Why Shop Women-Owned? Powerful Benefits to Partnering with a WOSB
Published August 2022 by About Us
Did you know we are certified women-owned? We are part of the Women’s Business Enterprise National Council!
According to the American Express Annual State of Women-Owned Businesses Report, in 1972, women-owned businesses only represented 4.6% of all U.S. businesses. In 2019, they represented 42% of all U.S. businesses. Women are breaking down barriers to start and run successful companies!
Supporting Women-Owned Businesses Invests in:
1. Women’s Economic Empowerment
Women’s economic empowerment is defined as the transformative process by which women gain the skills, resources, and opportunities needed to access and compete equitably in markets and the power to control and benefit from economic gains. Women’s economic empowerment not only benefits individual women but also their children, households, and communities.
2. Gender Equality in Business
Women-owned businesses often struggle with challenges such as access to bank funding, sexism, gender discrimination, and more. Women entrepreneurs face challenges getting fair access to capital. As of 2021, women entrepreneurs are still being offered smaller loans with significantly higher interest rates than men.
Women bring unique insights, passions, and perseverance to bring about new ideas, disrupt business models, break industry norms, and create a new generation of innovators.
4. Growth of the Economy
As of 2019, there were nearly 13 million women-owned businesses in the U.S! In 2019, Women-owned businesses generated $1.9 trillion in revenue for the U.S. economy. Between 2014 and 2019, the growth rate of the number of women-owned companies was 3.9% annually. Women-owned businesses employ almost 9.4 million people as of 2019.