In focus: Some initiatives, schemes & grants available for women entrepreneurs in Wisconsin
#WomenEntrepreneurs #WisconsinBusiness #EconomicEmpowerment #FemaleFounders #BusinessGrowth #SupportWomen #WomenInBusiness
Women entrepreneurs in Wisconsin, affectionately known as “The Badger State,” are making remarkable strides in the state’s economic landscape. According to the Wisconsin Department of Agriculture, Trade, and Consumer Protection, women-owned businesses have surged by 34% since 2007, underscoring the growing influence and contribution of female entrepreneurs in the region. This rise is fueled by a variety of supportive organizations and initiatives aimed at fostering women’s economic empowerment.
Among the key players is the Women’s Business Development Center of Wisconsin, which offers vital resources such as training, mentoring, and access to capital – ensuring that women entrepreneurs have the tools they need to succeed. Similarly, the Wisconsin Women’s Network connects women across the state, providing a platform for advocacy, leadership development & support.
Cities like Madison and Milwaukee are also at the forefront of this movement, launching various initiatives designed to promote women’s economic participation. These urban centers recognize the importance of women in driving innovation and economic growth, and thus, actively support their entrepreneurial ventures.
Leading the way among women-owned businesses, the health care and social assistance sector make up nearly two-thirds of the total share of establishments. This sector is vital, encompassing ambulatory health care services, hospitals, nursing and residential care facilities, and home health aides, which not only bolster the regional economy but also enhance community well-being. Additionally, the diverse “Other Services” category includes ventures from equipment repair to pet care, highlighting the broad range of women-led businesses that serve Wisconsin’s communities.
The retail trade sector, though third in terms of share, boasts the highest number of women-owned enterprises, with nearly 25,000 establishments statewide. These retail businesses are crucial in providing a variety of products and services, contributing significantly to the local economy.
Here are some initiatives, schemes and grants available for women entrepreneurs in Wisconsin.
> The Foundation for Wisconsin Women Entrepreneurs
The Foundation for Wisconsin Women Entrepreneurs is a non-profit organization that funds E3, Experiential Entrepreneurial Education for women. Plus, through GIRLS’BIZ, they empower girls – to start and manage their own group business.
To elaborate GIRLS’BIZ empowers middle school girls, ages 11 through 13 – to develop and manage their own group business.
The whole process is laid out in detail. Every year, girls come together under the leadership of adult business advisors, who assist them. They help them choose a company name and work with a designer on a logo. The girls survey Wisconsin Women Entrepreneurs – Southcentral members for product ideas and use the survey results to select products. Thus, they learn skills needed for running a business – how to price, purchase and market the products, to manage finances and more. Each year, part of the profit becomes a charitable gift chosen by the group, and the remaining profit funds a group trip at the end of the program year.
https://thefoundationforwwe.org/
> Women’s Entrepreneurship Network @Wisconsin School of Business
The representation of women in entrepreneurship is growing rapidly both locally and nationally. The Wisconsin School of Business, the Weinert Center for Entrepreneurship and the Small Business Development Center provide a platform – to help inspire, educate and assist women interested in entrepreneurship at the UW and in the community.
Promoting female and minority representation in entrepreneurship is one of their core objectives.
Many alumni of their programmes have gone on to launch startups and numerous women on their faculty, staff and advisory boards provide opportunities and support – through a variety of our programs.
https://business.wisc.edu/centers/weinert/resources/womens-entrepreneurship-network/
> State of Wisconsin Women’s Council
The Women’s Council is Wisconsin’s statutory commission on the status of women & girls. Established in 1983, the Council promotes initiatives that empower women, serves as a clearinghouse for information on the status of women in the state, conducts independent research & promotes unique partnerships to further women’s economic and social equality and improve this state’s tax base and economy.
The mission of the Wisconsin Women’s Council is – to enhance the ability of all Wisconsin women to participate fully and equally in all aspects of life. The State of Wisconsin is committed to providing woman-owned businesses with a credible certification that validates their business ownership. The program is administered by the Wisconsin Supplier Diversity Program, Wisconsin Department of Administration.
Woman’s Business Enterprise (WBE) certification requires that the business is, at a minimum, 51% owned, managed and controlled by a woman or women applicant(s). An applicant will be required to provide a copy of business tax returns along with other proprietary documentation to support their application.
https://womenscouncil.wi.gov/Pages/Initiatives/BusinessOwnership.aspx
> Women’s Entrepreneurship Week WEW
Women’s Entrepreneurship Week is a global celebration to empower women entrepreneurs worldwide.
WEW’s mission is to bring together Wisconsin women – entrepreneurs, founders, small business owners, professionals & more – for a week of events designed to inspire, educate, and celebrate our businesses, ourselves, and our contributions to our communities.
At the annual event – WEW 2024, the theme was – “Building the Table,” where they celebrated the spirit of entrepreneurship by fostering connections, empowering innovation, and encouraging growth within our community. It was an inspiring week filled with engaging keynotes, interactive workshops, and valuable networking opportunities.
https://shestandstallmke.com/womens-entrepreneurship-week
Wisconsin Government Agencies
> State of Wisconsin Business Services
This is your one-stop-shop for Wisconsin business services including – Economic Development, Economic Indicators, Finding Employees, Infrastructure, Taxes, Training Employees, and Government Resources.
Featured services include:
One Stop Business (OSB) Registration: OSB creates an easy step-through process where Wisconsin’s businesses can find the requirements and tools they need to start a business in Wisconsin.
Business Tax Information: Access tax information, forms, resources and frequently asked questions as a business through the Department of Revenue website.
Job Center of Wisconsin Employer Tools: Need to post a new opportunity or search for a potential resume match? The Job Center of Wisconsin connects talent with opportunities throughout the State of Wisconsin.
> Wisconsin Small Business Administration – SBA
The SBA’s Wisconsin offices provide a number of services including – funding programs, counseling, federal contracting, certifications & disaster recovery. They can also connect you to partner organizations, lenders, and other community groups that help small businesses succeed.
Both offices in Milwaukee and Madison are available to serve all 72 counties across Wisconsin.
A sample of event topics include Estate Planning for Women in Business, Start a Small Business in 8 Steps, Wage and Hour Laws and Retirement Plans, and Financial Management: Building Financial Confidence in Your Business.
https://www.lisamasiello.com/women-entrepreneurs-start-a-new-business-in-wisconsin
Wisconsin Agencies & Non-profit Organizations
> Wisconsin Women’s Business Initiative Corp. Appleton – WWBIC
Wisconsin Women’s Business Initiative Corporation (WWBIC) actually opens up opportunities – by providing individuals who are interested in starting, strengthening or expanding businesses with access to critical resources such as responsible financial products and quality business and personal finance training. They focus on individuals who face barriers in accessing business financing and training support, including women, people of color, veterans & other lower-wealth individuals.
WWBIC is a leading innovative statewide economic development corporation that’s been “Putting Dreams to Work” since 1987. They work hard to achieve their social goal – of improving the economic well-being of individuals by advancing inclusive entrepreneurship and facilitating self-sufficiency strategies.
They offer services like –
Start or grow your business: Resources and expert advice to help launch and grow your business with over 400 workshops offered each year.
Finance your business: As the State’s largest microlender providing access to fair capital for business start-ups and expansions, WWBIC makes loans to small and micro businesses up to $350,000.
Strengthen your finances: WWBIC offers education and coaching to build life-changing money skills.
In addition to the center in Milwaukee, WWBIC has a South Central regional office in Madison, a Southeast regional office in Racine, a Southeast regional office Kenosha, a Northeast regional office in Appleton, and a Southwest regional office in La Crosse.
https://www.wwbic.com/about-wwbic/faq/
> Wisconsin Small Business Development Center – WSBDC
The Wisconsin SBDC offers a number of facilities – like consulting, education, referrals, tools, and resources, whether you’re just getting started or looking for ways to improve your business. If you are considering these options, then this is the place to check out. Determine if your business idea is feasible: Do you have a business idea and want to find out if it’s worth your investment? WSBDC can help you determine if that idea can become a business and how to get started.
Launch a new business: Time to launch your business but you’re not sure where to start? Let the Entrepreneurial Training Program and other resources guide you. Get financing for your new or growing business: Finding people who believe in your idea as much as you do can be difficult, especially when it comes to funding. WSBDC can help secure initial funding or aid in expansion.
Grow your existing business: An established business’ next steps are maintenance and often growth. Take advantage of WSBDC cybersecurity and business management programs.
> Women’s Business Development Center – WBDC
The Women’s Business Development Center Wisconsin office in Milwaukee supports and accelerates business development and growth, targeting women and serving all diverse business owners.
The services they offer include:
Coaching and Education including strategic one-on-one and group business advising, specialized cohort-based curricula and workshops, and digital learning.
Contracts including private sector procurement opportunities, public sector contracting
assistance, and WBE (Women’s Business Enterprise) certification.
Capital including financial education, debt and equity placement, direct lending, and Kiva microlending.
> BizStarts
Whether your business is in the pre-revenue stage or you have launched – BizStarts provides structured guidance to clear the path for your next step forward. The organization provides – one-on-one coaching, personalized mentoring & business connections.
BizStarts brings entrepreneurs together from all backgrounds, ethnicities and beliefs to create a collaborative learning environment that embodies positivity, inspires confidence, and develops people’s capacity to achieve personal success and business growth.
> Western Wisconsin Women’s Business Center
The Western Wisconsin Women’s Business Center is a program of Western Dairyland EOC Inc. And, it is funded in part through a cooperative agreement with the U.S. Small Business Administration.
Services are designed to provide entrepreneurs with access to individualized as well as group business training, referrals, financing, technology, and ongoing business case management services. Owners of start-up, existing, and expanding businesses receive technical assistance in all aspects of business operation including business plan development, feasibility studies, marketing assistance, business management, and operations. Special efforts are made to assist economically and socially disadvantaged women.
The Western Wisconsin Women’s Business Center serves woman in Barron, Buffalo, Chippewa, Clark, Dunn, Eau Claire, Jackson, Pepin, Pierce, Polk, St. Croix, and Trempealeau counties.
> Doyenne Group
“Doyenne” stands for – a woman who is knowledgeable, respected & prominent in a particular field or profession. Women and marginalized gender(s) entrepreneurs are powerful players in a country’s economy. Doyenne aims to bring strong, motivated people together to advance early-stage, scalable ventures into their next phase of success to effectively change the face of entrepreneurship.
While the majority of the organization’s ventures have some sort of technology business sector basis, they typically fall into the categories of technology (broad), service provider, and product manufacturing (food production is included in this category).
> SCORE Wisconsin
SCORE Wisconsin mentors are experienced entrepreneurs, business owners, corporate managers, and executives with a diverse set of industries and specialties who volunteer their experience and knowledge to help small business professionals start, develop, and grow businesses. They offer free and confidential mentoring along with low-cost or no-cost business training, seminars, workshops, and numerous tools and templates.
They provide free and confidential one-on-one business counseling by phone, email, and in-person in the Southeast Wisconsin area and conduct workshops for both start-up entrepreneurs and seasoned small business owners.
The SCORE office in Madison serves Columbia, Crawford, Dane, Grant, Green, Iowa, Lafayette, Richland, Rock, Sauk, and Vernon counties. The Southeast SCORE office serves Milwaukee, Waukesha, Washington, Racine, Kenosha, Sheboygan, Ozaukee, Dodge, Jefferson, and Walworth.
https://www.lisamasiello.com/women-entrepreneurs-start-a-new-business-in-wisconsin
Funding – State & Federal Sources
> U.S. Small Business Administration Funding Sources
The U.S. Small Business Administration helps small businesses get the funding they need.
Funding resources include:
Loans – Start or expand your business with loans guaranteed by the SBA.
Investment capital – Find an investor for your business. Investors make both debt and equity investments.
Disaster assistance – Get help after a disaster with low-interest disaster loans.
Surety bonds – Protect your work and your client with an SBA-guaranteed surety bond.
Grants – Look for government grants that help businesses do scientific research and development.
> Wisconsin Economic Development Corporation – WEDC
The Wisconsin Economic Development Corporation offers various funding opportunities.
Capital Catalyst Program: Matching grants to seed funds managed by local communities and other eligible entities to provide capital to high-growth startups and emerging growth companies.
Entrepreneurial Micro-Grants: Grants to support business planning and strategy for Wisconsin entrepreneurs and small business owners, administered through the Center for Technology Commercialization.
Entrepreneurship Partner Grant: Grants to encourage the formation of entrepreneurship support programs and to develop startup and emerging growth companies in the state of Wisconsin.
Qualified New Business Venture (QNBV) Certification: Helps drive investment to innovate early-stage Wisconsin companies by allowing investors to claim a 25 percent tax credit on the amount they invest into a QNBV-certified business.
SBIR/STTR Matching Grant: Grants to stimulate technological innovation by supporting technology-based Wisconsin small businesses, administered through the Center for Technology Commercialization.
Technology Development Loan Program: The program provides direct financial assistance to startup and emerging growth companies in Wisconsin that are developing and commercializing innovative products and services at critical stages in their development.
Wisconsin Investment Fund: Launching in 2023 with $50 million in investible resources,
the Wisconsin Investment Fund will provide venture capital investment through
designated fund partners.
https://www.lisamasiello.com/women-entrepreneurs-start-a-new-business-in-wisconsin
Avtar Madan
Himanshu
Shree Lahiri
