Founding a Female-Owned Business

The first question to ask yourself is whether you want to be a woman in business or if you want to be the woman in a woman-owned business? If it’s the latter, being a woman entrepreneur is an important part of your brand and will resonate with your customers.

Have you considered a Women’s Business Enterprise (WBE) certification? As a member of the WBE, female business owners are eligible to receive various legal advantages and federal services, like the Prequalification Pilot Loan Program, which can put up to $250,000 back in your pocket. A Women’s Business Enterprise certification can also build a company’s credibility and validate the business with customers and the wider business community.

If you’re a woman-owned business, below is a checklist to see if your business fits the bill for a WBE certification:

• The company must have at least 51% ownership, management and control in the hands of women;
• The business must have been in operation for at least six months;
• The owner or owners must be US citizens or legal resident aliens;
• The owner must prove the source of capital;
• The owner must illustrate participation in the management of the business; and,
• The owner must also demonstrate the ability to perform in the area of expertise without reliance on financing or resources from a firm that is not woman-owned.

Need some more help? Check out these other resources for women entrepreneurs:

• Women’s Business Enterprise National Council (WBENC) www.wbenc.org *This organization can provide WBE certification
• National Women Business Owners Corporation (NMBOC) www.nwboc.org *This organization can provide WBE certification
• Association of Women Business Owners (NAWBO) www.nawbo.org
• www.WomenOwned.com *This is a great resource for financing opportunities

Source:BizFilings.com