Austin entrepreneur discusses challenges women face starting, growing a business

AUSTIN (KXAN) -- It's not easy opening a business, especially if you're a woman. According to a report, women entrepreneurs in Austin face a lot of different challenges.

Last July, Mayor Kirk Watson formed the Mayor's Task Force for Austin Women Entrepreneurs.

The goal was to figure out how to make Austin a great place for women to launch and build businesses.

Access to capital

The group released its report that detailed the obstacles women face and a list of twelve possible solutions. According to their findings, women entrepreneurs said they don't have access to a lot of mentors and a broad professional network.

However, the biggest obstacle was funding. Of those surveyed, 62% said access to capital was the biggest challenge they faced.

The task force recommended things like creating an angel investor group to invest exclusively in women-owned businesses. It also suggested creating an initiative to help women entrepreneurs find affordable childcare.

I want to thank Carla McDonald for being a great chair, and I also thank the rest of the Task Force for their work over the past several months. The work of the Mayor’s Task Force for Austin Women Entrepreneurs provides an important roadmap for how we can make sure Austin is the best place for women to start and grow a business.

I’ve already started working with the City’s Economic Development Department looking for the things we can move on immediately and how we can improve our outreach and public resources— including creating a Small Business Administration Women’s Business Center here in Austin and challenging the investor community to increase their investments in women entrepreneurs. The work is just beginning, and I look forward to sharing more news soon.”

Austin Mayor Kirk Watson

'It's been hard'

Inside Los Chilakillers, you can hear the savory sound of sizzling on the grill. For four years, Mina Ibañez has cooked up the authentic Mexican dish, Chilaquiles, in her north Austin restaurant.

"It's a traditional breakfast plate, but you can eat it all day," Ibañez said.

But getting here didn't come without its challenges for her.

"It's been hard, especially being a woman in a man dominated industry. If you want to get any funds to expand your business, which is my case, it's been really hard trying to find help."

Mina Ibañez, Owner of Los Chilakillers

Ibañez said it was tough for her to get funding as she works to franchise her business.

"It was really difficult for me to get a loan through a bank," Ibañez said. "So I had to hire somebody. I had to pay somebody to help me to get a loan."

The possibility of women getting more support encourages Ibañez. She hopes it inspires others to chase their dreams.

"I was 50 when I opened this restaurant, and everybody around me told me that I was getting older," Ibañez said. "I feel empowered. I have a lot of energy. Don't ever, ever give up your dreams."

Ibañez said her goal is to give her first franchise business to a woman.