Category: Gender Dynamics

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.

Best States for Women-Owned Businesses

A report issued by Merchant Maverick looked at the top ten states in the US for women-owned businesses. The top of the list included Colorado (ranking at the to of the list for the third year in a row), Texas, Florida, Washington, California, Virginia, Arizona, North Carolina, Wyoming, and Illinois. To evaluate the best states for women-led startups, Merchant Maverick considered items like total venture capital in the past five years invested in women-led startups, percent of employer firms led by women, percent of employees at women-led firms, percent of women self-employed in their own business, and the average income of women self-employed in their own business. To read more about the findings, click here.

Challenges Faced by AAPI Women Entrepreneurs in the Pandemic Era

The COVID pandemic has worsened existing challenges for Asian American, Native Hawaiian, and Pacific Islander (AAPI) women entrepreneurs. Many AAPI-owned businesses have been hit hard, especially in industries heavily affected by the pandemic.

Language barriers and a lack of banking relationships have limited their access to loans and capital. AAPI women face a wage gap and have shouldered increased caregiving responsibilities. Despite these obstacles, AAPI women entrepreneurs remain resilient and determined to overcome the challenges they face. See this April 2023 post from CNBC to read more.

Supporting Women-Owned Businesses

This article in Entrepreneur offers five practical ways to support women-owned businesses. These include shopping at women-owned businesses to support owners, employees, and the local economy; spreading the word about these businesses through social media and personal networks; attending events organized by women-owned businesses to show support and foster community; writing positive reviews to boost visibility and influence potential customers; and partnering with women-owned businesses to collaborate and mutually benefit. These actions can bring about significant changes in behavior and contribute to empowering women entrepreneurs while promoting economic growth and diversity in the marketplace.

Tips for Women Entrepreneurs

This article from AllBusiness provides advice for women entrepreneurs from successful female business owners. The piece includes 21 tips that cover a range of topics such as cultivating storytelling skills, bringing a fresh perspective, finding purpose, taking control, avoiding self-discrimination, hiring passionate staff, charging appropriately for services, and surrounding oneself with supportive people. Many of the tips emphasize the importance of amplifying women’s unique strengths, including communication, empathy, and problem-solving abilities, in building successful businesses.

White House Announces New Resources to Support Women Small Businesses Owners

According to this press release from the White House, the Biden Administration is working through the Small Business Administration (SBA) to expand the Women Business Centers (WBC) network. The goal is to bring the total number of WBCs to 160 centers across the country. WBCs assist women entrepreneurs through training, mentoring, business development, and financing opportunities. Read more about the White House plans here.

Which Dialogue Are You Listening To?

There is a piece just posted today in Fast Company entitled “The mindset shift you need in order to stop your inner voice from sabotaging you”.

In the article, author Lydia Fenet reflects on how “Imposter Syndrome” can often sneak up on us in our professional lives. Specifically she makes the important point of pausing to consider whether you are listening to what colleagues are actually saying or if you are listening to what you *think* they are saying. Read the article for the example – great content to ponder on your entrepreneurial journey.

Five Women Business Owners to Watch!

According to a recent survey by human resources software company Gusto, in 2020 and 2021, startups led by women accounted for 49 percent of all new ventures, compared to just 28 percent in 2019. Despite this growth, only 2.1 percent of venture capital funding went to women-led businesses in 2022. This is despite the fact that women-led companies, according to a Boston Consulting Group study, return 150 percent more on average for every dollar invested in them than businesses led by men.

This article in Newsweek profiles five women founders who are making strides in varied industries such as footwear, healthcare, food and beverage, tabletop games and technology. Their stories inspire while also offering useful tips on how to navigate the initial hurdles of entrepreneurship.

Working at the World’s 15 Most Female-friendly Companies

Great Place to Work  is a global leader in analyzing and reporting on workplace culture. They partnered with Fortune magazine to publish a study that analyzed feedback from over a half a million women to determine the most female-friendly companies (organizations with > 1,000 employees). Number one on the list was Hilton and was surprisingly followed by many companies in the financial and tech sectors. Perhaps positive change is finally underfoot! This article in CEO magazine shares the list in greater detail.