Women and minorities have historically had difficulty obtaining equal opportunities in large corporations. While improvements have been seen within corporate America in terms of workforce diversity, the fact remains that fewer opportunities exist there. Small business, however, represents a rich field of opportunity for business owners.
Consider these statistics:
The NAICS Association, providing numbers updated through October 2020, reports over 17.6 million businesses in the United States having at least one employee. Of that number, the U. S. Census Bureau estimates that there are 1.1 million businesses owned by women and 1.1 million owned by minorities. These are powerful, yet under-represented business segments.
Supporting women business owners helps to:
- Close the wage gap.
- Empower mothers and underprivileged women.
- Elevate women of color.
- Improve the financial position of women.
Women business owners are a great credit to business because they:
- Are inclined to place great importance on the mission and values of a company and help their employees understand their contributing role.
- Have the characteristics for steering business transformations beyond profits, enabling their businesses to succeed over the long term.
- Have been recognized for creating healthy workplace cultures by creating an atmosphere that enhances confidence and trust.
- Care about work/life balance and help employees lead whole lives by using more flexible working arrangements.
- Are collaborative leaders.
Reasons to Support and Empower Minority Business Owners
Supporting minority business owners helps to:
- Close the racial wealth gap.
- Strengthen local economies.
- Foster job creation.
- Serve communities by celebrating minority cultures.
- Hold other companies accountable.
Why Small Businesses are Especially Important for Women and Minorities
- Expand the potential of the job market.
- Increase the opportunities for independence and entrepreneurial activities.
- Stimulate and bind a community together.
Seek Expert Financial Assistance
Contact Star Capital USA, based in Greenwood, IN. We say “Yes” to the unique needs of small businesses by offering an extensive portfolio of commercial finance products designed to provide the essential funding to fuel your enterprise’s growth.