Every March 8th, we commemorate International Women’s Day. As a Women-Owned business we find this day to be an opportunity to reflect on how businesses can contribute to building a more equal and promising future for women.
According to a report by the WIPP Education Institute, women-owned businesses represent 39.1% of all businesses, employing 12.2 million workers, and generating $2.7 trillion in revenue. Of all the metropolitan areas in the U.S, Dallas-Fort Worth ranked # 2 for the growth of women business owners. However, there is still opportunity for growth. Women-owned businesses only account for 9.2% of the workforce and 5.8% of revenue, meaning that there is still potential for generating $7.9 trillion in additional revenue to the nation’s economy by closing the gap.
As business owners, there are many actions we can take to recognize that women are equally capable and contribute to having a world that’s bias and stereotypes free. Here are some ideas of what we can do to continue closing the gap:
- Women supporting other women: If you have a women-owned business or have a leading position in a company, supporting other women is a very accessible initiative you can take. When looking for suppliers, take a look at local businesses owned by women. Even if you don’t have a current need, go to events and take the time to do networking and have them in your radar for future opportunities.
- Act intentionally: You can always invite other women to your circle of influence. This will give them the opportunity to do great networking and make meaningful connections for their businesses.
- Take any opportunities to mentor: cultivating young talent also contributes to closing the gap. You can partner with local education institutions that will connect you with talent interested in your industry. It is very valuable for young women to receive advice from experienced mentors that will help them navigate the corporate or entrepreneurial world. Also, there are always great takeaways from these experiences. You will be surprised, it is also a great source of knowledge for you.
- Partner with your male counterparts to lift up other women: Lifting up women is something everyone can act intentionally on. Male counterparts who also have successful businesses or have a position of influence can also invest themselves and their companies in closing the gap.
- Give and invest in the upcoming women generation: There are many organizations that have initiatives to fund education or initiatives benefiting women and girls. Helping them access opportunities will shape their future. They will be the next entrepreneurs and leaders to come in businesses.
All of these ideas we practice here at Laguna Media Group as we are involved at different levels by mentoring at University of North Texas, participating on boards, doing business with other women-owned businesses and supporting leadership, entrepreneurship and opportunities for them. We invite you to join us in these initiatives. If you have ideas, connections or an interest in learning more, drop us a note at info@lagunamg.com.