Small businesses contribute greatly to the American market by serving as an important mechanism by which many Americans get into the American Dream. By creating opportunities for women, minorities, and immigrants, small company helps countless enter the economic and social mainstream.
Changes
By giving new ideas, small firms also act as agents of change. A. Small firms are all about the prospects for the future, not the repetition of the past. They embrace change and competition. Yet the innovativeness of small firms and their ability to research new technologies is surprising because frequently they are resource poor, have little research and development budgets and limited manpower. Community networks can help small firms overcome their limited resources.
They frequently rely on regional understanding for significant inputs to the innovation process. Through this method of accessing and sharing knowledge with other companies within their geographical area, small companies help the flow and construction of these regional networks. The networks then also function as word of mouth promotion. If they respect one another, they refer each other. Approximately 50 years ago women made up less than 26 percent of the workforce (and they were mostly secretaries, nurses, and educators ).
But regulatory events like the Civil Rights Act in 1978, the Equal Credit Opportunity Act in 1975, and the Affirmative Action Act in 1978, opened business ownership to girls. At that same time, the role of women in society started to change. As more women successfully established, managed, and climbed companies, their accomplishments became noticed by the government and media.
Did you know?
Women’s business groups like the National Association of Women Business Owners (NAWBO) and the National Foundation for Women Business Owners (NFWBO) were based. Since the 1970s, women’s share of small business has improved dramatically. New technology and improved accessibility have had a profound impact on women owned companies. Women are now, more than ever, able to contribute to a growing economy without sacrificing as many household priorities.
The flexibility of placing one’s own hours, together with the passion of doing something for love in addition to gain, has turned into an appealing recipe for ladies. For a good deal of woman selecting a company means figuring out what you care about – everything you would like to do. Women have a tendency to want to do what makes them happy, as opposed to just what makes them money. And doing what you love leads to its own successes.
How do these girls get started? The quantity and types of financing options available for women is as good as it’s ever been, particularly in Nevada. Nevada Microenterprise Initiative distributes Small Business Association (SBA) loans of $500 to $25,000 for average business purposes. Southern Nevada CDC hosts the SBA’s Office of Women’s Business Ownership which aids individuals with starting a company through courses and seminars. The SBA 7a Loan Guarantee Program allows licensed business owners to go to banks with a guarantee from the SBA behind them. One huge advantage to begin ups right now is that the sheer quantity of information available for entrepreneurs.
Final word
Technology has made information gathering simple and fast. This includes data on loan and loans help available to women. But proving that a provider is woman possessed can be an overwhelming process, not only in regards to loans. Be sure your business truly is female owned before you attempt to take advantage of any particular treatment. The voice of small business is increasingly turning into a female one, with female entrepreneurs generating billions. If you’ve got a passion, do it! There’s a lot of support out there.