Women in Business 2021
Happy International Women’s Day!
A day we get to celebrate all of the important women in our lives (yourself included if you fall into that category!) and all their great contributions to society.
In celebration of women who have pushed through that glass ceiling and established themselves as major players in spaces never before thought possible, I thought I would do a little bit of research on where women currently stand in today’s small business workforce.
31% of small business or franchise owners are women
With the need for flexible scheduled, entrepreneurship seems to be a good fit for many women trying to balance work and home life. In addition, those frustrated with lack of opportunity or support in corporate life went searching for a way to be their own boss. While the entrepreneur life isn’t easy, it allows for work hours to vary from the “norm” to better fit school schedules, home needs and bed times.
Women are highly educated
34% of women hold a Bachelors degree, 27% a Masters and 11% a Doctorate. In addition 11% hold an Associates degree and 20% a High School diploma or GED.
They’ve been around a while
Interestingly, 30% of women owned business have been around for 10 years or more. 15% have been around for six-nine years, 13% four-five years and 20% two-three years.
They’ve been seriously impacted by Covid
With school closures and shut downs, women business owners in particular are feeling the impacts. 40% of women business owners say they feel very unconfident about their business in a post-Covid world.
They know how to adapt
Despite the uncertainty of their futures in business, women have proven especially good at adapting to the circumstances. 9% of businesses have pivoted their business model and 12% said they actually saw an increase in revenue in 2020.
They have triumphed
At the end of the day, 76% of women business owners report being somewhat or very happy. Despite all the challenges of 2020, women business owners have triumphed.