Businesses have always been one of the greater pillars of our society.

They have created jobs, provided services, and helped their communities grow. Throughout history, women have played a major role in business. Thus, women have faced significant barriers and challenges, including obstacles related to equal treatment, opportunities, and funding.

Today, female entrepreneurs have created successful companies, inspired others, and impacted the business world in a meaningful way.

Yet, there are many ways we can continue to support and encourage our society to see the benefits they offer. That is why it is more important than ever to support women-owned small businesses.

Women began to own their own businesses hundreds of years ago, starting in the late 1700's. They have helped shape the history of business and play an important role in doing so. There have been many women who have forged their way through history to become business owners.

An honorable mention is Madam CJ Walker, who in 1905 became the first female self-made millionaire in America. Her success has shown that there is wealth, opportunity, and lasting change for communities though entrepenuriship.

Today, 42% of all US small businesses are women-owned since 2019. Since then, female entrepreneurship has created jobs, strong communities, and shaped the idea of future entrepreneurship for others.

The Economic Impact Of Women-Owned Small Businesses

Supporting women-owned small businesses comes with its economic advantages, which are changing the way small businesses operate. It will strengthen their local economies and create opportunities for others. By owning their business, women create their own path to success. There are many owners who use their gains to reinvest in their communities, families, and economic growth.

Women tend to prioritize social responsibility, community involvement, and diversity in their businesses, which can lead to a more equitable and sustainable future for all.

As there are great advantages for female entrepreneurs, there are disadvantages, such as financial disadvantages. The gender wage gap still relevant today remains the topic of discussion for many women in multiple industries. Due to these circumstances, women look to entrepreneurship to free themselves from financial disadvantage and the traditional workplace.

With the support of the communities surrounding women and their business, it creates the financial freedom and independent wealth that has shifted away from gender discrimination. Also, giving women the opportunity to create generational wealth and financial security for their families.

In 2026, the uncontrolled gender pay gap is $0.82, meaning that women collectively earn 18% less than men based on how they’re paid for the jobs they have now.

Giving women a disadvantage when it comes to supporting themselves and their families. When women-owned small business are supported, it can go beyond the opportunities for one company. It focuses more on economic growth and equal opportunity.

Why Supporting Women-Owned Small Businesses Matters

Supporting women owned small businesses, there are guarantees for the community that result in great outcomes. They create local jobs for millions, increasing the tax base, and give back to their suppliers and partners in their communities.

When the community is reinvested in, it develops more frequent spending that prioritizes education, health, and family well-being.

Women-owned businesses will frequently reinvest into schools, local events, charities, and organizations that benefit others in a positive way. Supporting it will give the opportunity to invest in a future built on opportunity, innovation, and lasting social impact. 

Innovation and New Perspectives

Communities are often the ones that benefit the most when they choose to shop women owned. The greater spending increases the success of businesses, allowing employees to earn more and spend more in the community.

Also, allowing female entrepreneurship to cater to the community provides more creativity catered to the consumer with fresh and new perspectives. Driving the innovation that brings new ideas and diverse consumer solutions when purchasing.

A strong example of innovation would be Sara Blakely. The founder and CEO of Spanx, the shapewear company that revolutionized women's apparel as far as undergarments go. Created her company after recognizing a common problem many consumers had.

She started with one idea and built a global brand. Started with $5,000 in savings and the idea of cutting the feet off her pantyhose, Blakely built Spanx into a global brand and became the world's youngest self-made billionaire in 2012. Her success demonstrates how unique experiences and perspectives can lead to innovative ideas.

Thus, with support, most women-owned small businesses are able to create greater representation of themselves in the community. These women become visionary leaders, mentors, and role models for the future generation of women.

Enticing the younger generation of young women to follow similar paths and pursue entrepreneurship or leadership opportunities. Also, strengthening the neighborhoods and encouraging long-term economic growth.

Representation can influence future generations in powerful ways. Whitney Wolfe Herd became one of the youngest female CEO's to take a company public. Known for launching Bumble Inc., the women-first dating and social platform in 2014. Her success challenged traditional ideas of leadership and inspired younger entrepreneurs to believe their goals are achievable.

The Long-Term Benefits of Support

When it comes to supporting women owned small businesses, there are countless ways that you can. When they are successful, they can truly bring a community together by improving the community, creating jobs, and inspiring others. When inspiring others, it can create the desire for determination, leadership, and progress.

Giving female owners the chance to impact the economic growth, diversity, and innovation. The purchasing power of the consumer has more of an impact than they realize.

It can help shape the future of the economy, and the support of businesses creates a positive change. When consumers make a decision to support women-owned small businesses, it is more than a decision; it is an investment.

How to support

The support for female entrepreneurs can last for years. You can look for those businesses near you or in your community to purchase product and or services. You can shop by searching on multiple social media platforms using hashtags like #womenowned or #smallbusiness. There are even badges that read "women-owned business" that can be found on sites such as Yelp.

Leaving reviews, tagging on socials, engaging with business content, and attending local events. These are simple tasks that all businesses are able to truly gain legitimate exposure within their communities. The good news is that spending large amounts is not the only way we can support, but small actions can create a greater, meaningful impact.

Simply, as word of mouth recommendation from family and friends. These recommendations can help gain an entirely new audience and strengthen consumer relationships.

The power of supporting and uplifting when consumers choose to extends beyond a purchase or interaction. It gives businesses, entrepreneurship, and the community the gateway to long-term success. With the continuation of encouragement, opportunities can be created to truly inspire the future generation of enterpurers.

🪽 Written by Victoria Morgan