“There is an archetype that the entrepreneurial world has when they think about what success looks like in start-ups,” Abbs told Yahoo Finance. “Women, we don’t see ourselves as part of that archetype, we don’t feel as invited into that space.”
‘Entrepreneurialism really favors the bold’
Arielle Cohen — Founder of Design Troopers and alumna of the Miami WIN Lab — told Yahoo Finance she “was born to stand out, and when I walk into a roomful of men and male investors, I'm usually one of the only females in the room...
“I play the role that I am, a female-owned business, to my advantage and I let the numbers speak for themselves.”
Nathalie Cadet-James — Founder of Luxe Fête Social — shared some insight gained from her experience in the Miami WIN Lab. “I have found a lot of great advice. We share a lot of resources. It’s that community that will help you grow your business as well.”
Abbs noted: “The more sensitive, emotional, soft-spoken a woman or a man is, the less likely they are to get funded.”
Women-owned businesses by the numbers
American Express’ 2018 annual State Of Women-Owned Businesses Report found that:
4 out of 10 businesses in the United States are women-owned
Women of color account for 47% of all women-owned businesses
The estimated 5,824,300 women-of-color-owned businesses employ 2,230,600 people and generate $386.6 billion in revenues.
From 2007 to 2018, the number of businesses owned by women of color grew 163% — nearly three times the 58% growth rate of women-owned businesses as a whole.