On the Rise: The Undeniable Power of Women-Owned Businesses

Are you familiar with CDC’s YouTube Channel where you can find playlists of our success stories, our loan tips, our getting to know CDC series and more? Read below for the key insights from our “Undeniable Power of Women in Business” video or watch above.

Small businesses help propel the nation’s economy. But do you know who’s really been driving small business growth over the last five years? It’s undeniable.

Women.

These entrepreneurs have made great gains, but we’d like to remind you that they have the potential to do even more. And as a mission-based lender, CDC Small Business Finance is one of the contributors committed to creating more opportunities for women.

The power of women-owned businesses is crystal clear. According to American Express’ latest report on women in business, a whopping 13 million women-owned businesses generated $1.85 trillion in revenues, while employing 9.38 million people.

In the past 5 years, the pace accelerated, as the number of women-owned businesses rose by 21%. That’s more than double the rate of growth for all small businesses.

Small business financing obstacles

Yet as impressive as the trends are, here’s another thing that’s undeniable. Women still face serious obstacles to growth, especially when it comes to financing. Just 25% of women seek funding for their businesses, according to SCORE’s “Megaphone of Main Street: Women’s Entrepreneurship” report.

In addition, less than 5 percent of small business lending – only about $1 in $23 – goes to women, the investment fund CNote said, citing a statistic reported by the U.S. Senate Committee on Small Business and Entrepreneurship.

Overcoming barriers

For women looking for a start in business, there are organizations that offer access to connections and classes, from Small Business Development Centers and SCORE to the National Association of Women Small Business Owners.

In addition, as a mission-based lender and community nonprofit, CDC Small Business Finance is dedicated to being part of the solution by offering women support and better access to capital. We are proud to be an enthusiastic partner, contributing to the growth and success of women entrepreneurs and seasoned business owners alike.

The numbers offer an undeniable argument for the economic power generated by women-owned businesses. Are you a part of that picture? You can be! You might be ready to be your own boss or to start or expand your business. Or simply join in – make a difference by supporting women-owned businesses in your community. 

See more videos on our YouTube channel

In case you missed it:

• How to take women-owned businesses to the next level
• Sparking more lending for African-American business owners
• What we’re doing to close the financing gap for Latino-owned businesses

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Do you need help launching or growing your business? The experienced loan experts at CDC Small Business Finance are here to help you reach your goals. And for qualified borrowers who need guidance, we can connect you to our Business Advising Services Team to help you get loan-ready – for free. Tell our experts about your business, and they’ll match you with the financing that best suits you. Let’s talk! Reach us at loaninfo@cdcloans.com or (619) 243-8667.