Below I have looked at some of the reasons behind the rise of female entrepreneurs. If you’re not already thinking about starting your own company, then you’ll be itching to get going once you’ve finished this article.
Recommended reading: The Biggest Startup Communication Mistake & How To Avoid It
Concerns About Pay
Women earn less than men, fact. Don’t believe me? Check the stats. The average pay for women in 2017 was $12,000 and the average pay for men was $21,000. Current estimates are that women won’t achieve gender pay parity until 2234.
It’s not surprising then that more women are starting their own companies than ever before. The benefit is obvious: charge the rate that your work demands and be paid based on the quality of your output, not your gender.
#Metoo – Empowerment
2017 was the year of the #Metoo movement. Though used originally by social activist Tarana Burke, Alyssa Milano popularized the phrase by encouraging women to tweet it in order to “give people a sense of the magnitude of the problem” of sexual harassment.
From adversity came strength and with strength determination. Societal shifts away from accepting established practices within all areas (work, home, culture) and this is being used to empower women to start their own businesses. As Creative Startups explain:
Credit: Creative Startups
Women not only want to start their own companies, they are receiving renewed attention from organizations that exist to help new entrepreneurs make their way in the business world.
Women Are Innovators
Not only are more women starting more businesses than ever before, they’re starting more innovative businesses than their male counterparts.
A report looking at US entrepreneurs found there to be a higher chance of women starting businesses that introduced new, innovative, products and services than there was of men doing so. Indeed, the chances of a female entrepreneur being innovative was 40%, against 35% for a male entrepreneur.
Great Examples to Learn from
There are so many great female entrepreneurs in the world that it’s hard to pin down the most inspirational women. Some of the women who are inspiring other women to start their own companies are:
Co-founder of the world renowned publication which bears her name, Arianna Huffington started HuffPost (previously The Huffington Post) in 2005 with Andrew Breitbart, Kenneth Lerer, and Jonah Peretti.
In 2011 AOL paid $315 million to buy The Huffington Post, with Arianna Huffington becoming editor-in-chief of The Huffington Post Media Group as part of the buyout.
Named the 87th most powerful woman by Forbes, Folorunsho Alakija is a Nigerian businesswoman who made her $2.1bn fortune in the fashion, oil, and printing industries.
Having started as an executive secretary at Sijuade Enterprises, she today owns multiple businesses and is the second richest woman in Africa.
If you’ve organized or attended, an event in the last decade then you probably know the name Eventbrite. What you might not know is the name of its co-founder, Julia Hartz.
Hartz started the company with her husband, Kevin Hartz, in 2006, which was the first of its kind in the world of event management. Today Eventbrite is a multibillion-dollar company and Julia Hartz is a multimillionaire.
Everyday Success Stories
Arianna, Folorunsho, Julia, are just some of the better-known women who have started their own companies. Each and every day there are scores of women starting their own businesses and you should also take inspiration from some of the smaller-scale success stories.
It’s Now Easier Than Ever to Start Your Own Company
If the gender pay gap, innovative nature of female entrepreneurs, the movement to self-empowerment, and the multitude of examples of successful female business women wasn’t inspirational enough, it’s now easier than ever for women to start their own companies.
Take this example from mother, Pinterest marketing extraordinaire, mother, and successful female business owner, Laura Thomas.
She set up a business to save photographers time, bringing an innovative approach to editing that has more cut the time it needs to take to edit a photography session by more than half. She then built an online store and used her skills with Pinterest to drive up the sales for her business.
You can see the result of her fantastic business below…
Like Laura, all you need is a brilliant, innovative idea, a place to sell your idea, and then the will and skill to market your business. If you want further details on how you can get from idea to successful business then watch the brilliant video below…
More women are starting their own companies than ever before and I can’t say that I’m surprised. You can’t wait 200 years for your paycheck to catch up with the gender pay gap and you don’t have to.
Take inspiration from this article, find a great, innovative, idea and start your own company today.
About the author:
Victoria Greene is a branding consultant and freelance writer. On her blog, VictoriaEcommerce, she shares tips on how who can take a great idea and become a successful entrepreneur. She is passionate about helping fellow entrepreneurs realize their dreams of starting their own company.