Women entrepreneurs have an enormous economic impact in the small business community.
Before COVID-19, women were starting new businesses in record numbers. This article explores those numbers, why women are flocking to entrepreneurship, and how these trends are likely to increase as things normalize after the pandemic is over.
Women Owned-Businesses Increasing
American Express recently commissioned a study called the “2019 State of Women-Owned Businesses Report”. What they found was that women have increased their entrepreneurial efforts, particularly in the last few years.
Here are some of the numbers:
Why are these numbers steadily increasing? Are there benefits to starting a small business that women are leveraging?
Why Are Women-Owned Businesses on the Rise?
The American Express study showed that women-owned businesses have increased by nearly 3,000 percent since 1972. Women now make up 42 percent of all entrepreneurs in the United States. Why is starting a small business now so attractive to women? Here are our top four reasons:
After the coronavirus, we suspect that exactly none of the issues driving women into starting a small business will lessen. Women want to contribute and be paid equally for their efforts, and they certainly deserve it. The good news is there are plenty of small business loans available to women entrepreneurs. These resources will continue to help women-owned businesses make an impact long after the COVID-19 pandemic is a distant memory.
If you are looking for funding, work with a partner who understands your unique needs. Schedule a consultation with a Benetrends Consultant today.
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