Celebrating Women in Small Business
October is National Women’s Small Business Month. We’re celebrating women-owned businesses everywhere, as well as the outstanding progress female entrepreneurs have made over the years!
Did you know?
-In 1972, women only owned 4.6% of all businesses in the United States. As of 2019, women owned 42% of all businesses
-Women-owned businesses grew 21% from 2014 to 2019, and businesses owned by women of color grew at double that rate. Numbers for black women entrepreneurs grew the fastest, with an increase of 50%. In fact, as of 2019, women of color accounted for 50% of all women who owned businesses.
-There are nearly 13 million women-owned businesses in the United States, employing 9.4 million workers and generating revenue of $1.9 trillion.
You can read more about these facts and a host of information in the The 2019 State of Women-Owned Businesses Report, which is published annually by American Express. Definitely worth a full read.
Celebrating Women in Business
Additionally, if you’re looking for other ways to celebrate National Women’s Small Business Month, October is a great time to network. Make a special effort to connect with women in your field and build meaningful connections. For women, utilizing established local business groups can help women in various fields find like-minded peers.
Larger organizations like the National Association of Women Business Owners, Women’s Business Enterprise National Council, National Association for Female Executives, American Business Women’s Association and National Women’s Business Council all host events and help connect women with similar business interests. You may also want to reach out to your local branch of the U.S. Chamber of Commerce, even though it isn’t a female-specific organization, as it is the largest small business advocacy group in the country, and attending a few local events may help you meet other female entrepreneurs.
Supporting Women Owned Small Business
In the meantime, check out some of our blog features highlighting women owned businesses MWSBF has recently helped expand: