Women make up almost half of all labor, but there are few fewer female entrepreneurs out there than their male counterparts. In 2016, women-owned only 38% of the businesses in the United States. If you’re interested in entrepreneurship as a woman, below are some facts and resources that may be useful for you.
Education Among Women
Only one or two generations ago, the majority of women didn’t attend college. This didn’t change until 1980. However, since that time, women have surpassed men in terms of earning a bachelor’s degree. Women now have a higher level of educational attainment than men. At least 33% of women have at least a bachelor’s degree.
The Workforce and Women
Women make up about 47% of the workforce in the U.S., most of whom are working in professional or management positions. However, these same women make only 77% of what men do in the same positions. Hispanic or Latina women and Black women also earn less than white and Asian women in the workforce.
Business Owning Women
Female entrepreneurs can be found in virtually all industries, from cybersecurity to precision medicine, agriculture, and manufacturing. As a whole, women own more than 11 million firms, which is an increase of 45% from 2007 to 2016. Businesses owned by women are also seeing employment increases as well as higher revenue than ever before.
Funding for Female Entrepreneurs
Unfortunately, it seems that women are less likely to be funded by venture capitalists. Only 5% of the funding from venture capital went to women in 2016. This is tied to two things: lack of women who are venture capitalists and embedded inequality in the application and approval process.
Thankfully, there are other funding options for female entrepreneurs. If you’re curious about what options are available to you, Third Bay Capital is here to serve you. Reach out, and we’ll make sure you know all your options.