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Four out of every 10 businesses, or 40 percent, in the United States are now women-owned, according to The 2018 State of Women-Owned Businesses Report from American Express. These businesses employ 8 percentof the total private sector workforce and contribute 4.3 percent of total revenues
The combination of women-owned businesses and firms equally owned by men and women — 14.6 million — account for 48 percent of all businesses.
In addition, the number of women-owned businesses, 2007 to 2018, grew by 58 percent, the report said.
These numbers illlustrate what we already know: Women entrepreneurs are having a tremendous impact on the small business landscape nationwide.
Yet to continue to be competitive and grow, these entrepreneurs have to find funding for their ventures. And, alarmingly, women business owners are having trouble getting bank loans. Thankfully, they still have other options, given the rise of technology-driven financial lending sources — such as online loans, peer-to-peer loans and crowdfunding.
Then there are government grants. While not widely known or used, these grants are another great option for women seeking extra funding for their business ventures. They just take a little more work.