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The Entrepreneur’s Source® Presents 10 Entrepreneurship Tips from Successful Women in Business
Over the past 30 years that The Entrepreneur’s Source® has been in business, women have come a long way as entrepreneurs and are becoming a force to be reckoned with in the business world. As of 2015, it is estimated that there are just over 9.4 million women-owned businesses in the United States, generating nearly $1.5 trillion in revenues and employing over 7.9million people, according to the State Of Women–Owned Businesses In 2015 Report Commissioned by American Express.
Between 1997 and 2015, when the number of businesses in the United States increased by 51%, the number of women-owned firms increased by 74% – a rate of 1- 1/2 times the national average.
Source: American Express OPEN/Womenable.
These women possess many traits that make them great business owners, such as a willingness to take initiative and deploy effective communication. Similarly, several studies have even found that women in leadership positions tend to deliver a higher return on sale, invested capital and equity when at the head of a business. All in all, women in business are thriving, and this is something to be celebrated.
The growth in the number of women-‐owned firms over the past 18 years exceeds the growth rates of all but the largest, publicly-traded firms – topping growth rates among all other privately-held businesses over this period.
Another bright spot of privately-held women owned firms is they have added an estimated 340,000 jobs since 2007. While men-owned and equally-owned firms, employment has declined over the past eight years.
Source: American Express’ OPEN/Womenable.
As October marked the U.S. Small Business Administration (SBA)’s 27th annual National Women in Business Month, The Entrepreneur’s Source® deemed it appropriate to highlight words of wisdom from ten successful women in business to hopefully inspire prospective women entrepreneurs into action. Business Ownership Advice and Wisdom from Women Entrepreneurs:
On the Business Grind
On Finding the Right Fit
On Being a Woman in Business
Take the First Step: If this article inspired you to take the leap into franchise business ownership, then contact a career coach at The Entrepreneur’s Source® today. Consulting with an E-Source Coach is a great resource to help you define your I.L.W.E. Goals and begin to explore business opportunities, helping you to become a successful woman in business.