A financial background and understanding of fundamentals plays a key role in the success of entrepreneurs.
By Monica Godinez, Illustrations by Jessica Wetterer
According to a 2018 report from the Women’s Business Enterprise National Council, in the U.S., women own 4 out of every 10 businesses. This demonstrates the large strides women have made in the entrepreneurial world.
In Fundera’s quarterly “The State of Online Small Business Lending” report, it was found that women ask for an estimated $35,000 less for financing for their businesses than their male counterparts.
SCORE (the largest network of volunteer expert business mentors in the nation) conducted their “Megaphone of Main Street” study in fall 2019. The study surveyed 1,000 small businesses and their financial means. In the report, 78% of the participants stated they used personal funds to finance their businesses.
In 2020, The Bureau of Labor reported that 31% of women in finance are represented among financial advisors.
Black Barn Financial, an investment advisory firm founded in Austin, has over 2,000 members. Black Barn prides itself on the guidance, support and financial assistance they offer women.