Women's Entrepreneurial Landscape Is Changing While They Fight for their Dreams

While women have historically faced additional challenges, some female founders say the landscape is changing for the better.  

According to a report from Gusto, more women are starting their own businesses, accounting for nearly half of new entrepreneurs in recent years.

In 2020, women made up 47% of new business owners, a significant jump from 29% in 2019, the report showed. That figure has held near that level — at 49% in 2021 and 47% in 2022 — signaling a stable trend rather than a one-off surge, the report said.

Learn how women are fighting for their dreams and making them reality here.

Women's Representation in the Workforce Is Not Keeping Pace

Here's a look at the common myths about women’s workplace experiences and career advancement, the specific biases and barriers faced by Asian, Black, Latina, and LGBTQ+ women and women with disabilities, and clear solutions that organizations can implement to make meaningful progress toward gender equality.  That’s according to the latest Women in the Workplace report from McKinsey, in partnership with LeanIn.Org, it's ninth year.

Upshot:  Women are more ambitious than ever, and workplace flexibility is fueling them. Yet despite some hard-fought gains, women’s representation is not keeping pace.

Hence, why more and more women are starting their own businesses. Controlling your destiny is a good thing.

Making Success Possible For Women Entrepreneurs

Black women are entering entrepreneurship at rates that have not been seen before. Corporate America as well as government and philanthropic entities have taken note of this trend, and there is more support available for women founders than before. In general, women-owned businesses are on the rise, and much of America’s current startup boom is due to women starting businesses.

How can we collectively make even more women entrepreneurs successful?  

Maija Renko, professor and Coleman Chair of Entrepreneurship in the Department of Management and Entrepreneurship at DePaul University's Richard H. Driehaus College of Business, says "Appreciation for women entrepreneurs starts by talking about the very things their businesses provide—not focusing on old systems and structures that exclude them. Chicago can be the city that leads this conversation and innovates solutions that make success possible for even more women entrepreneurs."

Read the entire Opinion piece in Crain's Chicago Business:  How to Support Women Entrepreneurs

Related to women entrepreneurs, support and Chicago, next week we unveil a game changing new app invented and launched by two Chicago women entrepreneurs.  Stay tuned because we are about to make your shopping experience a breeze via the #cartdropmethod.

Be Your Own Boss

Oftentimes there are mixed messages sent about women starting businesses.  It varies from how they struggle, to what they lack and why it's so hard for a woman to be a boss.  Forget all those negative notions.  Why not focus on celebrating the successes of a woman running a business?

If we are going to boost the number of women starting up their own business we must instill a sense of confidence amongst women and make it clear that they have every opportunity to succeed. Part of this is simply recognizing that entrepreneurship comes in different shapes and sizes.

Read the entire article:  Championing Women in Business
 
Photo courtesy:  John Fischer

She Wants Freedom; She Got it Through Business Ownership

For those who don't already know this:  The number of women-owned businesses is on the rise!  Learn more about this trend and about women business owners who have found success (including Tina Fey, pictured, who seems to do her own thing and do it exceptionally well).

First though:

The latest U.S. Census data shows that women start businesses at one-and-a-half times the national rate and are estimated to own just over 8.1 million enterprises. Those businesses generate nearly $1.3 trillion in revenue and employ 7.7 million Americans, according to the recently released American Express OPEN State of Women-Owned Business Report.

"She's the boss:  More women are starting their own businesses"

Advice For Young Women Entrepreneurs

A Q&A with Maria Fiorini Ramirez (pictured), founder of the global economic consulting firm Maria Fiorini Ramirez, Inc — conducted by Reuters.

One key question:

Would you like to see more women starting businesses?

I think women are starting more businesses than men. In part, because they have to. It’s necessary to have a two income couple these days. The internet has unleashed infinite possibilities. But it is an individual choice. Not everybody can do it. Although countries like Japan are realizing that they have to make it attractive to keep women in the workforce.

Visit her company:
Maria Fiorini Ramirez, Inc.

Agree? Disagree? We welcome your thoughts!

Tips For Women Starting a Business

Fellow Chicagoan and superb businesswoman Mellody Hobson (President of Ariel Investments), offers up some tips for starting a business. Although this piece via ABC was published September 2005, the tips are still relevant.