Funding gap for women-owned businesses: A $4.4 trillion opportunity

By Katherine O’Malley | Stacker It’s time to close the funding gap and open more women-owned small businesses. As of 2019, there were more than 13 million women-owned businesses (including sole proprietorships and employer firms). That sounds like a lot, right? But that number actually hides a trillion-dollar missed opportunity. According to Morgan Stanley, if women-owned (and minority-owned) businesses were funded at the same rate as white male-owned businesses, gross receipts could increase by $4.4 trillion. And that was before the pandemic disproportionately impacted both women-owned businesses and the women in the workforce. Women can start any small business they want—including full-time or side businesses, franchises, and home-based businesses. Lendio takes a look at services that are in high demand for female entrepreneurs in 2023. Growth industries for 2023 To be a successful small business, you need customers. What’s the easiest way to get customers? Give them what they want. With that in mind, here are some industries that are poised for growth in 2023 and beyond. Cybersecurity Data is an asset, and our online lives are here to stay, so businesses and customers alike need solid methods for protecting their online identities. No wonder Gartner ranked cybersecurity mesh as...