October is Women’s Small Business Month!
As one of the over 12 million women-owned businesses in the United States, we are a part of a community that is strong, capable, and a driving force of the American economy.
Don’t believe us? Here are some stats that back that up:
- US women-owned businesses generate 1.8 trillion a year
- Women-owned businesses employ over 9 million of the US workforce
- Women-owned businesses represent 42% of all businesses
Women Business Owners are commanding more and more of the economy each year, but there is still so much room for growth. Though women-owned businesses represent 42% of all businesses, we only represent 4.3% of business revenues. With the COVID-19 pandemic and resulting economic downturn, women-owned businesses, particularly businesses owned by women of color, need our support now more than ever.
This October, celebrate women’s small business month by supporting, advocating for, and raising awareness of the women-owned small businesses in your community.
Buy from Women-Owned Small Businesses
The simplest, most straightforward way to support women business owners is to give them business.
Before making plans to talk to a financial consultant, order brunch, redesign your house, purchase clothes, or work with an accountant, do a quick google search to see what options are in your area. Chances are, tons of great women-owned businesses and enterprises can help you find exactly what you need.
Minimizing the revenue gap by purchasing goods and services women-owned small businesses will not only fuel our economic bounce back, but it will bring about an economy that better represents the diversity of our nation’s business owners.
Work with Women Entrepreneurs and Enterprises
Working with diverse suppliers and agencies for business growth will help you gain new perspectives and reach audiences in a sincere, knowledgeable manner.
Not sure how to find a diverse supplier? Here is a list of certified diverse suppliers you can use to find marketing and advertising assistance. This list highlights not only women-owned businesses but businesses owned by people of color, folks in the LGBTQ community, and several businesses that fall into multiple categories.
Find a mentor or become a mentor
Learn from your business idols, or help teach the women business owners of tomorrow. Many successful enterprises started with one key ingredient – an amazing role model. Whether you want one or want to be one, working with capable women in your community will build up women-owned businesses as a whole.
The next time an aspiring entrepreneur reaches out, respond to the call with the advice you wish you had when you started.
As an aspiring entrepreneur of any gender, make it a point to find the successful women in your community and learn from their journey. Listen to speakers, attend webinars, read books, and discuss these topics with influential women business owners.
Support diverse women-owned companies
We only move forward when all of us move forward. Let’s validate, empower, and support every definition of equal rights in our communities and beyond. We advocate for racial equity, LGBTQ+ rights, disability representation, and all intersections of womanhood that demand respect and equal opportunities.
64% of new women-owned businesses were started by women of color last year, and Latina women-owned businesses grew more than 87% in 2019. However, these businesses can be among the most vulnerable to the pandemic and economic downturn.
Raise awareness for women-owned businesses
You don’t need to open your wallet to support women-owned businesses. If you don’t have the funds to regularly support through financial means, your voice can be stronger than money.
Leave positive reviews for companies that you have been impressed with or worked within the past. Reviews are powerful. By sharing your positive experience in detail, you just may convince others to commit to a purchase.
Follow, like, and share content from your favorite women-owned businesses on social media. These actions may seem small and insignificant, but they can be invaluable in raising awareness and legitimizing a business. You can also create your shout out to share with your followers. This social proof will be greatly appreciated.
Recommend products and services to your community. Word of Mouth marketing is one of the strongest forms of marketing out there, and that’s something that a company can’t create internally. When you recommend products and services to your community, you not only help businesses gain new clients and customers but also strengthen their reputation one mention at a time.
As a women business owner – get involved in your community!
This month is for you!
Tell your story and be proud of your journey. You worked hard to get to where you are, and your story can inspire others to follow their professional aspirations, no matter what’s standing in front of them.
Join a community of like-minded business owners to network, share ideas, and grow the community. Organizations like NAWBO are there to help you find other professionals to strategize and grow with, access business resources, and find experts in your industry to learn form.
Become a certified women-owned enterprise. This can help you legitimize your business and connect you with companies that want to work with diverse suppliers. WBENC, the largest certifier of women-owned businesses in the U.S. and a leading advocate for female entrepreneurs, offers a valuable business certification to research.
As a Women-Owned small business, we are proud to do our part in supporting women entrepreneurs grow their businesses and stand for leveling the playing field. Every time advocate for diverse businesses, we contribute to economic equality. If you are interested in partnering with a certified diverse agency, reach out to our team!
Leave a Reply