With the number of women-owned businesses in the United States now topping 10 million for the first time, levels of female entrepreneurship are rising faster than ever before. With explosive growth witnessed in recent years, actress-turned-attorney and television legal analyst Kelly Hyman takes a closer look at the much-welcomed rise of businesses owned by America’s millions of women entrepreneurs.
“Women-owned businesses are on the rise in the United States,” reveals Kelly Hyman, a graduate of UCLA and the University of Florida College of Law who enjoyed a successful career as an actress for 25 years in New York and California before embracing the legal profession.
Indeed, a 2017 study carried out by the U.S. Census Bureau revealed that the proportion of businesses owned by women had risen from around a quarter in 1997 to more than one-third just two decades later.
The most significant growth, according to the study, occurred between 2007 and 2017, with the number of women-owned businesses in the U.S. jumping from 7.8 million to a fraction under 10 million. The study, Kelly Hyman reveals, forms part of the Census Bureau’s latest five-year economic census. “In the two years since this growth has not only continued but has accelerated further still,” she adds.
According to Kelly Hyman, who’s set to co-chair the 2019 Alliance of Women Trial Lawyers Annual Conference next month, the most recent figures strongly suggest progress toward gender equality in entrepreneurship, both in the U.S. and overseas.
In the United States, burgeoning female-led businesses are strongly supported by initiatives such as the Office of Women’s Business Ownership, part of the U.S. Small Business Administration. “The Small Business Administration’s Office of Women’s Business Ownership helps female entrepreneurs to launch new businesses,” Hyman explains, “and to compete in often traditionally male-dominated marketplaces.”
The organization also helps women business owners to connect with funding opportunities and training, according to the award-winning attorney. “The Office of Women’s Business Ownership supports women entrepreneurs via programs including business training and mentorship, as well as with access to much-needed credit and capital,” Hyman goes on to reveal.
According to the Office of Women’s Business Ownership, women entrepreneurs and female-led businesses still face a significant number of unique obstacles and challenges in today’s modern business world. Businesses receiving assistance from their local Small Business Administration district office-based Women’s Business Center, however, routinely see significantly higher rates of success than those without the same or similar levels of support, Kelly Hyman points out.
“Accordingly,” she adds, wrapping up, “the Office of Women’s Business Ownership, powered by the U.S. Small Business Administration, is actively supporting a true leveling of the playing field for women entrepreneurs across the United States.”
Actress-turned-attorney Kelly Hyman is set to co-chair the 2019 Alliance of Women Trial Lawyers Annual Conference, kicking off on Saturday, September 7, and concluding on Monday, September 9. Marking her second consecutive year speaking at the highly prestigious meeting of women attorneys and legal professionals, Hyman will open with ‘Effective Communication Techniques To Make Yourself Heard’ on Monday, September 9 at 8:00 am from the event’s host venue, The Roosevelt New Orleans, in New Orleans, Louisiana.