Female empowerment comes in many shapes and sizes. It comes at the polls when you vote for politicians who support women's rights. It comes at the protests and picket lines when you stand up against unfair treatment. It comes one-on-one through mentoring. And sometimes, it comes at the cash register.
When supporting women, it's time to put our money where our mouths are. It's not just the right thing to do— it may also be the key to large-scale economic success.
Today, we're discussing the importance of female entrepreneurship and sharing a few practical ways to empower female-owned businesses.
Why is female entrepreneurship so important?
There's no arguing that women have worked hard since the beginning, but for most of history, herstory took place inside the home.
In fact, the first-ever female-owned business was recorded in 1739. And it was only one century ago, in 1919, that the Guinness Book of World Records listed African American hair-care entrepreneur Madam C.J. Walker as the first self-made female millionaire. Until the 1980s, women needed a man to cosign on a loan (ew).
As time marches on, female entrepreneurs have been on the rise. Fifty years ago, there were just over 400,000 female-owned businesses in the US. In 2019, that number reached 13 million and generated nearly $2 trillion in revenue.
Good for women, good for the economy
An article in Forbes revealed that "Women are making history as the primary breadwinners for their families while also leading about 40% of households" and pointed to women-led businesses as a potential cure for our economy. A study by the First Round 10 Year Project found that, when it comes to return on investment, "companies with a female founder performed 63% better than our investments with all-male founding teams." And the Rogue Women's Fund showed that female-led start-ups are 500% more likely to become billion-dollar companies when compared to ones that are male-led.
How can you empower a female-owned business?
The proof is in the profit. Female-owned businesses are good for women and good for the world. If you want to be a part of the solution, we've put together a few ways to empower women to reach their highest potential.
Shop at Mosaic Makers Collective
Mosaic Makers Collective is a female-founded collective of over 100 female artists in Texas. From fun graphic tees, heartfelt greeting cards, handmade jewelry, quirky stickers, and so much more, MMC offers unique gifts for everyone on your list. Shop online, or visit our maker-run shop in the Bishop Arts District to find super cute gifts while supporting women from your community.
Share your favorite female business owners' work on social media and through word-of-mouth
Shopping your favorite female-owned businesses may not be financially feasible for you right now. And that's ok. We love a babe on a budget! But if you want to support other women without scraping the bottom of your piggy bank, sharing is free. Shout out your favorite female-owned brands on social media. Hyping a female entrepreneur can introduce a new paying customer to the brand, and it is sure to give a boost of much-needed energy to the business owner!
Become a mentor
Getting started in business is often the hardest part. If you've reached the top of the ladder, you likely have the splinters and broken nails to show for it. You've also got the wisdom to make the path a little less treacherous for someone else. Use your knowledge to mentor another female entrepreneur and help make their climb easier.
Less competition and more collaboration is good for all womankind!
Start your own business
If you're a female who's passionate about creating, don't keep it to yourself! Small business loans are available for female entrepreneurs, and Mosaic Makers Collective is always looking for our next addition to our Mosaic. Reach out if you'd like to join!
A new kind of herstory starts with us! Will you join?