WBENC Celebrates National Women’s Small Business Month with a Campaign to #BuyWomenOwned
October is National Women’s Small Business Month, and WBENC is marking the occasion with a campaign to raise awareness for why, where, and how to #BuyWomenOwned and support women-owned small businesses.
As the nation’s leading provider of women-owned business certification, WBENC works to empower and advocate for women entrepreneurs every day. For the month of October, we are passing the baton to the public as we urge all consumers to make a conscious effort to #BuyWomenOwned.
WHY BUY WOMEN OWNED
Over the last few decades, the number of women-owned businesses has skyrocketed. In 1972, women owned just 402,000 or 4.6 percent of businesses; today there are 12.9 million women-owned businesses in the U.S., representing 42 percent of all businesses. Women-owned businesses collectively employ 9.4 million people and generate $1.9 trillion in revenue.
While that’s a sizeable impact, women-owned businesses account for just 8% of the total private sector workforce and 4.3% of total private sector revenues. And unfortunately, the revenue disparity between women-owned businesses and all businesses has increased over the last 20+ years. For every dollar generated by a privately held company overall, women-owned businesses generated just 37 cents in 1997 and 30 cents in 2019.
In addition, the majority of women-owned businesses generate less than $250k in revenue – and yet, data shows that substantial business growth in terms of revenue and number of employees begins to take off after reaching $250k in revenue.
With more support and increased access to opportunities and capital, women-owned businesses are poised to exceed this critical revenue threshold and make a significant impact on the overall economy.
Supporting women-owned businesses means investing in women’s economic empowerment, gender equality in business, and sustainable economic growth. It means believing in a future where women entrepreneurs have the same opportunities and growth potential as their male counterparts, where the marketplace is as diverse as the population it serves, and where women are viewed as equals across economic and business ecosystems.
HOW TO BUY WOMEN OWNED
Look for the Logo
Next time you are running errands or going shopping, keep on the look-out for the Women Owned Logo. Any storefronts, websites and product labels bearing the Women Owned Logo have been certified as at least 51 percent owned, operated and controlled by a woman or women by WBENC in the United States and WEConnect International globally.
Search the Directory
Need a handy guide to women-owned businesses to support? Check out our Women Owned Business Directory, featuring hundreds of products from WBENC or WEConnect-Certified businesses.
Join the Movement
We are on a mission to build a movement of support for women-owned businesses. Join us! In addition to making a conscious effort to #BuyWomenOwned this month (and beyond!), stay informed and help us spread the word about National Women’s Small Business Month. Here’s how:
Check out our campaign media kit for statements of support, shareable graphics, and more.
Sign-up for Women Owned Wednesday, our weekly email newsletter
Share your favorite women-owned product or business on social media using the hashtag #BuyWomenOwned
WBENC is the largest third-party certifier of businesses owned, controlled, and operated by women in the United States. WBENC partners with 14 Regional Partner Organizations (RPOs) to provide its world-class standard of certification to women-owned businesses throughout the country. WBENC is also the nation's leading advocate of women-owned businesses and entrepreneurs. Throughout the year, WBENC provides business development opportunities for member corporations, government agencies and more than 15,000 certified women-owned businesses at events and other forums. Learn more.
About Women Owned
Women Owned is an initiative from WBENC and WEConnect International to create a movement of support for Women Owned businesses. We support female entrepreneurs and those who do business with them by raising awareness for why, where and how to buy Women Owned. Learn more.
All data regarding the number of women-owned businesses can be found in the 2019 American Express State of Women-Owned Businesses Report.