With Small Business Loans in Philadelphia, Women Entrepreneurs Drive the Surge in Small Business Growth
The influence of women entrepreneurs on America's small business ecosystem is remarkable. From 2019 to 2023, the number of women-owned businesses grew by an astounding 94%, surpassing the growth rate of businesses owned by men. Despite this rapid expansion, women-owned companies still account for only around 38% of all U.S. businesses.
As we commemorate Women's Equality Day on August 26, the ongoing efforts to build a more inclusive and equitable business landscape are as vital as ever. The Small Business Administration (SBA) remains committed to supporting women entrepreneurs at every stage of their journey, offering crucial resources to help them thrive and succeed.
Key SBA Resources Empowering Women Entrepreneurs:
- Access to Training, Counseling, and Continuous Learning:
Women entrepreneurs are making their mark across every state and U.S. territory. To provide them with vital support, Small Business Loans Philadelphia, in conjunction with the SBA, has established 152 Women’s Business Centers (WBCs) nationwide. These centers offer essential resources to help women start and grow their businesses. Additionally, Small Business Development Centers, SCORE mentors, and Veterans Business Outreach Centers offer more avenues for guidance. The SBA’s online Learning Platform also provides flexible training and coaching, tailored to address the distinct needs of entrepreneurs at different stages of business development.
- Financial Support and Funding Resources:
Women entrepreneurs often face unique challenges in accessing capital. SBA-backed loan programs, such as Small Business Loans in Philadelphia, work to reduce these barriers by increasing lending opportunities for underserved communities. These programs lower the risk for lenders, making it easier for women-owned businesses to secure the necessary funding. Beyond loans, the SBA helps connect businesses with potential investors and offers surety bond protection.
- Government Contracting Opportunities:
The federal marketplace presents vast opportunities for women-owned businesses. As the largest buyer of goods and services globally, the U.S. government awarded a record-breaking $30.9 billion in contracts to women-owned businesses in the last fiscal year. Through the Women-Owned Small Business (WOSB) Federal Contracting Program, the government is focused on ensuring that women-owned businesses in underrepresented industries have access to these contracts.
The Role of Small Business Loans in Philadelphia:
At Biz2Loan, we are committed to empowering women entrepreneurs with the financial tools and resources they need to succeed. The Small Business Loans Philadelphia program, in collaboration with SBA resources, plays a vital role in fueling the economic contribution of women-led businesses. By offering access to capital, training, and government contracting opportunities, we are helping women entrepreneurs lead the way in driving the growth of small businesses across the U.S.
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