University of Denver launches center for female entrepreneurship

While all small businesses are struggling to survive during the economic recession, those owned by women have a worse chance of succeeding than male-owned businesses. Now, the Women's College of the University of Denver is hoping to help female entrepreneurs.

Opening in late October, the new Center for the Advancement of Business Leadership and Entrepreneurship for Women will offer workshops, mentors and funding opportunities in the hopes of increasing the success rate of women-owned firms, the Denver Post reports.

In 2007, the U.S. Census Survey of Business Owners reported that 29.2 percent of all Colorado businesses were owned by women - an increase of 18.4 percent between 2002 and 2007. Even with this rate of growth, the firms are continuing to struggle. In Colorado, only 64.6 percent of women-owned firms survive, compared to 69.2 percent of those owned by men.

"Access to funding is one area of difference between men and women," Jeanne Callahan, the center's newly appointed director, told the paper. "I find that men have these networks they've developed through business or social contacts that give them more connections to lenders and investors."

Many other resources exist to help female entrepreneurs. Minority Women in Business Magazine will be hosting the S.M.A.R.T. Moves 2010 business event in Washington D.C. for minority, women, veteran and disabled small business owners to teach them the tools of financial success.