Cortburg Speaks Retirement

4 Unique Opportunities for Women Business Owners

• Miguel Gonzalez, MBA, AIF®, CPFA®, CRC® • Season 2023 • Episode 156

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Cortburg Speaks Retirement - episode #156: 4 Unique Opportunities for Women Business Owners / Investment in Stock Market, Financial Planning, Retirement Planning, Money Management 

In this audio podcast episode, Miguel Gonzalez shares 4 unique opportunities available for women business owners to grow their businesses.

Welcome to Cortburg Speaks Retirement Podcast
with Miguel Gonzalez, MBA, AIF®, CPFA®, CRC®

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INTRODUCTION

Welcome to Cortburg Speaks Retirement

An audio podcast about investing in the stock market, financial planning, money management and retirement planning.  Each Wednesday, we help investors at all stages of life learn how to potentially grow and preserve their money from first job through retirement.

Now here is your host, Miguel Gonzalez.

 

HOST

Good morning and welcome to the CORTBURG SPEAKS RETIREMENT audio podcast.   

On this week’s audio podcast, I talk about 4 unique opportunities available for women business owners to grow their businesses.  

The National Women's Business Council estimates that there are more than 13 million women-owned businesses in the U.S., generating nearly $2 trillion in annual revenue.1  To aid in these impressive efforts, many governmental and private organizations have committed to improving the resources and aid available to women-owned businesses. From grants and loans to federal contracting aid, here are four unique opportunities for women business owners to grow their businesses.

1.   Network with the National Association of Women Business Owners (NAWBO)

NAWBO is a membership-based organization that focuses on connecting women in business with each other so they can learn from others' experiences. Networking can be a challenge, especially for those in male-dominated industries. NAWBO attempts to level the playing field by connecting women with others in similar industries or business types. NAWBO also offers online discounts and educational resources for its members.

2.   Get Federal Contracts with the Small Business Administration's Federal Contracting Program

The Small Business Administration (SBA) offers a variety of programs targeted to women-owned businesses and female entrepreneurs. Its Women-Owned Small Business (WOSB) Federal Contracting Program focuses on improving access to technical industries.2  Federal law requires government agencies to set aside a certain number of contracts for qualified economically disadvantaged WOSBs, which helps these businesses get a leg up when competing against larger or more established businesses for government contracts.

3.   Apply for Grants and Loans Designed for Women-Owned Businesses

There are a variety of grants available for women in business, both through the SBA and through other governmental and private organizations. Just search for "women-owned business grants in [state]" and you'll find a variety of federal and state-level grant programs you may be able to take advantage of.

The SBA also has a Women-Owned Business Program, which has grants and loans available to any businesses that are at least 51 percent owned and controlled by women. Your local SBA office will have more information on the programs in your region.3

4.   Gain Certification from the Women’s Business Enterprise National Council (WBENC) or the U.S. Women's Chamber of Commerce (USWCC)

The WBENC certifies women-owned businesses through a formal assessment and site visit. Having this certification can make it much easier to apply for grants, loans, and scholarships targeted to women-owned businesses (including SBA grants and loans).

Another organization that promotes and advocates for women business owners is the U.S. Women's Chamber of Commerce. The USWCC also certifies women-owned small businesses and was one of the pioneers in advocating for equal pay and contract access for women-owned businesses.

In Closing

The number of women-owned businesses continues to grow, and the opportunities listed above have helped drive this trend. By taking advantage of these resources and working as a mentor to other women entrepreneurs, you can work to level the playing field both for your own business and for the other women-owned businesses that come after you.

Make sure to visit our website, www.CortburgRetirement.com. Our site is filled with educational videos, eBooks, publications, and financial calculators designed to help you learn more about your finances.  As you search our site, send us a note regarding any questions you may have about any particular investment concepts or products. We will get back to you quickly with a thoughtful answer.

This is Miguel Gonzalez, Certified Retirement Counselor (CRC) and Managing Partner, with Cortburg Retirement Advisors signing off for this week’s educational podcast.  

DISCLOSURES  

Opinions expressed are subject to change without notice and are not intended as investment advice or a solicitation for the purchase or sale of any security. Please consult your financial professional before making any investment decision. 

All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

CRC conferred by The International Foundation for Retirement Education.

Securities offered through LPL Financial. Member FINRA/SIPC. Investment advice offered through Private Advisor Group, LLC, a registered investment advisor.  

Private Advisor Group, LLC and Cortburg Retirement Advisors, Inc. are separate entities from LPL Financial.

Investing involves risk including possible loss of principal.

  • Content in this material is for educational and general information only and not intended to provide specific advice or recommendations for any individual. 
  • All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy.
  • This article was prepared by WriterAccess.
  • 1 "NWBC 2019 Annual Report," www.nwbc.gov/wp-content/uploads/2019/12/20204228/NWBC-2019-Annual-Report-508compliant.pdf
  • 2 "SBA Small Business Contracting Assistance Programs  for Women,” sba.gov/federal-contracting/contracting-assistance-programs/women-owned-small-business-federal-contracting-program
  • 3 SBA Regional Offices, www.sba.gov/tools/local-assistance/regionaloffices

 

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Miguel Gonzalez, MBA, AIF®, CPFA®, PPC®, CRC®

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