“Businesses need women executives, and the economy needs women entrepreneurs, not just because of some fuzzy idea about diversity quotas, but because more diversity in the boardroom and the home offices translates into a better, stronger business.” — Huff Post
Women entrepreneurs are a powerful part of today’s economy. They see the world through a different lens and, in turn, do things differently. Their business insight, intelligence, and resilience are among the many reasons women make such an impactful contribution.
Unfortunately, women are less likely to have access to capital, face more discrimination, and find themselves facing various work-life balance issues than male entrepreneurs.
Let's look at many of the co-occurring factors that create an increasing need for more women entrepreneurs in the global marketplace.
Be the Boss writes: ‘Women are job creators’
The data varies slightly but consistently shows women comprise a growing percentage of businesses and employers:
The 9.1 million women-owned businesses accounted for 7.9 million jobs in 2015. Those businesses generated $1.5 trillion in revenue. In 2015, women-owned companies comprised 31 percent of all privately held businesses, employ 14 percent of the workforce, and generate 12 percent of total revenue.
The Kauffman Foundation put the rate of women-owned businesses at 40 percent in 2016.
In a 2016 report commissioned by American Express, it was estimated that women-owned 11.3 million businesses, employed 8.98 million people, and generated $1.6 trillion in annual revenue.
Be the Boss is the world’s leader in Franchise Expositions and online Franchise Directories.
Huff Post writes: ‘Startups with female executives are more likely to succeed’
Businesses need women executives, and the economy needs women entrepreneurs, not just because of some fuzzy idea about diversity quotas, but because more diversity in the boardroom and the home offices translates into a better, more substantial business.
From the Center for International Enterprise to the Harvard Business Review, business experts have agreed for several years that the world needs to support women entrepreneurs' development. Studies show that when women gain access to their financial freedom, they are lifted out of poverty, children begin to become healthier, and the overall economic status of a country improves, Inc. writes.