7Dec
Kansas City solidified its enterprising reputation earlier this year. The study released by MagnifyMoney ranked the city #10 out of the best U.S. cities for working women in 2018. While it’s not the highest for the state (St. Louis ranked number 9), the study proved that the city’s efforts to bolster women in business are working.
Compared to other metro areas, more women in Kansas City are employed, working as managers, and as state legislators. Another huge area women in Kansas City are leading the nation is in business ownership – 33.2% of businesses in Kansas City are owned by women.
This growing number mirrors a rise in city programs and organizations that support women-owned business, and incentives for those who want to form them. Here are some of the helpful resources available for women who want to form a business in Kansas City.
Whether for business growth or professional support, all business owners should understand the importance of growing their network.
The umbrella alliance OneKCforWomen is a partnership between four Kansas City organizations dedicated to helping women thrive in business: Women’s Employment Network, Women’s Business Center, Women’s Capital Connection, and WE-Lend. The alliance provides resources, networking opportunities, professional guidance, and unique business opportunities that help women start and grow their businesses.
The National Association of Women Business Owners, Kansas City Chapter (NAWBO KC) is a community of women entrepreneurs that hosts networking events, provides educational programs, and offers professional business development opportunities. Women business owners in Kansas City can join and receive exclusive member benefits focused around professional growth and advocacy.
One of the most vital, and sometimes daunting, aspects to forming a business is acquiring capital.
WE-Lend of Kansas City offers loans up to 25,000 for existing and start-up businesses, particularly those that are women-owned. In addition to the funding, the center also supports each loan recipient with technical business development assistance and financial coaching.
The Kansas City EDC Loan Corporation (EDCLC) recently announced an initiative that would refocus the agency to become a resource for obtaining MBE/WBE capital loan products. Recognizing a need, particularly within the East Side Corridor of Kansas City, the EDCLC is concentrating on helping minority and women-owned businesses manage and receive funding.
Building a working relationship with the city is a great way for newly formed companies to expand. The City of Kansas City, Missouri’s Human Relations Department (HRD) has enterprise programs to ensure that there is participation from women-owned businesses on projects funded by city tax payers.
The Minority, Women and Disadvantaged Business Enterprise (MWDBE) Program is available for businesses that are at least 51% owned and controlled by a woman. The city assigns goals for the participation of these businesses in competition for city projects and purchases, and provides helpful resources on how to pursue contracts with city departments.
The Small Local Business Enterprise (SLBE) Water Service Department Engineering Professional Service Program helps small, women-owned business grow through Water Service Department Engineering Professional Service contracts awarded for architectural, engineering, and related design services for the City’s Water Services Department.
For more information on forming a business in Kansas City and where women business owners can find helpful resources and support, you can visit KCSourceLink,Kansas CitySCORE, and the Kansas City Small Business Association.
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