What is a Women’s Business Center?

A women’s business center is a local office part of a national network of business development facilities overseen by the U.S. Small Business Administration. Services may vary at each location, but they generally offer resources for women-owned small businesses like training, coaching, funding access, and helping to apply for federal government contracts. (smallbiztrends.com)

Main services of a women’s business center

Women entrepreneurs face many challenges due to the inequity and obstacles they still face in an entrepreneurial world led by man-owned businesses.

Therefore, these centers aim to enhance women’s self-sufficiency and quality of life through entrepreneurial training, technical assistance, and access to capital for new and growing businesses.

Counseling

Women also visit these centers to ask for guidance and counseling about their business operations or to develop their business ideas if they still need to open their businesses.

The centers can help at any stage of the business development process and point out the direction towards available resources to thrive the business.

Training

Centers also offer courses for technical or theoretical knowledge in several business operation fields, from finance to employee management. A relevant speaker or specialist often leads these courses in each area.

Professionals who attend the inquiries can also refer to books, coaches, or any other source of physical or digital helpful information for business development.

Networking

Centers also organize small to significant events and Summits that include more extensive areas of women’s business owners from different states to foster learning, inspiration, and thought-provoking conversations on entrepreneurship ecosystems, entrepreneurial education, and policy creation to empower women and help cultivate partnerships and collaboration.

Through networking, entrepreneurs can exchange ideas, contacts, and good practices. They can also generate alliances to help each other’s businesses grow.

Access to Capital

Several researches and history have shown that women are less likely than men to access the financing resources to start a business. This gender gap can result from women’s lower levels of experience, operating in highly challenging and slow-growth sectors, gender-biased credit scoring, and gender stereotyping in investment assessment. Women are often underserved by less access to essential financial services (e.g., checking and savings accounts).

Consequently, women entrepreneurs are more likely to rely on self-financing. Furthermore, self-employed women are more likely to be discouraged borrowers because they believe that the loans are inappropriate or that their application will not be successful.

At Metro Women’s Business Center at Bayamon in Puerto Rico, we offer all these services and are open to women’s business proposals at any stage of business development. 

Contact us for more information: mwbcdirector@friendsofpuertorico.org