Changing standards can help banks better serve women business owners, report says

02/21/2014 | American City Business Journals

Banks need to do more to tap the potential presented by women business owners, according to a report by Treliant Risk Advisors and the Greater D.C. chapter of NAWBO. It's critical for banks to recognize the difference between lifestyle businesses and businesses run by women entrepreneurs who are focused on growth, according to the report. In addition, the report recommends that banks expand the definition of women-owned businesses to include those owned equally by women and men. Ultimately, banks should stop trying to apply a "one-size-fits-all" policy when assessing women-owned businesses, the report says.

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