Women having a difficult time raising startup capital should consider these self-funding methods
By Deborah Sweeney
How do women entrepreneurs finance their small businesses in 2019? According to the 650 female small business owners surveyed in Visa’s State of Female Entrepreneurship study, 61% chose to self-fund their own startup.
The decision to self-fund, according to the report, is one that the majority of women in business often make out of necessity. Those surveyed reported it was difficult to obtain the funding they needed for their companies—only 25% of female entrepreneurs received any type of funding from investors. And, in some cases, their funding efforts weren’t even provided in full: 8% received only partial funding from investors.
The good news for female entrepreneurs unable to get outside financing? There are several financing options available for self-funding. Women who are having difficulty obtaining capital through traditional investors should consider these funding methods instead.
Nearly two-thirds of the women surveyed by Visa self-funded their businesses. While the numbers do not specifically point to bootstrapping as an option, I like to think many opt for this financing route.