This month we recognize the accomplishments of female entrepreneurs. October was established as National Women’s Small Business Month to celebrate women business owners. As a female small business owner, I'm looking for ways to celebrate other women who own small businesses. And as a new working mom, I want my daughter to grow up in a world where women entrepreneurs are respected and acknowledged for their accomplishments.
According to the SBA’s Office of Women’s Business Ownership,
Today, women employ more than 9.2 million people and generate $1.7 trillion in revenue. Last year, 1,821 women-owned businesses were launched every day.
The 2019 State of Women-Owned Businesses Report, which is published annually by American Express, says:
- 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.
5 Ways You Can Support Female Entrepreneurs
1. Buy Women Owned
Patronize women-owned businesses both in your town and online in October during National Women’s Small Business Month and year-round. Hire women-owned businesses to provide services for you personally and for your business.
2. Make a Referral
People do business with businesses recommended by their family, friends and colleagues. Refer a women-owned business to a colleague or family member.
3. Like, Follow and Share
Use your social media to support women-owned small businesses on social media by following their sites and subscribing to their blogs. Some popular #hashtags to use on social media to support women small business owners are:
4. 5-Star Thumbs-Up
Give a Google, Yelp or Facebook online review to a women-owned business that you patronize.
5. Be a Mentor
Mentor a female business owner. Contact your local Chamber of Commerce or professional organization and ask them to connect you with a woman entrepreneur who needs advise.
Networking with other women business owners is important to grow your business as well as grow your skills. MacManda Media is located in Delray Beach Florida, and I belong to several local, state and national organizations were I meet other business owners and we exchange ideas, resources - and make important connections and referrals.
How do you support female business owners - during National Women’s Small Business Month, and every day?