Access to funding continues to be a leading issue faced by women in business despite the huge economic contribution their brands make to the economy.
"Women working together is no new concept. More so a lost concept. As millennial women we take pride in our independence, which is amazing. Unfortunately, somewhere along the way we forgot that we'd go further working together as we grow individually."
-Tiffany Monique Founder of The Women Funding Women Initiative
THE FACTS
The annual State of Women-Owned Businesses Report – which pools data from the Census Burea
u and the Bureau of Economic Analysis in determining the financial impact of such ventures – estimates America's total number of businesses headed by women ballooned 21% between 2014 and 2019 to nearly 13 million establishments. Overall business growth clocked in at just 9% during the same period. Revenues generated by women-led companies, meanwhile, climbed 21% to nearly $2 trillion, while the jobs they created rose by 8% to 9.4 million. Both growth totals eclipse the national average for companies headed by executives of either gender.
Chesapeake, VA, March 10, 2020 -- Just in time for Women’s History month, one Virginian woman hopes to make history with the launch of a one of a kind initiative. While on a search to find grants that spoke to her ambitions, new mother, Tiffany Monique was inspired by the lack of representation and overall support she found within the preexisting structure of traditional charitable institutions. From this discontentment, The Women Funding Women Initiative was born.
The Women Funding Women Initiative encourages entrepreneurial women to join forces and resources to knock out the issues of scarce funding and the absence of women investors all in one swing. But their mission doesn't stop there. Women Funding Women will also invest in the holistic health of their tribe by offering grants that cover traditional business and education expenses as well as wellness and advancement items such as therapy, coaching, licensing, national conferences, vendor and participation fees, private physical instruction and more.
“The initiative’s main purpose is to rewire the brain of America’s women entrepreneurs in regards to obtaining resources, being a resource, and making their health a priority....
"I quickly realized that while my vision was charitable, it didn’t fit neatly under the blueprint of a traditional foundation or non-profit organization. . I’ve decided to take a long and continuous look at the entrepreneurial woman and make sure that the resources she needs to flourish are available to her. Yes, that's software, equipment, and marketing budgets, but that's also her peace of mind, genuine support, and holistic health. I’d like to see more women getting the coaching, therapy, and training they need to become the women they want to be inside and outside of the businesses they want to build. Unlike traditional grants, we take into consideration that our grant recipients have professional, educational, and wellness needs that all affect their success equally. Taking care of the woman behind the business is vital for the business inside the woman to be truly successful. That's why our motto is "The business is only as strong as the woman behind it.”
The initiative’s one of a kind grant process enables members to maintain their voice in a scenario made possible by their contributions. Short videos, quirky personal campaigns, elegant events, and exciting live anonymous voting replace the long essays and the traditional grant application/award process.
The initiative solves the problem of the lack of access to funding for women in business while reminding them of the importance of taking care of themselves and each other on their way to success. ”Yes, it’s about getting what we need, says Tiffany, but even more so about retraining our brains to see our connection to each other as a resource. There’s nothing that can’t be done when women decide to do it together.”
About Women Funding Women
The Women Funding Women initiative, officially launched on Women’s Day 2019. The initiative became a 501(c)3 Public Charity in December of 2020. It is their mission to provide genuine value to the lives of America’s entrepreneurial women by way of grants and gifts in kind, events, awards, and other relevant resources.