Austin TX Business Law Blog

Wednesday, August 27, 2014

Number and Success of Female Entrepreneurs Growing

According to a recent study by Expert Market, business is no longer completely a man’s world.  The number of female entrepreneurs and female-owned businesses in the United States has increased exponentially over the last 20 years. From 1997 to 2014, almost 4 million of these businesses have popped up.  These ventures make trillions in revenue and employ millions of people.

Certain states are leading the others in this area.  For example, states including Washington, D.C. (although not technically a state), Maryland, New Mexico, Hawaii and Georgia have the highest number of female-owned businesses in the country. From 1997 to 2014, Georgia, North Carolina, Nevada, Mississippi and Texas have seen the most growth in female entrepreneurship.  Texas has seen the second highest amount of growth of any state in this area with a 98% increase in female-owned businesses.

Some female entrepreneurs claim that men are still dominating the Texas markets.  A few of these business owners lament that people often avoid doing business with them because of their faulty presumption which equates being a woman with inadequate knowledge of the business.  Others claim that men in the various industries do not give them a fair break because of preconceived notions about women in general.  But, this has not stopped them.  One theory claims the increase in female-owned businesses in these states to be a result of the cyclical nature of business and the snowball effect.  As more women become entrepreneurs, the more women look up to them as role models and believe that they too can do the same thing.  Women no longer consider the dream of owning their own business an insurmountable task. 

Starting your own business can be a difficult situation regardless of your gender.  Even in these times, if you are a woman, it is exceptionally important to have a well thought out business plan to overcome the obstacles that may come before you.  The advice of a qualified business law attorney in matters of structure and day to day operations can be essential to your success. Call Austin, Texas business law attorney Sanjeev Kumar at (512)323-6060 for a consultation regarding your business start-up today.

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