Woman-Run and 1 Million Cups are collaborating in the month of August to showcase a series of presentations from women-owned startups and early-stage businesses. The companies and their female founders will present each Wednesday in August at 1 Million Cups-Bentonville.
"Woman-Run is a statewide initiative with a goal of supporting women-run businesses and women inventors through networking and mentorship while addressing the unique business needs of women and minority business owners," said Meredith Lowry, an attorney with Wright, Lindsey & Jennings, which sponsors the initiative.
From 1972 to 2018, the number of women-owned businesses from 402,000 (4.6 percent of all firms) to 12.3 million. And while the total number of women-owned business is growing, the share of revenue when compared to all companies is not keeping pace. From 2007 to 2018, the total employment share increased from 6 to 8 percent, while the revenue share increased from 4 to 4.3 percent.
Working capital is essential to the success of a growing business, but women-owned companies received only 2 percent of venture capital funding in 2017. The Women-Run team at Wright, Lindsey & Jennings is committed to assisting women- and minority-owned businesses in securing financing, either through debt or equity financing. They are well-versed in the technicalities of both and can simplify the fundraising process.
Learn more about the Woman-Run mission.
1 Million Cups-Bentonville meets every Wednesday at 8 a.m. at The Exchange on A Street in downtown Bentonville. The weekly event brings together entrepreneurs and community and business leaders over coffee and conversation. Join the community.
Startup Junkie, a community organizer for 1 Million Cups Bentonville, is offering assistance in preparing presentations for 1 Million Cups to any female founder interested in presenting as part of this collaboration. Schedule an appointment to meet with one of the foundation’s consultants here, or apply to present as part of this collaboration here.
More statistics on women-run businesses, according to the Women’s Business Enterprise National Council:
• 62 percent of women entrepreneurs depend on their business as their primary source of income.
• 25 percent of women were likely to seek financing for their business, compared to 34 percent of male entrepreneurs. More women use credit cards, while more men use equity investors.
• 88 percent of women-owned firms generate less than $100,000 in revenue. This group is growing at a rate that is faster than the growth rate for larger women-owned companies.
• 1.7 percent of women-owned businesses generated more than $1 million in revenue, an increase of 46 percent over the past 11 years compared to 12 percent for businesses overall. These firms represent 68 percent of total employment for all women-owned businesses and 69 percent of total revenues.
• Women-owned businesses employ 9.2 million people. (This is just 8 percent of the total private sector workforce.)
• Women-owned businesses generate $1.8 trillion in revenue. (This is only 4.3 percent of the total private sector revenue.)
• From 2007 – 2018, total employment by women-owned businesses rose 21 percent, while employment for all businesses declined by 0.8 percent.