Supporting Women: Programs and Opportunities in the Food Industry
The food industry is experiencing a wave of transformation as more and more women enter the field with a passion for creating healthier and better-quality products. With a growing focus on healthy eating and sustainable food practices, women entrepreneurs are leading in bringing innovative ideas to the market. In the United States, several programs and resources are available to support female entrepreneurs in the food industry, helping them bring their visions to life.
In this article, we'll explore the role of a women owned small business in the food industry, the available programs for female entrepreneurs in the United States, programs that provide access to federal contracting dollars, business certification programs and the potential impact of supporting women-run companies in the food industry. So, if you're interested in investing in the future of a women-led business in the food industry, keep reading to learn more!
The Role of Women in the Food Industry
According to a report by the National Association of Women Business Owners (NAWBO), women own 42% of all businesses in the United States, and the number of the women-led small business with one or more women-owned companies in the food industry is steadily increasing.
Research conducted by the National Women's Business Council (NWBC) in 2018 found that women-run companies in the food industry contribute significantly to the economy. The report found that women-owned companies in the food industry generated over $25 billion in revenue and employed over 300,000 people in the United States (NWBC, 2018).
The impact of women-led companies on the economy is significant. According to a study by American Express, women-run Companies in the United States grew by 58% from 2007 to 2018, compared to the overall national average of 12% (American Express, 2018). This growth has contributed significantly to job creation and economic stability.
What are the Benefits of Supporting Females in the Food Industry?
Supporting women-owned companies in the food industry can have numerous positive impacts. They are likelier to prioritize ethical and sustainable practices and often have customer experience and a unique perspective on what consumers want (Carter, Shaw, & Lam, 2001). In addition, they can help to promote gender equality, which is critical for creating a more just and inclusive society (Kabeer, 2005).
What Programs Available for Women in the Food Industry?
As more women enter the food industry, there is an increasing need for programs and resources to support their entrepreneurial endeavors. Fortunately, several programs in the United States cater specifically to women-owned companies in the food industry. It starts with a certification process.
Women's Business Enterprise National Council (WBENC) certification
One of the most well-known programs for women-led companies in the United States is the Women's Business Enterprise National Council (WBENC) certification program. The WBENC certification committee is the largest third-party certifier of women-run companies in the country, and its certification process is rigorous and highly respected (WBENC, n.d.).
The certification review process, eligibility and online application process also requires businesses to be at least 51% owned, controlled, and operated by women, and it includes a site visit and review of financial and legal documents (WBENC, n.d.). Once a business is certified, it gains access to a wide range of resources and opportunities, including networking events, training programs, and access to corporate buyers who are actively seeking to do business with women-controlled companies.
For women-run companies in the food industry, WBENC certification program can be precious. Many major food companies, such as Coca-Cola, Nestle, and Sysco, have committed to increasing their spending with women business enterprise owners. WBENC certification is often required for women business enterprise to do business with these companies (WBENC certification here, n.d.).
In addition to the government contracts and federal contracts alone, WBENC-certified businesses are eligible for various grants and loans from government agencies and other private sector organizations dedicated to supporting women entrepreneurs (WBENC, n.d.). These resources can be critical for helping women-led companies in the food industry to overcome the financial and logistical barriers that often come with starting and growing a business.
SBA Women's Business Centers
Another program available to support women-controlled companies in the food industry is the Small Business Administration (SBA) Women's Business Centers. The SBA has a network of over 100 Women's Business Centers nationwide that provide services and resources to women entrepreneurs, including those in the food industry.
The services SBA Women's Business Centers provide include training program, certification program, certification and counseling on various aspects of women owned business ownership, including business planning, marketing, financial management, and access to capital (SBA, n.d.). They also offer networking opportunities and connections to other resources that can be valuable for women-led companies in the food industry.
Impact of SBA Women's Business Centers
Research has shown that the SBA's contracting programs with Women's Business Centers significantly impact the success of female led businesses. According to a study by the National Women's Business Council, companies that receive counseling and training from SBA Women's Business Centers have higher revenues and are more likely to survive than businesses that do not (NWBC, 2016).
Investment Opportunities for Women-Owned small Businesses
In addition to counseling and training, SBA Women's Business Centers can also help women-controlled companies in the food industry to access capital. The SBA provides loan guarantees for small businesses, including women-led, through its various loan programs (SBA, n.d.). These loan programs can be precious for women-run business enterprises in the food industry, as they often require significant upfront funding for equipment, supplies, and other resources.
Overall, SBA Women's Business Centers are a valuable resource for women business owners in the food industry, and they can provide critical support services for woman business owner for success and growth.
USDA's Women and Minority Grant Program
The United States Department of Agriculture (USDA) also has programs to support women-led business and-owned Companies in the food industry. The Women and Minority Grant Program is one such program that provides funding to women-run small business and minority-owned small businesses in the food industry to help them improve their operations and become more competitive in the marketplace.
To qualify to be eligible for the USDA's Women and Minority Grant Program, businesses must be at least 51% owned and controlled by women or minorities. The program provides funding for various activities, including business planning, and management, marketing, and management, and expansion (USDA, n.d.).
Benefits of the Program
The Women and Minority Grant Program can significantly benefit women-run business enterprises in the food industry. Research has shown that companies that receive funding from the program have higher revenues and are more likely to survive than those that do not (USDA, n.d.).
Funding Opportunities
The program provides funding for various activities to help women business enterprise owners in the food industry grow and become more competitive. This includes funding for equipment, supplies, business certification, and other resources that can be critical for a women business enterprise's success and growth.
Overall, Companies in the food industry, provide funding and support small businesses to help them succeed and grow.
SCORE Women's Business Ownership Program
SCORE is a national nonprofit organization that provides education and mentorship to small business owners. The organization's Women's Business Ownership Program offers resources and support to women entrepreneurs in the food industry.
Services provided by SCORE
The SCORE Women's Business Ownership Program provides various services to women-run companies in the food industry. These services include:
Business training and education
One-on-one mentoring
Access to resources and tools to help businesses grow and succeed
Networking opportunities with other women entrepreneurs (SCORE, n.d.).
Benefits of the Program
Research has shown that women participating in mentorship programs are more likely to start and grow successful businesses (Roney, 2021). The SCORE Women's Business Ownership Program can provide valuable mentorship and resources to help women entrepreneurs in the food industry succeed and grow.
Funding Opportunities
The SCORE Women's Business Ownership Program can also provide access to funding opportunities for women-led companies in the food industry. SCORE partners with organizations, corporations and agencies that provide grants and other funding opportunities to help women entrepreneurs grow their businesses (SCORE, n.d.).
Overall, the SCORE Women's Business Ownership Program can be a valuable resource for women entrepreneurs and business owners in the food industry, providing mentorship, resources, and funding opportunities to help them succeed and grow their business enterprise.
Investment in Women-Owned Businesses in the Food Industry
Investing in women-owned companies in the food industry is a wise business decision and positively impacts the economy. According to a report by American Express, between 2014 and 2019, the number of women-run companies in the U.S. grew by 21%, and revenue increased by 21% (American Express, 2019). This growth is even more significant in the food industry as more women entrepreneurs focus on bringing healthier, higher-quality products.
Investors interested in supporting women's business enterprise in the food industry can do so through various channels. For example, they can invest directly in a company or support organizations that provide funding and resources to women-owned business enterprises, such as the ones discussed earlier in this article. By investing in women's owned business and enterprises, investors not only have the potential to see a return on their funding, but they also contribute to the growth of a sector that has a positive impact on the economy and the well-being of consumers.
Women-Owned Organizations and Health
The food industry significantly impacts public well-being, and women-owned Companies are essential in promoting healthy eating habits. As women become increasingly interested in tackling the unhealthy aspects of food, they create companies focusing on bringing better quality products to the market. This shift towards healthier food options is significant given the growing concern around chronic diseases related to poor diet and obesity.
There are many examples of women-owned Companies in the food industry that promote wellbeing through their products and practices. For instance, Sweetgreen, a salad chain founded by three Georgetown University graduates, uses fresh, locally sourced ingredients to create healthy and delicious salads. The company's mission is to "inspire healthier communities by connecting people to real food" (Sweetgreen, n.d.).
Another example is Hu Kitchen, a New York-based restaurant and grocery chain founded by a brother-sister team. The business uses high-quality, whole-food ingredients to create meals free of gluten, soy, and refined sugars. Their products are designed to be minimally processed and to avoid common allergens, making them ideal for people with food sensitivities or allergies.
Conclusion
In conclusion, women-owned organizations are significantly impacting the food industry. These businesses are not only promoting healthy food choices but also contributing to the growth of the economy. Therefore, it is crucial to support women business owners in the food industry.
The Women's Business Enterprises National Council (WBENC) certification program, SBA Women's Business Centers, USDA's Women and Minority Grant Program, and SCORE Women's Business Ownership Program are some programs available for female entrepreneurs in the United States to support them. Women business enterprise owners have reputable value in the industry.
It is time to take action and support women-owned companies in the food industry. Doing so can pave the way for a healthier future and a more robust economy. Together, we can make a difference.
References
American Express. (2018). State of Women-Owned Businesses Report. Retrieved from https://www.americanexpress.com/us/small-business/openforum/articles/the-state-of-women-owned-businesses-2018/
Carter, S., Shaw, E., & Lam, W. (2001). Gender, entrepreneurship, and bank lending: The criteria and processes used by bank loan officers in assessing applications. Entrepreneurship Theory and Practice, 25(3), 5-29.
Kabeer, N. (2005). Gender equality and women's empowerment: A critical analysis of the third millennium development goal. Gender & Development, 13(1), 13-24.
NWBC. (2018). Women-Owned Businesses in the Food Industry. Retrieved from https://www.nwbc.gov/sites/default/files/2021-02/Women-Owned%20Businesses%20in%20the%20Food%20Industry%20Report.pdf
NAWBO and Web.com. (2019). State of Women-Owned Businesses Report. Retrieved from https://www.nawbo.org/sites/default/files/WBOB-2019-Report.pdf
WBENC. (n.d.). Certification. Retrieved from https://www.wbenc.org/certification/
National Women's Business Council. (2016). Women's Business Centers: Driving Economic Impact. Retrieved from https://www.nwbc.gov/sites/default/files/WBC_Report_Final.pdf
Small Business Administration. (n.d.). Women's Business Centers. Retrieved from https://www.sba.gov/content/womens-business-centers-wbc
United States Department of Agriculture. (n.d.). Women and Minority Grant Program. Retrieved from https://www.rd.usda.gov/programs-services/women-minority-grant-program
Roney, K. (2021). Mentorship is a key factor for women in business success. Forbes. Retrieved from https://www.forbes.com/sites/kimberlyroney/2021/01/25/mentorship-is-a-key-factor-for-women-in-business-success/
SCORE. (n.d.). Women's Business Ownership Program. Retrieved from https://www.score.org/women-owned-businesses