How Women-Owned Businesses Are Driving Economic Growth
As consumers, we have a lot of power to shape the economy through our purchasing decisions. We can make a positive impact by choosing to buy from women-owned businesses. Not only do these businesses offer quality and unique products and services, but they also play a significant role in driving economic growth.
This article will explore the importance of women-owned businesses in the economy and discuss how you can support them while saving money.
Overview of Women-Owned Businesses
First, let's define what we mean by "women-owned businesses." According to the National Women's Business Council, a woman-owned business is at least 51% owned, operated, and controlled by one or more women. As of 2021, there are over 12 million women-owned businesses in the United States, generating over $1.8 trillion in revenue.
Women-owned businesses are essential in their contribution to the economy. They also create jobs and provide a source of income for women and their families. In fact, women-owned businesses have been responsible for creating over 23 million jobs in the US.
Benefits of Buying from Women-Owned Businesses
So, why should you consider buying from women-owned businesses? Here are a few key benefits:
Quality products and services: Women-owned businesses often focus on providing high-quality products and services. Many women entrepreneurs are passionate about their work and take pride in their work.
Unique products and services: Women entrepreneurs often bring a unique perspective to their business ideas, resulting in innovative products and services that are innovative and different from what you might find from other businesses.
Boosting the economy: Women-owned businesses are a significant contributor to the economy, and by supporting them, you are helping to drive economic growth and create jobs.
Examples of Successful Women-Owned Businesses
From Aptive to Rite Aid to Bed, Bath, and Beyond, there are many examples of successful women-owned and women-led businesses across a range of industries. For example, Spanx, founded by Sara Blakely, is a women's apparel company that has become a household name. The Honest Company, founded by Jessica Alba, offers eco-friendly and non-toxic household and baby products. And Bumble, founded by Whitney Wolfe Herd, is a popular dating app that empowers women to make the first move.
These businesses and others like them are not only successful in their own right but also contribute to the overall success of the economy.
Ways to Find and Support Women-Owned Businesses
If you're interested in supporting women-owned businesses, there are many ways to do so. Here are a few ideas:
Shopping on RebateFanatic can save money on purchases while directing you to women-owned and women-led businesses.
Online marketplaces and directories: Websites like Etsy and Women Owned Business Club offer directories of women-owned businesses across various industries.
Local business associations: Check with your local Chamber of Commerce or other business associations to see if they have a directory of women-owned businesses in your area.
Social media platforms: Many women-owned businesses have a strong presence on social media platforms like Instagram and Facebook, making it easy to find and follow them.
Referrals and word-of-mouth recommendations: Ask your friends and family for recommendations of women-owned businesses they have purchased from and had a positive experience with.
Supporting women-owned businesses is not only a way to get quality and unique products and services but also to help drive economic growth and create jobs. By choosing to buy from women-owned businesses, you can positively impact the economy and help support women entrepreneurs.
Remember, there are many ways to find and support women-owned businesses, whether through online directories, local business associations, social media platforms, or word-of-mouth recommendations. And, with a few savvy shopping tips, you can save money while still supporting these essential businesses.
So, next time you're shopping, consider choosing a women-owned business. Your purchase could make a big difference in the life of a female entrepreneur and help to build a more robust, more innovative economy.