National Women’s Small Business Month is designed not only to celebrate women-owned businesses across the United States but also to encourage other women to start their own businesses. According to recent studies, women own approximately 42% of businesses in the United States, and women-owned businesses generate over $2 trillion annually for the economy.

It’s pretty easy to see how important women-owned businesses are to the economy, so let’s all take the time to celebrate them and encourage their growth. And this month is the perfect time for that celebration.

The History of National Women’s Small Business Month

This month was created in 2012 by the Small Business Administration (SBA). They created this month to promote women-owned businesses in the U.S. and to give a voice to women business owners.

Every year, they organize a variety of events that are observed across the country. These include seminars, webinars, and advertising campaigns that spread the word about it nationwide.

Exciting Facts About Women-Owned Businesses

Since we’re on the subject of women-owned businesses as we celebrate National Women’s Small Business Month, we thought we’d take the time to find some statistics on the subject. What we came up with are the following facts that we feel everyone will find informative, if not interesting.

• There are over 12.5 million women-owned businesses in the United States.
• In 2021, women started over 1,800 new businesses every day of the year.
• Approximately 64% of new women-owned businesses were founded by minority women.
• Over the past two decades, the number of women entrepreneurs in the U.S. has increased by over 114%.
• Only 1 out of 4 female business owners seek business financing.
• Although men have a 61% success rate for crowdfunding their businesses, women have a 69.5% success rate.
• Women receive only about 7% of all venture funds for their startups.
• On average, women receive $5,000 less for the average business loan than men do.
• In 2021, Latina-owned businesses increased by almost 90% over the previous year.
• Private tech companies with women CEOs have a higher return on investment than companies headed by men.
• Over 40% of businesses in the U.S. are owned by women.

Observing National Women’s Small Business Month

This month can be observed by supporting women-owned businesses in the community and by women sharing their experiences with other business owners. People can also spread the word about this month using the hashtag #WomensSmallBusinessMonth on social media. This is also the perfect month for women-owned businesses to network and support one another.