I am president of Ventureneer, which specializes in defining and eliminating problems that hold underrepresented entrepreneurs back, especially minorities and women. Our work provides clients with branded research, training and content opportunities that generate thought-leadership, visibility, sales, and brand loyalty. I am a WE NYC and digitalundivided mentor as well as an advisory board member of Million Dollar Women, Women Startup Lab, and Aleri Research..
Between 2007 to 2012 — the period before and after the Great Recession — the number of women-owned businesses jumped 27% while privately held businesses grew only 3.3%, according to theby the Census. Average revenues for women's businesses decreased from $154,300 in 2007 to $143,700 in 2012 and privately held businesses revenue grew from $417,400 to $440,200 during the same period.
On the flip side: Women are also going for the brass ring. Between 2007 and 2012, million-dollar-plus women-owned businesses increased by 21% compared to 3.3% for all privately held businesses and between 2018 and 2019, it was 4.2% compared to 2.4%, respectively. These are the women I write about in this column.
While we are entering uncharted territory, some navigation markers will hold for the coronavirus outbreak. Women tend to have smaller businesses than men for many reasons, among them: The motivations behind starting a business also forge the journey and the specific paths taken. For example, flexibility entrepreneurs are more likely to be sidepreneurs who generate less revenue.Women also tend to be in low-margin low-revenue industries, such as child care, personal care, and home healthcare. Smaller businesses less profitable businesses will fare less well and many may shutter.
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