Here at Clare Makes, we're a female-owned business so we like to think we know a thing or two about what makes supporting a business run by a woman, so great.
Women-owned businesses are a significant part of the economy. They account for 36% of all privately owned businesses and employ 8.3 million people.
In the retail industry, women-owned businesses are taking a larger share of revenue than ever before, accounting for $1.5 trillion in sales in 2018.
Female entrepreneurs have also been found to be more effective at marketing their business online than men, with 58% of them using social media to promote their products and services compared to only 43% of male entrepreneurs.
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There are many benefits of shopping from a female owned business. For one, you have the opportunity to support a woman in business. You also have the opportunity to provide feedback and advice to this business owner.
A female-owned business can be a great place for women to find products that are tailored specifically for them. This is because it is often hard for women to find clothes that fit their body type or styles that they like in stores.
Lastly, by shopping from a female-owned business, you are supporting a woman's right to earn an income and take care of herself and her family on her own terms.
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Women are still underrepresented in the workforce, but they're taking over the economy. According to a study by American Express OPEN, women entrepreneurs are more likely to report higher levels of success in their business endeavours. They also have a greater chance of being engaged employees and high-performing managers than men do.
Women-owned businesses in Australia are a growing phenomenon. These businesses are flourishing and have been for the past five years, with the number of women-owned small businesses increasing by 27% in the last five years.
The growth of these small businesses is largely due to women feeling more empowered to start their own business as well as a general societal shift towards supporting female entrepreneurs.
In Australia, women own just 8% of all businesses. This is a lower proportion than in any other country. Yet women-owned small businesses are much more likely to employ women and pay them higher wages than the national average.
If you want to support women in business, shop from a woman-owned small business.