Expansion of Women-led Businesses

by London Gibson-Purcell

“The entrepreneur always searches for change, responds to it, and exploits it as an opportunity” - Peter Drucker, Influential Modern Business Management Consultant


Women entrepreneurs are reaping the benefits of an expanding economy to shed light on the issues they face individually. The disadvantages associated with being a woman business owner comes with its own set of obstacles to overcome in business development. But that has not prevented the remarkable shift towards their businesses and causes for change. This is more prevalent than ever with the increase of women-led businesses in the market. According to Felicia Mowll from American Express, “women started 1,821 new U.S. businesses every day and owned nearly half (40%) of all small businesses in 2018.”


The reason behind this influx is the recognition of the benefits these businesses could have for the economy. These businesses are fueled by the hard work of their owners and the fresh visions they bring to the table. Woman business CEO of Stoutegy, Amanda R. Moncada-Perkins, believes, “Rather than simply waiting for someone else to provide us with a "chance”...women are ready to seize their own opportunities and they are ready to do the same for other people.” This go-getter mentality, accompanied with the willingness to help others in the process, stimulates the growth of women-led businesses. In other words, your identity allows you to have your experiences and that is what makes business ideas from the perspective of women special.


For future women business owners, Karyn Pettigrew, owner of ZoeGoes, suggests utilizing “free/minimal cost resources out there like the WBDC, NAWBO, Regional Small Business Associations, Economic Development Councils for course work and counseling. There are programs like Goldman's 10,000 Businesses and Visa's She's Next program as well.” Taking advantage of resources and building real relationships with stakeholders in your industry could make you the next successful woman business owner in America.




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