Infographic: Women in Business Statistics
Female Entrepreneurs Gaining Speed
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There’s no better way to celebrate Women’s History Month than by acknowledging the contribution women make to the nation’s economy.
Whether they support their families with a mix of full-time work and domestic duties or forego a salary to stay at home and make the majority of purchasing decisions, women are a significant driver of the U.S. economic engine. In this CreditDonkey infographic, we focus on the impact of women who are entrepreneurs.
Some 7.8 million women-owned businesses generate $1.2 trillion in annual sales. And each of these companies employs an average of 8.3 workers. Even though fewer women than men own their own businesses, the number of women-owned businesses skyrocketed by 44% from 1997 through 2007.
Women-Owned Businesses: The Start of a New Club
Stats show that women-owned businesses are spread among a variety of industries, demonstrating that women are breaking through societal conceptions of past decades and making a name for themselves in industries that were once dominated by the “Good Old Boys Club,” such as the professional, scientific, and technical services (PST services) industry. In fact, there are 1.1 million women-owned businesses reported to be part of the PST services industry alone.
Women Business Owners: How to Break Your Own Glass Ceiling
Women business owners have been smart to enter into industries that are experiencing tremendous growth, such as health care. However, despite their wise choices, women in positions of power are still facing all-too-familiar challenges that have dogged their gender for decades.
If you are thinking about starting your own business or are new to the role of top leader, here is a breakdown of the common societal and cultural pressures you may face, along with some tips on how to overcome these challenges.
Business Ideas for Women: How to Start Your Own Business
It doesn't take much to start a home business; in fact, the SBA reports that 39% of business owners with no employees started their business with less than $5,000 in startup capital. If you’re looking for information on how to obtain that startup capital, we have another infographic that you may find helpful: Where Home Businesses Go for Startup Dough.
Many small business owners use credit cards to get their businesses off the ground. Visit our comparison chart of credit cards for small businesses to see which one could fit your needs, as you’ll need a new way to manage your cash flow.
Besides some business know-how, you’ll need a niche. Consider your talents and your interests, and see if they’re sellable. Tired of the full-time grind and wanting more flexibility, many women in recent years have uncovered talents they didn’t know they had – such as marketable ideas for baby accessories – and have become entrepreneurs. If you play your cards right, you could follow in their footsteps and find yourself leading a company someday.
(Research and Writing by Kelly; Graphic Design by Boris; Additional Writing by Meghan; Editing by Maria and Sarah)
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