October is National Women's Small Business Month, and we’re celebrating! Our firm puts an emphasis on supporting women in business throughout the year, but this is an opportunity to recognize the incredible power of women's entrepreneurship and the impact that women-owned businesses have had on our economy. This month is an important time to recognize the many female business owners who are dedicated to making a difference in their communities. We’re celebrating their accomplishments, offering resources to support their efforts, and giving you some creative ways to celebrate and support local women-owned businesses.
There has been a dramatic increase in the number of women-owned small businesses throughout the U.S. since the start of the pandemic. In 2019, before the pandemic started, 28% of new business owners were female. As of 2022, that percentage increased to more than 50%. The percentage of women-owned businesses is expected to grow in the coming years, with companies in the Information Technology (IT) sector leading the way in earnings among women-owned businesses.
The History of National Women's Small Business Month
Women's Small Business Month dates back to 1988 when it was first celebrated in the United States. Shockingly, until 1988, women needed a male relative to co-sign to apply for a business loan. That year, the Women’s Business Ownership Act increased SBA’s access to capital to provide financial assistance to organizations geared toward women-owned small businesses. Today, there are over 13 million women-owned businesses, and they continue to rise.
The month-long celebration aims to recognize and support the achievements of women in business, highlighting their valuable contributions to the economy. Over the years, this event has grown significantly, shedding light on women entrepreneurs' challenges and advocating for more significant support for their ventures. The bigger goal is to create a supportive ecosystem that fosters growth and success.
Resources for Local Women in Business
There are many organizations and platforms dedicated to helping women in business succeed. Whether you need assistance with funding, networking opportunities, or mentorship, these resources can provide valuable guidance and support. From national organizations like the National Association of Women Business Owners (NAWBO) to local resources such as Charlotte Women's Business Center and the Charlotte Area Chamber Women in Business Programming, there are options for every woman in business. Take advantage of these resources to help you thrive in your entrepreneurial journey.
Success Stories from Local Women-Owned Businesses
Let’s look at some incredible success stories of women-owned businesses right here in our community. These success stories remind us of women entrepreneurs' amazing contributions to our communities.
Grace Communications was founded by Emily Green who sought to create a marketing and PR agency with a mission to help businesses grow by highlighting what sets them apart and tell their story effectively and with grace.
Moxie Mercantile was founded by Michelle Castelloe as a community Centered boutique offering both vintage and modern home goods, accessories, and clothing. With locations in Plaza Midwood, Matthews, and Fort Mill, there’s a good chance you’ve seen and visited one of Charotte’s favorite shopping businesses.
Your Hiring Coaches are reforming the “HAIL MARY” strategy of hiring and recruiting by empowering job seekers. Kelly Venable founded the company with a vision to help companies learn how to recruit and vet talent effectively while creating a culture of synergy.
SkillPop is Charlotte’s (and beyond!) go to resource for learning experiences that are engaging, interactive and accessible. Founded by Haley Bohon in 2015, the company offers both in-person and virtual learning opportunities both locally and in other cities. And, BONUS!, every purchase you make with Skillpop benefits the creative community of teacher and small business owners.
Creative Ways to Support Women-Owned Businesses
Supporting women-owned businesses is not just a gesture; it's an investment in our communities. There are several ways you can show your support:
Shop at NC woman-owned businesses or CLT woman-owned businesses whenever possible. By doing so, you're not only supporting these women financially but also helping to create a vibrant local economy.
Spread the word about these businesses through word-of-mouth, social media, or by leaving positive reviews online. Your recommendations can go a long way in helping these women gain visibility and attract new customers.
Become a mentor or offer your expertise to help other women entrepreneurs overcome challenges and achieve their goals. Together, we can create a supportive system that allows women-owned businesses to thrive.
Get involved and interact with other women-owned businesses. One of the superpowers of women is that we are generally supportive and nurturing. There is no better way to learn than from each other’s experiences and lifting each other up.
Overcoming Challenges Facing Women Entrepreneurs
Women entrepreneurs face unique challenges in the business world. From access to capital to gender biases, these obstacles can make it more difficult for women to start and grow their businesses. Studies have shown that women-owned businesses often receive less funding and have less access to networks and resources than their male counterparts. Additionally, gender biases can affect how women entrepreneurs are perceived and taken seriously in specific industries.
However, despite these challenges, women-owned continue to thrive and make a significant impact. By addressing these challenges and providing support and resources, we can empower more women to overcome barriers and succeed in their entrepreneurial journeys. Celebrate women-owned businesses with us this October, but also remember they need our support throughout the year, so keep it coming!
Dye Culik PC is a business and franchise law firm located in Charlotte, North Carolina. We are proud to support women in business in our community through our involvement in local organizations and by providing the legal resources and tools to help them start, grow, and protect their businesses. Connect with us to see how we can help your business.
Comments