Funding is the greatest challenge facing all entrepreneurs. The following information is designed to help all start-ups and small business owners get the capital needed to launch and grow their ideas.
Many additional resources are available to minorities, women and veterans, who continue to be disproportionately impacted by lack of funding. Consider just 2.3% of venture capital goes to women-led startups, according to Crunchbase. Black founders receive only 1% of VC funding and Latinas receive even less at 0.4%, according to the Transparent Collective. And 75% of veterans say access to funding from any source is their biggest challenge to starting a business, according to a recent study by Syracuse University.
CCBC’s college’s Center for Business Innovation is working to help close the gap with its Minority, Women and Veteran (MWV) Equal Funding Initiative. CCBC’s Center for Business Innovation supports about 3,000 students and alumni with either funding, mentorship, workshops and courses to help them launch and grow their small businesses. This initiative will also support the 41 small business owners CCBC’s Center for Business Innovation has helped launch, 93% of whom are from underserved communities. For more about other resources available to students and alumni interested in starting a business, go to www.CCBCmd.edu/innovation.