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Business Minority Woman Owned

Updated on December 27, 2012
When a business is both minority and woman owned, it does have certain advantages when it comes to getting government and corporate business.
When a business is both minority and woman owned, it does have certain advantages when it comes to getting government and corporate business.

Business Minority Woman Owned

Narrowing a niche is a good way to get noticed. Sometimes that niche is who you serve, but the niche can also be who does the serving. Being a business minority woman owned entity can help a company standout, especially in a male dominated field. Consider Rush Trucking, a Native American woman owned company participating in the trucking industry that has been awarded accolade after accolade as a woman and/or minority owned company.

Business Minority Woman Owned Startup

Aspiring to be a minority and woman owned company, you can find a lot of help to get started. There are many regional and local business development non-profits. They can assist in getting a business plan and pursuing financing. Many of them will even have lending opportunities specifically for minority women. This will usually be in the form of micro-lending (loans under $50,000), so businesses needing above that will have to pursue conventional financing routes. But the business assistance centers will help in pursuing financing and have relationships with business lenders. They could even tell you which lenders are also more business minority woman owned friendly.

Business Minority Woman Owned Networking

Another advantage of being a minority woman owned business is the ability to network with other companies. Being that a minority, woman-owned company are two parts, there are two arenas one can participate in networking- minority and women. In most urban areas there are women networking groups and minority networking groups, a business that is minority and woman owned can participate in both. If there are not any in a business's area, start one. Also, most minority specific business groups (African-American, Hispanic, Native American, etc.) do not limit participation to just that to that minority group. Nationally, there are groups a business can join for minorities in general, specific minorities, and women owned entities.

Business Minority Woman Owned Government Contracts

When pursuing specific government contracts, a minority, woman-owned proprietor can get a leg up. Just as being minority owned can provide a leg up with federal contracts, so can being woman owned. Then couple the two together, that is a strong advantage and reason enough to start learning the government procurement game. Using the General Services Administration (GSA) as an example, when government purchasers are searching on GSA Advantage (the GSA online purchasing system) for what they need, they can also see that a business is women and minority owned. Meaning that the department can add that purchase to their small business quota tally. Add SBA HUBZone certification to the minority-owned and woman-owned business, and sales can begin to mystically role in.

Locally and nationally, a business that is minority woman-owned could go far. The opportunities abound and hopefully a woman considering business would set her horizon far.

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    • Cagsil profile image

      Cagsil 8 years ago from USA or America

      Interesting Hub. Thank you for sharing.

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