To love what you do and feel like it matters , how could anything be more fun?—Katharine Graham
The number of women-owned businesses is surging. The National Association of Women Business Owners (NAWBO) estimates that in 2024, a staggering 43.2% of all businesses in the US will be women-owned, translating to over 33 million small businesses. This represents a 21% increase over the past five years.
The increase in women-owned businesses from 2019 to 2023 by 94.3% compared to men-owned businesses reflects a numerical growth and a transformation in the entrepreneurial landscape. Women entrepreneurs are not only starting businesses at a faster rate but are also breaking traditional boundaries across various industries. This surge in women entrepreneurship not only empowers individual women but also contributes significantly to economic development and societal progress as a whole.
Recognized dates such as Small Business Saturday and Small Business Week are pivotal to recognizing and elevating the importance of women-owned small businesses in our economy and society. Read on to learn how to support, empower, and promote your community’s locally-owned small businesses.