Although American women now obtain more college degrees than men, the gender gap in wages and the ever-present glass ceiling in the corporate world still play a role in making it harder for many women to succeed when starting their own businesses when compared to their male counterparts.

When you add in the fact that most child-rearing duties are still being handled by women, even when they work longer hours than their spouses, it becomes quite clear that some women may always require special governmental assistance while starting their own businesses.

 Fortunately, the SBA (Small Business Administration) has created a number of special programs to benefit female entrepreneurs. The SBA's Office of Women's Business Ownership remains especially helpful since it can help women find the funding they’ll need to start their companies and to bid on federal government contracts when their businesses are properly qualified to do so.

Yet despite all of these useful resources, since so many women remain their family’s primary caregivers to children and the elderly, it's very important one for them to think extra carefully about the types of businesses best suited to their daily lives.

Special Questions Women Must Ask Themselves About Their Preferred Business Interests

  • Will the type of business you’d like to start provide you with the time flexibility you’ll need to handle the special family commitments that you’ve chosen to prioritize?

  • Are you familiar with most common business structures such as sole proprietorships, partnerships, and corporations? If not, consider meeting with your Peachtree City business attorney to learn if any of these structures might be more accommodating to your special needs than the others;

  • Can you obtain all of the necessary funding for your business on your own? If not, have you looked into all of the SBA’s programs to help women in your situation?

  • Have you been conducting any business market research concerning your desired business? Do you have a strong business plan for getting your business up and running?

  • Have you researched the different types of insurance policies, business permits and licenses you may need to run your business?

  • Are you open to meeting with a tax attorney before starting your business? This can often help someone in your position avoid making serious errors;

  • If you'll be acting as a caregiver to either children or aging parents while running your business, have you already found the best local day care programs that can help you meet many of your caregiving needs? If not, will you be able to handle any of your work at home in order to keep an eye on these family members?

  • Have you located a number of women’s business networking groups in your city or state? If not, asked the SBA to help you in this search and also consider contacting the National Organization of Women, the National Association of Professional Women, NAFE (National Association of Female Executives), and the Women's Career Networking and Professional Associations’ website for further leads.

Always remember that if you can’t find the exact type of business support system you need, consider starting a women's networking group in your own community.

To obtain help with handling all of your Georgia business planning needs, please contact Shane Smith Law today.  You can schedule your free initial consultation with a knowledgeable Peachtree City estate planning attorney by calling: (770) 487-8999.

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