Saturday, July 01, 2023

Take Advantage of Every Funding Opportunity, Including SBA Loans

Although female entrepreneurs and women-owned businesses have been on the rise in the country, the disparities — especially for minority women — within the American workforce are still stark compared to male and male and female-owned businesses. Here are some statistics on women-owned businesses: 

  • 22 percent of employer firms were owned by women.
  • 48 percent of nonemployer firms — meaning the business had no employees — are owned by women.
  • Women-owned businesses are more likely to rely on funds from personal sources, such as family and friends and savings.
  • 32 percent of women-owned businesses were zero to two years old versus 16 percent of male-owned businesses. 
  • Women-owned businesses make up 42 percent of all businesses in the U.S.
  • Globally, women account for roughly one in three of all high-growth entrepreneurs.

In 2022, 63 percent of women entrepreneurs surveyed said they expect revenue to increase in the upcoming year and 47 percent plan to expand their business. 

Learn more about how the SBA helps women overcome financial barriers and fulfill their dreams, making it a good place to begin your search for funding.

No comments: