Did you know that…
• A 2022 study revealed that women accounted for 47% of new entrepreneurs in the US, up from the pre-COVID-19 rate of 29%.
• Women-owned businesses constitute 42% of all US and 33% globally, employing over 9.4 million workers.
• Women have a 28% lower failure rate than business founded by men.
• The World Bank emphasizes the substantial contribution of female entrepreneurs to global economic growth and poverty reduction.
The success of women in business can be attributed to our strong innovation, risk-taking, and empathy skills. Harvard Business Review places women ahead of men in resilience, self-development, and initiative-taking. Plus, we tend to downplay our success, maintaining a continuous drive for improvement and surpassing goals.
Before you leave your “9 to 5,” research a variety of industries and consider franchises. They are appealing to women due to the perceived advantages of better work/life balance and pay (90 cents versus 82 cents) to a man’s $1.
Despite advancements, women, especially from minority communities face barriers that hinder professional and personal ambitions. Fortunately, numerous organizations, including the SBA/Office of Women’s Business Ownership, industry groups, crowdfunding platforms, and financial institutions like Goldman Sachs and Bank of America, actively work to alleviate these challenges.
Fortunately, numerous organizations, including the SBA/Office of Women’s Business Ownership, industry groups, crowdfunding platforms, and financial institutions like Goldman Sachs and Bank of America, actively work to alleviate these challenges.
