Women Entrepreneurs Leading the Way

Women Entrepreneurs Leading the Way

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2015-09-30

Americn women in business

Gone are the days when the typical American woman was a stay-at-home mom. Today they’re making waves – and money - in the business world. The number of $10-million-plus women-owned firms increased by 57% — a growth rate nearly 50% more than $10-million-plus firms overall. The number of wealthy women in the U.S. is growing twice as fast as the number of wealthy men.

According to Sources of Economic Hope: Women’s Entrepreneurship, a report by the Kauffman Foundation, which researches and advocates entrepreneurship, women-owned businesses could provide the boost our economy needs.

The report highlights the fact that female entrepreneurs are a source of untapped potential and that accelerating female entrepreneurship could have the same positive effect on the U.S. economy that the large-scale entry of women into the labor force had during the 20th century. [2] Economists agree that women entrepreneurs can provide a stream of companies that are innovative, market-expanding, export-oriented, and job-creating. [4]
There are, however, some areas where women entrepreneurs need help:

  •     Connecting to funding sources
  •     Advice and mentoring
  •     How to make their business quick, agile, effective

So while there is still room for improvement, it’s certainly cause for celebration that the U.S. ranked number 1 out of 17 countries for fostering conditions that favor high-potential female entrepreneurs. These conditions include entrepreneurial environment, entrepreneurial eco-system, and entrepreneurial aspirations.
Here are some of the reasons women make such good business owners:

  •     Women make better leaders than men:  They build better teams, and they can combine intuitive and logical thinking.
  •     Women are better money managers: Venture-backed tech companies owned by women bring in 12% higher revenue than male-owned tech companies.
  •     Women also approach problem-solving differently than men: They look at all angles and find comprehensive solutions.

There is no doubt that women business owners in America are a force to be reckoned with.

 

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David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances.

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Founded in 1976, David Lerner Associates is a privately-held broker/dealer with headquarters in Syosset, New York and branch offices in Westport, CT; Boca Raton, FL; Teaneck and Princeton, NJ; and White Plains, NY. For more information contact David Lerner Associates Call 516-921-4200 Visit our website: www.davidlerner.com

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Jake Mendlinger
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Zimmerman/Edelson
516.829.8374 X 232
jmendlinger@zimmed.com

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