Heard on the Street: open hiring, women entrepreneurs, and CDFI funding for startups

Heard on the Street – here’s what we were reading last week:

The 2018 State of Women Owned Businesses Report: American Express released the findings from their annual State of Women Owned Businesses Report. The report shows that there are now 12.3 million women-owned businesses accounting for 40% of all businesses. However, they only account for only 8% of total employees and 4.3% of total revenue.

De Blasio Administration Announces We Venture, Plan To Increase Access To Funding For Women Entrepreneurs: The City of New York will create a Venture Capital Investment Consortium, which will be  part of the WE NYC initiative. The Consortium will address the disparities related to raising capital experienced by women entrepreneurs, especially in the tech industry.

This company hired anyone who applied. Now it’s starting a movement: Former Next Street client Greyston Bakery uses a practice of open hiring, where they fill positions on a first-come, first-served basis, with no additional interview or background check process. Now, the Center for Open Hiring will teach other companies to implement similar practices.

Four Ways To Fund Your Startup Without Venture Capital: Forbes lists CDFIs as a an option for startups that are considering alternative funding outside of venture capital, highlighting their lower interest rates and financing programs aimed at increasing access to capital.