Calling all women entrepreneurs and business owners: As we close the books on 2022, you're likely planning for the year ahead. Whether your business is just getting off the ground or well-established, the end of the year is a great time to take inventory of your business, review your goals and aspirations, and ensure you're not missing any growth opportunities .
That's a lot to unpack at once, so as always, let’s divide and conquer, beginning with three key questions as you look ahead to 2023.When’s the last time you researched the latest and greatest funding sources for your business? You might be surprised to find sources you’ve never tapped before. “We’re talking to women entrepreneurs every day, and we’re constantly hearing that they need funding, but they don’t necessarily know where to look,” says Sharon Miller, President of Small Business and Head of Specialty Banking & Lending at Bank of America. “And the good news is, there are more options than ever.”You can learn more about loan options and application requirementsor work with a small business banker who can help you determine the right solution for your business.
as a great place to start. It’s designed specifically to help women business owners find the type of funding that works best for their unique situation – including equity, debt, and grant capital.Keeping close tabs on how much money you have going out the door versus how much is coming in isn’t always easy, but it’s critical.
“One of the keys to cash flow management is looking ahead,” Miller says. “It’s easy to get tunnel vision on what’s happening in the moment, but losing long-term perspective can lead to trouble. If you can, it’s best to project several months out, to ensure you have enough time to map out your cash flow needs, identify risk, and secure funding if necessary.”, 38% of women business owners said managing cash flow is a topic they wish they knew more about.can help you stay on track.