In todayߣs global economy, the proportion of female entrepreneurs is higher than ever. According to the State Owned Business Report, this increase is a mind-blowing 68% since 1997. With a miraculous 9.1 million female owned U.S. businesses currently being operated in 2014, women-owned business generate over a trillion and a half dollars for the global economy.
With the amount of traction women are gaining in the entrepreneurial community, these ventures are attracting unprecedented media attention. This begs the question: Is this simply a trend or is it a business segment thatߣs here to stay? With woman-owned businesses representing over a third of the formal sector enterprises worldwide, the numbers would indicate that these businesses are here to stay.
The recent census from the Global Entrepreneurship Monitor (GEM) found that a million women are running new businesses, and near a hundred million have been in existence for over three years. As you can imagine, these 100+ million woman-operated businesses have a tremendous bearing on the global economy.
With the vast majority of entrepreneurial ventures in the past millennium being predominantly male-driven, this recent surge of female entrepreneurship represents a significant step in women bridging the gap in entrepreneurial ventures. Despite the tremendous strides women have made in this arena, a recent study from Harvard University found that women still have trouble securing funding.
The findings of the study were:
1) Investors prefer pitches presented by male entrepreneurs over female presenters.
2) The attractiveness of the male has a bearing on how the pitch is received.
3) The attractiveness level of the female presenter had no bearing on the result.
Donߣt let unequal lending practices prevent you from growing your business. Small business funding should be available to anyone with a viable and proven business model. Before you give up on securing capital for your blooming business, check out the alternatives to venture capital for business growth.
“People donߣt take opportunities because the timing is bad, the financial side unsecure. Too many people are overanalyzing. Sometimes you just have to go for it.” – Michelle Zatly, Co-founder of SoundFlare.
This post is brought to you by Bizlender.
Bizlender offers alternative funding solutions for established businesses.