Surge in Women’s Entrepreneurship Pushes Changes In Business

Women’s entrepreneurship has surged dramatically in recent years, with thousands of new women-owned businesses thriving across various industries. The momentum started between 2019 and 2020 when an unprecedented number of women entrepreneurs entered the workforce, shifting the previously male-dominated landscape. In 2018-2019, only 28% of entrepreneurs were women; this figure nearly doubled to 50% by 2020 and has remained steady since.

New women-owned businesses are emerging across healthcare, retail, technology, and more, driven by a variety of factors. The Wells Fargo report highlights that women now hold significant footholds in multiple industries, contributing substantially to the economy. Since the pandemic, women-owned businesses with 50 or more employees have generated $1.3 trillion in aggregate revenue.

Internationally, women entrepreneurs are also making significant strides. Firms like Arieli Capital report unprecedented numbers of women in their entrepreneurial circles. This global trend indicates a widespread shift towards female-led business initiatives.

The pandemic played a crucial role in this shift. As traditional workplaces crumbled, women saw new opportunities to create flexible work environments. The Great Resignation also contributed, as individuals reassessed their career paths and values. New support systems, financing options, and increased visibility in media further empowered women to pursue entrepreneurship.

Government organizations and numerous events, summits, and conferences have risen to support women entrepreneurs, providing resources, training, and networking opportunities.