As of 2015, there were roughly 9.5 million businesses owned and run by women in the Unites States alone. To put that number into perspective, businesses owned and run by women are generating nearly $1.5 trillion annually, and providing jobs to 7.9 million people. Perhaps the most staggering part of these statistics is that over the past decade alone, the number of women-owned businesses increased by over 50 percent, and private firms owned by women increased by almost 75 percent – and there is no sign of the trend slowing down. Knowing all of this, we have put together business resources for women entrepreneurs to further increase these statistics and successes.
Where To Start?
Before picking a specific business or putting together a plan, it is wise to have a strong foundation of business sources for women at our disposal. There are organizations and communities out there to help both emerging and existing women entrepreneurs get access to business forms, advice and templates for business plans, and even advice and directories for women entrepreneurs. There are even online communities to assist women business owners launch first-time operations, as well as managerial advice and finance tips.
Businesses owned by women bring in over $1.5 trillion every year, and have created roughly eight million jobs in the United States alone. Over 30 percent of all businesses in the United States are owned by women, and that number is growing. Many women-owned businesses are franchises, because they are affordable, streamlined, and have the built-in brand recognition that other businesses take years to establish. However, there are business opportunities for women entrepreneurs that go above and beyond franchises, by eliminating the royalties and ongoing fees. But you should decide for yourself which business model is right for you, before taking the plunge.
Business Training For Women Entrepreneurs
No one is born with the knowledge of how to run a business. However, there are numerous sources to get the skills and training necessary to launch, maintain, and grow a successful business. Women entrepreneurs can get access to online training for everything from hiring employees to logistics, inventory, marketing, interviewing, accounting, and maintaining a healthy cash flow.
“What do I want to do?” It’s perhaps the hardest question to answer, then talking about starting a business. For emerging women business owners, the answer exists somewhere between strengths and passion.
No one wants to commit to launching a business if they do not feel completely passionate about it. Similarly, there is no point in launching a business if the industry is outside of their wheelhouse.
Play to your strengths, and find something you love to do!
Consulting covers a wide array of roles across every industry. Businesses are always seeking new ways to run more smoothly and cut wasteful spending. As such, women entrepreneurs with a strong background in particular areas will offer their services to other businesses – lending their experience and knowledge to help complete internal projects. Consultancy is on the rise, and shows no sign of slowing in the near future. Businesses understand that by hiring consultants today, much more money can be saved farther down the line.
Whether discussing work, social, political, educational, or legal issues, firms and independent practices owned and run by women entrepreneurs have been growing in number over the past decade. If you have a background in law, or experience in a particular field, becoming an advocate for other women can lend strength and a voice to those who are made to feel small.
People desire individual motivation and tailored guidance to improving their lives. Sometimes, it can be as simple as organization. Other times, people need help with developing relationships and improving their standing in their careers. Life coaches are personal consultants, of sorts, and women are quickly taking the field by handling clients on a one-on-one basis or in small groups, and even generating healthy revenue by speaking in public and holding small classes.
The franchise business model has outgrown its “super sized” stereotype, and there are franchises available for women entrepreneurs who want to maximize their profitability while keeping costs minimized. What sets franchises apart from launching a business from scratch is the “turn key” approach. Franchises provide the independence women entrepreneur’s want, while also offering a built-in support network, branding, and marketing. Franchises span almost every industry – from travel consulting to pest control, electronics, interior design, computer repair, clothing, and more.
The possibilities are nearly limitless in this digital age, and women business owners are embracing all the Internet has to offer for reaching large audiences domestically and abroad. From handmade jewelry to IT and networking support, women entrepreneurs are finding untapped markets online and generating unbelievable profits.
Women tired of the inequity in salaries at major corporations are embracing financial independence and problems solving by entering the field of commercial finance. The philosophy behind commercial finance is simple: Businesses are always looking for money, and financiers are always looking for good investment opportunities. Commercial finance professionals act as the medium to bring these two parties together in agreement, and generate a sizable profit in the process. Commercial finance runs the gamut from helping new businesses get the funding they need to launch successfully, all the way up to real estate development and the construction of large resort hotels. With nearly limitless earning potential and the ability to work from home on one’s own time, women are making great inroads into the world of commercial finance.
Networks For Women Entrepreneurs
Women business owners need not fight an uphill battle when launching and growing their companies. From being able to finding startup capital to dealing with business taxes, and even how to source supplies – there are a number of networks for professional women entrepreneurs. This form of networking allows women to bounce ideas off each other and learn from other established women business owners about how to solve the challenges facing entrepreneurs in today’s economic landscape.
In addition to online communities and networks, there are more immediate places women business owners can look for assistance. Almost every city in the United States has a small business organization, where women entrepreneurs can meet one another and trade knowledge and experience to help people overcome challenges. Additionally, there are sometimes tax incentives on a state, county, and even city level for women business owners to open up shop and create jobs in a given area.
If you are ready to take the plunge and become one of the rising numbers of successful women business owners, there is not better time to start than right now. Women are launching businesses across all industries – from law to healthcare, commercial finance, manufacturing, IT, hospitality, construction, and many others. With women taking business success to new levels and tapping into new markets – not to mention creating jobs – there is no reason to explore possibilities and embrace financial independence. We encourage you to utilize the information in this article and the resources linked above to get you started on the path to success with a business of your very own.
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