Employed Women Face More than Gender Discrimination in 2016
Personally, as a woman in the workforce, taking a glance at overarching trends for female employees feels a tad insular. On my employment island, I have a sense of the looming gender wage gap, experienced the ignorant male colleague, and, here and there, I have been acquainted with how my name, which is evocative of a man on the other end of the phone or email, may provide me with more opportunities or off-handed respect.
In my research for this piece, I sought to find lighthearted trends from inspirational groups like The National Women’s Business Council and the Women Presidents’ Organization. Wherever I turned to shine a light on gender bias and discrimination, I discovered potent resiliency of women leaders and exactly how much perseverance was creeping into that menacing gap.
I’m genuinely exhilarated by illuminating what’s being done to empower and support women in the workplace and how exactly the giant paradigm shift at play can make a difference for every single person at work.
Women in U.S. Entrepreneurship
In March, the National Director of the Minority Business Development Agency (MBDA) Alejandra Y. Castillo wrote, “As we celebrate Women’s History Month and the vast contributions that women have made to the strength and well-being of our nation, we are seeing the next chapters in this history being written as women take a bigger role in building our economy.”
She went on to break down why the Department of Commerce is taking the helm of America’s efforts to support and empower all entrepreneurs and innovators, regardless of gender.
“Entrepreneurship is one of our nation’s greatest assets and exports. Today, women-owned firms account for about 38 percent of all U.S. firms; with a notable mention of minority women-owned firms who have been named the fastest growing group of entrepreneurs increasing by 70 percent between 2007 to 2012.”
With minority women-owned firms as the fastest growing group of entrepreneurs, how can the U.S. make it feasible for every citizen to contribute to the country’s growth and prosperity?
Castillo is the first Hispanic-American woman to lead the Agency, so she understands all too well what our national talent pool is potentially missing out on in the competitive global economy.
“We need to encourage girls and women to pursue their dreams and reach their full potential. In this way, they will build on the legacy of our foremothers and write the next great chapter in the history of America’s women.”
So what is the next chapter for women in the workplace? What trends will enrich the fabric of America’s workplace diversity?
Women in Workplace: A Summary
- Women-owned firms made up 36.2% of all non-farm businesses classified by gender in 2012.
- These businesses generated $1.6 trillion in total receipts
- There was an increase of 143,000 women-owned employer firms from 2007
- These firms employ 8.9 million people and generate receipts of $1.4 trillion
- Only one woman raises equity financing to every nine men that do
- Women-owned businesses are receiving only 2% of equity funding (as opposed to 18% for men-owned businesses).
- Women in the upper echelons of investment firms is down—in 1999 it was at 10% as of 2014 only 6% of top management at investment firms are women.
- VC firms with female partners are 2-1/2x more likely to invest in companies with women on the management team
- Only 1.8% of women’s businesses scale successfully past the one million dollar revenue mark (vs 6.3% for men).
- Women own 36.2% of all non-farm and non-publicly held businesses, but women led businesses still receive only 2.7% of all total VC funding.
- Companies with a woman CEO only received 3% of the total VC dollars, or $1.5 billion out of the total of $50.8 billion invested between 2011 and 2013
As long as the world relies upon entrepreneurship, the call to action for an even playing field for women to contribute to American growth and prosperity will ring true.
By 2012, women-owned firms made up 36.2 percent of all non-farm businesses classified by gender— nearly a 30 percent increase from 2007. And these businesses generated $1.6 trillion in total receipts—again, an increase from 2007’s $1.2 trillion. For perspective, male-owned businesses saw a 33.8 percent increase in receipts during the same period—versus the 35.1 percent increase seen with women-owners.
Female innovators are pioneers in revolutionizing the modern landscape of product and services in America. It certainly helps that they represent 50.8 percent of the national population and contribute $11.2 trillion in spending power. But that’s not the only control women wield: women consumers have commanded a new direction in the market to meet their previously unmet needs.
