It’s quite easy to launch a business in the US, but that doesn’t mean that every company is successful. While millions of women have launched their own companies, most will not create significant wealth for themselves and their families.
In fact, less than 20% of female business owners generate annual revenues over $50,000 or higher, and only 1.9% get their company to the million-dollar mark.
Here are the facts about what it takes to be a female owner, who they are, and what could be holding them back. This is a multi-part blog series called 25 Surprising Challenges and Opportunities for Women-Owned Businesses,
Below is a summary of the topics that are covered in this series.
I: Characteristics of Female Business Owners
1. Significant Increase in Female Business Ownership
2. The Strong Impact of Female-Owned Businesses
3. Female-Owned Companies Launch Faster Than Average
4. Women of Color are Launching More Companies
5. Half of All Female-Owned Businesses are Founded by Women of Color
6. Majority of Female Owners are Gen X and Boomers
7. Women Excel at Multitasking and Creativity, Struggle with Confidence and Risk-Taking
II: The Challenges of Being a Female Business Owner
8. Marketing, Capital, and Recruitment
9. Decline in Women-Owned and Black & Latinx/Hispanic Owned Businesses Due to Pandemic
10. Impacted but Not Stopped by COVID
11. Women-Owned Enterprises Smaller and Have Lower Profit
12. Females Less Optimistic About Future Success
III: Financial Facts About Women-Owned Business
13. Women-Owned Companies See Lower Revenue
14. High Initial Revenue for Female-Owned Firms In 3 Industries
15. Women Have Less Access to Venture Capital
16. Female Owned Million-Dollar Companies are Rare
17. Women-Owned Employers Saw Significant Decrease in Revenue
18. Women-Owned Companies Earn Less Revenue Than Male-Owned
IV: Important Ways Female Owners Can Plan for the Future
19. Women are More Likely to Become Caregivers
20. Women Owners Aren’t Sure When They Can Retire
21. Women are Leading Family-Owned Business
22. Most Business Owners (Including Women) Do Not Create a Succession Plan
23. Female Owners More Likely Than Men to Retain Financial Advisor
24. Female Owners Achieve Higher Income and Net Worth Than Employees
25. Women Want to Increase Their Business Value
Curious about what your business could look like if you had higher profit margins? Find out more about what we do.
If you’re ready to talk, schedule a call so we can discuss your situation.