In a world where entrepreneurship is often seen as a solo journey, a powerful movement is quietly reshaping the landscape of business — women supporting women. This movement, driven by the collective strength of female entrepreneurs, professionals, and leaders, is not only transforming individual careers but is also redefining the very fabric of the business world.
The Rise of Women in Business
The statistics tell an inspiring story. Over the past few decades, the number of women-owned businesses has soared. According to the 2019 State of Women-Owned Businesses Report, women-owned businesses in the U.S. grew by 21% from 2014 to 2019 — compared to just 9% growth among all businesses. Today, women own 42% of all businesses in the United States, generating $1.9 trillion in revenue annually. Globally, women’s entrepreneurship is also on the rise, with nearly 163 million women worldwide starting or running businesses.
Despite these impressive numbers, challenges remain. Women entrepreneurs often face systemic barriers such as limited access to capital, underrepresentation in leadership roles, and a persistent gender pay gap. For instance, female founders receive only 2.3% of venture capital funding, according to a 2020 report by Crunchbase. Additionally, women in business often grapple with the dual pressures of managing their enterprises while balancing family responsibilities.
This is where the power of collaboration and support among women comes into play.
The Power of Women Supporting Women
When women come together to support each other, the impact is profound. Research consistently shows that women who receive support from other women are more likely to succeed in business, achieve leadership positions, and drive innovation within their industries. Here’s why:
- Mentorship and Knowledge Sharing: Mentorship is one of the most effective ways women can support each other in business. Women who mentor and sponsor other women create a cycle of success that benefits everyone involved.. Mentorship provides invaluable guidance, helps navigate challenges, and fosters a sense of belonging in industries where women may be underrepresented.
- Networking and Collaboration: Women-focused networks and organizations have become powerful platforms for collaboration. Groups like Ellevate Network, NAWBO (National Association of Women Business Owners), and The Wing provide spaces for women to connect, share resources, and build partnerships. According to a LinkedIn survey, 82% of women believe that networking is key to career success, and those who actively network are more likely to achieve their career goals. By collaborating, women can combine their strengths, share opportunities, and create synergies that lead to collective success.
- Advocacy and Representation: Women supporting women in business also means advocating for greater representation and equity. Initiatives like #MeToo and Time’s Up have shown the power of women standing together to challenge systemic inequalities and promote fair treatment in the workplace. Moreover, women who hold leadership positions can use their influence to advocate for policies that support work-life balance, equal pay, and inclusive workplace cultures, benefiting not just women but the entire workforce.
- Emotional Support and Empowerment: The journey of entrepreneurship and career advancement can be challenging, and emotional support plays a crucial role in overcoming obstacles. Women who support each other through encouragement, empathy, and solidarity create a nurturing environment where everyone can thrive. According to the American Psychological Association, women who have strong social support systems experience lower levels of stress and are more resilient in the face of challenges. Empowering each other emotionally helps women build confidence and take bold steps in their careers.
Women Lifting Women: The Path Forward
The future of business is bright when women support each other. As more women take on leadership roles, mentor the next generation, and create spaces for collaboration, the business world will continue to evolve in a way that benefits everyone.
Supporting women in business isn’t just a moral imperative — it’s also smart economics. McKinsey & Company reports that advancing women’s equality could add $12 trillion to global GDP by 2025. Companies with gender-diverse leadership teams are more likely to outperform their peers, innovate, and drive long-term success.
As we move forward, let’s continue to foster a culture of collaboration and support among women in business. Whether it’s through mentorship, networking, advocacy, or emotional support, every effort counts. Together, we can build a future where women not only succeed but also lead the way in shaping a more inclusive and prosperous world.
Collaborative success is within our reach — let’s make it happen.