Why Women Are Excelling As Business Owners In Typically Male-Dominated Industries

October is National Women’s Small Business Month. In 1972, approximately 4.6% of businesses in the United States were owned by women. As of last year, 2019, women now own 42% of companies. Another encouraging insight is while female-owned companies grew 21% from 2014 to 2019 overall, companies owned by African American women grew double that rate. In fact, women of color accounted for almost half of all female who owned businesses.

There is still, of course, more work to be done. I spoke with four different female company owners on what prompted them to own their own company, what they think holds women back, and why they feel sets female leaders apart from their male counterparts.

Why Women Strike Out On Their Own

Women who start their own business are often motivated by different intentions. While more than half of business owners are inspired to open a company to be their own boss, 26% of owners started their own company to pursue a passion. Around 15% simply found dissatisfaction in Corporate America and wanted to strike out on their out independently.

Having more independence was undoubtedly the case for Tricia Capps. “I was helping other companies run and grow their businesses and decided that I would like to do that for myself.” Ms. Capps said. She is the owner of The Grounds Guys of Waco, a Neighborly company, a landscaping and lawn care company operating in Waco, TX. “At that time, The Grounds Guys of Waco was available to purchase, so I accepted the opportunity and joined the Neighborly family.”

Fran Paradine falls into the ‘pursuing a passion’ column. Ms. Paradine traded in a successful seventeen-year career as a therapist to become the owner of a CBD-branded store, Incredible Edibles. “Leaping into being a small business owner in a retail space was both exhilarating and terrifying,” she shared. “Toward the end of my time as a therapist, I began to explore the connection between mental health and physical health, recognizing that how we fuel our bodies has a significant impact on how we feel emotionally. This exploration led me to think about other ways to help people that are seeking better health.”

Another example of following her passion is Cheryl Torres, a United States Army Veteran and a retired registered nurse. Ms. Torres is the owner of 9Round franchise location, a fun, 30-minute, full-body, trainer-guided, kickboxing style workout that is family-oriented. “I started my own company because I felt empowered to give back to my community, as well as continue my passion of helping people,” she explained. “If you are proactive in taking care of your health and fitness, then the sky is the limit. I’m grateful to support individuals in their fitness journey and encourage them to follow their dreams.”

In the case of Saunda Kitchen, she began running her company for a different kind of passion. “I got into the trades because I fell in love with a contractor,” she revealed. Ms. Kitchen owns and operates Mr. Rooter Plumbing of Sonoma County. They are a full-service plumbing maintenance service and repair franchise. “He was looking at opening a franchise called Mr. Electric and asked if I would help run it. I was 21 years old and full of hope and possibility. As it turns out, my gumption outlasted the love, and I would go on to stay in franchising for over 25 years!”

What Sets Female Leaders Apart

According to a report from the Small Business Administration’s Office of Advocacy, “Women’s Business Ownership: Data from the 2012 Survey of Business Owners”, the overwhelming majority of female-owned businesses are considered small (meaning fewer than 500 employees). When asked why so many of these companies stay small, the word ‘relationships’ is a common theme throughout every answer.

“Women value relationships, so we build companies with fantastic cultures that embrace the why of the work we do and benefit all who do it,” expressed Ms. Kitchen.

Ms. Paradine shared a similar sentiment explaining that when women create something, they want to feel a strong connection to it. “In business, we want to maintain relationships with as many people as possible (employees, customers, vendors, outside workers),” she replied. “If the place gets too large, we fear losing touch with those invaluable people who keep the company running. However, we don’t need to be limited by this. The key to continued growth is finding and cultivating relationships with like-minded people who buy into the founder’s vision and continue the connection culture.”

Ms. Torres agrees. “Women are very family-oriented and natural-born nurturers, so we stick to small to build relationships and ensure that the business runs smoothly.”

Ms. Kitchen included that another possible factor is some women may lack the confidence to aggressively pursue funding and think scalable, even when they have a fantastic idea or product. “Our fears keep us back,” she said. “Courage and bravery aren’t words that used to be used to describe women, just men. Notice I say ‘used to.’ The shift is happening. Bold women help others to think big.”

How Are Women Able to Succeed in Business

Between 2014 and 2016, the number of women-owned employer firms grew six percent, double the 3% growth rate for employer firms owned by men. However, women are underrepresented as they are the majority owners of 21% of employer businesses. How can women change this? When it comes to women’s many skills, it seems speaking up more and teaching our daughters to advocate for themselves may be critical.

“We are underrepresented because we are busy running companies, so we do not have the time to market our success,” Ms. Capps disclosed. “We have to rely on others and mainstream media to do that for us. I believe women, especially female business owners, must join together to have our voices heard.”

Echoing that sentiment, Ms. Torres added, “Women can be better represented by having a strong voice and letting our representatives know that there is a need for more funding to open and run women-owned companies.” She also pointed out that, since women who own small businesses have increased over the years, they have been a large part of expanding the economy’s overall revenue. According to research, this is true. There are nearly 13 million women-owned businesses in the United States, employing 9.4 million workers and generating $1.9 trillion. Therefore, we deserve the recognition for the authentic and unique value we bring to the table.

“Many incredibly strong, smart people have been fighting for years to improve the status of women. And they have made remarkable progress, but we still have a long way to go to change how society understands vulnerability and connection,” Ms. Paradine said. “Women are often viewed as weaker leaders when they show vulnerability or emotion. Truthfully, those who lead with an awareness of their feelings and understand the importance of relationships are actually the best leaders. The way to change this is to keep working, listening, connecting, and building on what those before us have created.”

And you can’t talk about changing perceptions without acknowledging future generations. Ms. Kitchen reminds us of the importance of raising daughters who aren’t afraid to pursue some risk. “We need to teach them that when presented with an opportunity, to say yes. When I was a little girl, my parents told me I could do or be anything I wanted when I grew up, and I dared to believe them. My two daughters get to see their mom dream big and accomplish big goals. They cannot be what they cannot see!”

Speaking of showing our future leaders all that they can ascribe to, if you are a flourishing female entrepreneur and can afford the time, you may want to consider volunteering with organizations that support women in business or becoming a mentor. Several nonprofit organizations like Big Brothers Big Sisters of America or you can join impactful communities like Fairygodboss, Girlboss, or business.com community.