11 Reasons 2014 Will Be A Breakout Year For Women Entrepreneurs
The number of $10-million-plus women-owned firms increased by 57% — a growth rate nearly 50% more than $10-million-plus firms overall, according toGrowing Under the Radar: An Exploration of the Achievement of Million-Dollar Women-Owned Firms.
While the number is still small — nearly 20% of angels in 2012 invested in women-led businesses — the percentage grew more than 40% from the previous year, according to the Center of Venture Research, which studies early-stage equity financing for high-growth ventures. Even venture capitalists have increased their support of women-led companies. It’s still paltry, but the percentage of VC deals going to women-led businesses was 13% in the first half of 2013. That’s nearly a 20% jump over 2012, according to Pitchbook, a venture-capital research firm.
There is room for improvement, but the U.S. ranked #1 among 17 countries on having the conditions that foster high potential female entrepreneurship, according to Gender-Global Entrepreneurship Development Index (GEDI). These conditions include entrepreneurial environment, entrepreneurial eco-system and entrepreneurial aspirations.
Woo hoo for women entrepreneurs! They will lead the way for women in other sectors to shatter their ceilings. Some of the 11 reasons women entrepreneurs will crack glass in 2014 are common to all women and others are unique to entrepreneurs.
1. Women have the right stuff Women make better leaders than men, according to research conducted by Zenger Folkman. “They build better teams; they’re more liked and respected as managers; they tend to be able to combine intuitive and logical thinking more seamlessly; they’re more aware of the implications of their own and others’ actions; and they think more accurately about the resources needed to accomplish a given outcome,” said Jack Zenger and Joseph Folkman in Forbes. Women on the Women Presidents’ Organization (WPO) 50 Fastest Growing Women-Owned/Led Companies in North America know that you have to nurture your staff in order to sustain rapid growth.
Check out Forbes' remaining 10 reasons why 2014 is a great year for female entrepreneurs.