THE ECONOMIC IMPACT OF WOMEN-OWNED BUSINESSES

Abstract

Women-owned businesses have a significant impact on our society. This paper examines the contributions that women-owned businesses make to the economy as well barriers and challenges that these businesses face. This research examines the main causes for the barriers that women-owned businesses face, specifically those businesses owned by minority women. A literature review and interviews were conducted. Key variables were examined on the following topics: women-owned businesses, the economy, the pandemic, and systemic injustice. In addition, interviews were conducted with three women who are leaders in business to gain their insights and get a first-hand account of their experiences. Finally, resources were compiled on advocacy, networking, assistance, access, and leadership to further aid in the success of women owned businesses. The results of this research open up further questions about how the government and society as a whole can further support women entrepreneurs as well as pushing for further research into systemic barriers that are preventing minority women-owned businesses from growing.