Today, October 11, marks International Day of the Girl, and it's the perfect opportunity to highlight how women are contributing to economic growth. Here are eight compelling reasons to celebrate.
We often discuss wage gaps, workplace bias, and the confidence challenges faced by female investors. These issues are significant, but let's not overlook equally crucial facts: Women are launching businesses at record rates, stepping up as primary earners, and amassing substantial wealth.
Women are amassing wealth rapidly
By 2030, women are expected to control two-thirds of the wealth in the United States, as reported by the Federal Reserve.
Increasing female investors
Venture capital investing remains largely male-dominated (only 11% of partners were women in 2016), yet there's a notable shift: More women are now investing in women-led startups. Additionally, women hold over half of the investment wealth in the U.S.
Women will inherit 70% of future wealth in the next two generations
These figures exclude wealth earned by women, focusing solely on what they are set to inherit. This indicates that women, already controlling more than half of investable wealth, are on track to manage even more.
Women lead spending decisions
Globally, women influence an astonishing 80% of all purchasing choices. This is a significant advantage.
More women in leadership means greater profits
A 2007 analysis of 520 Fortune 500 companies by Catalyst categorized them based on the proportion of female board members. How did the most diverse boards compare to those with fewer women?
Companies with a higher ratio of female directors enjoyed 53% greater return on equity than their less diverse counterparts. The same analysis revealed a 42% higher return on sales and a 66% higher return on invested capital. Clearly, companies that support women outperform those that don't.
Companies that support women outperform those that don't.
And there's more to discuss.
Women own nearly a third of U.S. businesses
According to the 2012 Census, women owned 9.9 million businesses in America, representing 35.8% of all business ownership.
Businesses owned by women employ nearly 9 million people across the U.S.
Let's celebrate the achievements of these female entrepreneurs.
Women are the driving force of innovation
Female entrepreneurs are bringing fresh ideas to the market, whether it's revolutionizing products for children or transforming industries such as fertility tracking and savings. Their innovative solutions showcase the unique perspectives women bring to problem-solving.
