For over a decade, GiGi lovingly crafted her signature hot sauce for friends and family, always hearing the same refrain: "You need to start a business!" But like many entrepreneurs, especially women, the hurdle of startup costs seemed daunting. It wasn’t until December of 2023, when a close friend made the first official order, that GiGi realized it was time to take the plunge. That single act of support ignited the flame, and by February 2024, GG’s Hot Sauce LLC was officially born.
Yet, as with any dream, the reality of turning it into a full-fledged business came with unexpected hurdles. Navigating the complex world of regulations, permits, and commercial kitchen rentals proved challenging, especially for a small business owner like GiGi. "I used my personal savings to get started, but the ongoing monthly costs are adding up," GiGi shared. From securing permits to renting commercial kitchen space at $100 for just two hours of use, the costs quickly became overwhelming. And while optimism was high, GiGi soon realized that being a small, women-owned business added layers of difficulty.
The Reality for Women Entrepreneurs
GiGi’s story is all too common. Starting a business is hard enough, but for women—particularly women of color—the challenges are often compounded. In 2023, research showed that women were 25% more likely to be denied a business loan than men. Even when they do secure funding, women-owned businesses receive 40% less funding than their male counterparts. And for Black women entrepreneurs, the situation is even more dire, with only 0.34% of venture capital funds being allocated to Black women founders in 2021.
These statistics aren’t just numbers; they represent real barriers for women like GiGi, who have the talent and drive but struggle to secure the necessary financial support to turn their dreams into thriving businesses.
How HALP Can Help
HALP provides an alternative to traditional funding routes, offering a way for small business owners to raise the capital they need without facing the daunting barriers of bank loans or venture capital. With HALP, GiGi’s Hot Sauce LLC can get the visibility and financial backing it needs to scale. Whether through direct donations, community support, or offering incentives like exclusive products, HALP empowers women like GiGi to raise funds transparently and efficiently.
One of HALP’s unique features allows fundraisers to offer donors claimable digital assets when they contribute above a certain threshold. This means GiGi could offer a special collectible that gives donors access to exclusive future experiences or even products. These digital assets, verified onchain, not only incentivize donations but also create a deeper connection between supporters and the business.
With HALP’s transparency features, GiGi can link her fundraiser to her website and social media platforms, ensuring that donors can trust where their contributions are going. And through HALP’s integration with Endaoment, nonprofits can further enhance their fundraising capabilities, making it easier for businesses to give back and for causes to thrive.
GiGi’s Next Steps
GiGi is currently raising $8,000 by December 8, 2024, to cover the ongoing costs of running GG’s Hot Sauce. From creating an independent website to upgrading her equipment and covering monthly expenses, these funds will help her turn her passion into a sustainable business. GiGi is also looking forward to participating in more pop-up events, Quartemanias, and farmer's markets, bringing her unique hot sauce to a broader audience.
For GiGi, this journey is about more than just hot sauce—it’s about perseverance, faith, and the belief that no dream is too big. "No man is an island. It takes a village," she says, reflecting on the support she’s received along the way. And with HALP, GiGi has found a tool that can help her village grow.
Support GG’s Hot Sauce and Other Women Entrepreneurs
If you believe in GiGi’s story and want to help break down the barriers that women and minority entrepreneurs face, consider supporting GG’s Hot Sauce on HALP. Together, we can create opportunities for more women like GiGi to see their dreams take flight.
For those looking to start their own journey, HALP provides a streamlined, transparent platform to raise the funds you need, whether for a business, nonprofit, or personal project.