It is About Time

The Rise of the Woman Entrepreneur

"Entrepreneur" is a pronoun whose definition is a person who organizes and operates a business or business and takes on greater than normal financial risks.

Istarted this article with “Ever since I became an entrepreneur.” But then, I realized I have been an entrepreneur in my heart my entire life!

From when I was a young girl, I was always cooking up ideas about solutions I could provide the world with to create better lives for everyone. Thinking up these “inventions” or “ideas” challenges my creative side, and I still love it. When I daydream, I think of ways that small businesses can significantly impact society’s betterment.

Do you ever have daydreams like that? You may be an entrepreneur. And honestly, there is no better place in the workforce to be right now.

“The Rise of the Woman Entrepreneur”

According to Jeanne Coughlin, author of the book, “The Rise of the Woman Entrepreneur.”

“Nearly 40% percent of all U.S. businesses are women-owned, and by 2025 the Census Bureau projects it will rise to 55%. The trend is new, dating back just to the 1980s, but its impact is already felt. Not only are women achieving empowerment and bettering their lives in many different ways, but the beneficial effect on the economic well-being of the entire country is also clear.”

That’s right! - to be exact, Women’s Business Ownership Act was enacted in 1988! I was 28 years old, and I did not even know I could not legally start my own business without a man’s permission! Holy cow, how things have changedand I must say for the better.

Women are Uniquely Qualified to Corner the Entrepreneurial Market

Years ago, it was unheard of for a woman to own her own business, The Women’s Business Ownership Act of 1988 allowed women to get a business loan without a male co-signer.

Yes, you read that correctly.

The good news was that things were changing even before that.

The women-owned businesses started to take off in 1972, which is most likely why there was a “Women’s Business Ownership Act.”

Women entrepreneurs grew by 48% year-over-year, outpacing their male counterparts by 22%. While women aged 25-34 still account for the largest group of female entrepreneurs, we also see strong growth amongst women aged 1824 (up 73%) and women over 65 (up 76%)

This sounds like a grassroots movement of motivated women!

Entrepreneurs Know How to Be Loaners - But Does Not Serve Them

At least, at first, entrepreneurs will be working primarily independently. Unless they take on a business partner, which comes with its own set of risks and challenges that we won’t go into here.

This situation is where your business can make you lonely and unrelatable to the friends and family in your life.

You are literally in every department of your business, from marketing to customer service to accounting. It is all you, baby.

This “doing it on your own” mentality inspired me to create the incredible community of WESOS.

Women in business supporting and gathering with other women in business. Not to sell to each other but to support each other, share resources, and be authentic about the challenges we face in our dayto-day business operations.

I often say that I love my girlfriend, sisters, and family. Still, not everyone understands the life of an entrepreneur like other entrepreneurs do.

Shop Small, Shop Local! Together

We Support our Communities and our Small Businesses

When entrepreneurs start successful businesses, they create jobs contributing to widespread prosperity. Unlike large companies, which often divert profits to centralized corporate headquarters in distant cities, small businesses keep local dollars close to home.

Successful small businesses create jobs, and those jobs pay neighborhood workers, who spend their paychecks in other local businesses.

This reinvestment creates a positive feedback loop: as small businesses thrive, their workers thrive, as well, and their increased spending paves the way so that a more significant number of small businesses can hire and pay additional workers. Local businesses often prioritize supporting local endeavors and organizations, such as school clubs and sporting teams. These sponsorships are win-win opportunities, providing funding for area groups while giving publicity to the businesses involved.

Seeking a Better Work-Life Balance

According to Smart Mom Gig (Smartmomgig.com),

“The ability to have financial stability and security is a right we all deserve. So, too, should the ability to work using our professional skills during a timeframe that best suits our real lives. Working 9-5 is archaic post-COVID and forces some to make unfathomable choices. If we change the model and meet women where they need to be, then there is no need to lose their valuable talents.”

Working from home is the most prevalent among entrepreneurial moms because they find that entrepreneurship allows for greater flexibility in their schedule and, in turn, for their family constraints and obligations.

And doesn’t that make the most sense? One thing I know for sure is a woman’s ability to multitask. It has just been in the past. We did not have the ways or means to have women working from home. Now we have the ability for women to work wherever they are in the world.

We have companies that need happy, healthy people with incredible skills, but they are just on a different schedule. They can get the job done, but not during the hours of 9 to 5.

Not to mention, One New York Enterprise Report survey found that small business owners work twice as much as regular employees. It also found that 33% of small business owners reported working more than 50 hours per week, and 25% said they work more than 60 hours weekly.

3 Traits Every Successful Entrepreneur Must Have, According to the ExpertsSuccessful Entrepreneurs are Resilient,

Confident, and Innovative.

All of these traits are not business skills but life skills. Everyone can be an entrepreneur if they are determined to bring their idea to life!

So many women could be successful entrepreneurs if given the right tools and support to build their confidence. I often say that no one can make you successful or “empower” you! You empower yourself! You need the tools and resources - and, most importantly, the community to support you to your greatest success.

The rise of the woman entrepreneur is a new revolution of women - women with the confidence and the resources to chase their dreams if they only get started. It’s no longer just your personal wish to own your own business. No matter how small, it is a social responsibility to show your light to the world and make a difference in our community.