How to Support Female Entrepreneurs and Women-Owned Businesses
Research shows that while there aren’t as many women-owned businesses as men-owned ones, the numbers are growing. So how can we keep this positive trend going and truly support one another?
Why is it important?
Here’s a stat to stop you in your tracks: female-founded companies deliver double the ROI.
Need I say more? Honestly, it’s no surprise. We all know that women are a force to be reckoned with. Jokes aside, there’s a wealth of data showing the superior financial results that can be achieved with women in leadership roles and diverse teams at the helm.
What are the challenges?
Despite their potential, female entrepreneurs face unique challenges, such as:
Struggling with self-promotion: Only 39% of women believe they have entrepreneurial skills, compared to 55% of men who, let’s face it, often seem to have no such doubts.
Unpaid labour: Tasks like childcare disproportionately fall on women, as Caroline Criado-Perez highlights in her book Invisible Women, leaving less time for entrepreneurial pursuits.
Funding gaps: Shockingly, less than 2% of all venture capital goes to female-led businesses.
These barriers make it clear: we need to do more to support women entrepreneurs.
How you can make a difference
Here are four practical ways you can help female-owned businesses thrive:
1. Shop from women-owned businesses
Adopt the principles of slow living and put more intention into your purchases. Instead of prioritizing convenience, think about how your choices can contribute to gender equality.
A great resource to start with is Buy Women Built, where you can discover amazing women-led brands.
2. Promote women-owned businesses on social media
Think your social media clout is too small to matter? Think again.
Engagement, no matter how small, helps business owners. Every like, comment, and share can boost visibility, influence algorithms, and drive traffic. Be generous with your support. It costs nothing but can mean everything to a small business.
3. Find mentorship opportunities
Share your wisdom with others. If you see a woman struggling, lend a hand.
Whether it’s navigating the corporate world or starting a business, your experience could help someone else thrive. Mentorship is a powerful way to lift others while strengthening your own network.
4. Network and join professional organisations
Networking is a crucial first step in discovering female-owned businesses. At The Rising Tide Collective, we represent over 50 women-owned businesses in the Bishop’s Stortford and Harlow area alone.
From tradespeople to financial services to self-care providers, there’s an abundance of female-powered businesses waiting to be discovered across the UK. By supporting them, you can fuel your daily life with women-led innovation.
Let’s do this
Female entrepreneurs are fighting an uphill battle, but it doesn’t have to stay that way.
Take a moment to reflect on your weekly habits:
Can you support one more woman-owned business?
Can you share a post, leave a review, or mentor someone?
Or even take it further by investing in a female-led venture?
Every action, no matter how small, makes a difference. Together, we can help level the playing field and ensure women entrepreneurs continue to rise.
By Elizabethe Dickens