Growing Technology’s Benefits for Female Entrepreneurs

BY ELLIE KEUM

Women-owned businesses have recently been booming. According to Wells Fargo, “From 2019 to 2023, women-owned businesses’ growth rate outpaced the rate of men’s 94.3% for number of firms, 252.8% for employment, and 82.0% for revenue.” In the United States, by October 2023, women-owned businesses made up almost 40% of businesses according to Forbes. One of the factors in this increase of female entrepreneurship success is the presence of technology. 

Technology is a tool that has been recognized by the UN Women’s innovation strategy, which states that “innovation and technology provide unprecedented opportunities to break trends and reach those who are the most likely to be left behind.” 

Mobile communication. Tutorialspoint

Mobile devices such as phones and tablets give women the opportunity to bring their work to their homes. This is a flexible method that ensures a larger berth of time for both home responsibilities and business, even if not at the office. It also helps women with their home life and work balance. 

Furthermore, access to search engines and mobile devices help women promote their businesses. It is difficult to attract customers without some form of advertisement. According to Connected, “Today, it’s possible to reach customers through digital advertising on social networks, PPC ads, and much more.” Some marketing platforms women are using are LinkedIn, Facebook, Instagram, and they are also advertising in search engines. 

Technology also increases women’s networking opportunities and skills. It is a helpful tool for reaching out to people with more professional exposure to seek their advice as well as draw inspiration from others you may see online. The Women Entrepreneurs Review says, “Entrepreneurs who achieve notable results can utilize platforms like social media, websites, blogs, and the like to tell their stories and share their experiences, thus motivating others.”

Now, many make arguments that online presence and technology are detrimental to one’s health. While this may be true in some cases, technology is beneficial to many, including aspiring female entrepreneurs. 16-year-old Alyssa Filmer says, “I am really looking into going into the business field, and I have already used technology to communicate and connect with people and effectively complete tasks. It has helped me in so many different parts of my high school life.”

It does not end here. Technology is still on the rise and can be your friend as a female entrepreneur.