By Debbie Gregory.

According to the National Association of Women Business Owners (NAWBO), more than 11.6 million firms in the United States are owned by women, employing some 9 million people. There are numerous resources available to women-owned businesses and entrepreneurs.

The first obstacle that many business owners face is capital. There are a few options when it comes to funding your business. There are a number of grants available for women business owners including Amber Grants for Women, Eileen Fisher’s Community Partnerships Grants, FedEx Small Business Grants, The Girlboss Foundation, Idea Cafe Small Business Grant Program, and the Open Meadows Foundation Grants.

While free money may be music to your ears, business grants, which are basically free money, have some disadvantages, most of which is the amount of paperwork necessary to just apply for, let alone, secure this type of funding.

Additionally, there are opportunities to pitch your business in contests to receive prize money or invaluable business guidance and coaching.

Cartier’s Women’s Initiative Awards are open to female entrepreneurs “in the initial stages of development, in any country, of any nationality and operating in any industry.” The goal of the program is to help high-potential women take their early-phase businesses to the next level.

The Entrepreneurial Winning Women program is a national competition and executive education program that identifies women entrepreneurs with high potential and offers them the assistance to help them succeed.

The InnovateHER Challenge looks for products and services that have a positive, measurable impact on the lives of women and their families. These are products and services that are not quite on the open marketplace yet, but need a bit of help to meet their commercialization potential.

The Streetshares Foundation’s Veteran Small Business Award is open to all veteran business owners. The judging is based on the social impact of your business on the military community , your business idea, what customer need you are filling (product-market fit), your team and company history, and how you plan to use the award and its potential impact.

The Tory Burch Foundation’s Fellows Program aims to provide community support and education opportunities to those wanting to grow their business.

If a grant or a contest are not the way for you to go, you can consider getting a business loan. Be sure to have your business plan and your financials together and ready-to-go.

You will also want to avail yourself of personal and professional growth opportunities, including online/webinar courses, mentorship and networking opportunities.