Like A Boss: Women Are Starting Their Own Companies At A Rapid Pace
Women might face a unique set of challenges and issues in the workplace, but that doesn’t mean they’re discouraged from taking initiative and joining the workforce.
In fact, according to an American Express analysis of US Census Bureau data, more and more women are deciding to start their own businesses, and begin working for themselves.
In a trend partially attributable to the increased difficulty in finding existing jobs in the market, the number of women started and owned businesses in the US rose by 68 percent from 1997 to 2014.
This increase marks a doubled growth rate compared to how many men started their own companies over the last 17 years.
Women start an estimated 1,288 companies a day, according to American Express. In the 2011-2012 reporting period, this number was only at 602 a day.
But women aren’t just creating their own companies out of economic necessity — according to experts, an increase in women in senior level management positions and other females who serve as positive professional role models provided these entrepreneurs with the encouragement they needed to start out on their own.
Executive director of the Center for Women’s Entrepreneurial Leadership at Babson College Susan Duffy said that more women are identifying CEO and company-starter as roles that are viable parts of their own futures.
Women are becoming more aware of the opportunities for entrepreneurship in their lives. It’s becoming more of an option for a career move than it ever has been in the past.
The Am Ex study also identified some interesting trends among the businesses that women were starting.
According to their analysis of the data, female entrepreneurs were most likely to create a company that provided educational services, administrative or waste management services, or in some way pertained to art, entertainment or recreation.
Stats also noted that the percentage of women-owned minority businesses was increasing, marking an impressive 215 percent increase from 1997.
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