Last month, Fortune reported that the number of women running businesses in the United States hit an all-time high. In fact, 37 percent of the companies that made the Fortune 500 list are currently led by women. Last year, the record was broken at 33 percent, and if the trend continues, women-owned businesses could quickly gain equal footing and overtake businesses and industries that have been traditionally dominated by men.
Times Have Changed for the Better
There is something to be said for both time and age. There are tremendous opportunities for women to make innovative changes to how businesses are run and to launch successful ventures of their own. The view that a woman who engaged in business was “just a hobby” is outdated and there are billions of dollars earned by women-owned businesses to prove it. Whether it’s the tech sector, trucking, manufacturing, retail, or niche startups, the increasing number of successful women-owned businesses shows that the times have changed for the better, and that the time is ripe for any woman with an entrepreneurial spirit to carve out her share of the market.
There Are Still Some Challenges
While the business world may have opened up many lucrative opportunities for women-owned businesses, financing still remains a challenge. Women still earn less than their male counterparts on average, and that also carries over to business financing. Women-owned businesses experience more loan turndowns than male-owned businesses. When women-owned businesses are approved for financing, traditional lenders often provide much less than is needed, even for solo entrepreneurs. This causes many women entrepreneurs to close up shop or become underrepresented in the business landscape.
Financing Solutions for Women-Owned Businesses
Nanaki Capital provides a wide range of financing solutions for women-owned businesses nationwide. From small business loans to unsecured business lines of credit and much more, we provide the capital necessary for women to experience long-term success. If you are a woman looking to launch or grow a business, contact the team at Nanaki Capital today.