It is 2022 and we are still compelled to use the term “women entrepreneurs”. This just goes on to show that despite some landmark and remarkable changes, there is still a long way to go as far as gender parity is concerned.
This can only ultimately be remedied by women ensuring their participation in the commercial sphere. In fact, Hillary Clinton once said, “Women are the largest untapped reservoir of talent in the world”, and we cannot agree more. We just need to channel it right.
If you are a woman with entrepreneurial aspirations, then you have landed at the right place today. We are here to share some business ideas with you that can suit all kinds of budget and scale. Stay tuned and know more.
- What do statistics say about women entrepreneurship?
- Things to consider before starting any business
- Viable business ideas for women in 2022
- Blogging or Content writing
- Social media professional
- Media & PR services
- F&B industry
- Real Estate
- Retail & E-Tail
- IT services
- Financial Services
- Consultancy services
- Legal services
- Stock trading
- Veterinary & Pet-care services
- Urban décor & Landscaping
- Horticulture & Gardening
- Makeover specialist
- Photography & Videography
- Event Management
What do statistics say about women entrepreneurship?
Let us start with discovering some statistics that will give a better understanding of the ball game. Notable data and facts related to women in business around the globe are as follows:
- There are 12.3 million women-owned businesses in the U.S. This is roughly equal to 42% of all companies.
- More than 9 million people are employed by women-led companies.
- Women-led businesses generate around USD 1.8 trillion annually in the US.
- As per Wikipedia, women were CEOs at 8.2% of Fortune 500 companies in the year 2021.
- Organizations that prefer women in leadership roles achieve 90% retention rates.
- 36% of small businesses are owned by women worldwide.
- The number of women-owned businesses, only in the United States has grown by 114%.
- 10 women-owned companies became unicorns in the first half of 2019.
- More than 46% of private businesses in Ghana are women-owned.
- California has 1.3 million women-owned firms which is the highest in US.
- 47% of women started a business in the last year, compared to 44% of men.
- 62% of women business owners are between 40 and 59 years old.
- 12.6% of businesses in the United Arab Emirates are owned by women. 75% of these businesses are global.
- Women entrepreneurs get 8.4% more crowdfunding as compared to men.
- 350 newly founded companies showed that female-owned businesses are safer for investors.
- 46% of women use credit cards for their business as compared to 39% men.
- Men are 3% more likely to borrow and 6% more likely to save for businesses as compared to women.
These were only some of the many statistics that assert the potential of women entrepreneurs. They are a driving force in the global economy and ensuring more female participation can give a boost to productivity and development for their nation as well as the world at large.
Things to consider before starting any business
We have several business ideas for women entrepreneurs. However, before you go all guns blazing into your entrepreneurial venture, there are several factors to consider. Whether you want to start a full-fledged or a part-time business, how much time and resources are you willing to invest, are some of the questions that must be answered.
Some important factors to consider before starting any business are as follows:
Skills & Experience
It is great if you want to start a business that aligns with your interests. However, you will also need to assess your skills and experience and look for guidance accordingly. Do not shy away from taking professional help for matters that are beyond your expertise.
Identify a problem that you need to solve or a need that you want to cater to. This will help you identify your audience and propel your business in the right direction. Find the answer to the query “How is my business unique”, in order to find its USP (Unique Selling Proposition).
Define the structure of your business. Whether you are willing to work alone, find a partner, hire a staff, and so on, are some of the things you need to determine. You can start it alone if you want monopoly and decision-making power or look for a partner if you want to share the risk. You can also look for third-party investors and fund-raisers and give them shares.
Budget & Finances
Assess your assets and liabilities and plan out the logistics for your business accordingly. The budget you have will ultimately determine the course of your growth and expansion. You can also consider taking loans and looking for investors, as discussed above. Also figure out everything from managing accounts to taxes, salaries, etc., before venturing into the business.
Location & Medium
Do you want to target a locality or a large demography? What will be the location and reach of your business? Do you want to open a store or run the business online? These are some of the factors that you must be sure of.
Social & Legal aspects
From managing compliances to ensuring ethical practices, owning a business comes with many nuances. Ensure that you have reliable experts to guide you and that your business adheres to the rules, regulations, and laws prevalent in your location. Carry out all the paperwork carefully in order to run things smoothly thereafter.
Once you have answers to these questions, you can safely proceed to turning your ideas into reality. Let us go through some ideas in the next section and give you some food for thought as you finalize your niche and other dynamics.
Viable business ideas for women in 2022
Based on employee strength, businesses can be classified as SMEs (small and medium-sized enterprises) with fewer than 250 people or Large Enterprises with 250 or more people. SMEs are further subdivided into micro enterprises (fewer than 10 employees), small enterprises (10 to 49 employees), and medium-sized enterprises (50 to 249 employees).
Now based on your idea, budget, niche, etc., you can become a solopreneur and manage things single-handedly or start a bigger enterprise where the responsibilities are divided. This should not make much difference as you can always scale your business later. In fact, the lines may also appear blurred at times.
From homegrown business to large scale startups, there are ample options out there. We have tried to cover several small business ideas for women entrepreneurs as well as those that need enterprise level involvement. Let’s go through them one by one and you can pick whatever suits you the best.
Blogging or Content writing
No matter what your expertise or skills are, if you are a wordsmith then blogging and content writing is one of the best tasks you can take up. You can offer content or copy writing or editing services to other companies or start your own blog based on your interests. There are ample options to earn through blogging (or vlogging) and you can get paid for advertisements, affiliate partnerships, brand shoutouts, and more. The possibilities in this industry are truly endless.
The marketing industry has changed dramatically over the years, and it has become an umbrella term for multiple kinds of options. You can start a marketing agency or simply become a freelance marketer for your clients. Again, you can choose from a range of options like Affiliate Marketing, Influencer Marketing, Social Media Marketing, etc., and cater to a broad range of customers.
Social media professional
No matter how much we try to underplay it, the power of social media in todays’ day and age is HUGE. If you love spending time on social media channels and want to earn out of it, the options are endless. You can become an influencer and entertain or educate people on issues that interest you. You can also get into social media copywriting, marketing, advertisement management, etc., and even open an agency that offers digital and social media management services to clients.
Media & PR services
Every brand and individual are concerned about their image in today’s day and age. You can open your own PR firm and enable people to build a good brand reputation and image. You can choose from a range of options like celebrity PR, corporate PR, etc. Else, you can also launch your own media or entertainment house and run your own news, entertainment or lifestyle channel for the broadcast or social media.
Gone are the days when tutoring was considered one of the only few suitable professions for women. In fact, women are taking up many critical roles in the academic industry as well. From teaching courses to running their own online and offline academic platforms and institutions, women are doing it all. You can also run a traditional or vocational training institutes and prepare professionals for different walks of life or offer career counseling to graduates. You can also offer personality grooming and training in soft-skill or performing arts.
The term healthcare is very broad. If you are a medical professional, you can open a clinic or wellness center or invest in people who can do it for you. From hospitals to medical schools, the scope is unlimited. Additionally, if you are a fitness freak, you can also open yoga & meditation centers, gym, etc., or become a life coach and help people attain their goals of physical and mental fitness.
There is just so much to do in the food and beverage industry today. You can open a restaurant, confectionery, bakery, cloud kitchen, etc., or run a food blog or food delivery business. You can also create a food aggregator app or a restaurant reviewing service. As mentioned, the options are as versatile as the food and beverage industry itself. You can put your culinary skills to use or channelize the connoisseur in you, or simply take charge of the administrative responsibilities.
This is an industry that demands investment but also has the potential to give immense profits. You can offer real estate advice, own rental properties, invest in stocks and funds related to real estate, and more. You can also create your own realtor apps and connect people with buyers, landlords, tenants, etc.
Retail & E-Tail
eCommerce stores and apps have become one of the most profitable investments from a business perspective. From fashion & apparel to beauty & personal care, grocery, medicines, etc., there are so many things that you can sell offline or online (we recommend online). You can enter the retail industry and give shape to your dreams by creating any kind of business from scratch. The options and opportunities are both endless.
The IT industry is one of the biggest in the world and has ample opportunities for all. You can put your IT skills to use and start a web development, app development, or any other related business. With the help of code-free app maker tools, you can also start your reselling agency and sell DIY app development services. You can also go for options like software development, UI & UX designer, etc.
Are you good with the numbers? Then put your talent and qualifications to use and offer financial services. Set up a business in this domain and offer any and all kinds of financial services to clients. You can also go for banking, insurance, tax-filing, and loan related services and develop a business in that realm.
Just like the term counseling, consultancy service also has diverse applications across many verticals. However, at the core of it, it is basically you and your team offering your expertise to others. Based on your interests and qualifications, you can offer legal, financial, corporate, IT (Information Technology), SEO, or other consultancy services to customers.
Corporate, civil, criminal, environmental, etc., are only some of the many legal services prevalent today. If you have the resources and expertise, you can open your own law firm and offer legal services to all kinds of clients. Else, you can simply pick one niche and stick to it. The best thing is that you can do this on an individual as well as enterprise level.
This is one of those options where you can earn a good amount of money even at the comfort of your home. If you have an understanding and grasp of the stock market, then you can start immediately. Else, you can do some learning first and then proceed with baby steps. Start with investing a small amount and then grow as you learn the trade secrets.
Veterinary & Pet-care services
Pets are family to many. If you also have an affinity towards animals, you can easily make a profession or business out of it. If you are a vet, you can open your own clinic or offer pet care and grooming services. You can also sell pet care products offline or online and help pet parents take better care of their furry friends.
Urban décor & Landscaping
Interior decoration is not the only business when it comes to beautification of buildings, houses, institutions, offices, etc. Besides decorating interior spaces, you can also become an urban landscape artist and help people enhance the aesthetics of their surroundings. This is a rapidly growing industry, and you can enter it now to make the most of its zenith.
Horticulture & Gardening
Gardening is not just a hobby but a valuable industry in today’s age. People crave for greenery amidst concrete jungles, and you can offer them the same. Garden designing, lawn and garden grooming, florist services, online flower delivery, online nursery, organic farm product delivery, and so on! The list of jobs and businesses centered around horticulture & gardening are endless. If you are passionate about plants and produce, then base your business on one of these ideas and grow it full-scale.
Photography & Videography
The struggle of popularizing the term “camera person” instead of “cameraman” was real. However, women behind the lens are now ruling in several industries including media, entertainment, etc. If you love to capture life, then you can also create a photography or videography business. You can offer your services to individuals, corporates, government organizations, etc., and make a good living out of it.
From managing corporate events to concerts, seminars and even weddings, there is so much to do in the event management business. You can start one of your own and run your show the way you want. It is a multi-billion-dollar industry and has been constantly growing. The best thing is that you can also start a small company and then scale to bigger clients while gaining experience on the way.
These were some of the best business ideas for women. Choose whatever suits your interests and your skillset and go ahead. You can go with either the best industries or the fastest growing industries for women, or just go ahead with something totally different. Trust your calling and make a choice as per your preferences.
Where to start?
The decision is entirely yours. If you are planning on having a brick-and-mortar business, then depending on your choice of start-up you can start from your home or get a shop or outlet. You will need a viable location, a team of professionals, vendors for procuring the raw material, etc. However, in the age of eCommerce and mCommerce, websites and apps can be a safer bet. It is easy to start selling through a website or app, as compared to physical stores.
Low barrier to entry, less start-up costs, easy access, etc., are some of the factors that make websites and apps better than traditional business outlets. You can start with creating a website on WordPress. It is the most popular website builder and rules around two-third of the entire CMS market. Create a website for any kind of business and launch it to connect with your customers. Next, go ahead and complement your website with an equally powerful app.
In the age of smartphones, having a website is not adequate. Do not worry. Building an app is not a herculean task anymore. You can build premium Android and iOS apps for your website with code-free app builder. Once your website and app are set up, go ahead, and start building your consumer base. Promote and market your business and unleash your true potential. If you need some guidance for setting up your website and app, you can refer to our blog suggested below.
Which business is most profitable for women?
As per some studies, women are making rapid progress in sectors like Hospitality, Financial Services and Professional Services. Some other fastest growing industries for women include Computer Programming, Information Services, Education, Personal Services, Education, Real Estate, and more.
Which business is best to start for women?
There is no absolute answer to this question. However, some of the industries with the maximum women strength include Education, Healthcare, Retail and Catering Services. You can start a business related to one of these industries or go unique. You can make any business profitable with the right strategy, efforts and resources.
What industry has the most female entrepreneurs?
Data shows that the most common sector for female entrepreneurs by number is Business and Professional Services with around 2,245 businesses in the UK alone. While this report is based on the UK, it gives a clear picture of the rising participation of women in this sector. Even in the US women dominate sectors like Professional Service, Healthcare & Fitness, and Apparel & Accessories among others.
How can a woman start her own business?
Start after proper research and align your plan with your goals. We recommend launching an online business but you can also pair it with a brick and mortar store if needed. Create a website and launch an app for your business and get the ball rolling. Scroll up to the “Where to start” section above in the blog and get more information in detail.
Over to you
That was all from our end. Now it’s time for you go-getters to rise and shine. Find a suitable niche and channel the entrepreneur in you. Contribute to the world’s growth and development and make your mark in the commercial map.
If you need further help with the development and marketing side of the business, then you can refer to our other blogs as well. We cover a range of topics on development, promotion, marketing, etc., that can help you get started with ease. If you want us to cover something of your choice, then let us know in the comment section below.