Forums: Discussions for entrepreneurs and small business.

Hello,

I am planning to fund a small startup with a female partner.  I have two major concerns.

1) I will putting up 100% of all startup capital and my partner is a female, we want to be women owned to compete for goverment business in the area.

2) How can I structure the company so that I have majority control becuase I am funding it, but allow it to still be women ownened.

One idea I had thought of is to add my wife to the company, even if she is not very active, possibly just giver her a board position, but no operational position.

I have no problem giving up 30% to the female partner, she will provide tremendous sweat equity to the business, she is a licensed professional with years of experience.  I am just a business acquantaince willing to help her get started.

thanks, Scott

 

-------------------------

Scott,

The government definition of "women owned' is > 50% owned by women.

I am curious as to what having "majority control" will do for you? Especially since the other party is a licensed professional, which I assume is essential to the functioning of the business. 

Are you going to be actively involved in the business?

-------------------------

Business Growth Masters, LLC -
Capital Catalysts for Entrepreneurs
Home of the Scalable Business Plan and QuikStart Capital Programs
http://www.bizgrowthmasters.com
info@bizgrowthmasters.com