It’s 2021. Things have happened. Some good, some bad, some just plain weird. One thing we’re sure of – the world needs more kickass women-led businesses to make it betterer. So let’s’ talk about how to make that happen.
The Not-so-good stuff
The glass ceiling is real, and it just got a bit thicker. In this latest economic shakedown, women have lost more jobs than men. Especially BIPOC women (Black, Indigenous and People of Color).
This is a problem, because in the race to financial stability, women already have the deck stacked against them.
In the research, it’s clear that women:
- Earn 20% less than men
- Get promoted less
- Have more student debt (which takes longer to pay off, because of the first two reasons)
- Spend more time caregiving
- Don’t invest as much for their retirement (see reasons 1 & 2)
The numbers prove out that women have lost more economically than men in the last year, and it’s tough to say when that trend will reverse. And there are problems
“There is no single definite answer on the cause, but I think that issues such as the limited availability of early affordable child care, lack of parental leave, et cetera, put up bigger barriers to women working in the U.S. compared to other countries,” says Matthias Doepke, HSBC Research Professor in the Department of Economics at Northwestern University.
How to support women in business
Seek Out Women-Owned Businesses
The simplest? Seek out women owned businesses to work with. If you’re an employer, make sure your company policies support women — Things like clear career promotion paths and mentorship programs. Paid family leave as well as maternity AND paternity leave help level the playing field.
Seek Ways to Expand Your Network
If you’re having trouble hiring a diverse team, that might be because the people who you’re connected with professionally ARE a lot like you — similar backgrounds, education and experience. Put those opportunities out to other groups. Women in business groups. BIPOC professional organizations.
The good stuff
The recent pandemic lockdowns have paved the way for more companies to embrace flexible work-from-home arrangements. Having partners at home 24/7 has also made it obvious how much more housework most working women do. (Studies have shown it’s about 2 hours per day on average. Just sayin.)
There’s also been an incredible 45% increase in women owned businesses since 2007. That’s great, but there’s still a long way to go.
Drizzle Digital is a woman-owned digital agency, and we actively support women-led businesses and teams in our work. Internally, we are led by kickass women developers, designers, strategists, copywriters, and managers.
And social equality aside, there’s some very sound economic reasons why it’s a good idea to get women-led businesses in your corner.
Convinced? Go out and find some women owned businesses to support. Or start one yourself. And, if you’re after a women owned agency, you need look no further than yours truly…
