Check out these 4 numbers:
39% – the percentage of US firms owned by women
4.2% – the percentage of revenue brought in by women-owned businesses (yes, you read that right, 39% of the businesses are bringing in 4.2% of the revenue)
467% – the growth in businesses owned by women of color. They also average more employees and revenue than the typical women-owned business.
2% – the percentage of women owned companies that break the seven-figure mark.
So what do all these 4 numbers mean?
That you matter.
This is proof that you matter. Every single day, over 800 women-owned businesses are started. Your business was one of those businesses. Think about what that means to our daughters (and our sons!), to our neighbors, to our politicians, to our own sense of worth.
That growing our revenue is a political statement.
According to NAWBO, closing the gap between the number of women-owned businesses and the share of small business revenue that they represent is essential to our economy: “…the rate of growth of women-owned businesses has been phenomenal. However, if women owned businesses’ share of employment (8%) and revenues (4.2%) were similar to their share of firms (39%), they can make a much greater impact on the economy.”
That black women are done being fucked with.
71% of women-owned businesses started each day are owned by a woman of color. Honestly, I’m not surprised. It’s so hard being an employee as a woman of color. The pay gap, discrimination, subtle racism → there’s so many downsides and not that many upsides (hmm, free coffee?). What did surprise me about these stats was that piece above about how businesses owned by African American women “average more employees and revenue than the typical women-owned business.” I think that says so much about black women trying to build community and using their revenue to impact change.
Aim for a million
2%?? 2%?? That’s how many women business owners will ever reach seven figures in revenue. That is bullshit! There is so much stigma in the world about saying you want to be rich. That you want to be successful. Powerful. That you want enough money that nobody can fuck with you. And yet, it’s totally acceptable to talk about how thin you want to be, how beautiful you want to be, how many kids you want to have. This world was (note that I’m saying WAS) designed to keep us small, and so if I want to create a new world, I have no choice but to become BIG and say, Hello Seven.
Are you ready to join me?