In this article, we have featured Women Entrepreneurs Statistics 2024. Prior to approximately fifty years ago, the concept of a woman running her own business from the helm would have been considered audacious at best.
Women business owners first began their ascent to prominence during a time when prejudice and gender inequality were elements working against them.
In order to break free from the restrictions that society places on them, a lot of women have created their own enterprises.
Women who are the owners of their own businesses have the ability to achieve financial independence without depending on the current system.
According to the information collected on female entrepreneurs over the past 20 years, the number of women who run their own businesses has climbed by 114% over that time period.
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Interesting Facts About Women Entrepreneurship
- In Ghana, women hold more than 46 percent of the country’s privately held companies.
- 36% of all small enterprises in the world are owned by women.
- At 1.3 million, the number of women-owned businesses in California is higher than in any other state in the United States.
- There are almost 860,000 businesses in Texas that are run by women.
- More than 1,200 new enterprises are started by women every single day in the United States.
- About one and a half trillion dollars’ worth of income is generated by companies run by women.
- There is a 5% annual increase in the number of firms owned by women.
- Over thirty percent of businesses in Uganda and Vietnam are owned and operated by women.
Women entrepreneurs around the world
In emerging countries, there has also been a growth in the number of women who have started their own businesses.
According to the World Bank’s Female Entrepreneurship Resource Point, there is at least one female owner in between 8 and 10 million small and medium-sized businesses across the developing world.
A little less than a third of women around the world are self-employed in some type of informal work, with the agricultural industry being the exception.
This is typically done on a modest scale, from home, and with a concentration on retail and service-related industries.
According to the World Bank, being able to work from home enables women to “satisfy competing demands for their time.” This entails “a disproportionate share of the obligations of housework and childcare,” among other things.
Lack of access to financial resources and legal inequities, such as limitations on women’s ability to own or manage the property, are two of the challenges that women business owners in developing economies must contend with.
According to data compiled by the World Bank, women own only one out of every three firms on a global scale.
Women are working fewer hours
According to data compiled from around the world, women appear to continue to be hit harder by the pandemic than males.
Since the height of the pandemic, women have lost a significantly greater number of working hours than men have, according to the World Economic Forum’s newly released Global Gender Gap Report 2022.
Responsibilities such as child rearing and caregiving have played a role in keeping women out of the workforce. Women have also been more negatively affected than men by the loss of jobs in industries such as the hotel and retail sectors.
As a direct consequence of this, the percentage of working-age women has decreased, dropping from 60.1% in the 2021 edition of the Forum’s 146-country study to 51.7% in this year’s report.
Women Entrepreneurs Statistics
1. The year 1972 marked the beginning of women starting their own enterprises.
(Work Done by AEO)
Due to the fact that the United States Census Bureau identified this year as the year connected to female entrepreneurship, it was a pivotal year for women. The conflict that has been going on for almost half a century has had a significant influence on economies all across the world.
The United States was home to more than 400,000 female-owned enterprises during that time period. There are already over 13 million women-owned enterprises in the United States, and the number continues to grow. Additionally, every day in the United States, 1,817 new enterprises are started by women.
2. According to the figures on female entrepreneurship for the year 2022, women make up only 22.4% of all small business owners in the United States.
The findings of the survey conducted by Small Business Trends indicate that 23.7% of female business owners have been in operation for more than ten years. In addition, 49.1% of those who participated in the survey mentioned that their companies have been operational for little more than five years.
3. According to the figures compiled on women entrepreneurs, over 65 percent of the most recent allocations will be beneficial to women entrepreneurs in low-income nations.
Over 15,000 women-owned firms will receive a combined total of $49.3 million in funding thanks to the Women Entrepreneurs Finance Initiative. It is anticipated that the money will also mobilize around 350 million dollars worth of additional public and private sector resources.
Because of three rounds of finance, which added up to approximately $300 million in total allocations, the number of nations in which support programs for women-led enterprises will shortly increase to 61.
4. companies that are owned by women According to the figures, 17% of black women already operate their own businesses or are in the process of beginning their own companies.
(HBR and CNBC)
According to recent studies, the rate at which black women establish enterprises is far higher than that of any other racial group. In addition, there are an astonishingly high number of black women in the United States who have just launched new enterprises or are in the midst of doing so.
To put this into context, barely ten percent of white women and fifteen percent of white males run or start new firms.
5. Only 3% of black women own and operate established businesses.
According to the data available on female company owners, black women had a lower chance of owning established companies. Despite the high rate at which these women start firms, they only control a very tiny percentage of established businesses. This research provides some insight into potential challenges that women of color face while trying to maintain a business.
6. An estimated 13.6% of the entire female population of working age in the United States engages in some form of entrepreneurial activity.
The rate of female entrepreneurship has decreased by three percent since 2020, bringing it back down to the level it was at in 2019, according to the most recent Women Entrepreneurs Statistics on businesses owned by women.
In spite of this, the percentage of women who owned their own businesses rose to 35.6% in 2021, which was a 2% gain over the previous year. In addition, the percentage of women who hold top leadership positions in businesses has increased from 39.8% to 41%.
7. When comparing male and female entrepreneurs, Women Entrepreneurs Statistics show that just four out of 47 economies exhibit greater TEA rates for female entrepreneurs than for male entrepreneurs.
(School of the Babson)
Morocco, Kazakhstan, Spain, and the Dominican Republic are the four countries with economies in which the overall rate of female entrepreneurship activity is higher than the rate of male entrepreneurial activity. In addition to this, there are five other economies in which one woman launches a new firm for every two men (Norway, Egypt, Turkey, and United Arab Emirates, and Japan).
Conclusion: Women Entrepreneurs Statistics
Within the context of this essay, a significant amount of data relating to the entrepreneurial experiences of women has been presented today.
We hope that everything has been both interesting and helpful to you and that you have enjoyed your time here. If you are a marketer, you have access to a wealth of data that may be utilized for your marketing efforts here.
If you are a woman who owns a business, you know more about women entrepreneurs all over the world, the obstacles they face, and the resources that can be of assistance to you when you start your own company.
There is not a single valid argument against the launch of a brand-new company run by women in 2022.
It would appear that the gender difference in the establishment of new firms by men and women has begun to close during the course of the previous decade.
The racial divide that existed between women of minority and non-minority backgrounds who started their own enterprises has also shrunk in recent years.
The number of enterprises started by African-American women is currently higher than the number of firms started by African-American males. This trend is expected to continue.
The Latina/Hispanic female group is also ramping up the pace in terms of creating enterprises that are owned and operated by women.
Only African-American women have had faster development than this group.
In order to launch new businesses and organizations, women in every region of the world are overcoming a variety of problems and barriers.
Are you considering the launch of a company that will be run by women? According to the statistics on female entrepreneurs, this is an excellent time to launch a company that is owned and operated by a woman.
It’s possible that there will never be a better time to launch a business as a woman, so if you want to one day run your own company, you should get started right away.
Should you choose to hold off, you will come to regret not acting sooner rather than later.
There are a multitude of services and assistance options available right now for women who wish to establish their own enterprises. I hope that everything you put your mind to turns out well.