Wednesday September 5, 2012 All Day
Every 7 days, until October 31, 2012
The National Association For Moms In Business (NAFMIB), the leading association representing the fifteen million entrepreneur, executive and CEO moms in the United States hosts the 2012 Moms In Business Grant. The Moms In Business Grant uses the internet phenomenon of "crowdfunding" to give mom business owners a better chance at launching a new business or current business project. It's the first and only business grant competition to utilize crowdfunding and is expanding and innovating the way mom business owners can get capital for their businesses.
According to the SBA, Women own over 9 million businesses yet they receive the least amount of financing from traditional sources. Women traditionally own smaller types of businesses that don't meet financial assistance minimums of banks and venture capital firms.
Crowdfunding is a platform to raise money by attracting many small donations from a large group (friends, family, professional contacts) to meet a funding goal. "Backers" give contributions in exchange for rewards or perks offered by the grant applicant - rewards can be any product, service or experience to which the grant applicant has access.
"Moms In Business is giving a crowdfunding business grant rather than using the traditional grant-giving model for three reasons," says founder and president of the National Association For Moms In Business, Gina Robison-Billups, "We wanted to provide an innovative way to motivate moms to kick start or grow their businesses. In addition, it's an "everybody wins" scenario where all those that participate have the opportunity to raise money, create exposure, and build a following for their business, and lastly, due to the promotional requirements to be successful via crowdfunding, it's a good way to identify those entrepreneurs who will go the extra mile to publicize and build their ventures therefore making them ideal candidates for our grand prize grant of $50,000 in business growth tools."
American Alliance of MicroBusiness Women
PO BOX 50008