October is Women’s Small Business Month! A month to celebrate and support all of the women run business in our communities. Before we get into ways to support these businesses, let’s look at some statistics first.
- In the United States, more than 12.3 businesses are female owned, and they generate $1.8 trillion in sales each year.**
- They account for 39% of all privately held firms.*
- They employ over 9 Million people.*
- Only 26 women are CEO’s of Fortune 500 companies**
- Organizations that have women in leadership roles achieve 90% retention rates**
- Last year 1,821 businesses were started everyday by women**
As you can see, those are some staggering statistics and women contribute significantly to the US Economy! The number of female run businesses and women in leadership positions at large public companies are only expected to grow, predicting higher revenue, retention, employee satisfaction and employment numbers down the road.
So what are some ways that we can support the women run businesses both in our communities and nationwide?
First and foremost, by buying their products and using their services. Whether it’s a local boutique or a big tech firm run by a woman such as Bumble, by investing in these businesses we can help them grow, be successful and continue to inspire young females to follow in their footsteps.
Other, non-monetary ways to support women run businesses include:
Supporting them on social media by following their pages and engaging with their content
Learning about the women run businesses that you care about and using word of mouth advertising with friends and family
Leaving great reviews if you’ve had a good experience with the business or it’s owner in the past
Inspiring young girls to dream big and pursue corporate leadership roles or entrepreneurship of their own one day
This October, let’s celebrate all of the women in our communities who work tirelessly to bring great products and services to our daily lives!
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.