The 6th annual Women-Led Wednesday is coming up! On November 22, 2023, consider shopping at women-led companies. You’ll not only be ticking gifts off the Xmas list but also support women leaders. For the holiday, personal finance writer Lyric Mott guest posts on US trends revealing women’s financial power and success.
Guest post for Women-Led Wednesday
It’s incredible to see how women are shattering glass ceilings like never before. Whether it’s entrepreneurship or corporate leadership, women are making their mark and proving they are just as capable as men.
And the best part? With each passing year, the number of women-owned businesses is growing at an impressive rate. And their financial influence is on the rise. It’s time to recognize and celebrate the amazing accomplishments of women in business and their positive impact on the economy as a whole.
Currently, women wield approximately $10 trillion in financial assets within the U.S.
The financial power of women in the United States cannot be underestimated. With approximately $10 trillion in financial assets under their control, women are already significantly impacting the economy.
But what’s even more inspiring is that this number is expected to triple by the close of the decade, reaching a staggering $30 trillion. This surge in financial power will provide women with increased financial autonomy and security and have a ripple effect on the entire economy.
We can continue to fuel this growth and create a more equitable and prosperous future for all by investing in women-led businesses. And by participating in events like Women-Led Wednesday.
This event takes place on the fourth Wednesday of every month. Women-Led Wednesday encourages people to buy from women-owned businesses, support female entrepreneurs, and celebrate the incredible achievements of women in business.
Women-owned companies rose 16.7% between 2012 and 2019, compared to 5.2% for men-owned businesses.
The rise of women-owned companies is a testament to the resilience and determination of women entrepreneurs. Between 2012 and 2019, the number of women-owned businesses rose by an impressive 16.7%. Compared to just 5.2% for men-owned businesses.
This growth is a clear indication that women are not only capable of starting successful businesses but that they are doing so at an unprecedented rate. It’s good for the economy and opens up new opportunities for women to break into traditionally male-dominated industries and pave the way for future generations of female entrepreneurs.
In 2022, 60% of women-owned businesses displayed profitability.
The profitability of women-owned businesses clearly indicates that women are not just breaking into the business world but thriving in it. In 2022, 60% of women-owned businesses displayed profitability, demonstrating that women entrepreneurs can start successful businesses and run them with great success. This success results from the hard work, dedication, and innovation of women entrepreneurs who refuse to let gender-based barriers limit their potential.
We can create more opportunities for female entrepreneurs and contribute to the economy’s prosperity by supporting and investing in women-led businesses. The future is bright for women in business, and we can’t wait to see what’s next.
About today’s writer
Lyric Mott is a Louisiana native with years of experience writing and editing for financial clients and high-traffic media publications, like Money Morning and Women Who Money. She specializes in various personal finance topics, from beginner investing to all things credit. She expertly blends this work with social media and product marketing skills, developed while working with tech startups like ChipBot.
For Women-Led Wednesday: Over to You
How inspiring that US women’s financial power is expected to reach $30 trillion by the end of this decade! What specific actions can individuals take to boost the success of women-owned businesses beyond Women-Led Wednesday? What benefits could this surge bring for women and the economy? Comment below!
Photo of Lyric Mott used with her permission.