OCTOBER IS NATIONAL WOMEN’S SMALL BUSINESS MONTH
BY HEIDI MCIVOR ALLEN
As we look ahead to October, it’s time to recognize and honor the achievements of women entrepreneurs nationwide. October marks National Women’s Small Business Month in observance of female business owners and their contributions to society, the economy, and countless industries.
As a woman-owned (and predominantly women-run) business at McIvor Marketing, we actively champion progress in female entrepreneurship and empowerment. During this National Women’s Small Business Month, join McIvor Marketing in supporting our female counterparts and colleagues’ accomplishments.
THE DIFFERENCE WOMEN-OWNED BUSINESSES MAKE
Women have an undeniable impact on our workforce and economy. According to the Small Business Administration (SBA), there are over 12 million women-owned businesses in the United States–representing 42% of all US businesses. These companies employ nearly 10 million people and generate nearly $2 trillion in revenue annually.
Women-owned businesses often contribute to a more equitable and inclusive business environment, as they are more likely to prioritize social responsibility, environmental sustainability, and workplace diversity in their operations. They also thrive in a variety of sectors, including retail, health and beauty services, business services, and hospitality-oriented industries.
OBSTACLES WOMEN-RUN BUSINESSES FACE
But despite these contributions, female business owners continue to face sexism and discrimination, among other obstacles, in the business world. Women often face difficulty securing funding for their businesses; studies show women receive less venture capital and lower loan offers compared to their male counterparts. Building professional connections can also be more challenging for women in male-dominated industries.
Many women entrepreneurs also struggle to balance the demands of running a business with family responsibilities, requiring creative solutions to budget their time efficiently. For women who own businesses (of any size), societal and cultural expectations, stereotypes, and biases around gender also create hurdles in the form of self-doubt and impostor syndrome.
PARTICIPATE IN NATIONAL WOMEN’S SMALL BUSINESS MONTH
During National Women’s Small Business Month (and throughout the year), you can show support for women entrepreneurs in many ways. At the community level, make a conscious effort to shop at women-owned establishments. Seek opportunities to collaborate and partner with women-owned businesses in your industry and community.
On a more macroscopic level, entrepreneurs and businesses can also support women-owned start-ups through crowdfunding platforms or angel investing. Alternatively, consider offering mentorship and guidance to aspiring female entrepreneurs you may know. In these ways, you can support a worthy cause and enhance your brand’s reputation–all while appealing to consumers who value diversity and inclusion.
SUPPORTING WOMAN-OWNED SMALL BUSINESSES WITH MCIVOR MARKETING
As the seasons start to change this October, let’s begin National Women’s Small Business Month by 1) recognizing how far women have come in the business sector and 2) supporting the next generation of women entrepreneurs. At the end of the day, National Women’s Small Business Month reminds us of the progress we’ve made and the work we have left to achieve gender equality in the workplace and business world.
Here at McIvor Marketing, we understand the challenges that come with being a woman-run enterprise. We know what you’ve been through and love supporting our fellow female-led businesses! When you partner with a full-service digital marketing agency like us, you get more for what you pay for and total transparency from start to finish.
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