Page 60 - South Mississippi Living - September, 2022

WHY
WOMEN-OWNED
story by Lynn Lofton
More and more women are becoming
business owners and there are some gender benefits. A new paper in the Journal of Business Venturing Insights finds that women hoping to raise money through crowdfunding face fewer gender barriers than their counterparts going the venture-capital route.
The research indicates that women who highlighted their gender through the words they used and hashtags deployed tended to raise more than those who obscured it.
There are also many avenues open for grants and loans as outlined in another story in this month’s South Mississippi Living.
“Woman-owned businesses are
more likely to reinvest in their local communities which drives local prosperity,” says Jessica Simon, owner of Mississippi Candle Co.
Franchesca Moultrie, who owns several local businesses, has another positive viewpoint. “Women are the backbone of everything good in life. We need to trust and support each other,” she says.
Bay Life Gifts at Century Hall in Bay St. Louis is the successful business of Janice Guido, who opened it seven years ago. She was fortunate to open her business with cash she had saved during a 28-year-career as a hotel executive.
“So I paid for setup and inventory on
my own after doing a detailed budget spreadsheet with projected annual incomes. It was a steady financial path for the first four years which included a location move,” she says. “Again, all with my own money that was generated by the business.”
However, the COVID pandemic brought some challenges and Guido secured a Small Business Association loan which she is repaying. “I have
not taken advantage of many female business opportunities and support now available through the SBA,” she says, “but it’s there for young women business owners, which is a good thing if they teach them how to do a budget plan.”
Guido advises women wanting to open a small business, “Do your homework- is there a need for your product and
can people afford it during a tough economy? Do a financial business plan by month with income and expenses and projected year end income. Talk to other small business in the area. Read a book on opening your own business, or take a course, or do a SBA tutorial.
“And if you can afford it, join your local Chamber of Commerce or Main Street Association to get support.”
As Jacqueline Ready with Berkshire Hathaway HomeServices Panoramic Properties puts it, “When we support each other, we’re paving the way for more little girls to become bosses and role models.”
60 | September 2022
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