In a Changing Business Landscape, the Voice of the Female Entrepreneur Is Being Heard  

Starting a business has always been a moniker of the so-called “American Dream.” In the past, that dream has been largely unattainable by the women of America and across the globe. Investors have long overlooked female-driven businesses, despite their countless merits, financial or otherwise. Women often have had to work twice as hard to accomplish half of what men of equal or lesser business acumen achieved in far less time; this is even more apparent for women of color. But after a long and arduous struggle, it seems that women entrepreneurs have finally started to break out of this vicious cycle and get their work noticed.

The Numbers Don’t Lie

In recent years, women-owned businesses are starting to get the notice they deserve. Many experts believe that today, we are living in a “Golden Age” for women in entrepreneurship. In 2016, American Express OPEN commissioned a report on the state of women-owned businesses. They discovered that, as of 2016, there were 11.3 million women-owned businesses in the United States, employing nearly 9 million people and generating over $1.6 trillion in revenues. Those numbers aren’t typos; more than 11 million businesses in the United States alone were owned by women in 2016. That marks a 45% increase from the number of women-owned businesses in 2007. To offer some perspective, the increase among all businesses in the United States from 2007 to 2016 was only 9%. Amazingly, this study reflects only businesses in the U.S.; those numbers are even more impressive on a worldwide scale, and lead one to wonder what has changed between 2007 and 2016. The answer is: an awful lot.

Third-Wave Feminism’s Impact on Investors

There have always been loud and proud feminists (author included) who have vocally and fiscally supported women-operated enterprise, but in the past, those feminists were not known for having the deep pockets and widespread connections that typical investors did. In the years following the rise of third-wave feminism, “typical investors” has become a term that describes a very different demographic than it once did. The term “angel investor,” in particular, is no longer strictly associated with retired men who have lots of money and nowhere to spend it. Instead, the definition has broadened to include successful women who want to support their entrepreneurial sisters in their journeys to head up equally successful companies. This kind of camaraderie between women is directly tied to the goals of third-wave feminism. While those goals have been hotly debated among scholars and laymen alike, it seems everyone can agree that a key part of this ideology’s mission is for women to support one another by any means they can.

It should be noted that many scholars believe third-wave feminism places a great emphasis on the nurturing and success of the individual self, and would argue that the collaborative nature of the relationship between investor and investee goes against that mantra. However, a large part of celebrating the individual can come from working closely with and supporting other women who share the same beliefs and ideals. In the world of entrepreneurship and investing, this can mean contributing funds as seed money for women’s business ventures which share similar professional objectives.

Success Breeds Success

The rapid growth of women-led businesses across the globe can be partially attributed to the trend of female empowerment, but another important reason why women in entrepreneurship are thriving in the year 2017 is because of the widespread success of their peers. It’s been proven through various studies and reports that businesses with women at the helm have grown in recent years and outperformed their male peers in terms of revenue. Seeing that kind of success by other women has given many female entrepreneurs the courage to pursue their own dreams of starting a business. Witnessing the success of their peers, woman entrepreneurs have been able to follow in their footsteps and begin a “Golden Age” for female CEOs and founders.

Many believe that 2017 will be looked back on as a breakout year for female founders. But women entrepreneurs have steadily been building their businesses for years, quietly succeeding and moving forward. It’s just that now, people are starting to take notice, and give credit where credit is due.

Written by Kathleen Lassiter, Freelance Video Writer/Editor