Janice GassamSenior Contributor
Diversity & Inclusion
I help create strategies for more diversity, equity, and inclusion.
New research from Boston Consulting Group (BCG) found that if female entrepreneurs received as much support as male entrepreneurs, the global economy could experience up to a $5 trillion boost. It is well-documented that women-led businesses are underfunded, with data revealing that in 2017 only 2.2% of venture capital (VC) funding going to women-led companies. Women received only $1.9 billion in funding compared to the $83.1 billion that men received. In addition, research found that only 2% of female-led businesses earn $1 million or more in revenue. Research has also determined that women-led businesses experience more positive outcomes and even outperform their peers. Given all the potential benefits that accompany female-led businesses, it’s imperative to uncover impediments to their growth. What are the causes of these barriers and how can they be overcome so that women-led businesses experience more support and success, thus stimulating the global economy?