Women are leaving the workforce in droves in favor of being at home. Not to be a homemaker, but as job-making entrepreneurs.
A quiet revolution is taking shape right now among women. Unlike the Quiet Revolution that began in the 1970s which saw women leave the home and enter the workforce in droves, women today are leaving the workforce in droves in favor of being at home. But unlike generations of women before, these women are opting to work in the home not as homemakers—but as job-making entrepreneursIt’s the data released this week though by the National Federation of Independent Business about how women entrepreneurs fared during the recession that really cements that this is a revolution with staying power.Women have been starting businesses at a higher rate than men for the last 20 years and tend to create home-based micro (less than 5 employees) and small businesses. Women will create over half of the 9.72 million new small business jobs expected to be created by 2018 and more and more are doing this from home offices across the country. It’s a surprising statistic, especially considering that women-owned businesses only created 16 percent of total U.S. jobs that existed in 2010.
The recession was tough for many small business owners and nearly half of women-owned businesses still haven’t been able to climb back to pre-recession sales, but they persevered and adapted to a new economy. Controlling costs was the most popular strategy adopted among women entrepreneurs to get through the recession and there was a 52% increase in the number of women entrepreneurs using social media to boost business while saving on marketing costs.
“The result…is a new cohort of women-owned businesses, battle-tested and more competitive than the generation that preceded them,” says William Dennis in the report. With more women starting businesses and succeeding there’s an opportunity to reshape the working landscape.
With job satisfaction and work environment satisfaction at an all-time low, something needs to change and this could be a step in the right direction.
Let me make it very clear here: I’m not saying women are better or that women starting more businesses means the world is all rainbows and butterflies. Women just do things differently in the world of business and different should be welcomed.
Many women view corporations today as being fundamentally flawed and limiting in their value structures. The Guardian Life Index, an initiative to understand America’s small business owners, cites “office politics” as a driving factor for women leaving Corporate America to start businesses.
With the cost of starting a business at an all-time low, women are saying “no thank you” to spending years climbing and clawing their way up the corporate ladder, dealing with corporate politics, and working long days without feeling the overall fulfillment they crave.
Many women start businesses that align with personal values and offers freedom and flexibility when it comes to things like scheduling. ”The glass ceiling that once limited a woman’s career path has paved a new road towards business ownership, where women can utilize their sharp business acumen while building strong family ties,” says Erica Nicole who left Corporate America to start YFS Magazine.
By Natalie MacNeil
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