According to recent research carried out by the US Chamber Foundation, it was discovered that only 2 percent of women-owned businesses have ten or more employees. The study also shows that women entrepreneurs founded just 1.3 percent of these businesses.
Aside from the fact that many women entrepreneurs are strong-willed and confident to own a business, they are often relegated due to the hardships of creating, managing, and controlling the day-to-day operations of the establishment.
Notwithstanding, many women business owners have done a lot to overcome these challenges and have proven over time that becoming a successful woman entrepreneur is possible.
In this article, we shall discuss all you need to know to become a successful woman entrepreneur, giving you the necessary support and advice you deserve, especially on having access to business loans for women.
Female Entrepreneurship In The United States
It is not an unusual occurrence to have males at the helm of every activity that involves business and entrepreneurship. However, in recent years, that statistic has changed as we now have a fascinating amount of women entrepreneurs in the United States and the world at large.
These women have taken significant risks to succeed in what they do, and they have many stories to tell in their sojourn. As of 2020, the number of businesses that female entrepreneurs in the US have established is 12.3 million. And they generate a cumulative of up to $1.8 trillion in annual revenues. Although just about 25 percent of these women seek business finance, there are still many financing opportunities for them strongly supporting business loans for women.
Support For Women Entrepreneurs
As a giveback to the several values, the women entrepreneurs contribute to society, there is a great need to appreciate, empower and support them. Businesses owned by women daily make significant progress and actively influence other women to take charge and join the train.
To support these women entrepreneurs, listed below are a couple of things to put into consideration:
- Addressing the issues of stereotyping
- Teach and learn from each other on the best ways to build successful businesses under a thriving entrepreneurial ecosystem
- Transform the discussions of entrepreneurship into reality
Types Of Financial Support For Women-Owned Business—Public & Private
There is a wide range of financial support for women-owned businesses. They range from government-procured to non-government-procured—in both public and private space respectively—which include:
- Eileen Fisher Women-owned Business Grant Program
- Amber Grant
- Cartier Women’s Initiative Award
- Global Funds for Women
- Women Entrepreneurs Finance Initiative (We-fi)
- Open Meadows Foundation
- International Women’s Media Foundation (IWMF).
Top Female Successful Businesses
Over time, the female gender has proven to do more than society has thought about them, bringing innovations and creating solutions to society’s problems. Here are the top female successful businesses that are currently fast paving the way for others:
- VIPKID: A platform that connects teachers with children around the world for English immersion online classes.
- Nova Credit: A cross-border reporting agency.
- Good: A surplus food management platform that uses technology to reduce food wastage.
- Glossier: A company that sells direct-to-consumer beauty products in retail
- Zume Pizza: A Pizza cooking, delivery, and ingredient sourcing company.
- Zola: A wedding planning and reinvented registry experience company.
- 23andMe: A human genome research company that assists customers in understanding what their DNA says about their health.
- Land: Established as a personalized career path platform for women.
- Zum: A transport service company that provides safe, reliable, and efficient child transport for school districts and busy families.
- ThirdLove: A fast-growing bra company that helps women shop for bras.
- Nuritas: Established to manage and improve human health.
- Starlin Bank: Provides a mobile banking application and a debit card, which help users manage their finances.
The women of this era are innovative and hardworking. They are a bone to contend with when it comes to establishing business entrepreneurship. The only need is to support them with business finance to either begin or reinforce their businesses.
If you are a woman business owner, you can check business loans for women to see ways to assess finance for your business.