Women Entrepreneurs Pave the Way to Success: Advice for the Next Generation from Empower by GoDaddy Alumni

Rhea-AI Summary

GoDaddy's recent findings highlight a significant rise in women-led startups, reporting a 26% increase in female entrepreneurship since the pandemic. Women now represent 59.6% of new businesses, up from 47.3% pre-2020. Notably, Black women are the fastest-growing segment, accounting for 21.5% of new businesses. Despite these advancements, challenges such as marketing and digital presence remain prevalent. To address this, GoDaddy launched Empower by GoDaddy, which supports underserved entrepreneurs through training and resources. Program graduates shared insights emphasizing resilience, community support, and maintaining a digital presence as essential elements for success.

Positive

• 26% increase in women-led startups since the pandemic.
• 59.6% of new businesses founded by women since 2020.
• Black women represent 21.5% of new business creation, a 100% increase.
• GoDaddy's Empower program provides tailored support to entrepreneurs.

Negative

• Challenges in marketing and establishing an online presence continue to hinder new businesses.

NORTHAMPTON, MA / ACCESSWIRE / March 2, 2023 / GoDaddy

Empower by GoDaddy graduate Tanika Nelson, Owner & Head Designer, Nika's Cupcake Bar

Women entrepreneurs are breaking down barriers and succeeding in business, all while boosting their local economies and paving the way for others to do the same. According to GoDaddy's Venture Forward research initiative, there has been a 26% shift in the share of startups toward women compared to men. Women founded 59.6% of businesses started since the pandemic compared to 47.3% of businesses started before 2020.

Black women are the fastest growing segment of entrepreneurship. Venture Forward research reveals that the share of Black women starting businesses surged more than 100%, jumping from 10.7% of all businesses started before 2020 to 21.5% of all businesses founded since the pandemic.

While women's entrepreneurship is on the rise overall, those who were surveyed noted that marketing and getting online effectively were among the top challenges faced when starting a business. This is one of the reasons, in 2017, GoDaddy created Empower by GoDaddy, the company's global social impact program equipping entrepreneurs from underserved communities with training, tools and peer networks to accelerate their journeys. Together with nonprofit and community partners, Empower by GoDaddy focuses on supporting the unique needs of entrepreneurs with customized neighborhood-based programs, mentorship and digital skilling.

GoDaddy asked six program graduates - and powerhouse women entrepreneurs - to share their best advice for the next generation of entrepreneurs and some of the most rewarding parts of being an entrepreneur. Here's what they had to say:

1. Cherilyn Yazzie, Co-Founder & Owner, Coffee Pot Farms: "I've found that being a small business owner is a lot like farming. You put blood, sweat and tears into harvesting something you're proud of. However, the work never stops. I like to tell new business owners that bad things are teachable moments. Don't get too caught up in the negative because if you continue to put in the time, action and energy into your goals, there will always be something positive out of the bad times."
2. Chong Mi Land, Founder & Owner, Land of Moon: "It's so important for small business owners to have a digital presence - especially when shopping for products and services these days is mostly done online. As a costume designer, having a compelling visual component to complement my business is critical and something as simple as an eye-catching website can go a long way. To me, inclusive entrepreneurship is all about leveling the playing field for starting a business. It's supporting and empowering minority groups to build businesses and ultimately grow their communities. My business, Land of Moon, is named after my daughter, Arya Moon Land. My goal is to show her that turning your dreams into reality is possible, no matter the obstacles."
3. Consuelo Rosales, Founder & Owner, Conseulo's Cleaning Services: "My biggest piece of advice for the next generation of entrepreneurs is to never stop believing in yourself. It's during difficult moments that I feel like I'm propelled forward. I'm falling but I get back up stronger. Having my own business has helped me to believe in myself. It's helped me to have extra time to spend with my kids, and most importantly, I'm showing my kids that they too could choose to work for themselves someday."
4. Jaz Erenberg, Founder & Lead Artist, Jaz Erenberg Art LLC: "It is so important to find your community of colleagues and mentors but just because they found a way that works for them and what they do, doesn't mean it will translate to what you do, even in the same field. Be creative with your solutions and follow your intuition, after all it got you this far."
5. Kimberly Muhammad, Co-Founder & Executive Designer, Zuri's Circle: "Be willing to learn! We don't and won't know everything on our own and can learn a great deal from those that come before us. If we just push pride aside, we can thrive."
6. Tanika Nelson, Owner & Head Designer, Nika's Cupcake Bar: "The most rewarding part of being an entrepreneur is being able to take an idea from my brain, put it on paper and then do the work to make it come to life. Everyone tells you when you are a child that you can be whatever it is that you want to be, and you can do whatever you want to do. It's true and I am proof."

Year-round, GoDaddy is proud to support its more than 21 million customers globally as part of its mission to make opportunity more inclusive for all. Learn more about how GoDaddy empowers entrepreneurs everywhere: https://www.godaddy.com/godaddy-for-good/empower

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SOURCE: GoDaddy

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FAQ

What recent trends has GoDaddy reported regarding women entrepreneurs?

GoDaddy's research shows a 26% increase in women-led businesses since the pandemic, with women founding 59.6% of new businesses.

How has the share of Black women entrepreneurs changed according to GoDaddy's findings?

The share of Black women starting businesses surged from 10.7% to 21.5% since the pandemic, marking over a 100% increase.

What is the Empower by GoDaddy program?

Empower by GoDaddy is a global social impact initiative designed to support entrepreneurs from underserved communities with training, mentorship, and resources.

What challenges do women entrepreneurs face according to GoDaddy's research?

Women entrepreneurs report marketing and establishing an online presence as key challenges when starting their businesses.

What advice did Empower by GoDaddy alumni provide for new entrepreneurs?

Alumni emphasized resilience, the importance of community support, and maintaining a strong digital presence as crucial for success.