Did you know that the US has 12.3 million women-owned businesses and that Women started 1,821 net new businesses every day last year? And that 62% of women entrepreneurs cite their business as their primary source of income. It is mine.
YET, Women receive just 7% of venture funds for their startups. Women-owned startup’s reception of just 7% of venture funds is a bleak number considering the growth of entrepreneurship in the U.S. and the vital role of venture capital in this growth. Ideally, venture funds for women-owned or women-led startups will rise alongside debt-funded rates for similar businesses.
Until then, how can you help? Well, of course, making a purchase is the first way but there are other ways too... In fact, I would much rather see you do these things to help my business grow long term. Be my EVANGELIST! Be my CHEERLEADER! Champion other Women-owned small businesses!
There are plenty of other ways to show our support to female founders, POC founders, and small businesses as a whole. Here are a few favorites from Ashley Hoffman at Medium.com:
1. Engage on Social Media
Social media is an amazing tool for small businesses. It has empowered them to get in front of their audience on a regular basis and has turned into an inexpensive — if time-consuming — form of marketing.
The thing is, there’s one barrier that often keeps them from succeeding (y’know, shitty content aside): the algorithm.
Fortunately, that’s where you can come in.
Whenever you come across a business you want to support, follow them on their social media channels. Like their posts. Share things you find interesting/entertaining. Invite your friends to their events.
It’s simple, it’s free, and it doesn’t take much time. Plus, because they’re small, an encouraging comment on one of their posts goes a lot further than one on larger corporations’.
2. Refer Them to Friends & Colleagues
Just because you can’t afford to drop $215 on a handmade necklace doesn’t mean one of your friends won’t be able/want to.
Similarly, just because your business can’t afford to hire a copywriter right now doesn’t mean someone in your network can’t either.
When you come across a business you want to support, keep them top of mind and send their information to someone who might want/need it. Not only will this help the business, but it may also be the answer your friend is looking for!
3. Subscribe to Their Blog/Newsletter
Content does not write itself. There’s a lot of work that goes on in the background — work business owners & marketers are doing to get business.
If you can’t afford to buy from them now, you might be able to in 6 months or maybe even 2 years from now.
In the meantime, subscribe to their blog & newsletter to keep up with them. If they’re doing it right, you might also get great discounts and/or valuable information from it — so it’s a win-win for both sides!
Support Local y'all!