Traditionally, Men dominated all business. Over the past two decades, the face of business ownership has begun to shift. Women have broken the mold and women business ownership is up by 114 percent. Today, women owned businesses account for 39% of all existing business within the United States. That means that a company is more than 50% women owned.
Women express themselves with new and innovative business ideas. Women are passionate and put that passion into their business. Many women owned small businesses start out as a hobby or a way to make extra money. This is not always true as women are also building large corporations.
Many women get their start-up capital via government grants and loans designed for minorities. For example, the SBA helps women entrepreneurs by connecting them with funding and training opportunities. Many women start their companies without utilizing any resources that are available to them.
It is still highly competitive and difficult for women owned businesses to land contracts. To counteract this and to help women, there is now certification stating that your business is more than 50% owned by women. This levels the field and helps certified businesses land government and private contracts more easily. There are two types of women owned business certification. The first type is designed for all women, The second type is designed for economically disadvantaged women wanting to start a business. Both are available to women owned businesses or to women who want to start a business to help them succeed in their new venture.
Women business owners have many tools at their disposal, from government programs that offer grants and loans to certification that helps women owned businesses land contracts. Another tool in the female arsenal is networking. There are so many networking groups, many of them local, that support women owned businesses. These women network and support each other helping each other solve problems and grow together.
There are so many familiar and powerful women in business today. Oprah Winfrey comes to mind when thinking about women who have turned their passion into big business. She is worth 2.6 billion dollars. Ariana Huffington of the Huffington post has forged her way through media to become one of the largest women entrepreneurs. She sold the Huffington Post to AOL but started her company Thrive Global which kept her on the map as one of the top 100 influential business owners.
For the woman thinking about starting a business and entering into the new field of women business ownership, they will want to start with the 100 page business plan in the event they need to go outside their own resources to get more capital. Don’t be afraid to think big. Find a good successful female mentor to help you grow your business. Many women help other women in the field of business ownership. Don’t be afraid to think outside of the box and take that step towards success.