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Why Women Entrepreneurs will be the Economic Force to Reckon with in 2017

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This week’s Fierce resource was originally published by CNBC and explains why women entrepreneurs will be an economic force to be reckoned with in 2017 and moving forward.

This past Wednesday we celebrated International Women’s Day across the globe and celebrated the ever-growing success of women in business. CNBC’s inaugural Upstart 25 List, featuring promising young start-ups, included 10 women-owned businesses. This only looks to increase as female-owned companies are growing at a rate of five times the national average and increased a whopping 45 percent over the last decade, eclipsing over $1.6 trillion in revenue.

This trend is not exclusive to the United States either, as rates of women’s entrepreneurship have grown 10 percent over the last two years compared to only 5 percent for men across 51 different global economies.

Per Elaine Pofeldt, CNBC, as the gender gap continues to decrease, women can look to other female entrepreneurs for guidance and advice on how to navigate the obstacles of starting a business. One of those biggest obstacles is funding for new businesses which is still much harder for women to attain.

“Crowdfunding has also helped some women gain a toehold as entrepreneurs. Although female entrepreneurs are less likely to use crowdfunding than men, they raise an average of 10.75 percent more money than their male counterparts, according to the GEM report.”

Although challenging obstacles still remain, the future is looking bright for women in business.

Read the entire article here.

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