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Partnership ideas for women owned status

    • 927 posts
    May 7, 2012 3:08 PM EDT

    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?

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    • 2 posts
    May 7, 2012 2:44 PM EDT

    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