Starting a business can be one of the most exciting events in an individual’s life. Helping your first customer, sending your first invoice, and signing your first distribution check can provide a feeling that is unmatched. At USAmeriBank, we encourage entrepreneurship and have recently launched our Women Entrepreneurs (WE) program. The program supports professional women to enrich both their personal and professional lives through handcrafted banking solutions, education, and networking opportunities. It provides a forum for women entrepreneurs to exchange ideas, share advice, and create success. Our team has pulled together some facts in hopes of inspiring those who have thought about building their own business.
- 1. Women Entrepreneurship is on the rise
The 2016 Global Entrepreneurship Monitor (GEM) survey shows that the rate of women entrepreneurs in the U.S. has increased an average of 13%. In the inaugural CNBC Upstart 25 List, women founded 10 of the 25 companies. Women now make up 40% of new entrepreneurs in the United States; the highest number since 1996. When you consider that women make up over 50% of the U.S. population, and 47% of the labor force, this trend has plenty of opportunity to continue to increase.
- 2. Women Entrepreneurs bring a unique perspective
Women have an intrinsically unique world view shaped by personal and professional experiences. As a result, women-owned businesses fill much-needed gaps in the economy. Sarah Blakely started SPANX, Inc. because of an individual need. She was searching for pantyhose that didn't have seamed toes and didn't roll up the leg after-altering them. When she could not find them, she created them herself. Interestingly, when she looked for funding to establish the company, she could not find it. She leveraged her personal savings, made a prototype, and worked diligently to gain distribution. Today, SPANX is a household name and produces over $250 million dollars in revenue. This incredible enterprise would have never been built if it was not for the perspective and ingenuity brought forth by a women entrepreneur.
- 3. Women Entrepreneurs make great role models
Watching someone start a business, build a team of employees, and realize their dreams is nothing less than inspirational. These passionate visionaries can make great mentors and role models for the young women in the community. There are over 9.1 million women-owned businesses currently in operation and each is a source of motivation.
- 4. Women Entrepreneurs build great companies
Recent studies have suggested that women entrepreneurs tend to be over 40 years old and have a high level of education. They have a passion for their work, their employees, and can tolerate a high level of risk. Their companies tend to offer better healthcare coverage, more vacation, and superior training. This combination of experience, education, and commitment creates a positive and challenging environment that appeals to the best employees and drives them to provide exceptional service.
USAmeriBank is excited to create an economy that inspires the next generation of women professionals. We understand that access to capital is an important tool for developing a sustainable business. Our team is committed to increasing the number of women business owners and invites you to meet others that share your passions. To learn more about how to get involved with the Women Entrepreneur Program, or how USAmeriBank can help you with your financial needs, contact us at 1-800-949-5666 or www.usameribank.com/WE.