In Focus: Some resources for women entrepreneurs like initiatives, schemes & grants
#WomenInBusiness #EntrepreneurshipArkansas #WomenEntrepreneurs #TheNaturalState #ArkansasInnovation
The southern U.S. state bordering the Mississippi River – Arkansas or “The Natural State,” offers women entrepreneurs a wealth of opportunities and resources, despite ranking 47th in the nation for women-owned businesses. With its strategic location, abundant natural beauty & supportive business ecosystem, the state is gradually emerging as a hotspot for entrepreneurial growth.
Centered between Canada and Mexico & located in the middle of the United States, Arkansas is strategically placed to reach millions of people easily and cost-efficiently. Arkansas is also home to 44 higher learning institutions that produce a highly skilled and educated workforce, preparing women to meet the challenges of modern business environments.
Rising Above: How Arkansas is Supporting Women Entrepreneurs
Women entrepreneurs in Arkansas can access numerous resources, including the Arkansas Small Business and Technology Development Center (ASBTDC) and Innovate Arkansas – which provide crucial business planning, mentorship & financial guidance. Additionally, the Arkansas Women’s Business Center is dedicated to helping women access capital and develop their businesses. These resources are essential for women looking to launch or grow their ventures in industries such as tech, agriculture, or tourism.
While Arkansas faces challenges, the state’s commitment to entrepreneurship – highlighted in the 2023 Arkansas Women’s Commission report – has made it a focus to uplift women-owned businesses. By improving access to capital, training & networking, Arkansas has the potential to become a more competitive state for women entrepreneurs, boosting both the economy and job growth. It appears that women entrepreneurs indeed, can give the Arkansas economy a dramatic boost; and the Arkansas Women’s Commission is pointing the way.
Here are some resources like initiatives, schemes and grants that are available for women entrepreneurs in Arkansas.
> Arkansas Women’s Business Center
Quite significantly, America’s small businesses have always been an engine for innovation and job creation. In fact, in Winrock’s home state of Arkansas, women-owned small businesses have been growing at a rate 1.5 times faster than the national average. Through the Arkansas Women’s Business Center (AWBC), Winrock is helping fuel that trend.
AWBC is committed to providing – technical assistance, training & access to capital services tailored to meet the needs of women business owners. The Center is funded, in part, through a Cooperative Agreement with the U.S. Small Business Administration. And it is in a network of over 100 Centers located through the nation.
They provide the following technical and financial assistance to women entrepreneurs: Assist interested companies to ensure disadvantages entrepreneurs receive support; Assess current client capabilities; Provide opportunities to participate in training activities, Provide business plan development support, Develop market feasibility studies. Provide mentoring assistance, Enhance links to capital investments & Locate federal, state, and local funding assistance.
https://winrock.org/projects/awbc/#:~:text=AWBC%20is%20committed%20to%20providing,Centers%20located%20through%20the%20nation
> Arkansas Women’s Business Fund
The Arkansas Women’s Business Fund is a pivotal resource for women business owners in search of capital – providing credit enhancements & assistance to entrepreneurs across the state.
Research conducted by the Arkansas Asset Funders Network (AR AFN) in 2021 and 2022 identified and addressed key challenges women business owners face: limited credit scores, collateral coverage & access to capital.
The Arkansas Women’s Business Fund introduced a new model – to address the historic gap in financing by offering lenders a guarantee of 20% to 75% on qualified women-owned businesses. This is not just financial support, but it is a commitment to leveling the playing field and fostering economic growth.
The Arkansas Women’s Business Fund is open to lenders and women-owned businesses across Arkansas.
This is actually empowering connections for success. More than just a fund, the AWBF
is a catalyst for forging connections. What is it that they do? They connect women
business owners with lenders and support organizations, positioning them for sustained
access to capital and support. Together with existing and new woman-focused
programs, they aim to eliminate barriers hindering the growth of women-owned and
operated businesses.
https://assetfunders.org/resource/arkansas-womens-business-fund/
> Women’s Foundation of Arkansas (WFA)
Since the launch in 1998, the WFA’s guiding principles have been consistent – to understand the diverse needs & realities facing women and girls so they can respond through purposeful action and engaged philanthropy.
WFA works to bring real change into the lives of women & girls across the state of Arkansas.
Their mission is – to ensure economic security for Arkansas women and girls through collaboration and focused philanthropic investment.
Through their Women Empowered initiative, they focus on the goal – to ensure economic security for all Arkansas women, as well as improve the financial futures of those who have already achieved economic security.
https://womensfoundationarkansas.org/initiatives/women-empowered/#about
> 61 Entrepreneurs and Startups Grants for Arkansas
Grants programs and opportunities are available for entrepreneurs and startups. These come in the form of – innovation funding, entrepreneurial support, mentoring, incubators and accelerators for early-stage startups, mentoring and seed funding for startup development, entrepreneur grants, startup grants programs and opportunities, entrepreneurship and more.
> The Venture Center
At The Venture Center, they believe in equipping entrepreneurs with the tools they need-to launch, encourage inclusivity and diversity, and cultivate life-changing connections. Build and grow your business with the help of The Venture Center’s free programming. Their strong initiative – VCWoman Achieve is a statewide mentorship programme bringing Arkansas’s women entrepreneurs the opportunity to develop life-changing relationships to drive professional growth. It is dedicated to – forming meaningful relationships and helping an entire community of women flourish professionally. In VCWoman Achieve, women entrepreneurs who are looking for professional coaching will be thoughtfully matched with seasoned women executives/entrepreneurs and will spend the next 12 months growing together.
https://www.venturecenter.co/entrepreneurs/mentorships/vcwomanachieve/
> Winrock International – Arkansas Women’s Business Center
This is fit for any woman who wants a wide range of services from which to choose. It’s an excellent opportunity to take advantage of everything – right from training to procurement.
> Online Classes from Arkansas Women’s Business Center
Any woman who wants to set themselves up for success can make use of this facility. This group is committed to providing the mentorship and advantages that will help disadvantaged groups find their footing.
> Arkansas Women in Business Center
This resource is perfect for those who want to meet fellow professionals and learn more about the opportunities available for women in business.
> WomensNet – Arkansas
Any woman struggling to find the necessary capital to invest in their business can get help from here.
> Small Business Administration
Women business owners who want to explore how this federal resource can help them expand their business in Arkansas and beyond.
> Little Rock Regional Chamber – Small Business Resource
Any woman in the Little Rock area, who wants to learn more about both local and statewide opportunities can approach them.
> Arkansas Small Business and Technology Development Center
Any woman who wants to learn more about the reality of obtaining grants, loans, or additional funding for her business can reach out here. This is also a perfect opportunity to get general financial advice when it comes to allocating funds for different initiatives.
> Women’s Foundation Arkansas
This resource is perfect for women who want to be connected with professionals and groups in their area, that can help them map out stronger financial futures.
> LiftFund
This is right for any woman who wants to explore how lenders can help supplement personal savings or government aid.
https://startupsavant.com/womens-business-resources-arkansas
Arkansas Government Agencies
> State of Arkansas – Business Division
The State of Arkansas business division includes resources – for owning a business, starting a business, business entity search, and State Divisions for labor, workers compensation & professional licensing.
You can also apply for a child-care facility license, get an alcoholic beverage permit, access the taxpayer portal, request a corporation certificate of good standing, file corporate documents, and more.
> Arkansas Small Business Administration – SBA
The SBA’s Arkansas district office provides services including – funding programs, counseling, federal contracting, certifications, and disaster recovery assistance. They can also teach you how to register your business, access state and federal resources, and also find lenders in your area.
The main office in Little Rock serves the entire state of Arkansas.
https://www.lisamasiello.com/women-entrepreneurs-start-a-new-business-in-arkansas
Arkansas Agencies & Non-profit Organizations
> Arkansas Small Business and Technology Development Center – ASBTDC
Whether your dream is to be an entrepreneur or you’re already an owner – the ASBTDC assists you get to the next phase.
ASBTDC centers assist all types of for-profit businesses, from home-based to high-tech. You can receive one-on-one confidential consulting and cutting-edge market research at no charge, or expand your expertise through affordable educational events.
Additional ASBTDC offices are located in Fayetteville, Fort Smith, Jonesboro, Magnolia, Monticello, Russellville, and West Memphis. Satellite ASBTDC locations are in Bentonville, Camden, and Hot Springs.
> Fuel Accelerator
Fuel Accelerator gives tech startups the right training necessary to become enterprise- ready.
This 12-week accelerator matches seed and growth-stage tech startups, who have an established product and are ready to pursue their first enterprise customer with key enterprise partners in order to accelerate the adoption of tangible technology solutions. Participant companies must have some initial funding or revenue to be eligible, and must have a team member present in Northwest Arkansas during the 12-week programme.
> The Conductor
The Conductor empowers entrepreneurs and innovators with entrepreneurship resources, events & programmes.
Entrepreneurship resources include: one-on-one consultations, the Conductor Connect SME network, the Arnold Innovation Center for co-working, meetings, and events, the Arkansas entrepreneurship policy framework that supports the entrepreneurial culture, and Kiva loans.
Event topics include Legal Insights for Entrepreneurs, Managing by the Numbers, What You Need to Know about Local and Government Contracting, Banking on Success, and How to Sell to Higher Education, among others.
Programs include 10x Growth Accelerator: Scaling Arkansas’ High-Growth Ventures, and Healthcare Innovation Sprint that creates entrepreneurial and interactive learning opportunities for college students.
> Arkansas APEX Accelerator
The mission of the Arkansas APEX Accelerator is – to assist Arkansas businesses in obtaining government contracts.
The Arkansas APEX Accelerator has provided services to Arkansas-based businesses since 1993. In that time, more than a billion dollars in federal and state contract awards have been performed by APEX Accelerator clients.
Arkansas APEX Accelerator is part of the Community, Professional, and Economic Development Department of the University of Arkansas Cooperative Extension Service.
> The Venture Center
The Venture Center equips entrepreneurs – with free programming to launch & grow businesses.
Entrepreneur support includes – turning ideas into a viable business, participating in pitch events to compete for funding, growing cybersecurity skills, accessing mentorship resources, and also join a student collective – to prepare for entrepreneurship. Accelerator programmes include events – like the financial services FIS Fintech Accelerator.
https://www.lisamasiello.com/women-entrepreneurs-start-a-new-business-in-arkansas
Funding – State and Federal Sources
> U.S. Small Business Administration
The Little Rock office of the Small Business Administration serves all 75 counties in Arkansas. The office provides a number of services like – help with loans, investment capital, disaster assistance, surety bonds, and grants to start and grow a business as well as to recover from a disaster.
https://www.lisamasiello.com/women-entrepreneurs-start-a-new-business-in-arkansas
> Amber Grants for Women
In 1998, WomensNet founded the Amber Grant. This was one of the very first online organizations to give women-owned business grants, Business women from Arkansas (and all over North America) can apply for our monthly $10,000 Amber Grant. They give out THREE of these $10,000 business grants every month.
If you’re selected, you’ll automatically be entered into receiving one of our THREE year- end $25,000 Amber Grants. That’s a grand total of $35,000 in grant money this year that can be used by you!
https://ambergrantsforwomen.com/
> 321 Arkansas Small Business Grants
321 Small Business Grants for Arkansas
These are grants to individuals – to start or grow a small business including grants for women, minorities and veterans.
https://arkansas.grantwatch.com/cat/13/small-business-grants.html
Avtar Madan
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