The Law Office of Lynnette Ariathurai A Professional Corporation

Award of business startup money to Latinas in California

Although many would-be entrepreneurs have great ideas, oftentimes these ideas never see the light of day. Some of these ideas may require significant financing in order to begin the business. However, Latina entrepreneurs will now have a new opportunity to obtain financial support for their good ideas through a contest for business startup companies in California.

The contest, which is being sponsored by Latino Startup Alliance, Xoom and Square, is titled "Soy Empresaria," which translates to "I'm a business woman" in Spanish. Latina entrepreneurs will be able to submit their business plans until the deadline set for mid-December. Selected applicants will be awarded $10,000 each for financing for their startup business concept.

The top three submissions will receive a free trip to Square's headquarters in order to attend an awards ceremony in their honor. Along with the startup financing, the winners will also have the opportunity to receive coaching from high-level executives from Latino Startup Alliance, Xoom and Square. Savvy Latina entrepreneurs are encouraged to submit for the contest via the Internet.

After the lucky winners are chosen, these entrepreneurs will now have the opportunity to get their business startup ideas off the ground in California. However, obtaining the necessary startup capital is just one part of the equation. The entrepreneurs will also have to make sure their new companies are compliant with applicable rules and regulations. This means having the essential legal documentations for properly forming the type of business entity required for a particular business model and industry.

Source: Latin Post, "Latino Startup Alliance and Partners Launch $10,000 Contest for Latina Businesswomen in California", Robert Schoon, Nov. 14, 2014

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