Minority women business owners are breaking barriers.
The Minority Business Development Agency study demonstrated that businesses owned by minority women grew at a rate twice as fast as non-minority men and women and minority men from 1997 to 2002. The business owners hire more employees than traditional firms, as well. Nevertheless, minority women-owned businesses are mostly constrained to lifestyle services such as beauty salons and clothing retail. The disproportionate barrier between minorities and wealth still remains; most of the minority women-owned firms only capture an insignificant amount of the country's overall wealth. Access to capital, such as grants, may aid women in expanding their businesses and succeeding as entrepreneurs.
Catalog of Federal Domestic Assistance
The Catalog of Federal Domestic Assistance offers support or benefits to for-profit corporations and nonprofit organizations. Businesses must be involved in technology and scientific research and development, agriculture, education and medicine. Many of the federal government grants are provided to state and regional governments, specifically inner-city communities, to revitalize economic development.
Federal Domestic Assistance
200 Independence Ave., S.W.
HHH Building
Washington, DC 20201
202-512-1800
cfda.gov
Foundation for Women
The Foundation for Women began in 1997 to provide national and international impoverished women with business funding through microcredits. Microcredit programs offer small loans to those in poverty who are interested in pursuing entrepreneurship. The grants enable women to create viable business plans, purchase materials and equipment, or market their businesses. The assistance allows women to establish emergency funds during professional transitions, or undergo professional development with community college programs.
Foundation for Women
4747 Morena Blvd.
Suite 375
San Diego, CA 92117
858-483-0400
foundationforwomen.org
The American Association of University Women
The American Association of University Women offers annual Career Development Grants to support women with bachelor's degrees as they pursue professional development or enter new fields such as entrepreneurship. Much consideration is given to women of color. Eligible candidates must seek their first professional degree or certification. The funding covers the costs of books, transportation, conferences and distance learning. The association gives 700 awards per year totaling $500,000, as of 2010.
National Office
AAUW
1111 16 St. N.W.
Washington, DC 20036
800-326-2289
aauw.org
Tags: Domestic Assistance, Federal Domestic, Federal Domestic Assistance, Foundation Women, American Association
