A League Of Their Own Are you a woman looking to start a business of your own? Check out these funding sources.
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The number of women-owned businesses in the United States topped9.1 million in 1999, accounting for 38 percent of all U.S. firms.Nevertheless, millions of women have reportedly unique financialneeds, interests and pressures. "When a woman finds herself intransition-inheriting or taking control of substantial assets;advancing swiftly in a career with stock options and partnershipinterests; or leaving, starting, turning around or selling acompany-she often does not have anyone she can trust or consult forcoordinated, independent, knowledgeable advice," observesJudith K. Fehlig, president of Fehlig Advisors in New YorkCity.
To answer that perceived need, a number of women-orientedfinancial organizations have cropped up recently, many of themonline, making it easier for busy women entrepreneurs to get thehelp they need. We've found a couple that are worth a look:
- Fehlig, along with five other professional women, formed TheFinancial Network for Women, or FNW (www.fnw.net). The network offerscoordinated counsel on securing and managing wealth, transitions,careers and related business issues. If you're thinking oflaunching a business, for example FNW experts can guide you throughthe process, connecting you with experts in the fields ofaccounting, insurance, business management, investing, law andpsychology. Designed more as a starting point for finding contactsand information about the FNW, this Web site isn'tcontent-oriented, so be prepared to get on the phone.
- There's also the Women's Financial Network Inc. or WFN(www.wfn.com) an interactive sitethat is ideal if you prefer getting your information online. WFNpresents financial information from a woman's perspective,allows members to buy financial products and services, and offersprescreened financial advisors committed to women. Th Web sitefeatures interactive discussions, a financial workbook, quizzes andonline columns, plus access to financial products and services,including loans, insurance, online bill payment, credit reports andan online brokerage. Another cool feature is the "DearEsther" section, where FNW members can ask certified financialplanner Esther M. Berger their financial questions.
Paul DeCeglie (MrWritePDC@aol.com) is a formerstaff reporter for Journal of Commerce and AmericanBanker.
