Social Report: What challenges do women face to start a business in Iowa?

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Iowa has a long way to go to create a climate in which women are provided the full gamut of resources they need to successfully start their own business, according to a sample of Lift IOWA readers.

 

A few weeks ago, we asked readers to share their thoughts on the challenges facing potential women business owners in Iowa. We also asked them to share their thoughts on where the biggest challenges lie, and how well they feel Iowa is doing providing resources for women who want to start businesses.

 

Survey results ran in the March 20 edition of the Des Moines Business Record, an adjunct to a cover story highlighting specialized forms of education tailored to potential women business owners, but we wanted to share the results with our Lift IOWA readers as well.

 

More than 80 people responded to the survey, many of whom agree it’s tough for women to start businesses in the state. Respondents also felt there could be more resources that specifically target women who want to own businesses.

 

Here is a sampling of the results, as well as feedback from respondents:

 

1. On a scale of 1 to 10, with 10 being “very challenging,” how challenging is it for Iowa women to start a small business?

  • Average Answer: 7

2. Which is the biggest challenge facing potential women business owners? 

  • 46 percent: Finding and accessing financing/capital
  • 15 percent: Knowing how to assess the market
  • 12 percent: Finding time
  • 5 percent: Creating a business plan
  • 5 percent: Knowing how to market their business
  • 17 percent: Other

Sampling of “other” responses: Risk tolerance, trying to “have it all,” lack of confidence, the need for health care, lack of access to mentors.

 

3. Do you believe there are adequate educational and training resources in Iowa for women who want to start small businesses?

  • NO: 56 percent
  • YES: 44 percent

There are enough resources:

“(There are) adequate resources, if you choose to take advantage of what is offered. I have seen more resources for women in business in the past two years than I have in my lifetime, which is encouraging. Certainly there could always be more, but I also believe that resources are available if you truly seek them out.”

– Susan Hatten, senior executive of strategic partnerships, Holmes Murphy & Associates Inc.

 

There are not enough resources:

“I have felt challenged recently in finding resources to help me take my small business to the next level. Maybe I am not looking in the right places; however, the ‘traditional’ resources for help in starting a business (Small Business Administration, SCORE) have not been helpful.”

– Kris Winter, president, M2K Marketing Group

 

4. On a scale of 1 to 10, with 10 being “very well,” how well is Iowa doing to move itself from the bottom of the 2014 American Express OPEN State of Women-Owned Businesses report?

  • Average Answer: 4

Those who feel Iowa could do better:

“We need an integrated public-private approach to creating and building scalable businesses. We need a plan and funding to support the critical resources women need to get their businesses started — training, mentors, marketing and business planning/execution assistance. We need better access to capital and encouragement to think big. Microenterprises are not going to move the needle.”

– Diane Ramsey, CEO, Iowa Women Lead Change, ranked Iowa a 1

 

Those who feel Iowa is doing well:

“I think this topic is finally gaining some momentum. Their are great things like the Iowa Women’s Leadership Project that are prompting good discussion and providing action steps we need to take to move the bar.”

– Jayme Fry, first vice president, West Bancorporation Inc., ranked Iowa a 7


 Related: Educating Women Business Owners
Classes and startup boot camps help women overcome gender-specific challenges to owning a business. Read more at BusinessRecord.com.