2023 Programs and Resources for Minorities and Women in Business
No matter your age, sex, nationality, race, or socioeconomic background, franchising offers a level playing field for all entrepreneurs. There are many resources and programs available to help women and minorities succeed.
At one time, franchising was male-dominated, but that is certainly not true today. Female entrepreneurs have achieved success in many areas of small business franchising. Women-owned businesses account for $1.8 trillion in revenue, according to Zippia. In 2022 alone, it is estimated that women started 1,821 businesses per day. Women have successfully established themselves in franchising as founders, CEOs, franchise owners and franchise consultants, funding experts, and more. To foster female entrepreneurship and provide networking opportunities, the International Franchise Association (IFA) created the Women’s Franchise Committee and regularly highlights its initiatives.
Minorities are also proven leaders in franchising. According to a study by Oxford Economics and the IFA, Hispanic-owned franchise businesses generate 1.6 times more sales than their independent counterparts. Black entrepreneurship has also grown, and the IFA and Small Business Association (SBA) provide these leaders with the education and resources they need to be successful. To ensure the industry is more inclusive, the IFA champions groups like the Black Leadership Council, and many franchisors have diversity, equity and inclusion initiatives.
Below is a list of resources for women and minorities in franchise small businesses.
Resources for Female Entrepreneurs
Arab American Women’s Business Council
This organization provides development services to Arab American women entrepreneurs.
International Association of Women (IAW)
The IAW is a platforming network for female entrepreneurs to connect with other professionals through events, programming, and more.
National Association of Women Business Owners (NAWBO)
The NAWBO is a membership-based organization that works to improve the social, political and economic status of women in business. The organization has chapters throughout the U.S. that sponsor events and meetings.
National Women’s Business Council
The National Women’s Business Council advises and offers recommendations to government authorities on issues related to female entrepreneurship.
Office of Women’s Business Ownership
The SBA’s Office of Women’s Business Ownership fosters female entrepreneurship through advocacy, education, and more. Women from disadvantaged backgrounds are especially encouraged to use this resource.
SCORE has resources specifically to mentor female small business owners and assist them with achieving their goals.
Women Business Centers (WBCs)
The SBA’s WBCs offer counseling and training to help female entrepreneurs start and establish their businesses.
Women’s Business Enterprise National Council (WBENC)
The WBENC is a nonprofit organization that offers programs and resources to foster female entrepreneurship. The organization was created in 1997 to standardize women-owned business certification.
Resources for Minority Entrepreneurs
Asian Business Association
This membership-based association represents Asian-American business owners and offers education and training.
Backstage Capital is an investment group that backs companies that are headed by women, people of color, and LGBTQIA+ individuals.
Black Business Association
The Black Business Association is an advocacy group that provides procurement resources and more for Black entrepreneurs.
Black Enterprise is an online publication that highlights trends, newsworthy events, and more for Black entrepreneurs.
Black Founders fosters Black Entrepreneurship in the technology space.
The Collab Capital investment firm provides funding to Black business owners to help them create generational wealth.
This accelerator program is designed for minority entrepreneurs who are focused on social justice and tech issues.
EnrichHER Accelerator Program
This program empowers women-owned and Black-owned businesses by offering financial training and small business loans.
Founders First Capital Partners
Founders First Capital Partners is a national lender that offers advisory services and revenue-based funding, term loans to entrepreneurs outside of major markets. The organization celebrates businesses owned by women, people of color, LGBTQIA+ individuals, veterans, and other minority groups.
Hispanic Network is an online magazine for Latino entrepreneurs.
Minority Business Development Agency
As part of the U.S. Department of Commerce, this agency promotes the creation and growth of U.S. minority-owned businesses.
Minority Business Entrepreneur
Minority Business Entrepreneur is an online forum that provides resources and information for minority entrepreneurs as well as government agencies and corporations.
Minority Enterprise Development Corp.
The Minority Enterprise Development Corp. is a partnership of nonprofits, public and private agencies that assist minority business owners.
National Black Chamber of Commerce
The National Black Chamber of Commerce economically empowers African-American communities in the U.S. and beyond.
National Hispanic Business Group
The National Hispanic Business Group is a membership-based organization that gives Hispanic entrepreneurs access to networking and business opportunities.
Office of Indian Energy and Economic Development
This government agency assists Indian communities in becoming self-sufficient through the development of energy resources and more.
Office of Native American Affairs
As part of the SBA, the Office of Native American Affairs assists American Indian, Alaska Native, and Native Hawaiian-owned businesses by offering lending, procurement, and development programs.
SBA 8(a) Business Development Program
This SBA program is specifically designed to elevate entrepreneurs from socially and politically disadvantaged backgrounds.
The National Center for American Indian Enterprise Development
The National Center for American Indian Enterprise Development is the largest business organization for Native Americans in the U.S.
The National Minority Business Council, Inc.
The National Minority Business Council, Inc. is a nonprofit organization dedicated to providing minority business owners with business assistance, educational opportunities, seminars, and more.
U.S. Hispanic Chamber of Commerce
This organization fosters Hispanic business ownership through procurement programs, educational resources, events, and more.