Within the last 20 years in the United States, women-owned businesses have seen a steady increase, showing the hard work and dedication of female business owners.
By Kaitlyn Wilkes, Illustrations by Jessica Wetterer
According to Guidant Financial, 25% of businesses in 2023 are owned by women. Over half of these business owners are women from Generation X who cite a desire to “be their own boss” as impetus for starting their own businesses.
In a study conducted by Writer’s Block Live, in 2022, more than 2.5 million of the businesses owned by women of color in the United States are owned by Black women, and 35% of Black business owners are women. Businesses owned by women of color employed over 2.2 million people.
The same study by Writer’s Block Live cited women aged 55 years old and above are “becoming the new face of entrepreneurship,” stating women in this age range are most likely to leave corporate work to start their own businesses. That being said, they also cite these women face barriers steeped in both sexism and ageism more often than their male peers.