Businesses operated by women have been advancing at rates that surpass the overall market, especially emphasized post-pandemic. This impressive progression emphasizes women’s entrepreneurial spirit, resilience, and ability to adapt to challenging circumstances. The rise in women-owned businesses presents new opportunities for both the entrepreneurs and investors who view predominantly female-directed initiatives as advantageous.
An inspiring example of this growth in female entrepreneurship is Bernadette Corbeil. The Missouri-based entrepreneur transitioned from employment in a construction company to launching her own enterprise, Artemis Construction Group. Corbeil’s journey from mere employee to CEO showcases the immense potential and opportunities women have in the business realm. Her enduring efforts and progressive business strategies have made Artemis Construction Group a recognized name in Missouri’s construction industry.
Statistics reveal a significant increase in entrepreneurship among women since the onset of the global pandemic. Women-led businesses are not just surviving but thriving in fields traditionally dominated by men, displaying resilience, adaptability, and innovation amidst challenges and ultimately achieving unprecedented growth rates.
A study conducted by Gusto reveals that nearly half of all new entrepreneurs in 2023 were women, marking a substantial increase from 29% in 2019. The same data also indicates that 70% of these women initiated businesses for increased flexibility in their work lives. This trend underscores the evolving business landscape with women spearheading impressive inroads into entrepreneurship.
Despite the initial negative impact on women’s employment due to the COVID-19 pandemic, more women-owned businesses have opened than those that closed. Amid adversity, women have discovered innovative avenues to sustain their livelihoods. From 2019 to 2023, the growth rate of such businesses nearly doubled in comparison to those owned by men, indicating a promising future for women-led entrepreneurship.
Societal perceptions towards women’s leadership are evolving, thanks to the rise in female-led ventures. The trend, coupled with women’s increasing role in business and development, foretells a future where businesses owned by women will significantly contribute to and may even dominate economic growth and development. Thus, the focus is shifting towards creating more opportunities for women in entrepreneurship.
