Women have proven time and again that we are the backbone of the business world.
By Brianna Salinas, Illustrations by Jessica Wetterer
$5,000
According to Fundera by NerdWallet, the average entrepreneurial woman can witness a $5,000 disparity between the offered average loan size and that offered to her male counterparts. In order to see a rise in loan amounts given to women, there must be a considerable rise in what women are willing to ask for. By requesting higher loan amounts, the loan amounts funded will, in turn, also rise.
84%
While women-led businesses receive less funding, women’s companies are seen growing at a considerably higher rate than men’s. The average women’s company grows by 84%, whereas a man’s company will grow at 78%. Women are seen to have a faster rate of creating jobs and developing their businesses.
172%
Since 2007, Hispanic women-owned businesses have grown at an astonishing rate of 172%. The National Women’s Business Council reports that Hispanic women can be thanked for supplying 570,000 workers with jobs. According to American Express, 400 Hispanic women-owned businesses are founded daily.
2X
According to Forbes, female-founded startup businesses were shown to receive a higher revenue than businesses founded by men. The study, which was led by Mass Challenge and BCG, included 350 startups and found that women-founded businesses earned twice as much money as their male counterparts. This discovery proves that female-owned businesses are noticeably safer for investors.
43%
Women of color are the leaders in the entrepreneurial siege of women-led businesses. According to Business Wire, between 2014 and 2019, women-led businesses grew at a rate of 21%. Businesses that were headed by women of color grew at a noticeably higher rate of 43%–while African American women-owned businesses grew higher still with a rate of 50%.