In Focus: Some resources available for women entrepreneurs like initiatives, schemes & grants in Vermont
#WomenEntrepreneurs #VermontInnovation #EmpowerHer #FemaleFoundersVT #SustainableBusiness
Vermont, often celebrated for its picturesque landscapes and community-driven spirit, is also carving out a name for itself as a hub for women entrepreneurs. Ranked as the fifth-best state for female founders in a recent report by Lensa, “The Green Mountain State’s” entrepreneurial ecosystem is a mix of unique challenges and abundant opportunities. The state’s rural nature and harsh winters pose blockages like – limited access to funding and logistical barriers, but these very challenges foster creativity, resilience & a collaborative spirit among women entrepreneurs.
“The Green Mountain State’s” Rising Impact in Business
Many Vermont-based women entrepreneurs are tapping into the state’s strengths by focusing on sustainable ventures, agritourism & locally sourced products. The state’s growing tourist industry, combined with its commitment to sustainability, provides a solid foundation for these ventures. Associations like the Vermont Women’s Fund and the Center for Women in Business are also empowering women entrepreneurs – by offering critical resources, networking opportunities & financial support.
As more women in Vermont continue to launch and scale businesses, they’re proving that determination & innovation can transform even the most challenging environments into opportunities. These trailblazers are not only contributing to the local economy but are also setting a powerful example for aspiring women entrepreneurs across the nation.
Let us now look at some resources like schemes, initiatives and grants that are available for women entrepreneurs in Vermont.
Vermont Government Agencies
> State of Vermont Commission on Women (VCW) – Business and Entrepreneurship
If you look at it, Vermont Commission on Women (VCW) is an independent non-partisan state government commission working to advance rights & opportunities for women and girls in Vermont. And VCW provides many facilities like:
– It acts as advisor and information source for legislative and executive branches and other policy makers on issues affecting women.
– It serves as an educational resource by conducting research, producing publications, and coordinating events.
– It brings together diverse groups that engage in partnerships to consider issues of interest to women and take action.
– It provides information and referrals to the public on matters related to women and families.
The business and entrepreneurship program provides – resources, information, support, and training on financing, networking, and general assistance for women and minority-owned businesses.
> Vermont Small Business Administration (SBA)
The Vermont Small Business Administration is supported by its district office in Montpelier.
They provide many services including – funding programs, counseling, federal contracting, certifications & disaster recovery. They can also connect you to partner organizations, lenders & other community groups that help small businesses succeed.
Incidentally, the Montpelier SBA office serves all 14 counties in Vermont.
https://www.lisamasiello.com/women-entrepreneurs-start-a-new-business-in-vermont
Vermont Agencies & Non-profit Organizations
> Center for Women & Enterprise (CWE) – Vermont Women’s Business Center
The Center for Women & Enterprise (CWE) is a non-profit economic empowerment organization. Their mission is – to strengthen communities & the economy by supporting women to launch and successfully sustain businesses.
The Center for Women & Enterprise (CWE) provides opportunities for women entrepreneurs and women in business – to increase professional success, personal growth, and financial independence.
The Vermont Women’s Business Center operates in partnership with the U.S. Small Business Administration. They offer – consultations, workshops and networking opportunities to help you reach your entrepreneurial goals.
Funded in part by the U.S. Small Business Administration, CWE works with the SBA in Vermont, New Hampshire, Rhode Island, Eastern and Central Massachusetts to deliver quality services to current and prospective women entrepreneurs. CWE specializes in – education, training, technical assistance and women’s business enterprise certification.
http://women.vermont.gov/business-entrepreneurship
> Mercy Connections
Mercy Connections has built a solid foundation for success – with its inclusive entrepreneurship programs that provide education & access for people, traditionally excluded from the business world. Whether you are pursuing a side project, self-employment, or a scalable small business – they are readily available to help.
Their Programs bolster women+ providing a supportive environment – to discuss the realities of work and life, build business knowledge, and explore and create opportunities.
Start Up: This course helps women+ gain knowledge & build skills critical to embark on a successful business.
Small Business Launch Pad: Designed for those who are looking for community & support – as they start their new business, Launch Pad is a supported, drop in, co- working space for folks actively working to start a new business.
Mercy Makerspace: Crafters and makers are supported in a co-working environment – to develop & create products to sell at craft and art fairs.
Mercy Marketplace: This is for artists and/or crafters, who have dreamt of selling their work. In this 13-week vendor training course, participants will apply project management skills – to explore how to sell products to the public.
> Vermont Small Business Development Center (VtSBDC)
The Vermont Small Business Development Center provides various facilities like – no- cost business advising and low-cost training, professional expertise & friendly guidance to thousands of business owners statewide.
So, whether you are an experienced business owner, a first-time entrepreneur, or a student with the spark of an idea, they can assist you with:
– Start-up Education and Planning
– Financing Guidance
– Sales and Marketing Strategies
– Growth Strategies
– Financial Management
– Risk Management
– Operations Recommendations
– Innovation and Technology Commercialization
– Entrepreneur Education for Collegiate-age Students, High School Students and Faculty
> eWomenNetwork
Truly, the greater Burlington chapter of eWomenNetwork is one chapter of many across the United States. If you are looking out to launch, grow, and scale your business you can find the perfect resource here.
> SCORE Vermont
SCORE Vermont is an all-volunteer organization. They provide free mentoring – to help start or grow your business. Serving the whole state of Vermont, other branches are located in Burlington, Montpelier, St. Albans, Middlebury, and Rutland.
SCORE provides women entrepreneurs with – a wealth of resources, templates, tools, and free expert mentoring to foster their business growth and development. The Women’s Entrepreneur resource hub offers a comprehensive array of tailored materials & guidance – to skilfully navigate through entrepreneurial challenges and opportunities.
Along with resources and tools created especially for women entrepreneurs, SCORE offers free and confidential business advice too. Plus, SCORE mentors, many of them successful women small business owners, are ready to help you achieve your business goals.
> The Women’s Agricultural Network (WagN)
Through a series of educational, technical assistance, and networking opportunities, WAgN works to increase the number of women owning and operating profitable farms and ag-related businesses. It also works to improve their profile in leadership positions throughout the agricultural sectors of business, government and community.
From developing and assessing a business idea through the advanced planning & implementation phases – WAgN offers a program to support and encourage these varying levels.
https://www.lisamasiello.com/women-entrepreneurs-start-a-new-business-in-vermont
Funding – State and 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.
> State of Vermont Agency of Commerce and Community Development (ACCD): ThinkVermont Innovation Grants
ThinkVermont Innovation Grant Program responds to the growth needs of Vermont small businesses – by funding innovative strategies that accelerate small business growth. It is designed to fund projects in areas that have been identified as crucial to the growth needs of Vermont’s small businesses.
The Grants includes many offerings like:
– Provide workforce training and recruitment (not eligible for state or federal funding);
– Establish or enhance a facility (co-working, makerspace, innovations center, etc.);
– Enable or support broadband telecommunication access;
– Leverage federal funding (such as Small Business Innovation Research [SBIR] grants);
– Support growth in Aerospace, Aviation, or Aviation Technology; OR
– Provide technical assistance to growing Vermont businesses.
> Community Capital of Vermont
Community Capital specially offers financing and additional assistance to businesses in Vermont that do not yet meet all the requirements for traditional bank financing – thus, allowing small-business owners and low-income entrepreneurs to start their businesses and flourish. The Vermont Job Start Loan Program helps develop self-employment opportunities for low and moderate-income Vermonters.
Flexible Business Financing: Community Capital offer varying loan rates and terms, seasonal payments, and also post-loan support – to people who lack credit or collateral to qualify for traditional bank loans.
Pre- and Post-Loan Support: Preparing for a loan, and then using the funds effectively is the foundation for long-term business success. From the enquiry stage through repayment, Community Capital offers business advisory services technical assistance to ensure post-loan success.
https://www.lisamasiello.com/women-entrepreneurs-start-a-new-business-in-vermont
> Community Capital
Community Capital offers financing and other assistance to businesses in Vermont that do not yet meet all the requirements – for traditional bank financing, allowing small-business owners and low-income entrepreneurs start their businesses and flourish with hindrance. So, the Vermont Job Start Loan Program helps develop self-employment opportunities for low and moderate-income Vermonters.
> Northeastern Vermont Development Association
The Northeastern Vermont Development Association (NVDA) offers loan services & other financial assistance in conjunction with the VTSBDC. The NVDA provides resources – for small business start-ups, economic/community projects & various parties in need of loans or help paying loans.
> Opportunities Credit Union (OCU)
Opportunities Credit Union (OCU) promotes grass-roots community development in Vermont through – home ownership, small business development, reliable transportation, financial stability & economic literacy. The organization services 220 towns and cities all across the state, providing financial assistance to those who need it throughout Vermont with the help of their investors and partners.
> Vermont Community Loan Fund
The Vermont Community Loan Fund (VCLF) offers loans to – community-based nonprofit organizations, affordable housing projects, community-wide economic development strategies, businesses that use Vermont’s resources, and businesses located in Burlington’s Old North End. The VCLF also provides financial consultation & development services – to ensure that borrowers have all the resources they may need to achieve their goals.
> Vermont Farm Women Fund
Here, the Vermont women farmers have banded together – to form the Vermont Farm Women Fund, which gives loans and grants to aid women in agriculture, build thriving businesses, influence agricultural policy development, and support the awareness of women farmers. The VFWF has made it their mission to support and build women farmers in the Vermont area and provide them with the financial resources to thrive economically and bring awareness to the issues regarding women in the agricultural community.
http://women.vermont.gov/business-entrepreneurship
> Women Business Owners Network (WBON)
The Women Business Owners Network (WBON) is a Vermont-based association in Northern New England. WBON offers a forum for women – to connect and learn; and they share what they know and learn from one another.
Since 1984, WBON has been creating opportunities for members to exchange information and resources in an atmosphere of mutual respect. The network has chapters in Burlington, Williston & Waterbury.
Avtar Madan
Himanshu
Shree Lahiri
