How to Fund a Woman’s Start-Up

Starting a business is challenging regardless of your gender, but female entrepreneurs face specific hurdles. Gender bias and the lack of role models in leadership positions, coupled with unconscious bias from investors and customers, can make it difficult for women-identifying startup founders to get the funds they need to succeed. However, many say the startup landscape is changing for the better, as more and more women start successful businesses.

The first step to launching a business is figuring out how you will fund your startup. This can be especially challenging for female entrepreneurs, who have reported having to work harder to raise the same amount of money as male founders.

Many startup founders will turn to personal savings, loans or credit cards. It is important to keep your personal and business finances separate, if possible. Otherwise, you may be putting your personal assets at risk, and double-digit interest rates can add up quickly. Whether you use personal or business accounts, it’s a good idea to speak with a financial advisor to ensure that you can still meet your other financial goals, such as paying down debt or saving for retirement.여자창업

One way to increase your chances of getting startup funding is to approach multiple sources of capital, rather than just a single investor. This will allow you to see if there is any overlap in interest, and you may be able to find a funder that can help you with your unique circumstances.

Several types of startup funding exist, including grants, accelerators and crowdfunding ventures. It’s also worth exploring your local and federal small business programs. Some are specifically geared towards helping female-identifying entrepreneurs, while others have a focus on certain industries.

Women are increasingly choosing to take the leap into entrepreneurship, accounting for nearly half of new startup owners in recent years, according to human resources cloud software company Gusto. This rise is particularly impressive given that it happened during a pandemic, when the number of new entrepreneurs tripled.

Investors should be mindful of their biases when listening to pitches from female-led startups, and they should try to address those issues by diversifying their own boards and supporting incubators that help to support the growth of women-identifying businesses. Additionally, they should actively look for ways to support more women-led start-ups by investing in those companies that have shown traction and are showing significant revenue growth.후토루

Olivia Cotes-James is the founder of Luuna, a company that seeks to destigmatize menstruation and advance gender equity by providing safe menstrual care products in workplaces and schools. She raised more than $1.5 million within two rounds of seed funding.

This year, Startup Canada will host live webinars and industry advisory circles to connect women-identifying entrepreneurs across the country. These sessions will include expert talks from late-stage founders, panel discussions with support organizations and networking breakout rooms. Learn more about how you can participate in these events here.