Established by the U.S. Small Business Administration, October marks National Women’s Small Business Month and while the glass ceiling might still be prevalent, women are steadily coming toward the forefront of small business ownership.
According to the Institute of Women’s Policy Research (IWPR), a 2015 report shows that about 29 percent of business owners in the US are women, and the number of female-owned agencies has increased 68 percent since 2007. Nowadays, small businesses ran by women receive more SBA-approved loans than ever before, and in turn their businesses are generating huge revenues.
This October should be a time to recognize the women who are changing business dynamics. Here are some ways to celebrate National Women’s Small Business Month:
1. Reflect on How Far We’ve Come
Established in 1988, the National Women’s Business Council was formed in an effort to abolish discrimination in lending practices. Currently, the NWBC acts as a nonpartisan federal advisory council/independent organization giving advice to the President, Congress, and SBA on economic issues relevant to women business owners. October is a time to celebrate the women entrepreneurs who have persevered in growing and maintaining their businesses while contributing to their local economies.
2. Educate Your Audience on WSBM
Feel free to share WSBM on your website and social media. Your audience will be interested in seeing the stats and figures about the rise in women business leaders.
3. Let Your Employees and Customers Know if You Are Women-Owned
If your organization is owned and led by women, this is your time to shine. Relate to your audience by sharing your story about the innovative product or service your company created and how your customers’ support made it successful. Be proud to be a part of 10 million strong.
4. Highlight Women-Owned Businesses You Support
When promoting WSBM, do a little personal research to find out if you use any female-led suppliers or vendors. Some popular US women-owned businesses that you have probably heard of include Cisco, Flickr, SlideShare, and Ruth’s Chris Steak House. Maybe give out a gift card or run a promotion to further recognize WSBM.
5. Encourage Women to Follow Their Dreams By Becoming a Mentor
Take this opportunity to engage and guide other women in launching their own business. Whether it’s online or in person, if you have expertise with investing in small businesses, now is the time to share it with other like-minded women. Plus, being a mentor can be rewarding, as it is a way to demonstrate your ability in running a successful business as well as give back to your community.
October is not only a great time to celebrate WSBM, but it’s also a chance for you to step back and reflect on your own business. In the 2015 State of Women-Owned Business Report, data showed that women are planning for growth, building on their passions, and investing in their marketing. This can be a time to review what you’ve accomplished in the past year and what you hope to do in the next to be able to take your own business to the next level.