06 October 2022
Incase you’ve still been wondering: How women in business SOAR.
The new business arena is being constructed from shards of the glass ceiling.
It’s a welcoming environment for female entrepreneurs, with a focus on collaboration, consensus, and diversity. Much of it is virtual, as more women choose to conduct business online. The number of female founders and owners has skyrocketed in recent years, and the impact of businesses led by women is significant in terms of revenue and hiring.
Female entrepreneurship is on the rise as a result of both opportunity and necessity. SCORE polled women and discovered four major motivators: having the experience to start a successful business, financial readiness, following a passion, and desiring flexibility in their lives.
Women of all ages are starting their own businesses. While the majority—76 percent in SCORE’s report and 65.5 percent overall—are between the ages of 35 and 64, millennials and seniors are also making an impact.
Although the majority of businesses are in traditionally male-dominated industries such as retail, health care, education, the arts, travel, food services, marketing, and other professional services, some choose traditionally male-dominated industries such as construction and manufacturing.
While women starting businesses in STEM (science, technology, engineering, and mathematics) are still uncommon, that is changing thanks to the Empowering Women in Entrepreneurship Act and the INSPIRE Women Act, both of which were signed into law in 2017.
To address issues as universal as the future of the Earth and as personal as the day-to-day challenges of being a woman, modern female entrepreneurs draw on feminine strengths such as effective networking, empathy, and an inclusive, holistic mind-set. Some even believe that motherhood, which once sent women down the “mommy track,” makes them more productive in business.
Til next time,