• 30 September 2022
• Tiffany Carey

National Women's Small Business Month: Five Ways Women Entrepreneurs are Leading the Charge in 2022

Women small-business founders are paving the path to the future with their many innovative companies, giving rise to new markets and industries. The U.S. Small Business Administration states that women own 42% of businesses in the U.S. that generate $1.9 trillion annually. Today, there are more than 13 million woman-owned businesses.

October is National Women's Small Business Month, and we salute the women entrepreneurs who continue to exemplify ingenuity and grit as they pave the way for future generations of women business owners. In homage to women entrepreneurs, let’s explore the five ways their businesses are making a difference for themselves and others.

1. Women Business Owners Are Being More Vocal

Woman-owned organizations are growing faster than the rest of the economy, and women are becoming more vocal about their contribution. Veteran collectives such as the Small Business Administration and Equality Now have worked for decades to amplify women’s rights and equality. However, in recent years, newer organizations like Time’s Up and Rise Up have been helping to give gender equality in the workplace a more prominent and permanent seat at the table.

Women business leaders like Arianna Huffington, Oprah Winfrey, and Jamie Kern Lima are just a few of the hundreds of women who use their influence to effectuate change in the landscape of women-owned businesses. Through TED talks, live summits, podcasts, and bestselling books, they help tomorrow’s women entrepreneurs blaze a trail forward.

2. Women Entrepreneurs Make Sustainability Significant

Women entrepreneurs are building companies that place sustainability at their core. A sustainable business considers more than just profit. It is environmentally conscious and actively contributes to the health of the structure within which it operates. The growth of women-owned sustainable businesses reflects the trend that they are more willing to make lifestyle changes for a healthier economy and planet and reduce poverty.

3. Women are Investing in Women-Owned Businesses

“Women supporting women” isn’t just an Instagramable quote; it’s a movement. A recent report from PitchBook states women make up 15% of general partners at venture capital firms, a 25% increase from two years prior. This increase directly correlates with the spike in investments in women-founded companies. Additionally, women of influence are actively contributing to women-led businesses and sharing news of those investments to encourage others to do the same. 

4. Job Seekers Want to Work for Women-Founded Businesses

Women founders are often adamant that culture equals long-term success and therefore incorporate characteristics of a strong work/life balance into their businesses. They are more likely to align their employees with their mission, creating a sense of ownership and pride. In general, women-founded companies tend to provide healthy work environments and the opportunity to make a difference in society through the work being done.

5. Women Entrepreneurs Empower Other Women to Become Leaders

The traits of a good leader include honesty, integrity, and compassion. Studies show that women excel in these areas while also providing a similar perspective when mentoring other women as they navigate their careers, develop new skills, and learn to think more outside-the-box when building their businesses.

With continued perseverance and support, the number of women small-business owners will continue to grow, creating more jobs and fueling the economy for generations to come.