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MORE WOMEN THAN EVER ARE STARTING BUSINESSES
Kiplinger's Personal Finance
|July 2024
Retail and travel businesses, along with health, beauty and fitness, are popular with women entrepreneurs.
Your research shows a 21% increase in small businesses owned by women in the past five years. What accounts for this trend?
The COVID-19 pandemic opened up new opportunities for business owners and increased the number of people looking to start a business. Women are jumping in to fill gaps and needs in their communities while supporting their families. This growth is reflected in the increasing number of women seeking guidance for their business ventures-64% of SCORE clients are women, up from 60% two years ago. For example, with help from SCORE mentor Suvendoo Ray, Tonyia Smith of Seattle created a gluten-free, woodfired pizza crust that is partially baked, frozen and sold to hotels and restaurants. She's currently working on cobranding with Hormel Foods to expand into the frozen pizza industry.
What types of industries are attracting women entrepreneurs?
This story is from the July 2024 edition of Kiplinger's Personal Finance.
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