Celebrating National Women’s Small Business Month: Empowering and Honoring Female Entrepreneurs
October was not just about falling leaves and pumpkin spice lattes; it was also National Women’s Small Business Month–a time to recognize women in business and their incredible ability to drive innovation, foster community, and create lasting change. Throughout the month, we celebrated Women’s Small Business Month by shining a spotlight on remarkable women, many of whom risked it all to dive head-first into entrepreneurship and the vital role they play in our economy.
The Rise of Women Entrepreneurs
Over the past few decades, women have made significant strides as entrepreneurs globally. They’ve proven they can successfully start and run businesses and excel across a host of industries—even when faced with unprecedented challenges courtesy of a global pandemic. In fact, women-owned businesses are one of the fastest-growing segments of the small business landscape. According to the National Women’s Business Council, as of 2021, nearly 13 million women-owned businesses in the United States generate more than $1.8 trillion in revenue.
Empowering Women in Business
The impact of women business owners reaches far beyond the communities in which they operate. Empowering women business owners on their journey, including helping them address the persistent barriers to women’s entrepreneurship, business growth, and long-term business sustainability, helps ensure they thrive long-term in this ever-changing economic landscape. Specifically, we can help them by providing access to essential business-building tools and online financial resources, including:
- Access to Capital: A primary challenge women entrepreneurs face is spending power and access to capital. When turning business ideas into reality, it is critical to have the money you need when you need it–whether you’re a startup looking to purchase inventory or launch a marketing campaign, or a growing business wishing to expand inventory and product offerings, invest in new technology, or cover day-to-day expenses.
- Online Financial Tools and Resources: In today’s digital age, having access to the right financial tools and resources at your fingertips is crucial for success—especially for women-owned businesses. Alternative responsible lenders can fill the gaps left by traditional lenders and help small businesses grow and thrive by offering a wide range of online financial products and services that make managing finances and operations more accessible and efficient for women entrepreneurs. One differentiated approach to accessing funds is through a tailored funding experience built on transparency, flexibility, and support at every step.
- Education and Support: As a responsible lender, it is imperative we do all we can to help women entrepreneurs make informed decisions and build profitable businesses. Providing these small businesses with specialized education tools, including online workshops, mentoring, and other valuable business-building resources, helps them navigate the complexities of entrepreneurship and set themselves up for ongoing success.
The Impact of Women-Owned Small Businesses
Women-owned businesses don’t just benefit the women running them; they have a far-reaching impact on the economy and society as a whole. Here are a few of the reasons why women entrepreneurs are continuing to make a significant impact:
- Job Creation: Women-owned businesses create jobs and contribute to the employment landscape. We can help reduce unemployment rates and strengthen our communities by supporting women entrepreneurs.
- Diversity and Innovation: Diversity in business is essential for fostering innovation and creativity. Women entrepreneurs bring unique perspectives and ideas, leading to innovative solutions and products that benefit us all.
- Role Models: Successful women entrepreneurs serve as role models for future generations of female business leaders. When young girls see women achieving their dreams and running their businesses, they are inspired to do the same.
- Community Support: Women-owned businesses are often deeply connected to their communities. They frequently support local causes and participate in community-building initiatives, making them integral parts of the neighborhoods they serve.
- Economic Growth: The success of women-owned businesses contributes to economic growth and stability. As these businesses expand, they fuel economic prosperity for the regions in which they operate.
Supporting Women-Owned Small Businesses Throughout the Year
Supporting women-owned businesses is more than just a one-month endeavor. Here are a few ways companies and individuals can make an impact:
- Shop Local: Choose to support women-owned businesses in your community whenever possible. By doing so, you are contributing to the growth and success of women entrepreneurs.
- Mentorship: If you are an experienced entrepreneur, consider becoming a mentor to a budding woman business owner. Sharing your knowledge and experience can make a world of difference to someone just starting their journey.
- Networking: Attend events and join networks that support women in business. These platforms allow women entrepreneurs to connect, share insights, and form valuable partnerships.
- Encourage Young Women: Encourage girls and young women to pursue their entrepreneurial dreams and believe in themselves. We can shape a future filled with successful women entrepreneurs by instilling confidence and ambition.
Women’s Small Business Month was the perfect time to celebrate the countless women entrepreneurs who have made remarkable contributions to our society. These women have shattered glass ceilings, overcome obstacles, and turned their dreams into reality. Whether running a small boutique, launching a tech startup, or managing a thriving e-commerce store, they inspire and drive change.
We also wanted to honor women entrepreneurs who have overcome and continue to face unique challenges, especially in traditionally male-dominated industries. These women exemplify resilience, determination, and the power of pursuing one’s dreams. Their success stories encourage others to follow in their footsteps and defy the odds.
Join us in celebrating Women’s Small Business Month and beyond by supporting women entrepreneurs through your patronage, mentorship, or investment outside of the month of October. Together, we can create a more inclusive and prosperous future where women continue breaking barriers, inspiring change, and shaping the business world.