Women in Business, often bring skills to the table that give them an edge in business.  Discover how their skills benefit the economy here in North Carolina.

Women in Business

The number of women-owned businesses in the United States has been on the rise in recent years. According to a study by Fundera, the number of women-owned businesses increased by 58% between 2007 and 2018, which is a significant increase compared to the 12% increase in the number of all businesses during the same period.

One of the reasons for this increase is the unique skills and traits that women bring to the table. A study by Calpers found that successful women leaders possess common traits found in all good leaders, especially women business leaders. These skills include trust and integrity, compassion and humanity, resilience and persistence, and intuition.  Women owners and managers are changing American business by promoting diversity and inclusivity. Women tend to be more open-minded and inclusive in their leadership styles, creating more diverse and welcoming work environments. Women owners and Managers often create a more collaborative work environment. 

Women in Businesses as buyers and  Managers

Women owners make excellent purchases and procurement decisions for their businesses.  This is often because of their savvy buying skills, strong negotiating abilities, organizational skills, and attention to detail. As more organizations recognize the value of diversity in their workforce, it is essential to consider the unique contributions that women can bring to the business.  Knowing when its time to modernize equipment or when its time to wait for stronger revenue growth. Then determine the best deals as women have had to make these weekly decisions for their own families for decades. 

Women are shaping the North Carolina Economy

In North Carolina, many women-owned businesses have leveraged these skills to achieve their goals. For example, VibeHouse405, a woman-owned and operated coworking space in Wilmington, has been recognized for its creativity, collaboration, and community-building. The founder, Latoya Harris, has been praised for her leadership and vision, which has helped her build a successful business that serves the needs of her community.

In a 2018 study, the Charlotte-Concord-Gastonia metro area ranked number one for women-owned business growth between 2002-2017. Putting the greater Charlotte area at the forefront of women having success in business.  

From Sidiing repair to gutter installation Hannah Moon, owner of Ibarra Contractors is another business in an industry generally dominated by men but has thrived in the home improvement industry in the Charlotte market.  

Soraya M Mossi of Good Guys a Business Equipment and Copier Repair Center in High Point is another great example of a women-owned business.  Using both technician skills as well a problem-solving nature to bring solutions as well as “Goodness” to a male-dominated industry.  Good Guys Copier Systems is located in High Point NC.

Jennifer Jones Horton is the owner, speaker, writer, front of the house, you name it. But, best known in Charlotte for Sanctuary Bistro. If it doesn’t involve cooking she doing something to empower the new economy of North Carolina.

Another example is Buxton Hall Barbecue in Asheville, which is co-owned by Meherwan Irani and his wife, Molly. The couple’s strong business acumen, combined with Molly’s focus on creating a warm and welcoming environment, has helped the restaurant become a popular destination for locals and tourists alike.

The rise of women-owned businesses is not only beneficial to women entrepreneurs but also to the economy as a whole. According to the National Women’s Business Council, women-owned businesses contribute trillions of dollars to the U.S. economy and create millions of jobs.

As more women enter the world of entrepreneurship, it is important to recognize and support their contributions to the business world. With their unique skills and traits, women are poised to continue to make significant strides in the world of business and beyond.

First Business Journal brings Businesses Focused Articles to help you develop personally and your business or organization.  Explore our other stories and articles about businesses in North Carolina.