you should begin with your strategic plan and look specifically to your vision, values and current mission.
Then, review your marketing plan and sales plan. Look to your demographics, geographic and psycho graphics. Think about complementary businesses as well as those that you might even consider competitors.
If this is the right strategy for you, then how do you find the right woman owned business? Many states have women business owned certifications. By visiting the state website, you may be able to locate woman owned businesses. Certification suggests that the company is for real and has been evaluated on some level.
If that strategy is not viable, then look through local chambers of commerce directors and identify the owner. In many cases, you can quickly determine ownership of the business. Make an outreach to these women business owners again based on your strategic plan.
At networking events, move out of our comfort zone and talk to women to learn if they are business owners. Show an authentic interest in what they are doing. If there is a connection, suggest meeting over a cup of coffee to learn more about each other's businesses and how the two of you can help each other.
Additionally, linking with permission of course to a woman business owner's website is another strategy. This linking works well especially if it is reciprocal.
What ever strategy or strategies you select, forming a strategic alliance with a woman in business may just help you increase sales. And how knows, you may actually begin to see increases in some other business indicators such as profits and longevity.
Small Woman Business Loans - A New Achievement
It can be seen that women are going the way of starting their business alone and going all the way to establish themselves. Today more and more people are moving away from traditional employments which get oneself a regular paycheck every month. The lenders are providing small woman business loans to set up things initially and manage things for some time before the income from the business starts pouring in.
Small woman business loans are of unsecured nature and their rates are slightly higher than normal loans. These loans require no security to be provided by the borrower to the lender. These loans are of crucial help to those not having a large capital base to fund their business on their own. Small woman business loan is also helpful to those who do not have a property of their own which can be placed against any collateral and those who want to start their business from the scratch or wish to expand their existing business with the help of small woman business loan.
This loan is designed specifically for self employed women, who want to start a business of their own. One can go for secured loan but that would not be beneficial for those women who are in the initial years of staring their business. One needs to apply for this type of loan with some documents related to business proof. Business profile document is the most important document to be submitted. It contains the details of the business plan and a statement of how one wants to achieve the plan. Another important document which is required for availing this loan is the loan request document. It contains the amount to be borrowed, the period for which the loan is required and any special conditions that one wishes that the lender should bear in mind before issuing the loan amount. One can repay the loan according to one's convenience. Thus, it ensures flexibility.
If one already has an existing business and want to have small woman business loan to expand it, one need to submit the financial statements of the business. These documents contain the balance sheets and statement of the flow of cash among others. Lenders consider these statements to calculate financial position and stability. A clean credit record is mandatory. People with bad credit history like arrears, payment defaults etc are not considered eligible for these types of loans. Some states and cities have loan programs, which are targeted towards providing assistance to women. It should be kept in mind that if one lives in a community property state, then the spouse must also personally guarantee the loan. Application form can be downloaded through online process. It saves time and efforts as there is no paperwork involved in it. These loans are very helpful for women who need funds for starting a business of their own and fall short of funds.
Small woman business loans are of unsecured nature and their rates are slightly higher than normal loans. These loans require no security to be provided by the borrower to the lender. These loans are of crucial help to those not having a large capital base to fund their business on their own. Small woman business loan is also helpful to those who do not have a property of their own which can be placed against any collateral and those who want to start their business from the scratch or wish to expand their existing business with the help of small woman business loan.
This loan is designed specifically for self employed women, who want to start a business of their own. One can go for secured loan but that would not be beneficial for those women who are in the initial years of staring their business. One needs to apply for this type of loan with some documents related to business proof. Business profile document is the most important document to be submitted. It contains the details of the business plan and a statement of how one wants to achieve the plan. Another important document which is required for availing this loan is the loan request document. It contains the amount to be borrowed, the period for which the loan is required and any special conditions that one wishes that the lender should bear in mind before issuing the loan amount. One can repay the loan according to one's convenience. Thus, it ensures flexibility.
If one already has an existing business and want to have small woman business loan to expand it, one need to submit the financial statements of the business. These documents contain the balance sheets and statement of the flow of cash among others. Lenders consider these statements to calculate financial position and stability. A clean credit record is mandatory. People with bad credit history like arrears, payment defaults etc are not considered eligible for these types of loans. Some states and cities have loan programs, which are targeted towards providing assistance to women. It should be kept in mind that if one lives in a community property state, then the spouse must also personally guarantee the loan. Application form can be downloaded through online process. It saves time and efforts as there is no paperwork involved in it. These loans are very helpful for women who need funds for starting a business of their own and fall short of funds.
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