New Data Shows Growth in Women Entrepreneurs up 48%; Outpacing Male Counterparts by Over 20%

Women Entrepreneurs
October 29, 2022
56 / 100

Women in every region of the globe are emerging from the relative obscurity of the home and family spheres to assume positions of authority in fields that were traditionally seen as being solely the purview of males. The tides are turning in a positive direction at this point. The wave of feminism that started one hundred years ago during the suffrage marches for women’s right to vote in western countries has grown into a roaring tidal of women’s empowerment in the 21st century. Women are becoming more influential in all spheres of society, including the political sphere, the economic sphere, and the social sphere. They have achieved success in a variety of fields, including athletics, space exploration, politics, the arts, the sciences, education, and entrepreneurship.

Incfile analysis

Incfile, a market leader in providing services for the establishment of online businesses and startups, has now published fresh statistics demonstrating the expansion of the number of women who start their businesses throughout the United States. The data examines more than 330,000 different startup companies and evaluates their growth between January 1, 2020, and December 31, 2021. The number of women who started businesses increased by 48% over the previous year, exceeding the growth of male entrepreneurs by a factor of 22. Although women between the ages of 25 and 34 continue to make up the biggest group of female entrepreneurs, we also find a significant increase among women between the ages of 18 and 24 (up 73%), as well as among women over the age of 65 (up 76%).

“There’s no doubt that we’ve seen great growth in entrepreneurship since the start of the epidemic and The Great Resignation,” stated Dustin Ray, Chief Growth Officer and Co-CEO of Incfile. “The Great Resignation” refers to the mass resignation of employees in response to the virus. “It is wonderful to see such strong and ongoing development among women entrepreneurs in particular. These women are getting to work and carving out their niche; some are beginning new firms, while others are converting side hustles into full-time enterprises. And do you know what it is that we hear the most frequently?

According to Alyssa Abrahamson, Nutritional Therapist and Holistic Wellness Coach at Wellness HQ, “I decided to leap into entrepreneurship through my healing journey because I realized that I could help other women just like me transform both their health and their life.” This realization led to her decision to start her own business. “It turned out to be the wisest choice I’ve ever made. Since I started my own company, I’ve been able to devote all of my attention to assisting other people. I have more time for my pursuits and can concentrate on having a full and active life.”

Women in business: The percentage of women in senior management positions  increased in 2021 worldwide - CEOWORLD magazine

What are the secrets to a woman’s success?

Education

Education has been a major force in bringing about greater gender equality. As a result of the democratization of education, women today have access to the information and training necessary to assume roles and responsibilities that were formerly thought to be beyond their capabilities.

Releasing the grasp that patriarchy has on society

Local cultures in today’s contemporary, worldwide world are continually exposed to values and points of view that are strikingly distinct from their own, even though this exposure cannot be avoided. This has resulted in the weakening of patriarchy in societies in which men were traditionally seen as being superior to women in all aspects.

The Ascendance of Feminism

As a result of the Me Too movement, which has resulted in a seismic shift toward greater gender equality over the last decade, women are experiencing a sense of empowerment and confidence that allows them to assert themselves and call out the injustices that have been committed against them.

Merit over gender

There has been a modification made to the standards that are used to judge professional performance. Women are increasingly seen as being better qualified to manage and drive businesses with a human and ethical touch, and merit is now being prioritized above gender for the first time.

Help for the Family

Assistance to relatives It is helpful for women to have both male and female mentors when they transition from their job as a housewife to that of a career professional.

Building an equitable future

Not only is it beneficial for society to give women equal standing, but it is also beneficial for the economy. According to the findings of a worldwide study conducted by McKinsey, the employment of women in occupations that are equivalent to those held by males may contribute as much as 28 trillion dollars to the global economy by the year 2025. Although this may remain a pipe dream, for the time being, practical improvements may be brought about immediately to assure a higher presence of women in the entrepreneurial world. Even though it’s not a great leap, it will help women take a significant step toward achieving equality in society and the future.

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