Celebrating National Women's Small Business month

Empowering Women Entrepreneurs: Celebrating National Women’s Small Business Month

October is National Women’s Small Business Month, a fantastic opportunity to spotlight the incredible achievements of female entrepreneurs!

Whether you’re a trailblazing woman running your own business or a savvy consumer eager to support women-led ventures, we’ve got some exciting ideas to help you celebrate and uplift female entrepreneurship this month and throughout the year.

Women in business statistics

  • 14 million women-owned businesses make up 39.1% of all U.S. businesses, a 13.6% increase from 2019 to 20231
  • Women-owned businesses add $1.8 trillion to America’s gross domestic product every year2
  • Nearly 12.2 million people are employed by a woman-owned business3
  • 57.9% of female business owners said they started their own company because they wanted to be their own boss4
  • Retail (storefront and ecommerce) is the top industry for women-owned businesses at 16%5

Supporting women-owned businesses is essential for fostering a more diverse and inclusive economy. When we invest in these businesses, we empower women entrepreneurs to thrive, driving innovation and creating job opportunities within our communities.

Support women-owned businesses

No matter your budget or where you are, there are countless ways you can join in the celebration of Women’s Small Business Month and show your support!

Make a purchase

One of the easiest ways to show your support for women-owned small businesses is to purchase their services or products. But don’t stop there. When you find a brand you love, share your experience. Leave positive reviews on the brand’s Google business profile, website, or social media accounts. Be sure to check out this Directory of Women-Owned Brands to help get you started!

Spread the word

Share information about women-owned businesses with friends, family, and your social media followers. You can showcase photos of what you bought on your social channels, link back to the brand’s website, or highlight the incredible women behind the business. This is especially impactful if you have a social media following or professional connections who can benefit from the information.

And don’t forget to tag the business or the owner in your posts! By doing so, you’ll boost their visibility and make it easier for your friends and followers to discover and support their offerings. Your voice can make a real difference!

Attend networking events

Try looking for local or virtual networking events specifically aimed at women entrepreneurs. These gatherings provide a platform for women to connect, share experiences, and exchange valuable insights. They often feature guest speakers, workshops, and opportunities to meet potential partners or clients.

By participating, you’re actively contributing to a vibrant community that fosters collaboration and growth, helping women-owned businesses flourish for the long haul. Your presence not only uplifts individual brands but also strengthens the network of female entrepreneurs, creating lasting connections and opportunities for everyone involved.

Offer mentorship

Offering mentorship to a female entrepreneur can be incredibly impactful. A mentor can share valuable insights from their own experiences, helping the mentee avoid common pitfalls and develop effective strategies for success. Through personalized advice, mentors can assist in setting clear, achievable goals and offer accountability to stay on track. This one-on-one support can be especially helpful for new entrepreneurs who may feel uncertain about next steps or be overwhelmed by challenges.

Beyond practical advice, mentorship provides emotional support, which is crucial in the stressful world of entrepreneurship. A mentor can serve as a sounding board, offering encouragement during tough times and helping the mentee stay resilient. Ultimately, mentorship fosters both personal and professional growth, empowering women entrepreneurs to thrive in competitive markets.

Collaborate on projects

If you own a business or work for one in a related industry, consider different projects and partnership opportunities. From hosting an event to joint sponsorships, getting your favorite brand’s name in front of new customers is always a win! Of course, the benefit isn’t one-sided. You gain valuable takeaways by working with female leaders who strive to empower other women. A solid collaboration puts more eyes on both brand names and can open the doors for ongoing shared resources and expertise

Invest in women-owned startups

If you’re able, consider investing in women-owned startups through crowdfunding platforms or venture funds dedicated to supporting female entrepreneurs. By investing in women-led ventures, you not only provide the necessary financial resources to help these businesses scale but also signal confidence in their leadership and vision. These investments can fuel product development, marketing efforts, and hiring, allowing the business to grow more rapidly.

The bottom line

By choosing to support women-owned businesses, we contribute to a more equitable marketplace that benefits everyone. These small businesses are the backbone of local economies across the U.S., and with our help, they will continue to thrive.

  1. https://www.nwbc.gov/report/2023-annual-report/
  2. https://www.nwbc.gov/report/2023-annual-report/
  3. https://www.wippeducationinstitute.org/2024-impact-of-women-owned-businesses
  4. https://www.guidantfinancial.com/small-business-trends/2024-women-in-business/
  5. https://www.guidantfinancial.com/small-business-trends/2024-women-in-business/