The fact is, women entrepreneurs are a total powerhouse! 20% of million-dollar business in the United States are owned by and predominantly operated by women. Women-owned business in the United States employed nearly 9 million people and generated $1.7 trillion in sales last year! If those numbers are not convincing enough, here are six reasons why the world needs more women entrepreneurs!
In Today's business and education landscape, women entrepreneurs are 5 percent more likely to start innovative businesses than their male counterparts. Women are also outshining their male counterparts in terms of education. While a college degree is by no means a requirement to become a business owner, women were 16 percent more like than male respondents to have earned a post-high school education. What does that mean for businesses and entrepreneurial ventures? Women are leading the charge!
Reason #1: Women are emotional, yes, but they tend to be more honest about the business.
If a guy generalizes, women tend to dive into the details and get specific. The value of this approach in business is not often calculated, but the reality is, the direct approach women use to solve problems saves time, energy and effort.
Reason #2: Women are not afraid to admit that they don't know everything.
Guys tend to be more over-confident, especially in business and tech, but that can also lead to slower progress because they are not willing to ask for help when needed. Women, on the other hand, have less ego attached to not knowing something, and are more willing to express this, often leading to a faster resolution.
Reason #3: Women are relationship-driven
Women are intrinsically better at relationship-building. This is also, hands-down, the most important part of building a business.
Reason #4: Women are level headed and make smart business decisions
Companies with female CEOs often see more job stability, better communication and the ability to stretch a budget to do more. All of these things are priceless when starting a new business. Women are also more likely to lead by example and handle crisis calmly — traits any employee can appreciate.
Reason #5: Women are creative
1 in 5 women say they lack the technical expertise that their business requires, compared to 1 in 20 men. 25 percent of women say they don't have the network needed to build a business. Despite all of this, when you look at the numbers, women entrepreneurs, on average, take home twice as much as men. What does that mean? Women's inherent creativity is invaluable when it comes to creating a niche and launching new ideas.
Reason #6: Women get shit done
While you were stalling, she was executing!
