By: Cammy Pedroja
Haven’t found a job where you get to flex your skills and creativity while getting paid like a boss? Join the movement and create your own. At least that's what women today have been turning to in large numbers.
In a corporate climate where women have historically faced some pretty lopsided statistical barriers to scoring leadership positions, the tectonic plates of power are beginning to shift. In 2016, two out of five new businesses were founded by women, and from 2016 to 2017 women at the head of new business ventures grew worldwide. This inclination is likely to continue in 2018, partly due to a trend of daring women sidestepping the traditional corporate ladder route and putting themselves at the helm of their own ventures.
Look at it this way: currently, female CEOs only make about 7% of Fortune 1000 companies. So, if you see that a system isn’t working for people like you, would you try your luck toiling at the bottom, or would you take the reins into your own hands and reach for your career dreams on your own power?
Up to the Challenge
On last year’s CNBC Upstart 25, a list of the most promising startups published for the first time in February of 2017, a surprising 40% of the new companies featured were founded and run by women. Now that this year’s list is nearing its release date, it’s likely that even more promising female bosses will be featured, as we’re smack in the middle of a female entrepreneurial boom. In fashion and retail, however, where you might expect female talent to get more clout than in other industries, the growth rate of women owned businesses still trails all the other industries analyzed by the 2017 State of Women-Owned Businesses Report.
So, what can those who work in the fashion world do to increase the number of women on top in the field? Hire them. Recognize their strong work. Mentor them; and promote them. And in the case of those talented women who want to make their own way, fund them. Even though women are going into business for themselves in record numbers, they are still being funded at markedly lower levels than their male counterparts. Boo.
Betting on the Female Future
But wait, there’s still good news for equality on the horizon, as female resilience strikes again. Even with the knowledge that they may face more difficult challenges than male founders, the ladies are still betting on themselves and starting their own business at increasing rates, regardless of the lopsided funding flow. The Female Entrepreneurs Institute now estimates about 1000 women are starting their own businesses every day. So, tell us—how will you support this intrepid movement of girl bosses?
Photo: Interview Magazine