When Precious L. Williams started her business coaching practice Perfect Pitches, she felt isolated. “It takes a long time to feel comfortable with your business,” Williams shared in program materials for Women Entrepreneurs NYC (WE NYC). “I felt very lonely and isolated as a woman entrepreneur, and I was afraid to ask questions.”
What changed? Finding a safe space to ask those questions with other women entrepreneurs through WE NYC, a city program specifically designed to address the entrepreneurship gender gap.
Williams’ story isn’t unique. Across New York State, there are approximately 832,967 women-owned businesses employing approximately 92,967 workers. Nationally, women launched 49% of new businesses in 2024—a 69% increase representing the highest rate in a five-year period.
But the numbers also reveal persistent challenges. The average revenue across all women-owned businesses is $226,000—and if women-owned businesses matched the average revenue of male-owned businesses, they could add $10.2 trillion annually to the U.S. economy. In New York specifically, over 70% of white business owners and nearly 98% of Asian owners have at least 14 days of cash buffer, compared to only 5.3% of Black and 10.5% of Hispanic owners.
That’s where community resources, mentorship programs, and targeted funding initiatives come in. Here’s where NYC women entrepreneurs are actually getting help in 2026.
The City’s Free Ecosystem for Women Entrepreneurs
Women Entrepreneurs NYC (WE NYC) launched in November 2015 as the first city program in the country specifically designed to address the entrepreneurship gender gap. Since programs opened to the public, WE NYC has served over 5,000 women, held 1,200+ workshop hours, provided 580+ hours of mentorship, and built a Facebook community of 5,000+ followers.
The program offers three main tracks, all free:
WE Master provides structured learning across critical business skills:
- WE Master Leadership: A 12-hour workshop spread over 2-4 days covering soft skills like communication, building confidence, networking, time management, negotiating contracts, managing stress, and managing people. Delivered in cohorts of 30 women with interactive, experiential learning.
- WE Master Money: Credit: Cohort-based credit curriculum coupled with one-on-one financial counseling, teaching businesses how to separate personal and business finances and establish, then improve, business credit scores.
- WE Master Money: Funding: One-day cohort-based capital planning curriculum guiding women entrepreneurs through creating a financial roadmap that identifies what financial products make sense at different lifecycle stages.
WE Connect builds community and mentorship:
- WE Connect Mentors: Subject matter experts from various industries, backgrounds, and business life stages provide mentor sessions across the city.
- WE Connect Events: Networking opportunities with structured topics like building confidence, growing your business, and accessing capital. Participants break into small groups of 8-10 people for peer learning.
- WE Connect Portal: One-stop-shop featuring a dynamic listing of events, classes, and resources, a map of women-owned businesses, blog posts from mentors, success narratives, capital planning tools, and more.
WE Legal provides access to legal expertise—often prohibitively expensive for early-stage entrepreneurs. Women receive legal advice from NYC’s top law firms on various crucial topics during one-on-one consultations.
Perhaps most innovative is WE FUND Crowd, a city-led crowdfunding initiative partnering with the nonprofit platform Kiva. WE NYC contributes the first 10% of crowdfunded loans secured by NYC-based women entrepreneurs, helping them access affordable capital while building a customer base.
The Alliance Approach: NYWIB
Recognizing that no single organization can meet all entrepreneurs needs, New York Women in Business (NYWIB) takes an alliance approach. Founded in 2016 as part of SCORE NYC—a partner resource of the Small Business Administration—NYWIB is now an alliance of eight professional organizations pooling resources and expertise.
The alliance shares education from thought leaders, organizes events, and promotes opportunities for the community to learn and grow. All partner organizations share a common goal: supporting the personal and economic success of women.
Key alliance partners include:
- SCORE NYC: Provides small businesses and startups in the New York Tri-State area with free, confidential, one-on-one mentoring from 80 volunteer mentors—all industry experts with decades of experience. Offers over 160 affordable, practical workshops per year.
- Accompany Capital: Helps New Yorkers start and grow small businesses through low-cost small business loans, classes, workshops, and extensive one-on-one support.
NYWIB also spotlights member success stories. Dr. Arti Jagidar, driven by her Indian immigrant heritage, leveraged 15 years of experience in NYC’s elite dental practices to establish Flatiron Dental in 2023, focusing on dental health as a window to overall wellness. Chef Andrea Young, founder of Sweet Vegan Chocolates, shifted from design to chocolate-making after a career setback, launching her business in 2019 and securing partnerships with Hilton Hotels and JFK Airport despite pandemic challenges.
Access to Capital: Beyond Traditional Banks
Capital remains one of the biggest barriers for women entrepreneurs. According to a 2019 HSBC Global Private Banking Survey, 58% of American women entrepreneurs were concerned about gender bias when raising financial capital, and 46% said they experienced gender bias during the pitch process.
Several NYC programs specifically address this gap:
The NYC Funds Finder—a program of the NYC Department of Small Business Services—enables small businesses to access funding products and connect with financing advisors who can guide them on suitable financial products, help with document preparation, and connect with multiple providers.
New York State’s Minority and Women Business Enterprise (MWBE) program provides not just grants and contracts, but also financial resources, technical assistance, and networking opportunities. To apply, businesses must have current MWBE certification with at least 6 months remaining, a business Federal Tax ID, and be a registered New York vendor.
The results are significant: New York State exceeded its 30% MWBE utilization goal for the fourth straight year in fiscal year 2023-24. The 32.21% utilization rate represents nearly $3 billion in public contracts awarded to certified MWBEs that year, and nearly $12 billion since Governor Hochul took office.
For early-stage entrepreneurs, the Amber Grant for Women offers $10,000 monthly grants through a simple two-question application process. Monthly winners are also eligible for three annual $50,000 grants—meaning potential total funding of $60,000.
Industry-Specific and Regional Resources
Beyond general business support, several organizations focus on specific regions or industries:
The Women’s Enterprise Development Center (WEDC), a 501(c)(3) corporation, has been empowering women entrepreneurs since 1997 in Westchester County and the Hudson Valley. WEDC supports entrepreneurs in Westchester, Rockland, Putnam, Dutchess, Ulster, Orange, and Sullivan Counties through high-quality training programs, advisory services, and access to capital.
“WEDC played a significant role in our success,” one entrepreneur shared. “Through the entrepreneur training program I was able to put together a very thorough business plan with projections which were submitted to M&T for our small business loan. We had absolutely no issues receiving financing and I credit that to the help we received through WEDC.”
WEDC offers programs in both English and Spanish, including the “Entrepreneur Growth Lab” and “Laboratorio para el Crecimiento Emprendedor,” recognizing the diversity of entrepreneurs they serve.
What the Numbers Say About Women’s Entrepreneurship in NYC
The entrepreneurship landscape is shifting in women’s favor—but inequities persist:
In New York State, 23.5% of businesses are majority-female owned, slightly higher than the national average of 22.5%. However, these firms employ a greater share of employees relative to their numbers.
New York has approximately 2.4 million small businesses, representing 99.8% of all businesses in the state and employing approximately 3.9 million people (46.6% of all state employees). Women-owned businesses are a significant and growing portion of this ecosystem.
NYC specifically saw approximately 25,500 new business registrations in 2024, with 6,530 businesses started in Q4 2024 alone. Brooklyn leads with 46,300 firms, followed by Manhattan (37,500) and Queens (34,400).
Nationally, the trends are even more encouraging. Between 2019 and 2024, women-owned businesses grew 43.5% faster than men-owned businesses. Employment in women-owned businesses grew 19.5% during the same period.
As of 2024, there are 14.5 million women-owned businesses in the U.S., comprising 39.2% of all firms and employing 12.9 million workers. These businesses generate $3.3 trillion in annual revenue.
The Persistent Challenges
Despite growth, significant barriers remain:
The revenue gap is real. Women-owned businesses average $226,000 in revenue compared to significantly higher averages for male-owned businesses. Only 2.4% of women-owned businesses qualify as middle-market firms.
Racial equity gaps compound gender gaps. Equalizing revenue among minority women and white women-owned firms alone could add $832 billion to the economy. Cash buffer disparities are stark, with Black and Hispanic owners having far less runway than white or Asian owners.
Access to capital remains challenging. While 2024 saw improvements—with women-owned businesses receiving more loan approvals and higher amounts than previous years—venture capital funding still heavily favors male-owned businesses, particularly in tech and high-growth sectors.
Hiring has become more difficult. 67% of women-owned small businesses say hiring has become more difficult post-COVID-19 pandemic, affecting their ability to scale.
Why Community Matters More Than Ever
For 9 out of 10 New York business owners, according to Census Bureau data, being their own boss and greater income potential were the primary reasons they started their business. Over 80% cited flexible hours, work-life balance, and the best avenue to promote their ideas as motivations.
But the journey from idea to sustainable business requires more than motivation. It requires knowledge, capital, networks, and support—particularly for women navigating systemic barriers around credibility, funding, and work-life integration.
This is where community resources become essential. Whether it’s WE NYC’s free workshops and mentorship, NYWIB’s alliance approach pooling expertise across organizations, WEDC’s regional focus in the Hudson Valley, or specialized programs addressing specific barriers like credit building or legal services access, these resources fill critical gaps.
The data shows they work. During economic downturns, women-owned businesses are 32% more likely to pivot and survive compared to male-owned firms. Women who access business support programs report higher confidence, better financial literacy, stronger networks, and improved business outcomes.
Getting Started in 2026
If you’re a woman entrepreneur in NYC—whether you’re just starting or looking to scale—here’s where to begin:
For general business support: Start with WE NYC for free workshops, mentorship, and legal consultations. Connect with NYWIB to access their alliance of eight organizations and tap into SCORE NYC’s free mentoring.
For capital: Explore the NYC Funds Finder, apply for MWBE certification if eligible, and consider alternative options like WE FUND Crowd or Amber Grants. Research whether your business qualifies for industry-specific grants or the New York StartUP! Business Plan Competition.
For regional support: If you’re in Westchester County or the Hudson Valley, connect with WEDC for training, advisory services, and capital access specific to your region.
For connection: Join the WE NYC Facebook community, attend WE Connect Events, and seek out industry-specific women’s business organizations. As Precious L. Williams found, having a safe space to ask questions with other women entrepreneurs can be transformative.
The Bigger Picture
Women’s entrepreneurship isn’t just about individual success stories—though those matter. It’s about economic transformation.
Women start businesses to solve problems they’ve experienced. More than half of women-owned businesses offer healthcare, social assistance, personal care, professional and technical services, and beauty services—sectors that directly improve communities. Service-based businesses often evolve into employer firms that positively impact communities for decades.
When women-owned businesses thrive, they create jobs, mentor the next generation of entrepreneurs, and model what’s possible. When women entrepreneurs support each other through alliances like NYWIB or programs like WE NYC, they build infrastructure that makes the path easier for those who follow.
The numbers are promising: 49% of new businesses in 2024 were launched by women. But to move from promising to transformative, these businesses need to survive, scale, and generate sustainable revenue. That requires addressing persistent gaps in capital access, reducing racial equity disparities, and continuing to build community resources that meet women entrepreneurs where they are.
As one WE NYC participant put it: “What’s so great about WE NYC is being able to ask questions in a safe space with other women entrepreneurs.” Sometimes, that’s where transformation begins.
Ready to access support for your business? Women Entrepreneurs NYC offers free workshops, mentorship, and legal consultations. New York Women in Business connects you with an alliance of eight organizations. Learn more about building your business, accessing capital, and career transitions at WMN Magazine.
