It’s October 1, which means it’s the start of National Women’s Small Business Month. Huzzah! And while we’ve reported that resources can be hard to come by (microloan anyone? maybe a crowdfunding campaign?) there are signs that things might be turning around just a bit, for minority women business owners specifically and for black entrepreneurs, in general.
Wayne Sutton, founder and CEO of PitchTo, a company that creates tools for investors and entrepreneurs, argues on TechCrunch that now’s the time for minorities to not just be entrepreneurs, but also investors. Citing research from The Center for Venture Research, Sutton shows that there is a small but robust community of women and minority entrepreneurs who are seeking and getting angel investment.
Add to that an increased interest in startups among African-American entertainers, athletes and other assorted celebrities. “The fact that celebrities and athletes are getting more active in the tech startup space could also continue the increase in minority entrepreneurship in various cultures, especially for African-Americans who often look to the sports and entertainment industries for careers,” Sutton writes. “Now there are conferences such as Venture Draft, which educates and connects athletes to venture capitalists in the hopes of providing the necessary information that could spark investment opportunities to entrepreneurs in markets outside of Silicon Valley.”
Still, Sutton makes the appeal for more angel investors in minority businesses. In some ways, there’s simply the need for more investors to see the value in minority- and women-owned businesses; to be confident in the fact that these are capable entrepreneurs and you will make a return on your investment. In other ways, minorities and women are still growing in areas of entrepreneurship. Every day, women and minorities are learning more about the business world and making strides to capitalize on the profits and satisfaction it has to offer. This new breed of high-level businessperson will attract investors.
By way of helping, and in honor of the aforementioned National Women’s Small Business Month, the Small Business Administration (SBA) is hosting four webchats this month, where tips and advice will be available. We’ll also suggest that you keep an eye on the National Women’s Business Council, which is hosting a big event this week and, throughout the year, has the ear of government members and the SBA. If there’s something happening for women business owners that you can take advantage of, they’ll probably know about it.