By Prachi Jain
According to the National Association of Women Business Owners, more than 11.6 million firms are owned by women and they generate $ 1.7 trillion in sales (as of 2017). And according to US Small Business Administration (SBA), women are launching a net of more than 1,100 new businesses every single day.
These statistics speak volumes.
The growth and accomplishments of women are paramount. Their passion and contribution, invaluable. Behind these impressive statistics is a beautifully balanced amalgam of their grit, perseverance, challenges, and obstacles.
As a community magazine, we see remarkable stories of advancements and accomplishments of local businesswomen and we are proud to celebrate their hard work and drive.
Safra A. Catz, Co-CEO of Oracle aptly states, “I like to say it’s an attitude of not just thinking outside the box, but not even seeing the box.” These trailblazing businesswomen are creating an inspirational legacy for the next generation of women entrepreneurs and in doing so are stepping out of their proverbial “boxes” and in some cases completely obliterating the pre-defined lines.
The First Woman Entrepreneur
According to recorded history, 16-year-old Eliza Lucas Pinckney was the first woman to set up shop way back in 1739, decades before the United States declared its independence. Her father sent her indigo plant seeds from the West Indies to diversify the rice crop. She saw the
possibilities as a true entrepreneur would, and started the production of a high-quality blue indigo dye for the growing textile industry. Owing to her sharp business acumen, South Carolina’s growth of indigo exports rose to 130,000 pounds from 5,000 pounds – a remarkable achievement indeed!
Challenges: Men made almost all of the financial decisions in the 18th and parts of the 19th Century.
With the shift in societal norms, there was also a paradigm shift in the roles of women. From managing homes to managing offices, women formally entered the workforce during World War II paving the way for “female entrepreneurship.” They worked in defense plants, in the army, as nurses, drivers, and secretaries, and still successfully managed their households.
Shattering The Glass Ceiling
The collective force of women’s leadership capabilities started positively impacting the economy and the society and by the 20th century we were honored to see the rise of charismatic women leaders like Margaret Rudkin, the creator of Pepperidge Farm; Estee Lauder, who co-founded her eponymous cosmetic line, and many more successful businesswomen like Oprah Winfrey, and Martha Stewart.
Challenges: Up until 1988 a woman entrepreneur needed a man to co-sign on her business loan.
The Upward Trajectory Continues
Today, women business owners are moving the goalpost farther, achieving higher and inspiring scores of others.
Anne Wojcicki, the co-founder of 23AndMe, and Reshma Saujani, the founder of Girls Who Code to name a few, make the elite list of women entrepreneurs who have broken barriers in the business world.
Challenges: Balancing both personal and professional demands.
The common denominators: Dreams, drive, and determination
Whether the head of a giant conglomerate or a proud small business owner, these women truly shine with sparks of passion and fortitude. They see opportunities, embrace the challenges, and fuel themselves with enthusiasm.
Women in business mean business!
And we, The Connection Magazines, are delighted to be part of the movement that started centuries ago with Eliza Lucas Pinckney and continues with the likes of all of you savvy women business owners.
Resources: https://www.sbdcnet.org/sbdc-national-blog/women-in-business-brief-history
https://www.sbdcnet.org/small-business-information-center/women-and-minorities
https://smallbiztrends.com/2018/12/history-of-women-entrepreneurs.html