It’s true that it remains a tight capital market so finding investors in the private traditional financial institutions and locating public grant and loan funding is still challenging. Even as banks ease up on credit availability they are tightening requirements for credit approval. On the public sector side of doing business, Congress is reining in spending and that means less government money available to flow into grants and low interest small business loans. Minority and Women Owned Business Enterprises (MWBEs) must find alternative sources of capital to fund their growing businesses.
It’s a fact that MWBEs have become a powerful engine for economic growth and jobs creation. According to the 2007 U.S. Census Bureau Survey of Business Owners, MWBEs now make up the fastest growing new business segment in the U.S. To continue growing requires funding to build capacity so that small to mid-sized businesses can bid on larger procurement contracts and projects.
There is no reason to miss out on opportunities for growth because of funding when there are many alternative funding sources. These sources include angel investors, venture capital and equity partner investors. MWBEs that have a proven track record of business success and are poised to take the business to the next level of growth should not wait for the economy to pick up steam. The growing determination by large corporations to increase supplier diversity spending means that MWBEs have unprecedented opportunities to bring their innovative and creative businesses to the marketplace in expanding roles.
There are investors and there are opportunities, and that is the perfect partnership.
Browse http://www.funded.com for more advice about getting your business funded.