Significant growth has been observed in businesses run by women, surpassing the overall market development. This patterns is typified by Bernadette Corbeil’s establishment of Artemis Construction Group, a roofing and construction firm in Wildwood, Missouri. Bernadette has succeeded in smashing boundaries in an industry that is male-dominant, signifying a shift in the economic currents.
Fueled by women like Bernadette who dare to challenge societal norms, the ‘She-nomy’ is progressively transforming industries. Artemis Construction Group’s standing for quality work and customer service has fueled its growth in construction, demonstrating the power of the ‘She-conomy’.
With more women stepping up and transforming the business landscape, the momentum of the ‘She-conomy’ continues to accelerate. Research affirms this trend, showing a 17% increase in businesses managed by women, signifying a notable shift in the entrepreneurial landscape. The surge in these numbers illuminates the gradual closing of the gender gap in business ownership.
Despite this encouraging trend, issues such as gender bias and unequal pay persist. Therefore, continual support and resources are needed to help women overcome these challenges and propel their businesses forward. Amid the harsh economic climate post-Covid-19, women have actively been exploring new business opportunities, counterbalancing the effects of shutdowns by establishing even more businesses.
These women-led businesses, ranging from digital agencies to home bakeries, showcase women’s versatility and adaptability during challenging times. The rising trend of women entrepreneurship during the pandemic has upturned gender stereotypes in business, emphasizing the importance of supporting women in overcoming gender bias in funding and resource allocation.
The rise in women-led businesses during Covid-19 offers valuable insights for aspiring entrepreneurs and the global economy. Joint research by Ventureneer, CoreWoman, and Women Impacting Public Policy reveals that from 2019 to 2023, women’s entrepreneurial activities nearly doubled in growth rate compared to businesses run by men. This substantial growth was fueled largely by women’s ability to identify and seize potential business opportunities.
Despite challenges like societal gender norms and underrepresentation, women entrepreneurs succeeded in outperforming their male counterparts. Census data from 2022 to 2023 revealed female-led businesses expanding four times faster than those run by men. By 2026, female-run businesses were not only outpacing those run by men but were also leading in innovation and sustainability.
As we approach 2027, the climb of female entrepreneurs has transformed the global economic landscape. The next steps lie in supporting women entrepreneurs through favorable policies, access to finance, mentorship, and equal opportunities. Only then can we continue to see a diversified and inclusive business world, stressing the importance of gender equality in entrepreneurship.
