In Focus: Some schemes, initiatives and grants for women entrepreneurs in New York
#WomenInBusiness #NYCEntrepreneurs #EmpowerHer #WomenLeadNYC #InnovateNYC
New York City, the bustling metropolis famously dubbed “The City That Never Sleeps”, is not only an epicenter for culture and finance but also a thriving hub for women entrepreneurs. With a population of 8.4 million, NYC offers an unparalleled ecosystem for women to launch and grow their businesses. NYC is the best city in the world according to a new global index 2024.
So, ranked as the No. 1 city in the world for its economic prowess, the “Big Apple” is a beacon of opportunity, especially for women-led enterprises.
NYC’s Secret to Success: Investing in Women Entrepreneurs
What makes New York City stand out in the crowded landscape of global entrepreneurship? Quite correctly, it is its robust support system tailored specifically for women entrepreneurs. The city is home to over 410,000 women-owned businesses—more than double that of any other U.S. city. This is no accident; NYC has strategically invested in diversity and inclusivity by implementing policies that combat pay discrimination, awarding city contracts to minority and women business enterprises, and fostering female-led startups through initiatives like WENYC.
No other city in the world has more female-founded firms than New York. A quarter of NYC’s tech founders are women, and tech is the city’s quickest growing sector.
Moreover, with the recent launch of women.nyc, New York has set a new benchmark in providing resources, mentorship, and financial support to aspiring and established women entrepreneurs. This forward-thinking approach not only empowers women but also drives the city’s economy forward.
Today, women entrepreneurs are at the forefront of creating innovative solutions, generating employment & spearheading sustainable development. Now, let us look at some schemes, initiatives and grants that are available for women entrepreneurs in New York.
> WE NYC (Women Entrepreneurs NYC)
WE NYC – Women Entrepreneurs of New York City, is the official initiative of the City of New York – to support and empower women entrepreneurs. It is dedicated to helping women start and grow their businesses.
It was launched in November 2015 by the First Lady of New York, Chirlane McCray, and Deputy Mayor Alicia Glen). Housed under the Department of Small Business Services, WE NYC is committed to expanding the economic potential of women entrepreneurs and small businesses.
In fact, when the WE NYC initiative was established, it was the first of its kind in a major American city to empower women to pursue entrepreneurship in a range of sectors, including retail trade, personal care services, and construction. WE NYC developed tailored programmes and tools with women entrepreneurs – through user-testing and feedback to create an initiative that connects women entrepreneurs with the resources, education and community they need to thrive.
Women Entrepreneurs NYC (WE NYC) empowers women entrepreneurs to start, operate, and grow their businesses by connecting women with resources and community.
Free services are available for Women Entrepreneurs across the five boroughs and in multiple languages.
> Women.NYC
Women.NYC is an ambitious programme launched in 2018, and is dedicated to driving gender representation in growing fields in New York City that have good jobs available for talent of all kinds.
By leveraging all the tools the city has to offer and working with partners who share their mission to empower women financially, Women.NYC is creating programmes that have real impact.
Resources include: Programmes to help you boost your career; Free business support and legal advice; Connections to childcare, parent-support, and healthcare resources & Information on your rights in the workplace.
From education to training to entrepreneurial offerings, Women.NYC is your path to connect to a thriving career in an industry with a big future in New York City, no matter where you are now. And if you’re already in tech, renewable energy, climate tech or life sciences, Women.NYC can assist you to forge ahead.
https://edc.nyc/program/womennyc
> Goldman Sachs 10,000 Women
They provide women entrepreneurs around the world with business and management education, mentoring and networking, and access to capital. Women entrepreneurs are critical to economic growth, yet they face obstacles in accessing the resources needed to grow their businesses.
Through 10,000 Women, Goldman Sachs provides the education, opportunities and access to capital women need to grow their businesses.
https://www.goldmansachs.com/citizenship/10000women/
> New York Women in Business (NYWIB)
NYWIB offers building businesses – one woman at a time. Their mission is to help women grow their businesses one at a time by providing skills, tools, and resources critical for success. By joining New York Women in Business (NYWIB), you join a strong network of women-owned businesses. An alliance of professional organizations they help small business owners gain access to mentoring, networking, education and valuable business resources. Their supportive community is a place to test ideas among peers and learn from experts and other successful women.
They help to gain broader exposure, share ideas and build dependable business networks and they organize events, provide access to thought leaders, community & partnerships.
Their community includes – startups, independent contractors and solo entrepreneurs in the New York Tri-State area. NYWIB spans the spectrum of business types including retail, e-commerce, food, hospitality, fashion, financial services, marketing, wellness, beauty, arts, entertainment and community service organizations.
> New York Women’s Chamber of Commerce (NYWCC)
New York Women’s Chamber of Commerce’s (NYWCC) mission is in – providing funding and resources for Women and Minority Entrepreneurs. Their focus is the economic empowerment of all women entrepreneurs. Their aim is – Promoting, Connecting and Opening Doors for Women Entrepreneurs The New York Women’s Chamber of Commerce is a membership organization dedicated to assisting women achieve success and economic independence through business ownership and self-employment.
Advocates for women and minority entrepreneurs, acting as the collective voice for women, entrepreneurs of color and small businesses on public policy and economic development decisions at all levels of government.
It connects women and minority entrepreneurs to clients, business networks, funding sources, government agencies, and corporations for business and contracting opportunities.
Opens doors by working with government, corporations, small businesses, and community stakeholders to break down barriers to entry and ensure that women and minority entrepreneurs of color are included in economic opportunities and given access to the resources they need to build capacity, grow their business and create generational wealth.
> The IWEC Foundation
Headquartered in New York City, The IWEC Foundation’s reach encompasses women who are already in the global marketplace and want to further expand as well as those who are ripe to enter international markets.
Their mission is to connect and develop a global network of successful women business owners through working with international chambers of commerce and women’s business organizations.
Our ecosystem is comprised of over 48 chambers of commerce & women business organizations. We have 501 Past Awardees (we honor awardees every year at our annual conference who were nominated by our partners), who represent women-owned companies from around the globe. The IWEC Foundation’s constituents represent some of the most influential businesswomen from the world’s most important emerging and established regions.
https://www.iwecfoundation.org/
> New York Small Business Development Center (SBDC)
The New York SBDC provides services to strengthen the small business community and promote economic growth throughout the state.
Vision: The NY SBDC brings world class business expertise to the Small & Medium Enterprise community.
Mission: The New York SBDC provides customized solutions through advisement, education, research and advocacy for Entrepreneurs, Innovators and the Small & Medium Enterprise community.
The SBDC provides services to all small business populations, including special emphasis groups such as women, minorities, Native Americans, 8(a) firms in all stages, veterans and service-connected disabled veterans, reservists called to active duty, people with disabilities, individuals currently and formerly receiving public assistance, individuals in low -and moderate- income urban and rural areas, and individuals located in Empowerment Zones and HUB Zones.
The services provided by the SBDC are available to all citizens on a non-discriminatory basis, and are tailored to the local community and the needs of individual clients. The SBDCs make special efforts to reach members of socially and economically disadvantaged groups, members of ethnic communities, women and the disabled.
https://www.nysbdc.org/services/women_minority.html
> The Tory Burch Foundation
It all about building your business here. The Tory Burch Foundation empowers women entrepreneurs – by providing access to capital, education and community.
Tory Burch is the Executive Chairman and Chief Creative Officer of Tory Burch LLC, an American lifestyle brand. She launched the company in 2004 with a boutique in New York City and an e-commerce site. The brand has since grown into a global business with boutiques from New York to Paris and Shanghai.
https://www.toryburchfoundation.org/
New York Government Agencies
> State of New York – Start a Business in New York State
New York’s State of New York Start a Business website includes information and resources on How to Form a Business Entity; Understand Required Insurance; Get Start-Up Assistance, Business Planning, and Training; Capital Financing Options; Research/Market Data; Apply for Minority Women Business Enterprise (MWBE) Certification; and more.
> NYC MyCity Business
Start, operate, and grow your business in New York City with NYC MyCity Business website. It helps you: get resources by industry; utilize business services like Certifications, Education Programs, Financial Assistance, Incentives, Initiatives, Legal Assistance, Mentorship, Recruitment and Training, and Regulatory Assistance; prepare for emergencies & understand required licenses and permits.
> New York Small Business Administration – SBA
The New York SBA is supported by main district offices in Buffalo, Metro New York, and Syracuse, as well as additional locations in Rochester, Hauppauge, Elmira, and Albany. They provide services including funding programs, counseling, federal contracting, certifications, and disaster recovery. They can also connect you to partner organizations, lenders, and other community groups that help small businesses succeed.
Examples of educational programmes and events include Business Prep: Count to 10 Before You Jump In; Basic Elements of a Business Plan; Business Pricing Strategies; Legal Basics Workshop; and Introduction to QuickBooks.
https://www.lisamasiello.com/new-york-women-entrepreneurs-start-a-new-business
New York Agencies & Non-profit Organizations
> The Women’s Business Center At Canisius University
The Women’s Business Center helps clients in all stages of business development – from the newly-established to more experienced owners who want to take their business to the next level.
The Programmes include:
WBC Business Counseling: The WBC offers a diverse set of options to help you get what you need for your business at any stage.
WBC Networking: Expand your professional outreach with public and member- exclusive networking events.
WBC Advisory and Mentorship: Become part of year-long confidential peer groups that will enable you to share issues and concerns and obtain real-world ideas and solutions.
WBC E-Commerce: Step-by-step instruction on how to incorporate e-commerce into your website.
WBC Certifications: Learn about different kinds of certifications available and how it could help you to do business with the government at the Federal, State and City/County level.
> Brooklyn Women’s Business Center at the Local Development Corporation of East New York – LDCENY
The Brooklyn Women’s Business Center serves women and minority business owners in the East Brooklyn neighborhoods. Notably, since its inception, the WBC has served thousands of entrepreneurs and small business owners through training and one-on-one counseling and coaching services.
MWBE Certification: Grow your business by getting it certified as a minority or woman- owned enterprise.
Training: Workshops and training are enhanced with individual business counseling and technical assistance.
Planning: Staff offers research assistance in understanding your market segments and identifying industry trends that support your growth plans.
Coaching: Counseling, coaching, and technical assistance is provided by highly qualified counselors who understand first hand the challenges of starting a business.
Marketing: Counselors assist with marketing strategies and campaigns to reach your target audience by identifying the best channels and platforms.
> WISE Women’s Business Center
WISE actually represents and stands for – Women Igniting the Spirit of Entrepreneurship. It is dedicated to empowering women small business owners through comprehensive training programs, counseling, and connection.
Business counseling programmes are meant for entrepreneurs at most stages, whether you’re exploring the idea of small business ownership, have an idea and need help launching, or are established and looking to grow.
Expert advice: Counselors all run their own successful businesses and speak from years of experience across various industries.
No-cost: Counseling is provided at no cost to clients. You can continue meeting with your counselor as long as you’re working towards your goals.
Tailored to you: Your counselor will invest time in getting to know you, your business, your customers, and your goals. Nothing is templatized.
Flexible: Schedule sessions weekly, monthly, or just once in a while. Meet via Zoom or in-person, whatever you’re most comfortable with.
> Small Business Development Center – SBDC New York
The New York Small Business Development Center (New York SBDC) provides expert management and technical assistance to start-up and existing businesses across the state.
The New York SBDC emphasizes counseling and training services to women, veterans, people with special needs, and minority clients. Full-time professional SBDC business advisors, with the knowledge and experience to provide entrepreneurs with expert counseling and training, staff each SBDC regional center.
> National Association of Women Business Owners – NAWBO New York City
NAWBO NYC shares resources, knowledge, and opportunities with women in the New York City metropolitan area to help strengthen their businesses. These women come from all backgrounds and run all types of businesses from sole proprietorships to partnerships to corporations, and more.
NAWBO NYC women are open to sharing their experiences, opinions, and perspectives with their fellow female entrepreneurs. Guest experts also speak on a range of topics, including leadership, sales, marketing, finance, and public policy, plus programs on work/life balance, time management, health, and more.
> New York Women’s Chamber of Commerce
The NY Women’s Chamber of Commerce empowers women and also minorities in the New York area. This is arranged by providing the resources, education, counseling, coaching and access to capital that help them achieve business and professional success.
> SCORE New York
SCORE New York offices are staffed by experienced business professionals – who guide those desiring to start a new business or assist existing small businesses in improving their profitability.
The volunteers here, are successful real-world business professionals with experience in areas such as accounting, finance, human resources, consulting, import/export, law, operations, production, retail, wholesale, manufacturing, sales, marketing, management, business plan preparation, strategic planning, and many other business disciplines.
SCORE New York provides:
Volunteer mentors who share their expertise across many industries Free, confidential business mentoring in person, via email, or by video Free business tools, templates, and tips Inexpensive or free business workshops (locally) and webinars (online 24/7)
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.
> New York City Funds Finder
The New York City Funds Finder is a programme of the NYC Department of Small Business Services. The online platform enables small businesses – to access funding products and connect with financing advisors who can provide guidance on suitable financial products, help with document preparation, and connect with multiple providers.
The NYC Department of Small Businesses provides – direct support to business owners, promotes neighborhood development, and connects employers with qualified workers. The agency operates business centers, offers grants and services to support local organizations, oversees the City’s Business Improvement Districts (BIDs), and administers the Minority and Women-owned Business Enterprise (M/WBE) Program.
https://www.lisamasiello.com/new-york-women-entrepreneurs-start-a-new-business
Avtar Madan
Himanshu
Shree Lahiri
