As a woman entrepreneur in New York, securing funding for your business can be one of the most important, and challenging, steps in your entrepreneurial journey. Fortunately, there are numerous resources and programs available to help women-owned businesses access capital, mentorship, and networking opportunities. Here's an overview of the funding options and resources specifically for women entrepreneurs in New York.

1. Women's Business Centers (WBCs)

●      Women's Business Centers are a great starting point for women entrepreneurs seeking guidance on financing, business development, and access to funding. In New York, the Women's Business Center of New York offers specialized programs for women looking to start, grow, or expand their businesses. These centers provide one-on-one counseling, business training, and access to funding opportunities through local and federal grants and loans.

2. SBA 8(a) Certification

●      The Small Business Administration (SBA) offers a unique opportunity for women-owned businesses through the 8(a) Certification Program. This program helps small businesses owned by women and minorities gain access to government contracts. It's a powerful tool for women entrepreneurs to grow their businesses and secure long-term contracts with the federal government.

3. Grants for Women Entrepreneurs

There are several grant opportunities aimed specifically at helping women start or grow their businesses. Some notable grant programs include:

●      Amber Grant for Women: Amber Grant awards monthly grants and an annual $25,000 grant to women entrepreneurs in any industry. The grant also includes a $10,000 donation to women of color entrepreneurs.

●      Cartier Women's Initiative: A prestigious international competition that provides significant funding and mentorship to women entrepreneurs worldwide.

4. New York State's Women-Owned Business Program

●      The New York State Division of Minority and Women's Business Development (DMWBD) supports women-owned businesses by providing access to state contracts and business development resources. Through this program, women entrepreneurs can connect with resources, mentorship, and opportunities to bid on state contracts.

5. Crowdfunding for Women-Owned Businesses

●      Crowdfunding platforms like Kickstarter and Indiegogo are increasingly popular among women entrepreneurs. These platforms allow you to present your business idea or product to the public and secure small investments from individuals who believe in your vision. This method not only provides funding but also helps build a loyal customer base before your product or service is even launched.

6. Venture Capital and Angel Investors

●      While venture capital (VC) and angel investing may seem challenging to access, many investors are particularly interested in supporting women entrepreneurs. Firms like Golden Seeds and Astia focus specifically on funding women-led businesses. These organizations can help connect women entrepreneurs with investors who are passionate about supporting female business owners.

7. New York City Programs for Women Entrepreneurs

●      In New York City, organizations like The New York City Economic Development Corporation (NYCEDC) offer resources and funding opportunities specifically for women-owned businesses. Through initiatives like the Women's Entrepreneurship Fund, women entrepreneurs can access grants and loans to support their business growth.

As a woman entrepreneur in New York, you have access to a variety of funding resources and programs specifically designed to support women-owned businesses. Whether you're looking for grants, loans, venture capital, or government contracts, there are plenty of opportunities to help you succeed. Take advantage of these resources to fuel your business growth and overcome the financial challenges that often come with entrepreneurship.

This information is not meant to provide legal advice nor does it form an attorney client relationship.  If you would like more information, please schedule a discovery call with a member of our team who is standing by to help take this exciting first step.