Celebrate female small business owners this October.
October is National Women’s Small Business Month. “National Women’s Small Business Month is a time to recognize and applaud the talented, dedicated and driven women whose entrepreneurial spirit helps drive our nation’s economy forward,” said Carla Harris, Chair of the National Women’s Business Council.
Women own 38 percent of businesses in the United States, as of last year, according to American Express’ 2016 State of Women-Owned Businesses Report. With over 11.3 million female-owned businesses in the country, how are women transforming the American small business community?
The future continues to look promising for female small business owners. Women entrepreneurs are feeling confident that women will “see big cracks in the glass ceiling over the next 20 years,” according to the 2017 Bank of America Women Business Owner Spotlight report. Sixty-six percent of those surveyed predict more women-owned small businesses than men-owned in the next two decades.
Three out of five female small business owners work over 40 hours per week. Despite demanding and long hours, 52 percent of women small business owners describe their work as interesting, and 48 percent describe their business as fulfilling.
According to the 2017 Kauffman Index of Startup Activity, 40 percent of new entrepreneurs in the United States are women. If you’re a female entrepreneur looking to launch or grow your business, check out these grant opportunities to help you make an impact. In addition to grants, there are a wide variety of loans available for female entrepreneurs. NFIB has teamed up with Kabbage to offer members a fast and fully automated online process for small businesses to access funding with the flexibility they need.
The massive strides women are making in small business ownership call for celebration. Use this month to show your appreciation for female small business owners that you admire.