Women at Work
One of the most talked-about television commercials that aired during the 2025 NFL Super Bowl was a striking message from the apparel company Nike, which all but dared viewers to deny the power of women in the athletic world. The money line: “You can’t win. So win.”
Today, that same theme echoes resoundingly across a different field of play: business development.
It’s in the business arena where women, historically second to men in terms of workforce participation and business ownership, are rising in power, prestige, and undeniable economic force.
As we celebrate International Women’s Day this March, we thought it was an opportune time to recount how women have impacted the U.S. business scene.
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By the Numbers: The Power of Women-Owned Businesses
14 million:
The number of U.S. women-owned businesses as of 2024 – a nearly 14% increase from the number tallied in 2019. (The data comes from the 2024 Wells Fargo Impact of Women-Owned Businesses report, a detailed and insightful look into the impact of women in business.)
11 million:
The number of people employed by women-owned businesses (beyond founders), according to the U.S. Small Business Administration’s Office of Advocacy.
$2.1 trillion:
The total revenue associated with U.S. women-owned per the SBA’s research.
40%:
The share of all U.S. businesses owned by women (from Wells Fargo).
The Pandemic’s Impact on Women Entrepreneurship
One key driver of women-led business formation was the COVID-19 pandemic, which began in 2020. This health crisis was known to have spurred entrepreneurial activity in general, as layoffs and other considerations prompted a surge in everything from side hustles to well-capitalized startups. However, the incredible impact women-owned businesses had on this surge was undeniable.
During the pandemic, women-owned businesses added 1.4 million jobs and $579.6 billion in revenue to the economy, per Wells Fargo. What’s more, the number of new start-ups launched by women during the pandemic was greater than the number of women-owned businesses that closed their doors; in contrast, businesses owned by men produced a net decline over the same time period.
But start-ups are only part of the story. Women are also succeeding at growing their businesses. Per Wells Fargo’s research, between 2019 and 2023, nearly 500,000 women-owned businesses with revenues between $250,000 and $1 million grew their aggregate revenues by about 30%. That’s an accomplishment in business growth that just about any entrepreneur would prize.
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Longstanding Challenges for Women in Business
The unimpeachable rise of women business entrepreneurs is impressive and welcome, but it’s by no means a signal that women at large are now on an even playing field in the business arena. Longstanding challenges around gender discrimination, access to funding, and broad cultural presumptions continue to pose challenges.
It’s naïve to suggest sexism in the business world isn’t real; of course it is. But in some cases, it has fueled motivation for women to exit bad workplace environments and launch their own businesses, as recounted in this revealing Business.org writeup about women’s entrepreneurship.
There has also been evidence of surging entrepreneurism among women of color. Between 2019 and 2023, Black/African American women-owned businesses saw average revenues increase by 32.7%, and Hispanic/Latino women-owned businesses experienced a 17.1% rise, compared to a 12.1% increase for all women-owned businesses, Wells Fargo reported.
Taken together, the statistics tell a story of a shifting business environment — one where women are playing a bigger-than-ever role in business formation, collaboration, and innovation.
Resources to Help Women-Owned Businesses
Many online resources are available to help women entrepreneurs navigate common business challenges and uncover helpful solutions.
Here are some noteworthy resources to explore:
A membership organization that fosters community, networking, and collaboration opportunities to uplift women business owners.
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Funding Sources
Finally, there’s one attribute every business desires: funding.
Here are some of the grant programs available for women-owned businesses:
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Empowerment for the Next Generation of Women Entrepreneurs
With women playing a bigger role than ever in business formation, collaboration, and entrepreneurial verve, it’s essential to have the right tools and strategies in place to pave the way for success.
Business Services Connect’s providers are here to deliver the Internet connectivity and cybersecurity services needed to support a new generation of business activity – because when women-owned businesses thrive, the entire economy thrives.
