Trends

 

04 18 2013

04 18 2013

Women-owned Small Businesses Growing, but Require More Funding

According to business publication The Next Women, obtaining a small business loan may be more difficult for those who do not develop strategic relationships with funders. As a result of this, self-employed individuals who are more pressed for time, due to responsibilities in their family life, may encounter more obstacles when it comes to securing appropriate financing.

Although women-owned small businesses are on the rise, many women are juggling conflicting obligations stemming from both family life and work. A shortage of face-time with investors may hinder some small business owners when it comes to securing funding. Without the proper funding, it is difficult for a small business to grow.

The American Express’ The State of Women-Owned Business Report for 2013 recently revealed female-owned businesses are increasing in the United States. Even though the report found small businesses owned by women contribute to job creation and revenue growth – the 8.6 million women-owned firms in business today are generating more than $1.3 trillion in revenue, and employing close to about 7.8 million people – they still employ just 6 percent of the nation’s workforce, and bring in fewer than 4 percent of business profits.

Although the number of businesses owned by women has increased by 59 percent since 1997, many female small business owners are hesitant about securing financing or have a harder time getting approved for a small business loan for a variety of reasons, such as going into the retail business, which is often not as profitable as other industries.

Overall, hiring aspirations among small business owners are expected to remain relatively stagnant across the board for the next six months due to worries related to financing. A new PNC survey revealed that around three-quarters of U.S. small businesses reported they may not hire over the next six months. However, having a strong team in place is often essential for business growth.

Any small business seeking funding to start hiring employees can contact National Funding about securing a small business loan or merchant cash advance to prepare themselves for greater growth and success.

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The Merchant and Owner(s)/Officer(s) identified in the application (individually, an “Applicant”) each represents, acknowledges and agrees that (1) all information and documents provided to National Funding, Inc. (“NF”) including credit card processor statements are true, accurate and complete, (2) Applicant will immediately notify NF of any change in such information or financial condition, (3) Applicant authorizes NF to disclose all information and documents that NF may obtain including credit reports to other persons or entities (collectively, “Assignees”) that may be involved with or acquire commercial loans having daily repayment features and/or Merchant Cash Advance transactions, including without limitation the application therefor (collectively, “Transactions”) and each Assignee is authorized to use such information and documents, and share such information and documents with other Assignees, in connection with potential Transactions, (4) each Assignee will rely upon the accuracy and completeness of such information and documents, (5) NF, Assignees, and each of their representatives, successors, assigns and designees (collectively, “Recipients”) are authorized to request and receive any investigative reports, credit reports, statements from creditors or financial institutions, verification of information, or any other information that a Recipient deems necessary, (6) Applicant waives and releases any claims against Recipients and any information-providers arising from any act or omission relating to the requesting, receiving or release of information, and (7) each Owner/Officer represents that he or she is authorized to sign this form on behalf of Merchant.(8) I consent to receive direct mail, faxes, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (9) this request is for business and not for consumer purposes.

 

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