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Tuesday, August 18, 2009

Finding venture capital as an female entrepreneur

South Africa is seeing an increasing amount of woman entrepreneurs. The huge range of industries now including woman entrepreneurs is encouraging and these stats have now even been made official by organizations such as the global entrepreneurship monitor. But how do female entrepreneurs find business funding. Where and how do they source there venture capital or angel funding from. In an increasingly competitive business environment it’s crucial that woman know how to go about finding funding for their businesses.

Below are some important tips if you are a woman finding your way in the world of venture capital.

Network the Financial Industry

Women must be able to network not only among other women business owners, but with all who are involved in the financial market. Expand networking possibilities with other entrepreneurs, men or women, who have successfully won venture capital funding. Talk with others who are connected with the VC industry. A local entrepreneur club may be a great way to share ideas and get venture capital contacts for financing your business.

Study the Main VC Industries

VCs invest heavily in technology businesses. Many women entrepreneurs have a great retail business idea, but find it difficult to obtain VC funding when there is no model for large scale expansion and sales. If you want to get a business kick started with venture capital funds, be sure to study the industry of your business idea and discover if it is likely to be viewed favorably among VC firms.

Strengthen Your Idea

As with any entrepreneur or company vying for VC funding, your business idea must be solidly defined, marketable, and in demand. Discover a niche for your business idea that will allow your company to experience potentially huge sales. This may take time, trial, and error to narrow and focus your business idea to where it is attractive to venture capital firms.

Assemble a Winning Team

In order to give your business an edge in getting accepted for VC funding, you must have a winning team in place before you approach VC firms. Take the time to assemble a list of potential managers, directors and executives of your company that have the right experience in their industry and preferably in other startup companies as well.
Above all its important that you remain true to yourself. Be choosy when choosing venture partners even when you may feel that you are reaching the end of your patience. Don’t loose hope and if you have done your business plan, completed your feasibility study and have confidence in your business as a prospect, chances are that the right venture partner for you is just around the corner.

Thank you for the contribution made by to this article on where to find venture capital as an female entrepreneur.