Female founded startups are on the rise and taking their respective markets by storm. Between 2017 and 2018, women started an average of more than 1,800 businesses per day in the U.S. and women now make up more than 40% of new entrepreneurs. Is this uptick indicative of an increased pressure for women to create spaces for them to have their ideas heard or is it indicative of the freedom and the opportunities that starting a business offers? It’s likely a bit of both, but the growth in female founded startups is definitely a step in the right direction. Here are a few of the most prominent reasons it seems that many women are turning to entrepreneurship, rather than chasing a career working for someone else.
While entrepreneurs and small business owners are some of the hardest working people that exist, there is quite a bit of flexibility that comes with owning a business. For women, who are still the primary caregivers for many families, the flexibility that comes with female founded startups is appealing. A survey created by MBO Partners asked male and female independent workers and found that 74% of women surveyed said that the flexibility that comes from female founded startups is what made them choose to go into business for themselves.
Women working for themselves in female founded startups have also found that working independently offers them more control. This means they are in charge of their future and are not going to be out of work for things like restructuring or organizational change. Not only that, but they can also control who they take on as clients and who they work with as business partners.
Many women are not paid at the same scale as their male counterparts, that’s just the reality. How this gender pay gap has come about is another story for a different article, but women on average, according to the Census Bureau from 2016, earned about 80% of what their male counterparts earned. Female funded startups allow women to set their own rates and charge what their work is worth.
Nothing shatters the glass ceiling like making yourself the head of a company that showcases your talents. Female founded startups allow women to advance their careers quickly because they can throw out the opinions of the executive suite and just get work done. Hierarchy in business can be a distraction and the competition can easily be won if the competition doesn’t exist.
More than anything, female founded startups allow their owners to pursue what they are passionate about, which is at the heart of all noble entrepreneurship. If you’re driven by an idea and you can be of service to the community around you, why not make that your life’s work. There is no reason to spend one’s life stuck in an uninspiring job. Success is more about being satisfied than making money and starting a business give you the opportunity to do both!
HJR Global is an equal opportunity company and we believe in the power of female founded startups! Are you looking to start a business or thinking about funding for your existing business plan? Let HJR Global help you get your business off the ground. Contact HJR Global now.