October marks National Women’s Small Business Month! In October, we celebrate all of the women-owned businesses around the world and their impact on the economy. First, let’s look at a bit of the history behind women-owned businesses.
In 1972, there were a little over 400,000 women-owned businesses in the United States. It wasn’t until 1988 that the Women’s Business Ownership Act increased SBA’s access to capital to provide more financial assistance to women-owned small businesses. By 2019, women-owned businesses represented 42% of all U.S. businesses and generated $1.9 trillion worth of revenue. Today, there are over 13 million women-owned businesses and counting across a wide variety of industries
The vast majority of small businesses bring in revenue and provide value for the communities that they’re a part of. Small companies are more likely to support local organizations, schools and projects and they provide a tremendous number of jobs that help boost the local economy.
The SBA provides several resources for women-owned businesses to help them grow and become certified. Head to SBA.gov to enter your information and to learn how to grow your business with the free Ascent learning platform.
Finally, the Desktop.com team would simply like to take this opportunity to celebrate and acknowledge all the female-owned small businesses that we surround ourselves with. We hope that the number of small businesses keep increasing and that it can keep inspiring other entrepreneurial minded women to make the leap.