Category: Gender Dynamics

Rising Influence of Women in the Restoration Industry

The growing presence of women in the restoration industry (this industry focuses on repairing and restoring properties damaged by events like fires, floods, mold, and other disasters) signifies progress in breaking traditional gender roles, with women taking on key roles as technicians, business owners, and leaders. Despite facing challenges such as gender stereotypes, women in this field are demonstrating strong leadership, multitasking abilities, and emotional intelligence, contributing to a more inclusive and diverse industry. To read more about this growing field for women, see this article in Forbes.

Learning from 19th Century Women Entrepreneurs

In a NPR “Marketplace” interview, Ruveyda Nur Gozen shared insights from her research on 19th-century female entrepreneurs, highlighting how she used historical data to uncover trends about women-owned businesses. Despite the challenges of limited data, her findings revealed that these pioneering women often started with less capital, focused on specific industries, and paid women higher wages, suggesting that boosting female entrepreneurship could significantly impact gender equality in today’s economy.

Navigating the Psychological Challenges of Entrepreneurship

Women entrepreneurs face unique challenges such as balancing multiple roles, battling sexism, and overcoming financial discrimination, which can intensify stress and mental health issues. To thrive, they should let go of harmful ego traits, embrace an abundance mindset, actively seek support, utilize resources tailored for women, establish healthy boundaries, and prioritize their overall well-being. Read more in this article on “How to Navigate Challenges as a Woman Entrepreneur” from Psychology Today.

Digital Entrepreneurship Helps Break the Glass Ceiling

The glass ceiling, a metaphor for the barrier hindering women’s advancement in business, remains a persistent challenge despite some individual successes. According to this opinion piece in Entrepreneur, rather than solely fighting against the system, there’s a call for women to unite, support each other, and overcome self-limiting beliefs. Digital entrepreneurship presents an opportunity for women to bypass traditional barriers and achieve success independently. Taking proactive steps, rather than just discussing the issue, is emphasized, with the hope that female empowerment will continue to grow and eventually dismantle the glass ceiling for future generations.

Documentary “Show Her The Money”

“Show Her The Money” is a documentary that addresses the plight of women entrepreneurs who aren’t getting their share of venture capital. The film follows four visionary founders as they endure uphill battles to turn their ideas into reality.  After an award-winning film festival run, the movie has embarked on a 50-city grassroots global tour. To learn more about how to catch a screening, see this link.

As an Entrepreneur, Are You Paying Yourself Correctly?

Many entrepreneurs, especially women, face challenges in paying themselves fair salaries, contributing to a gender pay gap in entrepreneurship. Despite efforts to address this issue, a survey reveals that female entrepreneurs, on average, earn 28% less than their male counterparts, emphasizing the need for business owners to ensure profitability and strategic financial planning to afford fair compensation for their work.

To read more about this, see this post by Abigail Ingram, executive director of the Polsky Exchange,  a 34,000-square-foot incubator space that leads the University of Chicago’s Polsky Center engagement with the South Side community through programs and initiatives that support local business owners and entrepreneurs.

Female Founders See Change In Entrepreneurial Landscape

According to this post on CNBC, the landscape for female entrepreneurs is evolving positively, with women accounting for nearly half of new business owners in recent years. Despite progress, a funding gap still exists, with only 2.1% of venture capital investments in the U.S. going to businesses founded solely by women in 2022. While the funding rate for women-owned businesses rose to 41% in 2022, challenges persist, including stereotypes and misconceptions. Founders emphasize the importance of confidence, saying no to opportunities that may have long-term costs, and valuing long-term goals over short-term gains. See the link to read more!

Black Women Have Increased Their Presence in Microbusinesses

According to this post in Black Enterprise, Black women entrepreneurs have significantly grown their presence in the microbusiness sector, owning 68% of the 15% of U.S. microbusinesses owned by Black entrepreneurs in 2023. Challenges such as marketing and access to capital persist, but initiatives, including grants and business acquisitions, are helping address the funding gap and overcome racial biases for Black women in entrepreneurship.

Women Are Biggest Contributors to Rise in New Businesses Between 2019 and 2023

The pandemic saw a remarkable increase in women-led entrepreneurship, with half of the new businesses formed during this time started by women, a substantial rise from 29% in 2019. Dissatisfaction with traditional workplaces and a desire for more flexibility led women to create small businesses and side hustles. Harvard Professor Claudia Goldin’s research suggests that women sought entrepreneurship due to the clash between demanding jobs and family responsibilities, pushing them to seek more control over their work-life balance. The upheaval caused by the pandemic accelerated this trend, prompting women, especially those handling more domestic duties, to explore entrepreneurship. To read more about this trend and its ripple effects, see this article from Technical.ly

Women Business Owners Are More Focused on Driving Good Employee Experiences

The HerMoney Media and Principal Financial Group’s 2023 State of Women survey of small and midsized business owners revealed significant differences between men and women in their economic outlook, financial confidence, and attitudes towards risk.

Women business owners express more caution about the U.S. economy but are optimistic about their personal financial situations compared to men. In addition, female business owners prioritize employee outcomes, emphasizing a positive work environment, mental health, and opportunities for advancement. They are less likely than men to offer financial wellness programs, often due to the belief that their businesses are too small to justify such programs.