Written by Tanya Benedicto Klich
Today’s venture capital process continues to fail female founders, forcing many to risk their own savings to start a business. But that can come at a cost to their personal well-being.
“Emotionally and financially the responsibility is all on you, so it can cause a great deal of worry and concern,” says Cate Luzio, founder and CEO of Luminary, a New York City-based workspace for women that also serves as a global education and networking platform. (Luzio bootstrapped Luminary.) “Anxiety is a major issue, especially if you end up needing to access capital, or if you’ve depleted your savings, racked up debt, or gone into retirement [reserves] to fund the business.”