Women Entrepreneurs Day 2023: Date, History, Facts About Women-Owned Business

In the United States, women own 12.3 million enterprises, or 42% of the total number of businesses.

Women Entrepreneurs Day 2023: Women’s Entrepreneurship Day is annually observed on November 19 to debate the contributions of female entrepreneurs to the entrepreneurial community and to honor them. It is worth noting that the inaugural enterprise owned by women in the United States was founded in 1739.

Notwithstanding the progress achieved by women entrepreneurs since the Industrial Revolution, their expansion continues to be impeded by gender barriers, societal pressure, limited access to funding and mentorship, and inadequate education. Women’s Entrepreneurship Day is observed in over 120 countries and is coordinated by the WEDO (Women’s Entrepreneurship Day Organization). It is also recognized by the United Nations. Women who have made significant contributions to various industries are honored with the WEDO Pioneer Awards on Women’s Entrepreneurship Day.

Women Entrepreneurs Day 2023: History

Throughout history, women have participated in entrepreneurial endeavors; however, their status as entrepreneurs was not acknowledged due to the term’s traditional association with males. In the 18th and 19th centuries, the majority of enterprises owned by women were financed through personal income or bequests.

By way of inheritance, Eliza Lucas Pinckney of South Carolina became a prominent figure in the commercial world. At age 16, she assumed control of the plantations owned by her family, thereby becoming the first documented female proprietor of a business in the United States. Approximately at the same time, women began to own brothels, alehouses, taverns, and retail establishments. As a result of societal norms regarding what women ought and ought not to do, these enterprises were deemed disgraceful. As public opinion shifted toward the progressive in the 20th century, feminism gained widespread acceptance. Consequently, women in business were referred to as female entrepreneurs. During the early 20th century, black women emerged as the most business-minded and innovative demographic in the United States.

They made names for themselves in the fields of midwifery, private home domestic labor, dressmaking, and black hair care. As the first African American woman to attain millionaire status, Madam C. J. Walker was among the most accomplished ladies of her time. In the late 1980s and early 1990s, numerous organizations were established in the United States with the purpose of educating and financing female entrepreneurs. Count Me In and the Women’s Business Development Center are two such organizations. However, despite these efforts, they failed to achieve parity in standing with their male counterparts as entrepreneurs. Since the year 2000, support and attention for female entrepreneurs have increased, and financing is now more accessible than ever before for businesses owned by women.

Following her 2013 return to the United States from Honduras as a volunteer with the Adelante Foundation, Wendy Diamond initiated a program to empower women in business. As a result of this effort, the Women’s Entrepreneurship Day Organization was established. On November 19, 2014, WEDO observed THE FIRST Women’s Entrepreneurship Day in more than 140 countries, including the United States. Subsequently, the United Nations observed the day, New York City and Los Angeles proclaimed it an official one, and the U.S. House of Representatives acknowledged its significance.

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