Female Entrepreneurs Are a Major Driver of Business Startup Growth

Americans have started more new businesses last year than ever since data collection started and female entrepreneurs are a major driver of that growth.

New data from my company, Gusto, shows that women started half of all new businesses in 2023. This is compared to a mere 29% in 2019. Women-led businesses have proven uniquely resilient to tough economic conditions like persistently high inflation and interest rates, and they generated $2.7 trillion in revenue last year. 

For women, flexibility is the No. 1 reason for starting a business.  They want to have the freedom to decide how they work.

At Escape From Corporate America (EFCA), we have known this to be true since 2003 on the flexibility and freedom parts of Gusto's findings.  Here's what I said in 2003 when EFCA was launched:

"They [women] want freedom, flexibility, recognition, more money, and opportunities to leave a legacy -- all the things they once thought they would find within corporations."

Read the full article to learn how female entrepreneurs are a major driver of business startup growth.

Women Entrepreneurs Are On the Rise

International Women's Day (IWD), coming up on Tuesday, March 8, 2022, has been a time to recognize achievements made by women and to recommit to the fight for equality — socially, politically, and economically. 

There have been slow and steady gains in the workplace. But during the pandemic, it appears to be accelerating a generational mind shift for women.  Greater work-life flexibility and personal control of their career has become the No. 1 issue for today’s working women.

Here's what that means:  Out with Corporate America and in with entrepreneurship, which allows us to do what we love, generate revenue, care for and spend time with our families, and contribute to the health and well-being of our communities.

Read on about the wave of women entrepreneurs arising during the pandemic.