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As a women-owned business for over 38 years, Emerald Financial Partners knows what it takes to start-up and run a successful business! And, we know that women business owners face unique challenges and even have unique opportunities.
According to the ACA International white paper “Small Businesses in the Collection Industry: An Overview of Collection Size and Employment", there were more than one million women-owned firms as of 2015 and they accounted for over 20 percent of all U.S. firms, according to the survey.
Among the findings:
- Women-owned firms are more likely to remain small in terms of their profits and staff; for example, 22 percent brought in at least $1 million in annual revenues in 2016, compared to 36 percent of men-owned companies.
- Women-owned firms are more likely to have financial challenges and growth restrictions than their male counterparts, especially when just starting out. Fifty-three percent of women-owned firms had medium/high credit risk early on compared to 40 percent men-owned firms. However, the differences balance out over time. Among firms in business for six or more years, 33 percent owned by women had medium/high credit risk compared to 29 percent owned by men.
- Firms owned by women have fewer types of debt and equity than men-owned firms and rely primarily on credit cards and financing products from the U.S. Small Business Administration.
At Emerald Financial Partners, we also work with a large number of government contractors, so we can help you with DCAA compliance and guide you toward WOSB certification. Our business start-up packages help get your business off and running in the right direction!
We'll help validate the business concept and review pre-requisites for launch.
Business Planning & Structure
We'll help you create a documented success plan and determine which business entity will give you the most benefit from a liability and tax perspective.
We'll help you register with the State, obtain your Federal Tax ID and help set up an accounting system that will prepare you for fundraising or bank loans.
Ready to start federal contracting as a Women-Owned Small Business (WOSB)?
Contact us today and we'll help you get started!