57 Percent of Women Entrepreneurs
KANSAS CITY, Mo., June 04, 2024 (GLOBE NEWSWIRE) — In a new nationwide survey commissioned by United WE and announced today at the National Association of Women Business Owners (NAWBO) Days in Washington D.C., 62 percent of women entrepreneurs indicate childcare options fail to meet their needs and negatively impact their business. In this study of 750 women entrepreneurs with children under age 6, the majority, or 57 percent, state that their business could be more successful if they had better childcare options.
“For years, women entrepreneurs have been taking a giant step forward to start their own businesses because they wanted more flexible childcare support,” says Wendy Doyle, President & CEO of United WE, a nonpartisan organization with a mission to advance all women’s economic and civic leadership. “What we’re learning now is that women entrepreneurs’ growth is being held back by inadequate childcare options, partially driven by critical needs within the childcare workforce itself.”
Women pack a powerful economic punch in driving the U.S. economy. According to a 2024 Wells Fargo report, women-owned businesses continue to positively impact the economy, representing more than 14 million of all businesses, or 39.1 percent, employing 12.2 million workers and generating $2.7 trillion in revenue.
“Similar to other foundational business functions like accounting, software and internet services, childcare also should be considered as a business support function,” says Jen Earle, NAWBO National’s CEO. “Heightened economic growth for women business owners depends on making this shift in thinking about childcare.”
Of the women surveyed, 66 percent launched their businesses to gain greater flexibility in childcare. Women entrepreneurs with household incomes under $100,000 were significantly more likely than those from higher income households to say that flexibility provided by entrepreneurship was a very important reason for their decision to launch their businesses.
When asked about their specific childcare needs, 31 percent of women say that flexible scheduling in childcare services is their first need. Second (29 percent) is the need for infant and toddler care followed by the third (27 percent), which is care during early morning and late evening hours.
“This data reveals that flexible childcare infrastructure is critical to support women entrepreneurs in fueling business growth,” said DeAngela Burns-Wallace, President and CEO, Ewing Marion Kauffman Foundation, who funded the survey. “When more flexible options for childcare are created, women entrepreneurs can achieve increased economic growth with the confidence their children have the best care.”
The nationwide research, conducted by Openfields, is part of the United WE Institute and available at www.united-we.org/2024childcaresurvey.
About United WE
United Women’s Empowerment, or United WE, is a nonpartisan, nonprofit organization whose mission is to advance all women’s economic and civic leadership. Since 1991, United WE has overcome systemic barriers to women’s economic development and civic leadership by investing in research, advocacy, and policy solutions. We have conducted 30+ meaningful research studies, advocated for issues resulting in 57 policy actions, and supported more than 200 civic appointments. Our work positively impacts hundreds of thousands of women and families by commissioning transformative research, scaling our fast-growing Appointments Project®, advocating for reforms that honor the legacies of women, and contributing to policy solutions that advance affordable childcare, equal pay, paid family leave and occupational licensing reforms. Unite with us. Visit www.united-we.org and connect with @UnitedWeEmpower on Facebook, Twitter, LinkedIn and Instagram.
