Here’s an early resolution for the New Year: take an active role in changing the dismal picture out there for women business owners seeking investors. There are lots of statistics – alarming, shocking, and disheartening – that prove that women entrepreneurs get less funding for their businesses than do men. According to this eye-opening article in Go Girl Finance, women business owners get way less investment capital, like eight times less. That’s right. We women hold and control most of the money in this country, actually, but not the venture capital money, it seems. And we certainly don’t get any of that venture capital money when we seek it for our businesses.
There’s lots of advice about how to prepare a good presentation for potential investors in order to woo a venture capitalist, but clearly it’s not working very well for us. And, interestingly, only about 9% of proposals put to angel investor organizations are submitted by women, even today when women entrepreneurs outnumber men. I would argue that that’s because we know that the odds are stacked against us so, why try?
How about we join forces, then, and put our own investment money into a venture capital fund that was created specifically to support women-owned and gender-balanced businesses? That’s exactly what Plum Alley is. Created by the savvy Deborah Jackson for businesswomen and female entrepreneurs, Plum Alley brings together individual investors and business owners through their investor syndicates. Finally, an opportunity for women entrepreneurs that encourages confidence and the expectation of fair treatment and, ultimately, success. Put your money where your mouth is, ladies! Consider joining Plum Alley and knowing that your dollars are going to support your sisters in business.