Are female entrepreneurs taking over in 2023?
Women are taking over the world. They're starting businesses, getting degrees and making more money than ever before. So what does this mean for women who want to be entrepreneurs? There are no limits on where you can start a business or what kind of business you can start as long as it's not illegal or unethical. If you have an idea for something that will bring value to customers or clients then we can help get it off the ground and turn it into a successful company!
Women are starting more businesses than ever
You may not have heard of it before, but the number of women entrepreneurs is growing at a rapid rate. In fact, women-owned businesses now account for nearly half of all small businesses in the United States - and have been growing at a rate twice that of men-owned ones since 1997.
This trend is likely to continue as more and more women gain access to education and training that helps them start their own business. But why are so many female entrepreneurs starting up? And what does this mean for our future?
Data shows that there are several reasons why more women are becoming entrepreneurs today than ever before:
They're self-employed at higher rates than men (according to BLS data from 2018)
Women tend to start businesses in fields like service industries rather than manufacturing or construction (according to NFIB's Small Business Economic Trends report)
The average age of a female entrepreneur is 40
The average age of a female entrepreneur is 40. You may be thinking that this is an outlier, and you’re right—the average male entrepreneur is 37. However, women are more likely to be married and have children than their male counterparts. This could explain why they’re older when they start businesses; it also means that they have more assets available to them to invest in their startups.
The majority of female entrepreneurs possess college degrees, while less than half (43%) of male entrepreneurs have one.
More women than men over 25 have college degrees
Women are not just in women's industries anymore. They're starting businesses in every industry, including male-dominated industries.
These include:
The fashion industry
The food industry
The beauty industry
You can even see this reflected in the list of women entrepreneurs who have found success by disrupting old-school industries:
Sara Blakely - Spanx founder and self-made billionaire who started her company with $5,000 worth of tights she bought on sale at Kmart and sold out of her living room closet door to friends and family.
Kat Lonsdale - Founder of Cardamom & Clove who started small with a $50,000 loan from her mother and grew into one of Australia's most successful companies after only four years in business!
Some industries still have a long way to go
While it’s true that more women are becoming entrepreneurs than ever before, some industries remain male-dominated. In fact, over 50% of all entrepreneurs in the United States are men.
This is especially true in the tech sector, which has a long history of being particularly unfriendly to women. And while this changes every day—as more and more female tech founders emerge—it’s still a slow process.
There are lots of ways to get capital to fund your business, contact us for help
There are many ways to get capital for your business. You can leverage loans and grants, or even crowdfund. If you're looking for funding, we can help you with a business plan and pitch deck that will help convince investors. Contact us today!
Women entrepreneurs have a lot of opportunities in the new economy.
If you're a female entrepreneur, it's time to celebrate! It's time to celebrate because women entrepreneurs have more opportunities than ever before. It's true that there are still barriers and challenges for women, but the new economy is chock-full of opportunities for female entrepreneurs.
In fact, according to recent data from Forbes and Harvard Business Review (HBR), it appears that in nearly every industry, women are starting businesses at a higher rate than men. And this isn't just limited to small businesses—women also comprise an increasingly large percentage of Fortune 500 CEOs and executives. In addition, studies show that the average age of a female entrepreneur is 40 years old or older—significantly older than their male counterparts who typically start businesses between 27-30 years old. Finally, many young men have left college without getting degrees while young women continue pursuing their education through graduate programs across the country.
Are you a SHE-ro?
With all these trends, it’s clear that women entrepreneurs have a lot of opportunities in the new economy. It’s not just about having capital to start your business—we can help you with that too! We want to see more women thrive, whether they are starting their own companies or working at other startups. If you want funding for your own business but don't know where to start, contact us today!
