{"id":8410,"date":"2023-10-02T08:00:37","date_gmt":"2023-10-02T15:00:37","guid":{"rendered":"https:\/\/www.nationalfunding.com\/?p=8410"},"modified":"2024-03-19T08:28:58","modified_gmt":"2024-03-19T15:28:58","slug":"october-is-national-womens-small-business-month","status":"publish","type":"post","link":"https:\/\/www.nationalfunding.com\/blog\/october-is-national-womens-small-business-month\/","title":{"rendered":"October Is National Women&#8217;s Small Business Month"},"content":{"rendered":"<p>It\u2019s always a good time to show some love to your favorite women-owned businesses, but especially now since October is National Women\u2019s Small Business Month. Originally started by the National Women\u2019s Business Council, Women\u2019s Small Business Month is a time for people all over the nation to highlight and honor the contributions\u00a0women have made to the business world.<\/p>\n<p>In 1988, women still needed a male relative to co-sign a business loan application. The <a href=\"https:\/\/www.nwbc.gov\/\">National Women\u2019s Business Council<\/a> was established in 1988 as part of a landmark legislation that removed barriers to women in the workforce and provided support to female entrepreneurs. Now, there are over <a href=\"https:\/\/advocacy.sba.gov\/2023\/03\/21\/facts-about-small-business-women-ownership-statistics\/#:~:text=Women%20business%20owners%20own%20over,businesses%20to%20the%20U.S.%20economy\">12 million women-owned businesses<\/a> in the U.S., employing over 10.1 million workers, and responsible for over $2.1 trillion in total sales. According to <a href=\"https:\/\/www.forbes.com\/sites\/rohitarora\/2023\/03\/08\/women-owned-businesses-thrived-in-2022\/?sh=69ba9206dd4e\">Forbes<\/a>, average earnings for women-owned businesses increased 27% in 2022. We\u2019re proud to say women-owned businesses have not only come a long way since the 1980s, but provide significant economic impact to their communities.<\/p>\n<p>However, women still face unique challenges as business owners. While they have made significant strides in recent decades, male entrepreneurs still outnumber female entrepreneurs. Women experience barriers in getting the <a href=\"https:\/\/www.nationalfunding.com\/who-we-serve\/business-loans-women\/\">necessary resources for their business<\/a> and are less likely to get approved for funding. According to the <a href=\"https:\/\/www.bcg.com\/publications\/2018\/why-women-owned-startups-are-better-bet\">Boston Consulting Group<\/a>, women are provided with significantly lower funding than men, if they are approved for a loan. Despite this barrier, women-owned businesses typically delivered more than twice as much revenue per dollar invested over a five-year period. This goes to show women-owned businesses often make a great investment.<\/p>\n<h2>Women in the workforce<\/h2>\n<p>While women in the workforce have made major strides in recent decades, women in the workforce still face challenges as well. On average, women are paid 22% less than men, according to the <a href=\"https:\/\/www.epi.org\/blog\/gender-wage-gap-widens-even-as-low-wage-workers-see-strong-gains-women-are-paid-roughly-22-less-than-men-on-average\/#:~:text=The%20gender%20wage%20gap,-Between%202019%20and&amp;text=Women%2C%20on%20average%2C%20were%20paid,from%2022.6%25%20to%2022.9%25\">Economic Policy Institute<\/a>. This statistic is consistent across education level and years of experience. While women are more likely to graduate from college, the more education a woman has actually widens the wage gap from her male colleagues with the same education.<\/p>\n<p>Barriers to women in the workforce are still prevalent, despite the significant power women hold in the economy. Women-owned businesses account for 42% of businesses nationwide and should have equal access to important business resources. At National Funding, we eliminate traditional barriers to funding and make it easy for all business owners across a variety of industries to access funding. We tailor each <a href=\"https:\/\/www.nationalfunding.com\/small-business-loans\/\">financing solution<\/a> to the specific needs of the business to help business owners achieve their goals.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>October is National Women\u2019s Small Business Month, and it marks the perfect opportunity for women to start their own business.<\/p>\n","protected":false},"author":33,"featured_media":195839,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[26,13,112,14],"class_list":["post-8410","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-trends","tag-alternative-lenders","tag-business-conditions","tag-funding-for-women-owned-business","tag-small-business-loans"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>October Is National Women&#039;s Small Business Month<\/title>\n<meta name=\"description\" content=\"Women-owned businesses play a vital role in our economy, accounting for 42% of businesses. Celebrate National Women\u2019s Small Business Month.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.nationalfunding.com\/blog\/october-is-national-womens-small-business-month\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"October Is National Women&#039;s Small Business Month\" \/>\n<meta property=\"og:description\" content=\"Women-owned businesses play a vital role in our economy, accounting for 42% of businesses. 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