Women, Entrepreneurship and Tech: A Transformational Combination
Women have only been in the workforce for about 40 years. With only a few exceptions, women rarely worked outside the home for a majority of the last century unless they were widowed, divorced or destitute. Triggered by the women’s rights movement, millions of women entered the workforce and hundreds of thousands of women launched companies during the 1970’s. For women business owners however, business startups stalled out within a decade.
Today, we know why. Barriers to successful entrepreneurship include a lack of access to capital, the industries women tend to choose and cultural roles that direct priorities in a woman’s life away from business. But knowing this has not provided us solutions for a roadmap to change it.
The creation of the Internet and subsequent technology innovations offer women new opportunities to start and grow profitable companies - no matter the industry she chooses, or the cultural pressure she may or may not feel to stay at home with children. Women of today can conduct business in harmony with other life roles, and balance profit with passion in a healthy manner.
We are ten years into a thirty year economic transformation; a transformation that (for the first time) makes it possible for a woman to choose and achieve success, however she defines it.
Key Points and TakeAways
- While nearly 30 million women own U.S. companies today, they are mostly very small and seldom generate wealth or normal profits. The factors that contributed to this are known but not likely to change. Until now.
- Woman-owned businesses have a unique opportunity to differentiate and grow their companies through the application of newly created technology innovations.
- Strategies for finding these innovations and five steps to implement them.
- Best practices from women who have applied technology innovation in large and small ways to transform their businesses.
Mo Collins is a New Economy specialist with more than 20 years of public sector, non-profit and entrepreneurial experience. She has launched and scaled multiple tech-based economic development initiatives, earning both national and international awards and is a published academic and online author, writing on topics associated with technology innovation, networking and entrepreneurship. Look for her upcoming book WE: Women Entrepreneurs, for release in spring 2017.