Women-led businesses are growing, and with them comes quite a few tax advantages and resources to assist these businesses grow and succeed. From tax credits to government-sponsored grants and loans, there are numerous opportunities for female entrepreneurs seeking to start or expand their businesses.
Tax credits for women-owned firms
One among the major tax advantages for firms run by women is the power to deduct expenses related to establishing and running a business. These expenses may include office rent, equipment, supplies, marketing and promoting, and travel expenses.
As well as, many states offer tax incentives and credits to women-owned firms that employ employees offshore or onshore or put money into research and development.
Business development opportunities
Women-led enterprises even have access to varied business development opportunities. Economic development agencies, small business development centers and women’s business centers provide training, mentoring and networking opportunities.
These programs can assist women entrepreneurs access capital, develop business plans, and learn how one can compete within the marketplace.
Government-sponsored grants and loans
Government-sponsored grants and loans are one other resource available to women-owned businesses. The Small Business Administration (SBA) provides loan guarantees, counseling, and training programs designed specifically for female entrepreneurs.
As well as, many states and local governments offer grant programs to encourage small business growth.
Small Business Loan Guarantee Program (California)
In California, the Small Business Loan Guarantee Program provides loan guarantees for small businesses unable to supply traditional financing. This system provides as much as an 80% guarantee on loans as much as $2.5 million, making it easier for women to access capital.
Oregon Tax Credit for Dependent Care (Oregon)
In Oregon, women-owned businesses may qualify for a dependent care tax credit. The credit is out there to businesses that provide childcare services or reimburse employees for the fee of caring for dependents.
Research and Development Tax Credit (Recent York)
Recent York offers an R&D tax credit to encourage small businesses to take a position in R&D. The credit is out there to firms with fewer than 100 employees and can provide as much as 50% credit for eligible research expenses.
Life Sciences Tax Incentive Program (Massachusetts)
The Massachusetts Life Sciences Center provides tax incentives and grants to life science firms. This system is open to businesses of all sizes and can provide as much as 10% investment tax credit on eligible expenses.
Jump Start Philly (Philadelphia)
Jump Start Philly is a program that gives grants and other resources to small businesses in Philadelphia. This system is open to women-owned businesses and can provide funding of as much as $25,000.
Tax credit for latest markets (nationwide)
The Recent Markets Tax Credit Program provides tax advantages to investors who put money into designated low-income areas. This system is designed to encourage investment in these areas and can provide significant advantages to women-owned businesses positioned in these areas.
Private grants to women-owned businesses
Along with government-sponsored grants and loans, there are numerous private grants for women-owned businesses. These grants are often provided by private organizations and are designed to support specific industries or regions.
Eileen Fisher Women Owned Business Grant Program
The Eileen Fisher Women-Owned Business Grant Program provides grants to women-owned businesses which might be committed to creating positive environmental and social change. This system provides for co-financing of as much as PLN 10,000.
Huggies mom-inspired grants
The Huggies Brand Mom Inspired Grants program provides grants to women entrepreneurs who create progressive services or products that improve the lives of youngsters and families. This system provides for co-financing of as much as PLN 15,000.
InnovateHER: An progressive challenge for women in business
The InnovateHER Challenge is an annual competition sponsored by the Small Business Administration (SBA) that awards money prizes to firms offering progressive services or products that positively impact women and families.
The challenge is open to each women and men, however the services or products have to be designed specifically with women’s needs in mind.
Donations WomensNet Amber
WomensNet offers Amber Grants to women-owned businesses to assist them start or grow their business. Grants are awarded monthly and range from $1,000 to $10,000. Grants are for expenses comparable to marketing, equipment or inventory.
Women Veteran Entrepreneur Corp (WVEC) Small Business Competition.
WVEC is a non-profit organization that gives support and resources to women veterans starting or growing their very own businesses. The organization sponsors an annual small business competition that awards money prizes to veterans who’ve progressive business ideas.
Zions Bank Smart Women Smart Money program
The Smart Women Smart Money Program is a financial education program sponsored by Zions Bank that’s designed specifically for women. This system offers resources and workshops on topics comparable to budgeting, credit, and investing.
Wal-Mart Women’s Economic Empowerment Initiative
The Wal-Mart Women’s Economic Empowerment Initiative is a program designed to assist women entrepreneurs access the resources and support they need to start out and grow their businesses. This system offers resources comparable to business training, mentoring and access to capital.
Subsidy for small businesses Idea Café
The Idea Café Small Business Grant is a grant program that awards money prizes to small businesses with progressive business ideas. Grants range from $1,000 to $100,000 and are for expenses comparable to equipment, marketing, or supplies.
FedEx Think Larger Small Business Grant Program
The FedEx Think Larger Small Business Grant Program awards money prizes to small businesses with progressive business ideas. Grants range from $5,000 to $50,000 for expenses comparable to marketing, equipment, or supplies.
Chase Google: Mission Essential Street Project
The Chase Google Mission Essential Street Project is a grant program that awards money prizes to small businesses which have progressive business ideas. Grants range from $100,000 to $250,000 for expenses comparable to marketing, equipment, or supplies.
Small business innovation research
The Small Business Innovation Research (SBIR) program is a federal program that awards grants to small businesses that conduct research and development. This system is designed to assist small businesses develop latest technologies and products which have industrial potential.
Technology transfer program for small businesses
The Small Business Technology Transfer (STTR) program is a federal program that grants grants to small businesses that partner with research institutions to develop latest technologies and products. This system is designed to assist small businesses access the resources and expertise they should develop progressive products.
Additional resources for women-led businesses
Along with these grant and funding opportunities, there are also many resources available to women-owned businesses. These resources include women’s business centers, economic development agencies, and small business development centers. These organizations provide resources and support to assist women entrepreneurs start and grow their businesses.
in regards to the writer
Bharati Kakadiya is the founder CapActix which offers offshore accounting solutions to CPA firms, tax firms and SMEs in the US.