Celebrating Contributions of Women Entrepreneurs to the U.S. Economy

After October's Women’s Small Business Month—we pause to celebrate the contributions of women entrepreneurs to the U.S. economy. From gender biases to limited access to capital, the challenges women business owners face are many.

Structural changes are needed to address many of these barriers, but on a personal level, remembering your why, investing in continuous learning, protecting your brand, extending grace, and reframing fear may provide fuel to push forward.  

Here are 5 tips for aspiring women entrepreneurs.  Let's level the playing field.

Sara Blakely Has Always Been Her Own Bellwether

Spanx Founder Sara Blakely has always been her own bellwether. Blakely launched Sneex, a “luxury hybrid stiletto” which retails between $395 and $595.  

“I own stilettos and I own sneakers already, but I don’t own the combination of the two. As a consumer I wanted the combination of the two,” Blakely says. For her, the shoe is the intermediary between dressy and casual. (She cites Sneex as ideal for the classic jeans-and-a-nice-top outfit formula.) 

She goes on to say, “I designed them to be able to wear every day, but 100% women will embrace them and wear them formally. Women are already wearing regular sneakers in formalwear, so I think that that is going to happen for sure."

Full details here.

Illinois Women Business Owners Who Take on the World

(L-R)  Tami Lange and Amy Mills

(L-R)  Yvette Laugier, Valarie King-Bailey, Amy Mill & Diamond Young

©Global Small Business Forum 2024, Chicago, 10/18/24

I [Laurel Delaney] just finished hosting the 9th Annual Global Small Business Forum in Chicago which is all about showcasing fantastic business owners who rock the world with their international expansion efforts.  At the forum, each panelist shared their story – challenges and successes – for what it takes to go beyond borders with a business.

Discover these 4 women business owners.  Shop their products and use their services.  

1. Tami Lange, Founder, Save the Girls
2. Amy Mills, President, 17th Street Barbecue
3. Yvette Laugier, Founder, YL Advisory
4. Valarie King-Bailey, CEO, OnShore Technology Group

Above are just a few of the photos from the event capturing some of the women entrepreneurs who have escaped from corporate America and run their own successful businesses. 👏

The event was sponsored by Associated Bank (Diamond Young is Assistant VP, FX at AB) and hosted by Foley & Lardner.

Observations From India: Functions of a Woman Entrepreneur

BIG news :-)!  Women entrepreneurs are not different from the concept of entrepreneur, all the concept characteristics and functions are applicable to women entrepreneurs. 

The role of women in family and society is changing very fast – thank goodness. The days when women were typically expected to look after household activities have changed in various social aspects like equal treatment to women, no discrimination between males and females allowing for equal opportunities to work in any field.  Slowly these changes have empowered woman to become more competitive and also encouraged her to start a business.

The article was written in 2017.  It also includes some traits of women entrepreneurs (additional articles).  Different perspective due to India origin.  Very academic.  

Faith-Filled Women Business Owners

According to the Minority Christian Women Entrepreneurs Network (MCWEN), women of color account for 47 percent of all women-owned businesses — around 5.8 million in total — employing over 2.2 million people and generating $386.6 billion in revenue.

More and more, entrepreneurs are stepping into the business world, driven not just by a passion for their products and services but also by a deep sense of faith. These “faith-filled” business owners see their work as a means to serve their communities, live out their beliefs and build a legacy for their families.

Learn about a few here.

Women Entrepreneurs Hit a Funding Wall

When Oriana Papin-Zoghbi was looking for venture capital funding to develop a new type of test for ovarian cancer, she found her pitch did best with women investors. “They were able to resonate with the problem we are trying to solve,” she said.

Avestria Ventures, a fund focused on women-founded start-ups, led an early investment of $5 million in Ms. Papin-Zoghbi’s company, AOA Dx. And two years later, Good Growth Capital, a firm founded by women, led an additional $17 million investment.

Raising the next round of funds is expected to be difficult.  It's not the first time that women entrepreneurs hit a funding wall.

Read the entire article at The New York Times (might require subscription).

Grants for American Women Entrepreneurs and Small Businesses

GrantWatch is celebrating American women entrepreneurs! 

Women in leadership bring unique strengths to the table like fostering collaboration and driving innovation. Decades of research show that when women lead, businesses are profitable and teams are collaborative. 

They inspire greater fairness and dedication and create environments where everyone can thrive. Despite the obstacles they face, women continue to break barriers and rise in leadership roles across politics, education, and corporate sectors.

Here is a listing of currently available GrantWatch Women and Small Business grants.