Female-owned businesses contribute significantly to the US economy. In fact, in 2017, more than 11.6 million firms were owned by women, employing 9 million people and generating $1.7 trillion in sales. Moreover, 39% of all privately-owned companies are owned by women. Surprising? Perhaps. But, this portion is only increasing, with women dominating more, and more, in the once male-dominated world of entrepreneurship. This is particularly evident among personal care businesses such as home care agencies, group homes, and adult-day-like businesses.
Women have been starting businesses at a higher rate than men for the last 20 years according to an article by Forbes.Several reasons exist for this surge, but the following should be considered more:
Business ownership allows for more freedom. For you, this may mean the freedom to, creatively, build your own vision, or perhaps, just setting your own working hours, so you can pick your kids up from school. It may also entail taking a vacation and getting back, when you decide to get back. But, the best bit is that you can decide.
Women are, increasingly, becoming the primary bread winners in many households.Indeed, business ownership can allow for you to become the first woman, in your family, to start a business, and really build something amazing. Creating something to pass to the next generation can potentially impact your family’s lives in a positive way.You would be providing job opportunities and a name for yourself, to be proud of.
Owning your own business comes with a high amount of risk, but the rewards can be great. Have you ever been laid off work? Or perhaps, know someone who has? With business ownership comes security that you won’t get as a regular employee – you’re the one running the show. You’re the one steering the company, day-to-day.