Loading...
Quintessential Careers Blog |
Call to Action: Why You Should Work for a Women-owned Company Posted: 04 Apr 2016 07:00 AM PDT Women-owned companies are growing in popularity. As more start-ups appear on the landscape, more established organizations are gaining ground, expanding, and hiring new employees. If you’re looking for work, one of these employees should be you.
As women gain a stronger foothold in the workplace and public life in general, it stands to reason that the number of companies owned by women would show a corresponding steady rise over the past five, 20, and 90-year timelines. And they have. But as it happens, women-owned businesses have experienced an especially steep increase during the years since the 2008 recession. For example, in Southern California, the number of women-owned businesses grew by 35% during the otherwise dismal economic years between 2007 and 2012, (increasing to 39.2% of all local businesses in the area).
This surge in female-owned businesses, especially during hard times, can tell us something about the resilience and savvy of the women who own them. And the bottom line is clear: if you have the opportunity to sign on with a woman-owned company, you should.
Revenues and profits of women-owned businesses are on the rise
According to a study by Biz2Credit, the profits and revenues of women-owned businesses rose by 12% in 2015 from averages of the previous year. This may be partly due to more available loans and credit across the board; improving economic conditions and very low interest rates create a favorable climate for new entrepreneurs (these are the conditions that have characterized the landscape over the last few years).
Women are leaning toward entrepreneurship in greater numbers
Along with lower startup costs and more accessible loans in recent years, many other factors (some of them unclear) are attracting more and more ladies to the risks and rewards of business ownership. The Biz2Credit platform received a 130% annual increase in credit requests from women in 2015, which indicates a spike in interest.
Gender-gap problems remain
Unfortunately, approval rates for female-owned businesses are still 33% lower than approval rates for men in 2016. This may be partly due to a slightly lower credit rating on average among lady entrepreneurs seeking loan capital (600 for women versus 615 for men), but it may also be due to entrenched gender bias among lenders.
What’s next?
If you’re a woman and you’re thinking of starting a business, now may be an excellent time to do so. Consider taking advantage of accessible credit and falling start-up costs (much of the traditional cost of launching a business comes from building leases, hiring, and tasks that can now be conducted virtually). If you’re a job seeker, turn your attention to these women-owned start-ups and established enterprises. Find out how your skills can help you get in on the ground floor.
Work for a new company that can grow with you, or work for a tested and proven market leader, but in either case, seek an organization with a women in the driver’s seat. Sign on with a promising company now and you’ll become part of the future and position yourself for financial and personal career growth in the years ahead. For more on how to find and apply to female-owned businesses in your area, explore the resources at Quintcareers. The post Call to Action: Why You Should Work for a Women-owned Company appeared first on Quintessential Careers Blog. |
You are subscribed to email updates from Quintessential Careers Blog. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
Google Inc., 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States |
Loading...
Loading...