Reuters:
Women own nearly half of the businesses in the U.S. but 97% of them report less than $1 million in revenue.
They’re being held back by factors ranging from culture to childcare and a lack of confidence, says Count Me In for Women’s Economic Independence.
‘There’s this group called the missing middle,’ says entrepreneur and women’s advocate Nell Merlino, citing U.S. Census data. ‘There are a lot of women who would like to grow their business; we found they weren’t sure how to do it.’
The need for financing and a support network of like-minded women business owners were the catalysts for Count Me In’s Make Mine a Million $ Business initiative, a nationwide contest begun in 2005 by Merlino, who is known for creating Take Our Daughters to Work Day.
The group expects 2008 to be a banner year: Merlino is counting on some 5,000 women to apply for the chance to gain a total package worth up to $85,000, including financing, to jump-start their business at a time when small business loans are becoming more difficult to obtain.
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