NEW YORK — Women own more than a quarter of all small U.S. companies, but a women's economic development group maintains that many of these entrepreneurs still don't have the financial savvy to write a credible loan application.
Beatrice Fitzpatrick, president and founder of American Woman's Economic Development Corp., said women's uneasiness with the financial end of business is cultural.
"Most women who come here are wonderful at the creative end but haven't learned the business end," she said. "They've been given the message one way or another . . . that this is not something they should be concerned with."
The trend is especially disturbing because almost 50% of all small companies will be run by women by the turn of the century, according to Fitzpatrick.