Are women entrepreneurs having more success than before? Yes, they are. Why have success rates increased for women entrepreneurs in recent years? Several reasons including specialized financing and business loans for women, gender equality trends, better education and promotional advancements for women, documented experiences of experienced women entrepreneurs, etc.
Is the success rate the same for women in all industries? No, it is not. In the past few decades, women entrepreneurs have found more success in some industries than others. The earlier successes of female icons in these industries have paved the way for younger, contemporary entrepreneurs to flourish.
So, if you are a female entrepreneur, you’ll likely find more women mentors, comparative case studies, and other advantages in these industries. You are also likely to receive more business loans for women if you start a business in any of these sectors. Companies like Camino Financial offer business loans for women starting businesses in these industries.
Without further ado, here are the top industries where women entrepreneurs succeed the most.
Healthcare
Over 60% of women working in the healthcare sector worldwide are women, which has inspired many of them to start businesses in this industry. Women entrepreneurs are setting up clinics, consultantships, medical laboratories, pharmacies, sperm and egg banks, drug testing centers, scanning centers, medical waste centers, flying hospitals, mobile hospitals, research centers, dietician practices, online fitness centers, massage therapies, weight loss centers, and more.
If you are a registered healthcare practitioner with years of experience in your field, you can obtain business loans for women and start your own healthcare business. There are many different types of medical practice loans available, so be sure to choose one that best fits your needs.
Recruitment
A lot of women work in the human resources sector. Statistics show that over 70% of human resource managers are women. Experts attribute this to the fact that women have a higher emotional quotient than men. This means that they are more compassionate, show more empathy to employees, have better interpersonal skills, can negotiate employee pay better, can manage conflicts, and can carry out HR tasks better.
Women entrepreneurs have taken advantage of this to open recruitment agencies, outsourcing agencies, staff training firms, and more.
Cosmetic and skincare
The cosmetic, makeup and skincare product is prominently dominated by women. These women know what other females want. They have tested other cosmetic products, and they know what to do to improve their business offerings. They also know how to sell to other women. It’s no wonder that the cosmetic industry has produced billionaires like Rihanna, Kylie Jenner, and others. 11 out of 80 listed female billionaires on Forbes made their money from the cosmetic industry.
Fashion
A lot of female entrepreneurs own businesses in the fashion industry, with more joining them daily. These talented women come up with creative designs, comfortable fashionwear, affordable pieces, classy wear, revamp of old designs, and other unique selling points for their fashion brands.
Organic Products
As the world accelerates the use of organic products due to global warming, environmental degradation, and other harmful effects of chemical products, female entrepreneurs have seen a rapid rise in their fortunes. Many women are leading the race to produce organic food, skincare products, cleaning products, apparel, and other commodities. This has led to an increase in business funding for female entrepreneurs as the global push for organic products continues.
Conclusion
These are the industries where female entrepreneurs succeed the most. As a female entrepreneur, your likelihood of success increases if you are into any of these industries. This doesn’t mean that you must start a business in an industry you aren’t interested in or have no idea of. You must find out your interests and areas of competence, conduct your research, then source for funding from Camino Financial and other sources.
