October is National Women’s Small Business Month, which means it’s time to celebrate women-owned businesses everywhere, as well as the outstanding progress female entrepreneurs have made over the years.
According to the Small Business Administration women own 42% of businesses in the United States, women-owned businesses generate $1.9 trillion annually and, women of color account for 50% of female business owners. It’s also interesting to note that last year, more businesses were started by women than men.
The US Department of Labor says the impact of women-owned businesses on the U.S. economy is large and continues to grow. Women-owned businesses appear in every industry group but are more prevalent in the service sector. For example, in the child daycare industry, women own more than 660,000 businesses − 89% of the industry. Child daycare is one of 36 industries with more women-owned businesses than male-owned.
A Guidant Financial survey found that women tend to be more educated than men as well. Seventy-two percent of female business owners have a higher degree, compared to 64 percent of male small business owners. Thirty-eight percent more women have associate degrees than men, and 20 percent more have master’s degrees.
Darcy Boehme is a licensed realtor with Prestige Realty and a very active PNT networking partner. Darcy is heading up a committee in formation to create a women’s group within the PNT organization. Please reach out to Darcy via email at email@example.com if you are interested in being on that committee and/or if you would like to join the group which is set to launch in the first quarter of 2020.
Power Networking Team is a powerful small business networking group run by powerful small business owners. With active chapters in eight cities and more than 100 upcoming networking events on the calendar, you should check it out! It’s a perfect networking group for you to join if you are a startup or home-based business. For more information about Power Networking Team, visit the website at www.powernetworkingteam.com.