Who Are Female Founders?

Over the past few years, many women-led and women-founded companies have made their way under the microscope of scrutiny that for better or worse distinguishing their credibility from their counterparts. With the rise of third-wave feminism in mainstream media, many female founders have used this trend to brand their business in correlation with the movement itself. A few companies branding off of mainstream female empowerment quickly made their way to the top despite historical trends. 

Unfortunately, regardless of the apparent “all-inclusive” approach of these women-focused businesses, a gloom of exclusivity remains. In 2019, the New York Times Magazine exposed the realities of the exclusively “inclusive”, social and workspace for women. In hopes of creating a long-awaited place for women to dodge the patriarchally dominant atmospheres of other offices and workspaces, the Wing assumed the role of the photo-op ready place for any woman to come and forge their way to the top… that is if they are wealthy and white. The Times feature highlighted the voices of many former Wing employees that explained the racist and classist culture cultivated by the women in charge. 

Accordingly, the realities of the Wing’s atmosphere are transferable to the attitude towards women entrepreneurs and leaders in general. Although the past few years appears have fostered a further sense of inclusivity towards women in business, the stereotype of the ideal businesswomen has run contrary to the reach for inclusivity. While places like the Wing spread the message that the women capable of being successful are those that can afford to join their expensive space, in actuality, the majority of women entrepreneurs do not fit into this small box. 

Unlike the “girl boss” young and thriving stereotype, that around 50% of women business owners are between the ages of 45 and 65, and women of color account for nearly 50% of all women-owned businesses. Yet, even though the number of women-owned businesses has greatly been increasing over the past decade, there are still many barriers that women founders have to face. As proved by the statistics above, it is clear that not all women entrepreneurs are young, white, and wealthy.   

Although spaces like the Wing may prove to help some, their efforts clearly do not extend to all female entrepreneurs. Thus, it is important that help for entrepreneurs is extended to all those that need it the most. Studies show that it is crucial to provide financial intelligence and education, certification programs and access to finance, and extend the support in the form of policies such as affordable childcare and increased access to capital. 

While the implementation of these efforts may be higher than the work of the individual, switching our mindsets away from the idealized “girl boss” stereotype of a female entrepreneur to understanding the reality of the majority of female entrepreneurs is a step in the right direction. 

Come learn more from the Ideamix team, where we help you gain the entrepreneurial skills that best fit your needs!

Did you enjoy this article? Check out related podcast episodes: Entrepreneurs 101 – Haely White and Samantha Gutstadt, Don’t Call Me Mommy and Model Behavior with Savannah Vinson