In honor of International Women’s Day, we wanted to shift the topic of this blog to women in business supporting women-owned businesses.
In the past 10 plus years, there has been a steady growth of women who were starting up businesses. As of 2019, nearly 20% of the nation’s firms (who employ others) were owned by women and the number of women-owned businesses (which adds in self-employed) is even higher at 42% according to this 2021 Forbes article.
Positive Growth in 2020
More women started businesses in 2020 than men which is an encouraging statistic in spite of the struggles due to the pandemic. In spite of impact due to Covid-19 – with virtual schooling (kids at home), restrictions of commerce due to mandates, social distancing, and closures of businesses who could not achieve “essential” status – women are showing they are resilient. There has been a growth of women in business and we are proud to share this positive news.
These female entrepreneurs made it work. They changed their businesses, started new ones, and adapted to grow!
Supporting Female Entrepreneurship
We see this first hand. More than ever there is a push by women to continue to support aspiring entrepreneurs and especially female leaders who are deciding to go out on their own and start up a new business.
Our founder, Mary Ann Robinson is one of these women. She has been there, done that.
With over 15 years of owning her own ISO and merchant services company, she has made a point to coach, mentor, and guide female business owners. In particular, she has helped single mothers achieve their goals and has been a sounding board, more than just a financial services provider.
Starting a business and developing one that is profitable and continues to grow is not easy, so having a list of trusted suppliers to help get there is – actually – essential.
Throughout these last two years, TransAct, under Mary Ann’s leadership has helped women-owned businesses, non-profits, and professional organizations to maintain their course and stay open and operating while reducing expenses to address the changing financial and economic landscape.
The US Census reported in the spring of last year that there was nearly a 1% increase in the growth of female lead businesses. We can continue to help push that number forward, with focus, dedication, and a belief that anyone can own a business if they put their mind to it.
Do the research, find trusted suppliers, and receive the right guidance to succeed. Don’t be afraid to ask for help – whether you are an aspiring woman business owner or an existing business who needs some support.
It takes more than inspiration to start a business. You need to be dedicated, work hard, work smarter, and lean on the right people. You can lean on TransAct. Schedule a one-on-one today to learn more and get started. Become a part of the movement to support women in business and help new business owners succeed. Learn more on how you can help and be a part of International Women’s Day each year.