Updated: Nov 24, 2022
Women entrepreneurs inspire us all with their true grit, passion to show the world and themselves just what creative innovations are possible. A women entrepreneur maybe a single mother or parent caretaker, juggle multiple roles, but remains determined to succeed despite all odds. Women entrepreneurs often make due with less access to capital funding.
Today, there's nearly 12.5 Million women entrepreneurs in America. These inspirational strong women makeup the nearly 40% who run their startup business from home.
A women entrepreneur often provides beauty products, health fitness, gourmet food or restaurant, retail store, education or business services. Data show historically, the startup women owned business generates less than $100,000 annually.
Today, empowered women now lead over 65% of all new startup businesses in America reports SocialContentService.com And nearly 55% of all corporations have women leaders in key decision making positions.
Among the group of women entrepreneurs, Black or African American women account for nearly 75% of all new startup businesses. A black women entrepreneur in most cases juggles work, kids, family care and challenging social barriers. African American women entrepreneurs are generally ages 35 - 55 years old with 65% being single mothers.
Often the black women entrepreneur starts the business as a side hustle for extra income initially needing a more stable job to supplement health insurance needs but eventually the side hustle can evolve into full time work and women entrepreneur may work at multiple income streams i.e. several small businesses simultaneously.
Historically, annual sales at businesses owned by black women are two times smaller than the next-lowest demographic group, Hispanic women, and close to five times smaller than for all women-owned businesses, according to the Federal Reserve. The average annual sales for businesses owned by black women was $27,752 in 2012 (the most recent figures available), compared to $143,731 for all women and $170,587 for white women.
Much of the capital used to fund women entrepreneurship comes from tapping into personal savings, credit cards and 401k retirement accounts due to lack of access to tradition banking.
Self learning and less formal training with varying degrees of experimentation that result in success and failures. In this way, given a consistent, determined hard work ethic, some women entrepreneurs ultimately succeed. But there's no set rules on how it all plays out.
SocialContentService.com helps women entrepreneurs from every background and income level with mentoring and professional business development solutions. To get started checkout our services below.
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Feel free connect to get started building your own business or just want to chat about an idea. SocialContentService.com provides business analysis, social media marketing, data analytics, website design, content writing and business development from start-up to IPO in a variety of market sectors. Our diverse team of highly skilled mentors offer over 25 years of experience.