Do you know that 36% of women own a small business?
However, in the countries of the Middle East this number is less than 10% while in the USA
women own four out of ten businesses?
Women dominate sectors like beauty, health, and fitness industry as well food places and
restaurants, retail stores, education-related businesses, and provide business services and in
the USA, there are more than 12 million women currently own some kind of business.
Entrepreneurship statistics show that only 30% of female business owners are younger than
40 (takes years to build connections and financial capital) and that more than 80% of these
women have a college degree.
Tech industry
At the moment, there are 12 "unicorns" founded by women (or part of the founder team) in a total of 357 unicorns globally but according to a consulting group study, women-owned
businesses are safer for investors and women are 9% less likely to seek funding in the first
place because they are subjected to more scrutiny than their male counterparts when facing
investors.
Only 50% of the startups have at least one female founder and at least one woman sits on the board of directors in half of the world startups but things are changing and we now see that 60% of startups have some program to increase the number of women in executive positions because it has been proved women in leadership brings a better return on investment or better annual earnings.
Reasons for a woman starts a business
Flexibility - women want to work from home because of family commitments
To have more control over their future and escape the glass ceiling
To follow their passion and have a fulfilled and meaningful life
To avoid the gender pay gap that exists in the corporate world
Challenges for a woman starts a business
Lack of knowledge: Just 39% of women think they are capable of running their businesses because they think they do not possess adequate entrepreneurial skills.
Lack of self confidence: Studies reveal that women doubt their decisions more often and are more prone to self-criticism.
Lack of funding and capital or even access to fund: 2.8% of funding went to women-led startups in 2019 and had fell to 2.3% in 2020.
Lack of network: women are 27% less likely than men to have a strong network on Linkedin
Facts to blow your mind
The Census Bureau found that full-time, year-round working women earned 80% of what
their male counterparts made in 2016. If change continues at the rate seen since 2001,
women will not reach pay equity with men until 2119.
Another survey revealed that roughly 74% of women said flexibility is more important than
making the most money.
Only about 12% of decision makers at VC firms are women, and most firms still don’t have a
single female partner, according to an analysis last year. Of all partners at these firms, only
2.4% are female founding partners — who, as Fast Company notes, “control an outsize
proportion of a firm’s investment decisions.”
But there’s another big shift that has more recently come to light, as figures from 2020
have been tallied: a substantial drop in venture capital funding for women-led startups. This
wasn’t just part of an overall decrease in VC funding. In 2019, 2.8% of funding went to
women-led startups; in 2020, that fell to 2.3%, Crunchbase figures show.
About Candyce Costa
London-based Candyce founded Female Tech Leaders three years ago as a result of her own experience in Technology and being an entrepreneur. Her main goal is to create a platform for tech women around the world to be seen and be proud of their stories and adventures in the tech industry showing resilience, strength, and a growth mindset is a magical formula to create your own path to leadership and achieving your dreams.
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