--- title: Celebrating National Women's Small Business Month description: Celebrating female entrepreneurs, their businesses, and their impact on the economy. image: https://smartbizbank.com/hubfs/Imported_Blog_Media/women-biz-month-2-3-1-2.jpg --- - [Share](https://smartbizbank.com/blog/womens-small-business-month#) - - - - [mailto:?subject=Check%20out%20https://smartbizbank.com/blog/womens-small-business-month](mailto:?subject=Check%20out%20https://smartbizbank.com/blog/womens-small-business-month) # Celebrating National Women's Small Business Month September 23, 2024 By [Suzanne Robertson ](https://smartbizbank.com/blog/author/suzanne-robertson) October is National Women's Small Business Month, which is a time to recognize and celebrate the creative female entrepreneurs who have started a small business despite the obstacles. To truly understand how far we’ve come, we should take a look back at the history of women in business. In 1972, women only owned 4.6% of all businesses in the United States, and they didn’t have the same banking opportunities as men did. [![See if you pre-qualify](https://no-cache.hubspot.com/cta/default/21458256/3d216d78-601b-4bc6-b9d5-3df52894e921.png)](https://cta-redirect.hubspot.com/cta/redirect/21458256/3d216d78-601b-4bc6-b9d5-3df52894e921) Thankfully, the [Equal Credit Opportunity Act of 1974](https://www.justice.gov/crt/equal-credit-opportunity-act-3) allowed women to apply for personal and home loans without a male cosigner for the first time. It wasn't until 1988, almost 15 years later, that women could take out business loans without a male cosigner. As of 2023, there are almost [13 million woman-owned](https://www.fool.com/the-ascent/small-business/articles/women-in-small-business-statistics-in-the-us/) businesses in the United States, accounting for revenues of $1.8 Trillion. And, in 2021, according to the World Economic Forum, [49% of all businesses ](https://www.fool.com/the-ascent/small-business/articles/women-in-small-business-statistics-in-the-us/)started in the U.S. were launched by women. These are, undoubtedly, staggering achievements. ## Fast facts about women-owned businesses Numbers don’t lie – women-owned businesses in the U.S. have a significant impact on the overall economy. These statistics from [the SBA](https://advocacy.sba.gov/2023/03/21/facts-about-small-business-women-ownership-statistics/) summarize impressive facts: - Women-owned businesses employ over 10 million people - Annual sales from women-led companies total over $2.1 billion - Women-owned businesses generate over $388 million in payroll each year ## Women and business lending The SmartBiz*®* team is committed to fair funding.** Over 50% of loans facilitated by **[** SmartBiz**](https://www.smartbizloans.com/apply)** went to women, minority or veteran business owners. **These entrepreneurs strengthened their businesses by using [SBA loans](https://www.smartbizloans.com/sba-loans), [term loans](https://www.smartbizloans.com/bank-term-loans), or [custom financing](https://www.smartbizloans.com/custom-financing) to hire employees, for marketing, as working capital, to refinance debt, and more. Here’s a snapshot of the overall lending landscape for women. - Women are less likely to receive business credit than men (American Banker*®*, 2022) - Women are more likely to receive a smaller, shorter-term loan with significantly higher interest rates (American Banker, 2022) - The percentage of business loan applications from women-owned firms decreased by 2% in 2020, compared to 2019 (Forbes*®*, 2022) - In 2021, 33% of all loan applications came from women-owned businesses. (Biz2Credit*®*)     ## How to support businesses owned by women As the holiday season approaches, it’s a great time to show your support for women-owned businesses. Here are a few ways: - Shop at woman-owned small businesses in your community and online. You’ll be helping a female entrepreneur and supporting economic growth. You can find women-owned businesses by searching the Yelp*®* “women owned” tag, connecting with women-owned business associations, and searching on social media platforms. - Get vocal! Promote women-owned businesses on your own social media channels and let your friends and family know about your purchases. - [Blogger Rhonda Abrams](https://planningshop.com/blog/) shares how you can support women all year: “*Support politicians and companies that support women. Women need confidence, but they also need childcare, maternity leave, good pay, good health care, non-discrimination laws. Help women gain the skills and earn the successes by supporting and voting for those who support policies and programs that enable women to succeed*.” - Follow the hashtag [#NWSBM on Twitter](https://twitter.com/hashtag/nwsmb?src=hashtag_click)*®* and Instagram*®* to discover who is sharing valuable information about this month and how you can contribute. ## Women-owned business success stories Below are business success stories that highlight a few of the smart, creative, and hard-working women who were able to secure funding through SmartBiz: ![off-road-vixens-Feb-13-2023-10-28-36-3899-PM-1-2](https://smartbizbank.com/hs-fs/hubfs/off-road-vixens-Feb-13-2023-10-28-36-3899-PM-1-2.webp?width=794&height=552&name=off-road-vixens-Feb-13-2023-10-28-36-3899-PM-1-2.webp) ### [**Off-Road Vixens**](https://smartbizbank.com/blog/off-road-vixens-business-story)**®** We interviewed one of the founders of Off-Road Vixens**®** co-owned by Shari Bisquera and Carey Kiehn. Off-Road Vixens**®** offers infant, youth, and adult clothing, appealing to all generations of females. The featured clothing changes with current styles and stays in line with the founders’ passions to provide the best possible products. They launched with the slogan “Girls Get Dirty Too!” Carey says, “It resonates with people. Our brand represents both females participating in racing as well as the weekend warriors.” The pair has now been in business 10 years. ![done-and-done-home-Feb-13-2023-10-28-37-2229-PM-1-2](https://smartbizbank.com/hs-fs/hubfs/done-and-done-home-Feb-13-2023-10-28-37-2229-PM-1-2.webp?width=794&height=552&name=done-and-done-home-Feb-13-2023-10-28-37-2229-PM-1-2.webp) ### [Done & Done, Home LLC](https://smartbizbank.com/blog/customer-success-story-done-done-home-llc)**®** You know those people that are not only completely organized but they enjoy the organization process? Mother/daughter team Katharine Pawlowski and Ann Lightfoot have taken their talent and love for organization and turned it into a successful small business in New York. ![enyermy-solutions-Feb-13-2023-10-28-35-5863-PM-1-2](https://smartbizbank.com/hs-fs/hubfs/enyermy-solutions-Feb-13-2023-10-28-35-5863-PM-1-2.webp?width=794&height=552&name=enyermy-solutions-Feb-13-2023-10-28-35-5863-PM-1-2.webp) ### [Enyermy Hair Solution, LLC®](https://smartbizbank.com/blog/business-story-enyermy-hair-solution-llc) SmartBiz worked with Enyermy Dominguez, a successful beauty entrepreneur, who recently launched an upscale line of hair care solutions. Her products quickly became popular, and she needed additional capital to keep up with demand. Learn how Dominguez is expanding her business with proceeds from a term loan funded by a bank in the SmartBiz network. ## Resources for women business owners The SmartBiz Blog has a variety of resources for female business owners, whether they’ve been in business several years or are just starting out. [SBA Loans for Women-Owned Businesses](https://smartbizbank.com/blog/small-business-loans-for-women-get-sba-funding-smartbiz-loans) has information regarding popular loan programs to help fund all types of ventures. SBA loans generally have low rates and long terms and are often a good option to grow your business. Another resource to help grow a business is to receive a women-owned business designation used by American government agencies and industry associations to set aside programs to encourage and empower female business owners. Learn more here: [Women-Owned Business Certification](https://smartbizbank.com/blog/women-owned-business-certification-learn-about-how-to-get-yours). Keep an eye on the calendar for more opportunities to learn about the accomplishments of women and celebrate their success. March 8 is [International Women’s Day](https://www.internationalwomensday.com/). [Women’s History Month](https://womenshistorymonth.gov/) is celebrated the entire month of March, and [Women’s Equality Day](https://en.wikipedia.org/wiki/Women's_Equality_Day) is held on August 26, the day the 19th Amendment was ratified.   ![Q3 Promo E1](https://smartbizbank.com/hubfs/Q3%20Promo%20Email%20Images/Q3%20Promo%20E1.png) ### Access Funds Quickly Apply for a Bank Term Loan from a bank in our trusted network [![See if you pre-qualify](https://no-cache.hubspot.com/cta/default/21458256/08df270b-4561-4437-a5aa-11d47ef08efb.png)](https://cta-redirect.hubspot.com/cta/redirect/21458256/08df270b-4561-4437-a5aa-11d47ef08efb) - [Follow SmartBiz](https://smartbizbank.com/blog/womens-small-business-month#) - - - - - ### Access to the right loan for right now We’re connecting small businesses with SBA, bank term loans, lines of credit, and flexible financing options. [![See if you pre-qualify](https://no-cache.hubspot.com/cta/default/21458256/08df270b-4561-4437-a5aa-11d47ef08efb.png)](https://cta-redirect.hubspot.com/cta/redirect/21458256/08df270b-4561-4437-a5aa-11d47ef08efb) ##### Topic - [Business Loans](https://smartbizloans.com/blog/tag/business-loans) - [Business Stories](https://smartbizloans.com/blog/tag/business-stories) - [Marketing](https://smartbizloans.com/blog/tag/marketing) - [Money Management](https://smartbizloans.com/blog/tag/money-management) - [Operations](https://smartbizloans.com/blog/tag/operations) ## Related Posts [ See all blog posts ](https://smartbizbank.com/blog) [Money Management July 01, 2026 ## How to Reforecast Your Budget Based on Summer Trends When you built your company’s budget for this year, you no doubt looked at past data. However, there were probably also some future projections that... Read More ](https://smartbizbank.com/blog/reforecast-your-budget-with-summer-trends-smartbiz-bank) [Money Management June 24, 2026 ## The Counterintuitive Truth About Summer Slowdowns For many small business owners, summer is an uncomfortable time of year. Many consumers travel or spend more time at home, which typically leads to them making fewer... Read More ](https://smartbizbank.com/blog/do-less-this-summer-to-grow-your-business-smartbiz-bank) [Money Management June 22, 2026 ## Small Business Revenue: Determine Where You Stand As a business owner, regularly reviewing your annual revenue gives you a clear picture of your company’s current health and helps you evolve your business strategically so... Read More ](https://smartbizbank.com/blog/small-business-revenue-determine-where-you-stand) ### Smart growth is smart business ## Access to the right loan for right now See if you pre-qualify, without impacting your credit score. 1 [ Apply Now ](https://smartbizbank.com/apply) 1. We conduct a soft credit pull that will not affect your credit score. However, in processing your loan application, SmartBiz Bank and the lenders with whom we work will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may impact your credit score. The SmartBiz® Small Business Blog and other related communications from SmartBiz BankSM are intended to provide general information on relevant topics for managing small businesses. Be aware that this is not a comprehensive analysis of the subject matter covered and is not intended to provide specific recommendations to you or your business with respect to the matters addressed. Please consult legal and financial professionals for further information. ```json { "@context" : "https://schema.org", "@type" : "Blog", "blogPost" : [ { "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "SmartBiz Bank Editorial Team" }, "dateModified" : "2024-01-15", "datePublished" : "2024-01-15", "description" : "Learn how SBA loans can provide the capital and flexibility small businesses need to expand operations, hire staff, and invest in growth.", "headline" : "How SBA Loans Can Help Your Small Business Grow", "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://smartbizbank.com/wp-content/themes/smartbiz/assets/images/logo.svg" }, "name" : "SmartBiz Bank" }, "url" : "https://smartbizbank.com/blog/sba-loans-help-small-business" }, { "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "SmartBiz Bank Editorial Team" }, "dateModified" : "2024-02-05", "datePublished" : "2024-02-05", "description" : "Tips and strategies for small business owners to strengthen their SBA loan applications and increase approval chances.", "headline" : "5 Tips for Improving Your SBA Loan Approval Chances", "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://smartbizbank.com/wp-content/themes/smartbiz/assets/images/logo.svg" }, "name" : "SmartBiz Bank" }, "url" : "https://smartbizbank.com/blog/sba-loan-approval-tips" } ], "description" : "The SmartBiz Bank Blog provides insights, tips, and guidance for small business owners on SBA loans, business financing, and financial strategies to grow their companies.", "inLanguage" : "en", "mainEntityOfPage" : { "@type" : "WebPage", "url" : "https://smartbizbank.com/blog" }, "name" : "SmartBiz Bank Blog", "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://smartbizbank.com/wp-content/themes/smartbiz/assets/images/logo.svg" }, "name" : "SmartBiz Bank", "url" : "https://smartbizbank.com" }, "url" : "https://smartbizbank.com/blog" } ```