The Importance of Women Owned Businesses

We all know that having many female entrepreneurs and female-run businesses in the working world is beneficial to women. Now, studies are beginning to show that not only are these businesswomen helping to advance themselves and other members of their gender, but they also benefit the rest of society.

According to the National Women’s Business Council, women own more than 9.1 million U.S. businesses, and generated $1.4 trillion in sales in 2014. This revenue translates into the creation or maintenance of 23 million jobs. That’s 16% of all American jobs!

In addition, these women-led businesses are the fasted growing types of small businesses in the nation. That’s a serious motivation to seek out a female-owned business to work for or do business with, no matter what your gender.

Optimism among women entrepreneurs and business owners is also high (a confident 81%) when they are asked about the opportunities that lie ahead for them. Beth Solomon and Diane Tomb of CNBC speculate that this confidence could be “perseverance grounded in years of parents raising their daughters to believe that just because something hasn't been done by a woman yet, need not mean that it will never be done by a female.” Whatever the reason is (and there are probably many reasons), women today are confident in the success of their business ventures. This confidence is important for the economy and to the consumer.

According to the National Women’s Business Council, if women-owned businesses in the U.S. were their own country, they would have the 5th largest GDP in the world, ahead of France, the United Kingdom, and Italy.

This data is impossible to ignore; women-owned businesses have a tremendous impact on our country, whether the majority of the population is aware or not. The thousands of women who start their own businesses every year are doing themselves and other women in their area and the nation a service. By bolstering the economy, adding value to their community, and increasing jobs, they are helping everyone in the country in many small yet significant ways. Hopefully this data will continue to reflect positive growth for female owned businesses.

Over to you! Why do you think women entrepreneurs and women owned businesses are important? Post your thoughts in the comment section below.