Robert Clampett Senior Contributor
Lunched in 1911 to encourage and celebrate advances made by women in the business world, International Women’s Day keys on March 8th each and every year, celebrating social, economic, cultural and political achievements of women everywhere.
But this year it means more than ever as more women worldwide take strides to enter and even own their own businesses, large and small, with their impact felt globally,
For example, in the United States women own approximately 12.3 million businesses—a whopping 42% of all firms nationwide. As of 2019, women of color account for 50% of all women-owned businesses, according to the American Express State of Women-Owned Business Report.
The majority of women small business owners, about 22%, work in retail or e-commerce, followed by health, beauty and fitness services. Among other top-ranked fields for women ownership were firms in business services, food/restaurant and education, including training services, according to Guidant Financial Services, a financial firm.
Progress has also been seen on Wall Street with an influx of women making their marks at the highest levels of finance and in boardrooms of Fortune 500 firms. Women as CEOs of major corporations are on the rise. Similar growth in the number of women in government has been growing at all levels, from school boards to the vice president of the United States, Kamala Harris.
More than half of the women who launched their own business because they’re ready to be their own boss, according to the Guidant Financial report. Others found themselves dissatisfied with the corporate world, or were ready to strike out on their own in order to follow their personal passion, the report said.
So women of the world—go ahead and start that venture you’ve wishing for. If not ready for full time business ownership, consider part-time, sideline enterprises.
Whether ruling Wall Street, the corporation or the food truck—OWI salutes on this magical day in the midst of what is now a celebration of Women’s History Month, each and every March.