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Women Florida Business Owners Have a Chance to Win $10k

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The $10,000 entrepreneurial prize was created by BankUnited and is known as the 'Small Business, Big Dreams' Women in Business Challenge

By Danielle Lachance

Has the COVID-19 pandemic left you concerned about your economic future and the overall strength of the economy in general? While those fears are understandable, Florida business owners are thriving in many ways. And now, a new $10,000 opportunity has opened up for women business owners in the sunshine state, allowing them to grow their company in many unique ways.

More Americans Are Becoming Entrepreneurs

As COVID-19 impacts the marketplace, a growing number of people are starting businesses of their own. Approximately 900,000 new domains are registered every week. This unique entrepreneurial spirit could help push the economy back to a higher level. Many states are trying to do what they can to improve this experience. New prices and grants are opening up every few weeks to help inspire more business success.

The $10,000 entrepreneurial prize was created by BankUnited and is known as the 'Small Business, Big Dreams' Women in Business Challenge. It includes a series of live pitch events and a business summit that takes place during National Women's Small Business Month this October. To apply, you must submit an application and produce a three-minute pitch by September 23.

You must also be based in Florida or New York and be a majority-woman (51%) owned business. Successful pitches will be those that show vision and a genuine ability to connect with residents. Potential winners must be willing to show that their ideas are good, highlight different aspects of their overall business market, and do what they can to stand out compared to others.

Common Costs Business Owners Struggle With

Within the first five years of business, up to 50% of start-ups fail. These failures are largely due in part to money. According to MarketWatch, women-owned businesses often suffer from a lack of funding and aren't able to find investors the same way men-owned businesses can. Depending on the amount of luck a business has in its first five years, certain factors could make the financial situation even worse. For instance, a flooded basement can cost up to $20,000 in damages, and hurricane season makes property damage a regular threat. Depending on the type of business you own, transportation costs can also be a major factor in the success of your business. A single refrigerated truck can cost up to $60,000.

The $10,000 prize can help business owners mitigate some of these financial difficulties.

If you're a woman business owner in Florida or plan on starting a new company soon, consider pitching your services to BankUnited. Doing so could increase your chance of winning this prize money and pushing your financial success even higher than expected in the future. Pay attention to other potential monetary sources like this and do what you can to apply.

Application, BankUnited, Business Challenge, Business Owners, Entrpreneurs, florida, New York, Pitch, Prize, Small Business Big Dreams, Women

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