Monday, September 22nd marks an important day in the business world as we celebrate Business Women’s Day and contemplate the work still to be done for gender equity.
If you’re lucky enough to be a female solopreneur or small business owner, congratulations! You’re already making it all happen. But, do others know? For example, if your title is communicated as CEO or President, it isn’t clear that it’s YOUR business. Case in point: a recent female-founder client who started a data analytics firm wasn’t communicating this on her site or other public pages such as LinkedIn. I helped her change that by adding “Founder” to her profile, her email signature, her website, etc.
So, what exactly is Business Women’s Day?
First observed in 1949 it began as a celebration of the founding of the American Business Women’s Association (ABWA) to support women in the workforce. Since then, it has evolved into a day that celebrates all women, especially those forging their own paths.
Women have long been a driving force in business, from launching startups to leading multinational corporations, yet their accomplishments often go unsung.
Stats to ponder:
- There are about 14.5 million women-owned businesses in the US (roughly 39–40% of all businesses)
- From 2019 to 2023, women-owned businesses outpaced men-owned ones in growth rate by a large margin—nearly 94% higher growth rate (likely because of the repercussions of the pandemic)
- In 2024, women founded nearly 49% of all new businesses, up from about 29% in 2019
Yet, when it comes to funding:
- Women founders & co‑founders got 22.8‑27.8% of total U.S. VC deals in 2023
- Companies with at least one female founder secured a record 27.8% of total U.S. VC deal value in 2023
- When looking at women founders/co‑founders, that share was about 22.8% of total VC dollars
- Startups founded exclusively by women get a much smaller slice
- Of note: All‑female founding teams got only about 2% of VC dollars in the U.S. in 2022
- In 2023, that figure stayed low: all‑female founded companies raised about $3.2 billion out of the total VC markets (versus over $30‑40B in mixed or male‑teams), which represents a single‑digit percent of total VC activity
- Percentage of VC‐backed startups with at least one woman founder Among U.S. companies receiving VC backing since 2005, about 9.7% had at least one female founder
How to celebrate Business Women’s Day:
The most and significant way to support women’s businesses is to seek them out and support (i.e., pay for their products and services!) women-owned businesses in all parts of your life, not just in business (your doctor, car mechanic, veterinarian, general contractor, accountant, beauty products, clothing designers, consultants, dentist, lawyer, favorite restaurant chef, etc.)
Other ways to consider non-financial support is to:
- Mentor younger women to cultivate the next generation of women leaders
- Join organizations that bolster women such as Women Who Startup, Female Entrepreneur Association, Ladies Get Paid, and Boss Babe
- Subscribe to publications that celebrate women such as MPW (Fortune’s Most Powerful Women) one that I’ve been subscribing to for years and Provoked, a new one I recently found and am enjoying their content
So, to all the women who lead and inspire and to those who support them (especially financially!), Happy Business Women’s Day!