Women's Business Blog

Why Women Entrepreneurs Are The Engine In The U.S. Economy

Posted by Vicki Donlan on Sun, Jan 27, 2013 @ 05:01 AM

The facts speak for themselves - women in America love entrepreneurship and realize that anything is possible when they make the decision to launch a business.Infographic for women entrepreneurship

Every time a woman starts a new business, she becomes a role model for the next generation of women to do the same. As a woman, and now business coach, who started working in the 1970s, started small businesses in the 1980s and then a newspaper profiling women in business in 1998, I can tell you women may not get their fair share of venture funds, but they start businesses with as much determination as any man.

As this graph indicates, women also are perfectly comfortable in operating businesses in every industry. Just because the front pages of most manufacturing and construction periodicals don't profile women doesn't mean they aren't succeeding in these industries.

Women entrepreneurs need to reach out to other women in their industries as mentors. As the research demonstrates one of the most pressing problems for many women in business is the feeling of not being taken seriously. When you make sure to spend time with other women in your field of work, you are able to escape this issue.

Seeking out industry groups, especially women-only industry groups, helps you to bounce ideas off others who walk in your shoes. Of course, that does not mean you should segregate yourself from other mixed gendered groups. Sometimes being one of only a few women in the room can be a benefit - particularly if you are looking for a male mentor.

The fact is the U.S. economy depends on every small business - woman-owned or male-owned - that employs people, generates cash flow, and keeps business moving. Every flower shop, hair salon, nail salon, cafe, boutique, social media firm, real estate office, coaching business, insurance company, dating service, event planning company, wine and liquor mart, newspaper, magazine and health and fitness consultancy all matter!

So often I hear from clients that they have just decided to turn their hobby (knowledge) into a business and they are really not sure if they need a business plan because - well, you know, it's not really a business, is it? Of course, it is!

As soon as you make the decision to offer a product or service for money you have established a business. Don't fool yourself - I know a woman who turned a hobby into a $1M - it can happen to you. Her $1M business created jobs, generated tax revenue, keep vendors in business and provided customers with a need that hadn't been met in the past. Her courage and determination got other women motivated to go for it too! That's women helping other women succeed. That's women entrepreneurs boosting the U.S. economy.

When one woman wins all women win! When one woman starts a new venture other women are motivated to follow. Our daughters and granddaughters are watching. It is up to this generation of women to make the road just a little less bumpy and a little less scary for the next.

So, if you ar ready to start a business and launch your dream job OR buy a business and start using your time and energy controlling your own destiny in your own small business -- email me to schedule a time to chat vicki@vickidonlan.com

No charge to chat -- all I want to do is launch one more woman-owned business to get this economy rolling again -- the ball is in your court.

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Topics: women entrepreneurs, women in business, women