In October 1988, the Women’s Business Ownership Act was signed into effect. This was a huge win for women’s equality– before this bill, certain states required a male family member as a co-signer when a woman applied for a business loan.
Since 1972 (the year the US Census Bureau first separated data on women and minority-owned businesses), the number of female-owned business has skyrocketed. As of 2019, 45% of all U.S. businesses were women-owned and produced 1.9 trillion dollars in revenue. Of small businesses, women own roughly 31%, with 50% of these small business owners being women of color.
We at Jedwards want to make sure we highlight this celebratory month, as many of our customers are women running their own small business. Whether you’re making product in your garage, have upgraded to a small production facility, or are now bigger than you could have ever dreamed of: we’re here for you and want to continue to support you.
This October we’d love to hear your small business story! Leave a comment below or on our Facebook and let us know how/when you started, and how it’s going now!