Women empowerment is spreading quickly across the sunshine state as more female-owned businesses pop up in urban cities like Miami, Orlando and Tampa. Since 1997, the number of businesses owned by women rose by 114 percent in the U.S. or 2.5 times the national average. Florida is paving the way with business growth.
State of Women-Owned Business Report, Florida ranks second in the nation in growth of women-owned firms with 208.3 percent increase over the last 20 years. It also increased in job growth by 33.8 percent and firm revenues by 96.7 percent.
Women are tackling multiple industries, but the top five industries for female-owned businesses are other services, health care, technical services, administration or management services and retail trade. The largest sector, other services, contains companies like hair and nail salons, pet care businesses and more.
Female entrepreneurs also have increased the survival rates for female-led companies as well as "entrepreneurial success," measured by gross sales and market share. Most female-owned businesses are comparable to their male counterparts.
Unfortunately, female business owners must often work harder than male owners to prove competence to customers, other owners and resource providers, especially in male-dominated industries like construction.
There also a gap reported in the capital funding process between women and men. Many female entrepreneurs cite negative misperceptions and discrimination while raising startup capital, but the gap has not been closely examined in recent years.
Luckily, women in Florida interested in business ownership have an abundant of resources for support through professional organizations, business grants and entrepreneurial training programs through the state. You can also research the business planning process in Florida to find additional information.