Mother's Day 2020: Support Small Woman-Owned Businesses
I have always been a champion of woman-owned businesses because I know how hard it is to run a business when the odds are not stacked in your favor. According to statistics that were collected by Fundera, a meager 7 percent of venture capital funds go towards woman-owned startups, and, on average, women ask for $35,000 less than men when they do receive financing.
And yet, 40 percent of small businesses in the United States are now owned by women. In fact, when women run private tech companies they outperform the ROI of male leaders by 35 percent. And the female-owned companies funded by First Round Capital outperformed companies founded by men by a whopping 63 percent. It isn't even close.
But roughly the same percentage of women (62 percent) report that the money they make from their small business is their primary source of income. And with so many businesses suffering right now, that doesn't leave those women in a very good position.
Support Small Woman-Owned Businesses
This pandemic has many of us shopping with large nation-wide retailers who have name brand recognition and a solid marketing budget to target their audience on every platform. But what about the small businesses who so desperately need our support right now? For them, it's not about hitting their profitability goals for the year; it's about survival.
You can have a positive impact not only on the survival of a small business, but you can also change a life by choosing to make your Mother's Day purchases with small businesses this year. I've put together a list of some options for you to consider in my Mother's Day 2020 Shopping Guide, which highlights a host of woman-owned businesses from across the country.
Click the guide below to download your copy, and even better, share it with friends and family.