Percentage of women entrepreneurs increased since Pandemic: GoDaddy's Venture Forward
Women entrepreneurs are breaking down barriers and achieving success in business, all while boosting their local economies and paving the way for others to follow. According to GoDaddy's Venture Forward research initiative, the share of startups owned by women has increased by 26% when compared to men.
Women established 59.6% of businesses established since the pandemic, compared to 47.3% of businesses established prior to 2020.
Women established 59.6% of businesses established since the pandemic, compared to 47.3% of businesses established prior to 2020.
Black women are the fastest growing entrepreneur group. According to Venture Forward research, the percentage of Black women starting businesses has increased by more than 100%, rising from 10.7% of all businesses started before 2020 to 21.5% of all businesses founded since the pandemic.
While women's entrepreneurship is on the rise overall, those polled stated that marketing and effectively getting online were among the most difficult challenges they faced when starting a business. This is one of the reasons why, in 2017, GoDaddy launched Empower by GoDaddy, the company's global social impact programme that provides training, tools, and peer networks to entrepreneurs from underserved communities. Empower by GoDaddy, in collaboration with nonprofit and community partners, focuses on meeting the unique needs of entrepreneurs through customised neighborhood-based programmes, mentorship, and digital skilling.
GoDaddy asked six programme graduates – all powerful female entrepreneurs – to share their best advice for the next generation of entrepreneurs, as well as some of the most rewarding aspects of being an entrepreneur. What they had to say was as follows:
- “I’ve found that being a small business owner is a lot like farming. You put blood, sweat and tears into harvesting something you’re proud of. However, the work never stops. I like to tell new business owners that bad things are teachable moments. Don’t get too caught up in the negative because if you continue to put in the time, action and energy into your goals, there will always be something positive out of the bad times,” said Cherilyn Yazzie, Co-Founder & Owner, Coffee Pot Farms.
- “It’s so important for small business owners to have a digital presence – especially when shopping for products and services these days is mostly done online. As a costume designer, having a compelling visual component to complement my business is critical and something as simple as an eye-catching website can go a long way. To me, inclusive entrepreneurship is all about leveling the playing field for starting a business. It’s supporting and empowering minority groups to build businesses and ultimately grow their communities. My business, Land of Moon, is named after my daughter, Arya Moon Land. My goal is to show her that turning your dreams into reality is possible, no matter the obstacles,” said Chong Mi Land, Founder & Owner, Land of Moon.
- “My biggest piece of advice for the next generation of entrepreneurs is to never stop believing in yourself. It’s during difficult moments that I feel like I’m propelled forward. I’m falling but I get back up stronger. Having my own business has helped me to believe in myself. It’s helped me to have extra time to spend with my kids, and most importantly, I’m showing my kids that they too could choose to work for themselves someday,” said Consuelo Rosales, Founder & Owner, Conseulo’s Cleaning Services.
- “It is so important to find your community of colleagues and mentors but just because they found a way that works for them and what they do, doesn’t mean it will translate to what you do, even in the same field. Be creative with your solutions and follow your intuition, after all it got you this far,” said Jaz Erenberg, Founder & Lead Artist, Jaz Erenberg Art LLC.
- “Be willing to learn! We don’t and won’t know everything on our own and can learn a great deal from those that come before us. If we just push pride aside, we can thrive,” said Kimberly Muhammad, Co-Founder & Executive Designer, Zuri’s Circle.
- “The most rewarding part of being an entrepreneur is being able to take an idea from my brain, put it on paper and then do the work to make it come to life. Everyone tells you when you are a child that you can be whatever it is that you want to be, and you can do whatever you want to do. It’s true and I am proof,” said Tanika Nelson, Owner & Head Designer, Nika’s Cupcake Bar.
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