October is National Women’s Small Business Month which feels bittersweet as we witness the creeping impact of Covid-19 on the small businesses community overall; but particularly on women-owned businesses. It’s even more difficult to watch women lose past gains when, with just a bit more support, they could transform our economy.
What does help look like? It is committing to #BuyWomenOwned. And to identifying and supporting the women-owned businesses in your community. It means spreading the word as well.
And remember that this isn’t just a measure of solidarity… it makes good business sense. Because women are creating the goods and services we want and need. So discovering new brands and businesses that deliver on delight is a win-win for everyone.
Standing Together: #BuyWomenOwned
So today we stand with the Women’s Business Enterprise National Council (WBENC) as part of their #BuyWomenOwned Collective in an effort to raise awareness of the great women-owned businesses you should shop now. Launched today, and lasting through October, the campaign is raising awareness for the why, where and how of #BuyWomenOwned.
What you need to know this Women’s Small Business Month:
- There are 13 million women-owned businesses in the U.S., representing 42% of all businesses. And yet, women-owned businesses are only 8% of the total workforce and 4.3% of total business revenues.
- Nearly 7 million Americans (primarily women) aren’t employed because they have to take care of children, according to a Sept 2020 Census survey (leaving little room for innovation; running businesses; or patronizing any other women’s businesses).
- Women of Color are 50% of all women-owned businesses in the US; having created 89% of the net new women-owned businesses per day in 2019 (According to American Express); and have now found themselves in a year where minority-owned businesses are closing at twice the rate as white businesses.
- Also according to American Express, four million new jobs and $981 billion in revenue would be added if even just the average revenue of minority women-owned firms matched that of white women-owned businesses. So we can’t afford to let the Covid-19 crisis cause us to slide backward.
- Finally, according to a ‘Special Report on Women-Owned Small Businesses During Covid-19’ by the US Chamber of Commerce, women’s optimism has plummeted; as have any bullish plans for the future; and this runs counter to the men surveyed.
What you can do:
- Research. It’s incredibly easy these days to find sites like FromAtoSHE that are working hard to spread the news about the best women-owned businesses out there. Google, read, pay attention, content is everywhere.
- Ask friends/ tell a friend.This one is really the basis of who we are as women…geniuses at word-of-mouth. Sometimes we forget to ask our networks for a suggestion. What’s your favorite lipstick? Women-owned eye doctor? Restaurant? And when you find something you love…spread the word.
- Try something new. If you are going out to dinner, why not consider a women-owned restaurant? Or a new nail salon, florist, accountant, etc. It’s a good time to experiment with new places to spend your money.
And, of course, the suggestions are obvious. But so often we overlook these simple ways to break out of our routines and explore. So this month, give it a try.
“Women-owned businesses supply some of the most innovative, game-changing products in the market. I am consistently amazed by their ingenuity and resilience. Our goal with the Women Owned Logo and the #BuyWomenOwned campaign is to help consumers more easily find and support these women-owned brands and celebrate the incredible women who created them. We thank the #BuyWomenOwned Campaign Collective for standing with us in support of women-owned businesses.”
-Pamela Prince-Eason, WBENC President & CEO
What we will do:
At FromAtoSHE we are going to tell a story of a women-owned business we love each day in October. At the start of 2020 we managed to profile a woman we admired each day for 109 days before Covid-19 slowed us down. In October, we are back! Featuring our favorite women-owned businesses this month on Instagram, Facebook and, of course, our website.
We are also working on new ways to engage with our local community in the fourth quarter of 2020 to ensure that those who need us most have our ear. And we’ll share suggestions on how you can do the same.
We are going to push forward and close out the year with energy and enthusiasm to keep the women-owned businesses we know and love alive…will you join us?