IT’S CLIT! – ATLANTA TO GIVE FREE RENT TO WOMEN WITH SMALL BUSINESSES.

Sorry boys,

GIRL BOSSES ONLY.

Everyone wants to be their own boss, make their own hours, & live their own dream. Starting up a small business & embarking on an entrepreneurial journey seems like the way to do it. However, it may take some serious time before business picks up & you’re smooth sailing because let’s face it, starting up your own business is hard.

543,000 new businesses are started each month in the US alone. I was actually pleasantly surprised to discover that 70% of these businesses would survive at least two years. But only about 33% of the businesses will make it to 10 years. Small businesses are very important given that they create new ideas, opportunities, & jobs for our country. In the past 20 years alone they have made up 65% of new jobs; they are essential to our society. Yet there is still such a high risk of failure for small businesses due to lack of proper funding & education it takes to get off the ground.

Unfortunately, developing a small business can be even harder if you’re a woman. I stand firm in my belief that it is a man’s world & women are just living in it. It may be 2016 but equal opportunity is still yet to be achieved by our society; especially in the gender aspect. A recent study put together by Wharton School of Business shows that men are 60% more likely to pitch successfully to investors than women, even when the content of the pitches were the same. The same study also shows that attractive men are more likely to receive funding from investors over plain-looking men & even attractive women. So contrary to popular belief, being an attractive woman does NOT help you get farther in business.

“Women-led companies have an overlooked proven track record in creating top financial success & top job growth.”

Another 10 year study mentioned by Valor Ventures shows that teams with female-only founders outperform male-only teams financially by 63%. Women-led companies are also credited with helping to create stronger communities being that women are already twice as likely as men to put back into their communities when they have money. Yet women are still being denied funding opportunities for their small businesses. Why?

Well I have some good news for all my girl bosses living in Atlanta & it’s called the Women’s Entrepreneurship Initiative (WEI). This program intends to help 15 different women expand their small businesses within the community of Atlanta by giving them the opportunity to work in offices of their own with likeminded counterparts. So not only will these women receive funding but they will also receive mentorship which is a major key. Mentorship is truly a luxury. There’s nothing like talking to someone who has had firsthand experience & can help guide you to the right business moves.

The process for selecting these 15 different businesses is very competitive. First off, my favorite rule, the businesses have to be owned by a woman. These women must be locally based in Atlanta & have a proper license to do business within the city. These businesses must also show business maturity of at least two years & include a total profit of at least $30,000 with around 1-5 employees. After the application process, women are selected & asked to participate in a pitch competition to a panel of judges. So if you view this as a “handout” — you’re wrong. This is assistance offered to women who have already put in the work but just need help taking it to the next level.

I think this is a great program & I want to give a huge shoutout to Atlanta’s mayor, Kasim Reed, for making this possible. Reed has a wife & daughter of his own which makes me even happier. It’s comforting to know that not only is he creating a better future for women but, for his own daughter as well. I hope that this will open the eyes of other leaders & inspire other cities to create similar programs. Atlanta plans to spend $1 million dollars on this agenda over the next two years so I’m excited to watch it all play out & see how far these girl bosses will go.

CITY OF ATLANTA: Homepage | TwitterWEI

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