“Women’s entrepreneurship is growing in exciting and unique ways. Women are starting 1,200 new businesses per day – inventing products, solving problems, creating jobs and supporting their communities. The impact of women is undeniable. This level of growth is unprecedented. The dialogue is growing, as are the number of resources and supports for women. And we have hit a great milestone of 10 million women-owned businesses in the country.”
However, even with all those strides forward women are still only commanding a small portion of startup funding available. There is still a huge about of improvement that can take place.
The report by NWBC called 10 Million Strong – The Tipping Point for Women’s Entrepreneurship has a number of recommendations on where those improvements can take place including:
- investors and lenders should look at industry experience vs. start-up experience because research has found that industry experience is a better indicator for women-owned businesses of firm survival
- there should be greater provisions for affordable childcare would alleviate the prohibitive expense for families
- the definition of women-owned businesses should be broadened to capture “women-led” businesses, incorporating women that are running and leading businesses, but fall short of the 51% ownership requirements for policy and program benefits, particularly federal procurement programs.
- For the comprehensive list of recommendations, sneak to pages 32-24 of the 10 Million Strong report.
This Annual Report covering 2015 also includes:
- notable trends in women’s entrepreneurship
- summary of the Council’s research portfolio
- highlights from the Council’s engagement efforts and other accomplishments, as well as the contributions of other key stakeholders
- recommendations to improve the business climate for women