Monday, December 24, 2012

Helping Women Business Owners Access Capital

Helping Women Business Owners Access Capital

Link to Small Business Trends

Helping Women Business Owners Access Capital

Posted: 23 Dec 2012 11:00 AM PST

women owned business financingWomen-owned businesses are one of the fastest growing segments of the small business community. Today, about 30% of small businesses are owned by women, compared to about 5% in 1970. This is good news.

However, women business owners still face several challenges when it comes to growing their businesses and accessing capital.

According to the latest data:

  • Only 3 percent of all women-owned firms have revenues of $1 million or more compared with 6% of men-owned firms. (Center for Women’s Business Research)
  • Women-owned firms with revenues of $1 million or more are more likely to access commercial loans or lines of credit than other women-owned firms (70% vs. 28%). Despite the success of larger women-owned businesses, they continue to lag behind their male counterparts in using commercial credit (56% of women vs. 71% of men). Larger, faster-growing women-owned firms are more likely than other firms owned by women to use credit. (Women Impacting Public Policy – WIPP)
  • Of the WIPP women business members who sought outside funding in 2011, only 45% of businesses were successful after two attempts.

Access to growth capital is a critical factor in growing a successful business. However, as the statistics show, even when women business owners seek financing, they don't always get it. Critical factors to ensuring that women get the funding they need often comes down to awareness and education:

  • What funding sources are available?
  • What is the process of securing capital?
  • Who can help?

While there aren't any specific loan programs for women business owners, there are a number of government-backed and business loans that women business owners can take advantage of and resources in your community to help you secure them. Here are two worth getting to know:

Women's Business Centers

With a nationwide network of more than 110 offices, Women's Business Centers (WBCs) operate with the mission to “level the playing field” for women entrepreneurs, who still face unique obstacles in the world of business.

Specifically, they can help guide women through the process of finding and applying for loans, guidance on how to bid on government contracts and offer regular training seminars on financing topics. Some also provide access to alternative capital financing programs.

FACT: Government data proves that businesses that receive assistance from WBCs have significantly better survival rates than those that don't receive similar support.

Women Accessing Capital Program

Another resource for women business owners is the Women Impacting Public Policy's Women Accessing Capital program. The national program is designed to educate women business owners on all steps of accessing capital, from understanding and evaluating funding sources, creating a strong application for capital, to maintaining and managing growth.

Specifically, program participants get information that can be immediately applied to advancing their businesses. Look out for events, webinars and courses that provide the necessary tools to competitively seek the appropriate type of funding, obtain much needed cash, and then manage a financed firm, to help small business owners take their businesses to the next level.

Check out the events calendar on the main WIPP site for upcoming activities.

Hand and Woman Photo via Shutterstock

The post Helping Women Business Owners Access Capital appeared first on Small Business Trends.

WordPress Introduces Unlimited Scalable Business Blogging Platform

Posted: 23 Dec 2012 08:00 AM PST

Deciding where to host a website or blog can be tricky since there are so many different options available. From professional publishing providers to simple hosted blogging platforms, the range of products available ensure that there's something out there for businesses with all different budgets and needs.

Now there's another new option available for businesses looking for a professional blogging platform without all the added cost of a full online publishing suite. Automatic, the company behind WordPress, recently announced a new version of WordPress that fits somewhere in between the free WordPress.com and WordPress VIP, which starts at $3,750 per month and is used by large clients such as CNN.

WordPress.com Enterprise costs $500 per month and includes a managed hosting service with unlimited traffic, bandwidth, storage, support, and WordPress.com's VideoPress service. The service is made to scale with businesses as they grow, allowing them to customize sites with Javascript and handle a lot of traffic.

Unlike the WordPress.org self-hosting option, Enterprise customers have their sites hosted by WordPress.com, so they don't have to worry about maintaining the sites themselves. Since they're hosted by WordPress itself, Enterprise sites automatically update with the latest software patches and security updates.

Users of WordPress.com Enterprise will also have access to the full selection of approved plugins and customizable design options.

The photo above shows the Enterprise dashboard, which includes a checklist of items that a site administrator should consider prior to site launch, including website customization and adding WordPress plugins. The options along the left side of the page include many of the same ones that are included with other versions of WordPress.

Automattic is hoping that this new version fills a void in the market between professional hosting options and the free ones aimed mainly at individual users. But at $500 a month, this option is still fairly expensive when compared to some other managed hosting options.

And WordPress.com Enterprise has a lot of competition both from products aimed at professional content creators and free or less expensive options like Tumblr, which are being increasingly used by businesses and brands.

However, WordPress is a trusted name that many companies already rely on, so depending on needs and budget, this new Enterprise option could be one that many businesses consider.

The post WordPress Introduces Unlimited Scalable Business Blogging Platform appeared first on Small Business Trends.

How To Be A Social Media Ninja: Best Dojo Success

Posted: 23 Dec 2012 06:00 AM PST

Ok, I need to reveal a bias from the onset: I've reviewed Melinda Emerson's (@smallbizlady) first book How To Be Your Own Boss in 12 Months and loved it. I've also written a few analytics articles for her site, Succeed As Your Own Boss, as well as reviewed Web analytics as a service provider. So yes, I'm biased a little (smile).

But that bias is given freely with true pleasure and respect.  The trust behind it is beyond worthwhile, because Melinda's valuable insights are so beyond worthwhile. She has helped many small businesses grow, buoyed by her twitter chat mantra:

"To end small business failure by helping you succeed as your own boss."

That mission has yield tremendous results. While SmallBizChat, her popular small business Twitter chat, has highlighted some very interesting businesses from various industries, Melinda's insights has appeared in national media such as the New York Times as well as marketing partnerships with storied brands such as Pitney Bowes, Federal Express, and American Express.  In addition, Forbes Magazine named Melinda Emerson #1 Woman for Entrepreneurs to follow on Twitter.

Melinda shares her best social media tips in a new brief e-book, How To Be A Social Media Ninja: 101 Ways to Dominate Your Competition in Social Media.  While so many professionals state what they think business needs, Melinda states what really works.

Melinda's tactics and suggestions in Ninja share the best quality she applies in all her consultations and presentation – a discerning eye for business development. The end result is true grit ideas that are brief enough to apply yet substantial enough to incorporate into a small business plan.  She reminds readers that success with social media is reserved for those who have an active strategy:

“Do not be overwhelmed with social media, just make sure that you know where your best target customer hangs out online so you can be part of the conversation.”

There are 101 ideas, some which are understandably ubiquitous, such as using a blog and "always look to display value."  Yet Melinda's approach produces unique twists through noting the ancillary steps needs to succeed.  For example, she notes the usage of an image library:

"…adding pictures adds a huge amount of depth to your blog…try to start out with a library of 50 or so images to give yourself some options."

Another tip suggests having a calendar to plan your content:

“It's important to build an editorial calendar to keep track of your content. It will also help you brainstorm topics in advance.”

A nice touch is a segment on preparing a website for mobile access:

“If you are building a website from scratch, look for a Web developer who understands responsive design (RWD). Responsive Web design is a concept that can expand, contract, rearrange, or remove content based on the user's device and screen….Using RWD can make your website easier and cheaper to manage, while giving mobile users a better experience.”

I liked the nods to analytics and links. Small businesses usually ignore search engine optimization, but tips such as paying attention to links for a blog can blend social media and SEO maintenance.  Facebook Insights is also mentioned, as well as a few tools Melinda uses to keep on track. The tips serve to remind the reader to plan well, and to provide a few starter tips as well.

How to Be A Social Media Ninja is a short guide, 40 pages, with the tips explained in short paragraphs. This book does not elaborate on large processes or organization in a way like the book Empowered  does.  But for readers seeking efficient thought starters, imagine the suggestions as a fine collection of reminders of what should happen to execute social media well.

Readers interested in furthering social media can combine the tips with Power Friending.  Other social media books that this book compliments include The Strategy Book, The Impact Equation, Social Marketology, and the aforementioned Empowered.

All in all, though, as a standalone guide, How to Be A Social Media Ninja certainly earned its black belt.

The post How To Be A Social Media Ninja: Best Dojo Success appeared first on Small Business Trends.
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