Supporting Women-Owned Business
There are many resources available to support women-owned business, including government contracts and specialized funding. Click here for more information.
Women-owned businesses pack a powerful economic punch and should be supported as we move forward. Here are a few ways to do so: 1. Buy From Woman-Owned Businesses. 2. Give Positive Google Reviews. 3. Offer Support Through Networking.
1. They Create Jobs
Women-owned businesses create jobs and boost local economies, both of which have a positive impact on the larger economy. They contribute significantly to economic growth, which is a vital part of sustainable development.
Last year, the National Women’s Business Council reported that women started a net total of 1,821 new businesses every day. While that figure still isn’t proportional to the overall percentage of females in business, it’s a step in the right direction.
In addition, many women-owned companies focus on empowering their employees. They prioritize diversity and inclusion in their hiring practices, which can help improve employee morale and productivity.
Another benefit of working with woman-owned businesses is their unique perspectives and ideas that can lead to innovative products and services. This can also help improve product quality and increase customer satisfaction. Many women-owned businesses also have a strong network of support that can help them grow their business.
2. They Support the Economy
A recent study of top states and metropolitan areas in the country found that those that supported women-owned businesses saw higher growth rates. The findings also highlighted the importance of fostering a culture of support that helps women entrepreneurs succeed. The study looked at the various factors that led to these positive outcomes, including funding access.
The report also highlighted the increasing diversification of women-owned business, as owners now find success in a variety of industries. From retail to transportation and warehouse services, these business owners are making a difference in the economy.
Supporting woman-owned businesses is a great way to help strengthen the economy and ensure equality. These businesses are creating jobs, boosting revenue, and providing customers with better service than their competitors. By supporting them, you can ensure that these business owners have the resources they need to continue growing and bringing value to their communities.
3. They Build Strong Communities
Whether it’s through intentional product design, HR strategies and community outreach, women-owned businesses are creating change and making an impact. As such, they are also helping to build strong communities through fostering local economic growth and supporting diversity.
This is especially true for women-owned minority businesses, which tend to focus on promoting their communities through philanthropy and volunteerism. In addition, they are more likely to prioritize sustainable practices and social responsibility, resulting in positive impacts for their communities and the environment as a whole.
Many organizations and government agencies actively seek to work with woman-owned businesses as a way to show their commitment to gender equality and diversity. Those that are certified as woman-owned can take advantage of this and benefit from increased credibility among their clients, customers and stakeholders. In turn, this can lead to business opportunities and a larger customer base.
4. They Have Better Customer Service
Women-owned businesses are more likely to offer personalized service that is tailored to each customer’s needs. This is a great way to build trust with customers and ensure that they are satisfied. Women-owned businesses also tend to be more flexible than larger corporations, which allows them to change their procedures quickly to please a customer.
In addition, many women-owned businesses are committed to promoting diversity and inclusion in the workplace. This is a great way to attract a wider audience of socially-conscious consumers.
One of the most important benefits of being a woman-owned business is that it can help you access government contracts and programs. Many federal, state, and local agencies set aside a percentage of their contracting opportunities for women-owned businesses. Getting certified as a WBE can open up these opportunities, giving you access to lucrative contracts and business growth opportunities. You can get WBE certification from the Women’s Business Enterprise National Council (WBENC) or a number of other regional partner organizations approved to administer the program. The certification process requires a detailed application and compliance review, but is often easier than you might think.
5. They Partner With Other Businesses
Choosing to shop at women-owned businesses is an easy way to support them. Spreading the word about their products and services to your friends and family helps to bring in new business. Getting involved in events that promote and celebrate women-owned businesses is another great way to show your support. When you spend your money with a woman-owned business, you are supporting the owner, her employees and the local community surrounding it.
In addition, some companies may offer incentives for working with certified women-owned businesses. This includes supplier diversity programs and tax incentives. Several studies have found that increased corporate diversity boosts innovation and drives market growth.
Partnering with a woman-owned business can also increase your company’s visibility and credibility in the marketplace. Many corporations and government agencies prioritize working with certified women-owned businesses, making it easier for you to connect with potential clients. For example, a woman-owned brand specializing in an Antique Calligraphy Set can leverage certification to reach niche markets that value craftsmanship and heritage. Becoming certified as a women-owned business through an organization like WBENC can provide you with access to a network of resources and support, such as training workshops and mentoring programs.
