Why You Should Support Women Entrepreneurs

Women business owners have been growing companies at a much quicker pace and fighting for their seat at the table, however the Covid-19 crisis has since exacerbated challenges women business owners were hoping to leave behind.

It’s no surprise that women business owners have a tough time finding funding for their businesses. In fact, women entrepreneurs receive 2.5 times less money from SBA loans than male business owners; on average, women receive $59,857 while men receive $156,279. (Source: Fundera)

Therefore, supporting women entrepreneurs is a necessity to the development of women business as a whole. Not only is it financially beneficial to use your purchasing power to support women business owners, but you may also find a new brand that is more innovative and thoughtful.

Here’s why:

• With the improvement and refinement of production, women entrepreneurs can provide more diverse products and services focusing on female consumers.
• The advancement of electronic technology has made it much easier for people to build e-commerce platforms, as more women entrepreneurs are able to sell online and access their customers directly.
• The popularity of social media has provided a platform for women entrepreneurs to promote their products and brands anytime and anywhere.
• Noteworthy, women are naturally more inclined and better at sharing their favorite items, including the journey from buying to consuming.

How Can You Support Women Businesses?

Women entrepreneurs are more proficient at producing consumer goods for women consumers and households – therefore now is great time to swap out your regular Lysol products for a more thoughtful woman-owned cleaning brand which may be less toxic and more environmentally friendly! Try the Honest brand, a beauty line that also makes household cleaners and Rebel Green, an eco friendly and natural line of cleaning products!

Did you know the “stay at home” policy has changed consumer behavior and consumption dramatically? Since the pandemic, sales of pots are soaring, accessories such as candles and knitting have grown, wellness and exercise equipment has seen growth and many people are swapping their office attire for loungewear! If you're making these online purchases, why not do the research to find some women-owned brands? You may be pleasantly surprised by the quality and it could soon become a favorite that you share with your friends.

Support Women, Support Yourself

Supporting women businesses are crucial at a time where many businesses are struggling-but especially women. Going the extra mile to research women owned brands will have a rich pay off for yourself and the woman behind the brand. Knowing that women producers have a better understanding of consumers’ psychology and preferences, they are more likely to provide satisfying products, which means a better investment for yourself.

If offered more support, women entrepreneurs will have more opportunities to expand their production, providing more cost-effective and creative products. Now is the time to shop women-owned!