By: Stephanie Jade Wong
It’s one thing to say, “The future is female,” and it’s another to take action to make what you want to see in this world come true.
It’s great to see, but also baffling when you break it down, because it’s 2019 and sexism still exists.
“Seventy-one percent of female-owned businesses reported profitability, compared to 80% of male-owned businesses.”
Here are a few of the many challenges female founders face:
- 35% lack capital and cash flow
- 35% say cash if their most common method of funding because of financial funding trouble
- 17% say their most common way of funding is from family and friends
Funding is especially difficult for entrepreneurial women of color.
In contrast, only 32% of men use cash funding and 11% from family and friends.
The F Project
You might be wondering, “What the F is The F Project?”
Two female founders walked into a coffee shop and connected about the businesses they each started.
Erika and Phyllis bonded about how their companies were making progress, but how it was slower than they anticipated. Feeling limited with the professional and personal support for women trying to expand their businesses, these ladies started The F Project.
The F Project’s mission is to raise the profile and economic success of female founders through collective action to increase revenue, awareness, and access to capital.
Our founder, Alexis Mera Damen said, “F yes” to The F Project.
If you’re not familiar with us yet, Alexis Mera is a clothing brand and platform that celebrates women through photography, stories, and empowering graphic t-shirts. Our tees and tanks get designed in collaboration with trailblazing ladies, who select charities where 5% of sales get donated at the end of each month.
Alexis joined The F Project to support fellow female founders and to also get the same support in return.
Check out the other female founders who are part of The F Project here.
If it’s already so difficult for female founders to get funding and support, who else is going to support them if it doesn’t start with us? Women 👏 Supporting 👏 Women 👏. We are stronger together when we support one another.
You can support women entrepreneurs by sharing their businesses with others. Join The F Project if you’re a female founder, or share it with all the female founders you know.
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