Between the years of 1997 and 2017, the number of female owned business increased by 114%. These businesses employ 23 million people and generate more than 3 trillion dollars in revenue; female entrepreneurship is growing at a rate that 2.5 times higher than the national average. Of these newly founded businesses, 71% are female entrepreneurs are women of color, making entrepreneurship more diverse than every before. Women serve as the primary or co-breadwinner in almost two-thirds of American households, and entrepreneurship grants them flexibility, opportunity for greater income, and a high level of satisfaction and optimism.
Of the 11 million U.S. businesses owned by women, 68% of those businesses are run from the home. Home based businesses allow entrepreneurs to save money on commercial spaces, start their businesses with less risk, and improve work-to-life balance. Operating a business within the home allows offers opportunities for tax deductions, something that novice entrepreneurs may need to take advance of. Mothers often take a more heavy-handed parental role. By working from home, female entrepreneurs can take care of their sick child and set their own schedule, all while making money by and for themselves. Home based business may be partially to credit for 78% of female entrepreneurs feeling as though they have achieved true work-to-life balance.
One of the greatest selling points for entrepreneurship is the ability your hard work to be reflected in your income level. When your earning potential is directly proportional to your achievements, you will no longer miss asking for raises or waiting for promotions. While there is the good and not so good in every business, business owners hold the keys to building a larger, more stable business. Entrepreneurs create jobs, contribute to the economy, invest in their communities, innovate, and create wealth. The success of small business owners is directly relative to the success of the U.S. economy.
Entrepreneurs are the happiest people in the business world. An estimated 85% of happiness stems from the relationships we have, and as an entrepreneur, you can decide who you work with. By building your own team you can create the business you have always wanted to work for! It is also important that business owners do something they enjoy, something they find meaningful, whether that be working with children or teaching science! Many studies have concluded that the most motivating factors in business are challenging work, pleasant coworkers, and opportunities for growth. As an entrepreneur, you can expect a daily challenge, opportunities to grow your business, and you can hire all the pleasant coworkers you please!
Business ownership is empowering, and female entrepreneurship propels our economy. High Touch High Tech has been awarded a Top Franchise for Women by Franchise Business Review, with more than 55% of our franchise locations being owned or co-owned by women! If you are passionate about working with children, attaining a work-life balance, working from home, creating your own income, and being happy while you do it, a High Touch High Tech franchise is for you! Speak with us today to grant yourself the freedom of entrepreneurship!