Women Entrepreneurship Day is observed every year on November 19th to honor female entrepreneurs and to discuss their contributions to the entrepreneurial community. Did you know that the first female-owned business in the U.S. was established in 1739?
Despite the advances made by women entrepreneurs since the Industrial Revolution, gender barriers, societal pressure, access to funding and mentorship, and lack of education still constrain women’s growth in businesses.
Women’s Entrepreneurship Day is organized by the WEDO (Women’s Entrepreneurship Day Organization) and recognized by the United Nations and over 120 Countries. On Women’s Entrepreneurship Day, pioneering women in various fields are given the WEDO Pioneer Awards.
Women have been involved in entrepreneurial ventures for centuries, but they were not considered entrepreneurs because the term was exclusive to men. During the 18th and 19th Centuries, most businesses owned by women were either from inheritance or supplemented personal income.
Eliza Lucas Pinckney of South Carolina was one woman who became a business leader through inheritance. She took over her family’s Plantations when she was 16 years old, becoming the first female recorded to own a business in the U.S.
Women began owning Brothels, Alehouses, Taverns, and Retail Shops around the same time. However, because of the societal perception of what a woman should and should not do, these businesses were considered shameful. In the 1900s, public perception shifted toward the progressive, and feminism became a widely accepted movement. This allowed people to refer to women in business as female entrepreneurs.
Black women became the most enterprising women in the U.S. during the early 20th Century. They established themselves in dressmaking, Black hair care, private home domestic work, and midwifery. Madam C. J. Walker, the first African American female millionaire, was one of the most successful women of this era.
Various organizations launched in the United States were founded in the late 1980s and 1990s to provide education and financing to female entrepreneurs. Among these are the Women’s Business Development Center and Count Me In.
But none of this was enough to put women entrepreneurs on an equal footing with their male counterparts. Since 2000, there has been an increase in support and attention for female entrepreneurs, and female-owned businesses now have more access to financing than ever before.
After returning to the U.S. in 2013 from volunteering with the Adelante Foundation in Honduras, Wendy Diamond started an initiative to empower women in business. This initiative became the Women’s Entrepreneurship Day Organization (WEDO). On November 19, 2014, WEDO celebrated the first Women’s Entrepreneurship Day in the U.S. and over 140 Countries. Since then, New York City and Los Angeles have declared Women Entrepreneurship an official day, the U.S. House of Representatives has recognized Women Entrepreneurship, and the United Nations celebrated it.
How to Observe Women Entrepreneurship Day
- Women entrepreneurs go through a lot just to launch their business and keep it running. If you know any women entrepreneurs, use Women’s Entrepreneurship Day to congratulate them personally or through Social Media.
- Patronize women owned businesses or stores and promote them on Social Media
- .Invest in women owned companies, and donate to there businesses.
- If you have the opportunity and the skills mentor aspiring female entrepreneurs.
- If you are a woman with a good business idea, you can use the publicity provided by Women’s Entrepreneurship Day to kick-start your venture. Before launching your business, ensure you have everything in place, including a business plan and model and a go-to-market strategy.
Facts About Women-owned Businesses
- Did you know women launch over 1,200 new businesses in the U.S. every day?
- Women own about 36% of small businesses globally.
- Women own 46.4% of private businesses in Ghana, the highest rate in the world.
- Female entrepreneurs are usually between the ages of 40 and 59.
- Women own 12.3 million businesses in the U.S., accounting for 42% of all businesses.
Why Women Entrepreneurship Day is Important
WEDO hosts the Women’s Entrepreneurship Day Organization (WEDO) Pioneer Awards. This award recognizes female leaders and trailblazers in various business and life categories.
In this male-dominated world, women must overcome challenges and obstacles daily to ensure the survival and growth of their businesses. Today we appreciate these women for their efforts and contribution to the Nation’s economy.
W.E.D.O. has various programs to empower and encourage more women to start businesses and we can lend our support to such an important initiative.
Thank you,
Glenda, Charlie and David Cates
