Women owned businesses
According to a 2010 report, published by the Department of Labor, nearly 30% of all businesses are owned by women. Between the years 1997 and 2007, the rate of women owned businesses grew by 44% while businesses owned by men only grew by about 22%. These women owned businesses added about 500,000 jobs to the economy.
Although those numbers are 10 years old, they are still very impressive.
Why are so many women starting their own businesses? What is motivating them to jump out of their corporate jobs and venture into the deep end of self employment?
Here are 3 reasons why women are starting businesses at such a fast rate
The #1 reason that more women are starting their own businesses is that they want to have a more balanced life. The benefit of being able to set your own work hours is giving more women the chance to balance their work life with their personal life. This is especially true for women with children. Most mothers want to spend as much time with their children as possible. Women tend to feel guilty when dropping their children off at a daycare provider’s home. That separation can be a lot to bare.
Starting a home based business gives them the opportunity to work in their business, around their family life. Being able to be at home to care for their children and still bring in a supplemental income for the family, may solve both problems.
Having the time to go to their child’s school and watching the Halloween parade and making it home to cook a healthy dinner can be a strong motivator for women to start a business.
The #2 reason that more women are starting their own businesses is that the corporate world tends to pay women less than their male counterparts. It’s not just men who pay women less for the same work that a man does. Women business owners tend to do the same thing.
It’s a fact of life that women have babies. When a woman gets pregnant and that can happen at any time, they will need time off, from their jobs, to have that baby. Some women will go back to work, while others will quit their jobs in order to raise that child. Their employer may have spent thousands and thousands of dollars to hire and train that woman and then they leave their job. Now the company has no choice but to spend more money to hire and train a replacement.
Women can overcome this by starting a successful business. In fact, even the best jobs have cap on the amount of money that one can make. While a business owner can make as much money as they want as long as they are willing to put in the work.
The #3 reason why women are starting their own businesses is that in their own business, they can be who they are. The corporate world would like women to be more like men. They can do this by “checking their emotions at the front door.” Many women are finding this kind of atmosphere makes their jobs unfulfilling.
There are many home based businesses that actually welcome those feminine attributes. In fact, they are encouraged. Things like being nurturing, collaborative and supportive are great assets in some home based businesses.
If you’re a women who feels this way and you’d like to leave your corporate job, please feel free to contact me and we can discuss your options. You can email me at: richard[@]richardbrokenshire.com
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