Women Started 49% of New Businesses in 2024

Women entrepreneurs have been on a tear of upward momentum as of late like never before. A burgeoning landscape of women-owned businesses swept 2024 by storm across the nation. Empowerment and autonomy are only a few of the benefits that women can accrue when taking their livelihood into their own hands. Actualizing a business from the ground up is no simple feat, and women are embarking on this crusade at never before seen rates.

Geri Stengel describes this exciting uptick in women’s entrepreneurship for Forbes,

“Gusto’s latest survey of businesses reveals that women are starting businesses at unprecedented rates. Women started 49% of new businesses last year, a 69% increase from 2019 and a five-year high. Gusto’s research adds demographic depth to the Census Bureau 2024 business formation numbers. From addressing women’s wellness needs to tourism and real estate investment opportunities to leveraging AI in media analysis, these three stories showcase the dynamism and challenges of female entrepreneurship in 2024.”

Self-reliance and self-sufficiency derive from economic independence, which is a powerful byproduct of founding your own company. But wealth is not an immediate result of entrepreneurship, as establishing a business is always a risk, which Melissa Houston explains in her article, “The Realities Of Building Wealth Through Small Business Ownership,”

“Wealth from business doesn’t come from chasing quick sales; it comes from building an asset. A real business grows in value over time, becomes less dependent on you, and eventually gives you options: to scale, sell, or step back. That takes strategy, not just hustle. You need more than a good offer and a few paying clients.”

The strategies that Houston outlines for this common goal are

1. Build a profitable model
2. Treat your business like an asset
3. Monitor cash flow and profit
4. Create personal wealth from business income

wegg® is here to support women business owners and entrepreneurial pioneers at every stage of their journey, empowering them to create a more equitable, thriving, and impactful world.