Although we celebrate Women’s Small Business Month every day here at Globowl, the rest of the country celebrates Women’s Small Business Month every October. And we’re okay with that. A whole 31 days dedicated to female founders and business owners is better than the zero days we’ve received over the past decade(s). We should ALL be celebrated for our dedication, brain power, chutzpah and commitment – and the numbers back it up:
- Businesses with gender diverse executive teams are 25% more likely to be profitable (McKinsey).
- Companies with more than 30% female executives are more likely to outperform companies that don’t (McKinsey).
- 60% of female-led businesses achieve higher ESG scores (European Investment Bank).
- Women-founded startups generate 78 cents in revenue for every dollar raised whereas white male-founded startups generate only 31 cents (Boston Consulting Group).
- Companies with more women in leadership roles tend to perform better in terms of stock price growth and return on equity (Credit Suisse).
- Women make or influence approximately 85% of all consumer purchasing decisions, from groceries to healthcare (Forbes).
- 67% of women and 63% of men said they were more likely to purchase products and services from women-led companies (Deloitte).
- Women-owned businesses account for 40% of all privately-held firms, generating $1.8 trillion in annual revenue (National Association of Women Business Owners).
(This begs the question as to why women only receive 1.9% of venture funding, but that’s a puzzle for another day.)
And as women, we’d be remiss not to remind you that October is Breast Cancer Awareness Month and it’s time to get those bad boys checked. So we can continue working, mothering, making change, fighting the good fight, and making the world go ‘round.
So with the few days we have left in this month, please support one of the approximately 12 million women-owned businesses in the U.S. Let’s continue bolstering the economy through the collective power of women.