There are almost 12 million women-owned businesses in the United States. Drilling down even further, over 2 million of those businesses are owned by women of color. Combined, these businesses have created jobs and currently employ over 9 million people. In fact, the rate at which women embrace entrepreneurship is outpacing any other demographic of business owners in the country. Being your own boss is not without its challenges, but the rewards have a much greater impact than people think.
The Big Myths about Women in Business
There are a number of misconceptions about women entrepreneurs. The biggest one that women who launch businesses must be self-centered or have something to prove. The truth is that women entrepreneurs have a much better sense of how their organizations fit into the larger socioeconomic landscape. Women in business are more likely to reinvest in their communities because they understand that success can be helped to uplift others – whether that is through donations, community works, or by creating jobs and mentorship programs for others.
The Work-Life Balance
Owning and running a business can be simultaneously liberating and full of pressure. Women entrepreneurs understand that launching a business means they are in control of their financial destinies. However, there is that looming pressure to go “all in” and work to all hours of the night to generate sales. Women entrepreneurs don’t become workaholics as much as their counterparts. Women entrepreneurs have figured out how to set boundaries with people and their own time, and to work smarter, not harder. This is an act of self-care which allows women entrepreneurs to stay consistent and at their best – to think clearly, rationally, and not allow people to cross lines.
Thinking Outside of the Box
Just because something “has always been done this way” doesn’t mean there is no other way to do it. Many women in business are realizing that to make headway and enact positive innovation, they need to think outside the box. That type of change can be seen in women-run startups, niche services, and even how they approach business financing. Traditional lending methods have rarely benefited entrepreneurs, and taking on debt isn’t always the right solution. Women entrepreneurs are exploring more efficient and flexible funding methods to launch, maintain, and grow their businesses successfully.
At Nanaki Capital, we believe that funding for women in business should be accessible without any hassle or red tape. We specialize in alternative funding solutions and our team will work with you to create solutions tailored to your business. If you are a women entrepreneur, contact Nanaki Capital today and see how we can help you blaze past your goals.