According to an annual report based on U.S. Census Bureau data, over the past five years:
The number of women-owned businesses increased 21%, while all businesses increased only 9%
Total employment by women-owned businesses rose 8%, while for all businesses the increase was far lower at 1.8%
Total revenue for women-owned businesses also rose slightly above all businesses: 21% compared to 20% respectively
The growth of women entrepreneurship has been steadily increasing towards better conditions and higher wages, but many have seen a halt in progress due to the emergence of the global COVID-19 pandemic. Many small businesses are on the verge of shutting their doors permanently while other cling to their networks for support and survival.
In our current climate of crisis and upheaval, women of color in leadership roles have stepped up and brought forth change where they can, showing strength and resilience to meet these new challenges head on. As leaders, they are representatives of their cause, and serve as inspiration and strength in the eyes of the next generation.
In fact, more detailed studies over the years have shown the success rate or resilient women leadership. It has been shown that:
Women of color account for 89% (1,625) of the new businesses opened every day over the past year. (source)
Women-owned businesses continue to fuel the economy and now represent 42% of all businesses — nearly 13 million — employing 9.4 million workers and generating revenue of $1.9 trillion. (source)
At the end of 2018, companies with strong female leadership generated a return on equity of 10.1% per year versus 7.4% for those without. (source)
By January 2020, women held 20 percent or more of the board seats in over half of the 2014 – 2019 IPO companies. (source)
On August 13, 2020 these resilient women leaders will further discuss their journeys, philosophies, and how they've lead through change at our panel: Minority Women Leading Through Change.
Register today to learn more about them and their work below: