Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Twin Cities
Tampa Bay news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa Bay
Charlotte news in your inbox
Catch up on the most important stories affecting your hometown with Axios Charlotte
Marius Boatca via Flickr CC
Only 1% of female founders use venture capital funding to back their businesses, according to an Ernst & Young (EY) and Women's Presidents' Organization (WPO) report, obtained by Fortune. The study looked at 430 women-owned businesses over their lifetime, including old and new companies, and found that:
- 8% of the women are using personal savings instead of VC funding
- 22% incurred personal debt
- 18% received a loan from friends or family
Why not: Co-founder of EY's Entrepreneurial Women program said some women don't seek out venture capital funding in the first place and see it as a point of pride and a source of control — 100% ownership of the business.
Where it stands: 2.19% of all venture capital funding went to women last year, which is a smaller percentage than almost every year in the last decade.