US women-owned businesses generate $1.8 trillion a year
40% of all US businesses are women-owned
Women start over 1,800 net new businesses every day
64% of new women-owned businesses were started by women of color
Black women-owned businesses grew at 50% from 2014-2019
Latina women-owned businesses have grown more than 87% since 2007 with more than 400 started every day
There are 114% more women entrepreneurs today than there were 20 years ago
Women entrepreneurs’ competency and market knowledge is routinely disregarded, including market opportunities they identify.
Women entrepreneurs often experience limited, gender-based, access to established social and business networks, creating less access to knowledgeable mentors, ongoing education and capital expansion.
Managing expansion while underfunded
Barriers to start-up and growth capital create new, ongoing challenges, including constraints on funding for recruitment, access to new markets and overall expansion.
While PPP, small business relief funds and grant programs have provided short term financial relief, they may not fully address the chances for small business recovery and long-term survival of WOBs. Covid-19 has created a “She-cession” disproportionately impacting women and WOBs.
WOBs need more than capital - they need access to ongoing education, coaching/mentoring, community, networks, guidance and exposure in order for them to sustain, recover and prosper. Without this support, the Shecession worsens.
Luminary Women-Owned Business Fellowships deliver the following:
Luminary Fellowships invest in women-owned businesses for the long-term, delivering the necessary tools in order to rebuild, recover, manage and grow your businesses. A check helps for a day; a Luminary Membership provides for a lifetime.
Thank you to to our Fellowship partners including: