Why Support Women-Owned Businesses and Nonprofits
Women-owned businesses are becoming increasingly common. Here, we've outlined a few reasons why they're worth supporting.
Women Bring Unique Perspective and Leadership Skills
Whether in business, politics, or other sectors, lack of gender diversity in leadership positions means that knowledge and perspectives in those spaces are inherently limited. More gender equality in entrepreneurship and business spaces creates more diversity in leadership styles. Research has shown that women in leadership positions are thought to be better at communicating with others, show more consideration for others, and embody leadership styles that are less narcissistic and more participative than their male counterparts.
Moreover, female entrepreneurs are better equipped to anticipate and cater to the unique needs and preferences of female consumers, who comprise roughly half of the commercial market. The diversity in lived experience and perspective that women supply is essential for fueling innovation and change.
Women Are More Likely To Give Back
Research has shown that women are more likely to engage in philanthropic giving than men. And when women own businesses, they have the freedom and power to decide how to use their resources to contribute to social causes and improve their communities. According to an article by the Los Angeles Times, "wealthy women business owners are more likely than their male counterparts to give at least $10,000 annually to charity."
Women-Owned Businesses Are Good for the Economy
Denying women the opportunity to participate fully as entrepreneurs and small business owners is limiting profits, productivity, and employment opportunities for everyone.
Women-owned businesses tend to grow faster and see greater return on investment than those led by men. Female small business owners may also be more likely to take calculated risks, reinvest profits in their business, and be more adaptable and resilient in crises, all of which add up to a more sustainable business model. Overall, the Cherie Blair Foundation estimates that global GDP would increase by $5 trillion if the gender gap in entrepreneurship were eliminated.
On top of that, one of the most fundamental axioms of economics is that more successful businesses means more employment opportunities as those businesses grow. Higher employment rates, in turn, result in more expendable income for workers, which they can then reinvest in the economy.
Women Create Happy Work Environments
Employee satisfaction is a crucial ingredient to productivity (and by extension, profit and overall business success). Women-led small businesses tend to have happier, more positive work environments. According to one study, both male and female employees expressed greater satisfaction in female-led workplaces. In addition, female-led workplaces were also found to have less employee turnover.
Women in Leadership Encourage More Women To Become Entrepreneurs
It's hard to overstate the power of role models and representation. Thanks to harmful gender norms and social conditioning, many women continue to be held back by the belief that they are less capable or business-savvy than men. Seeing more successful female-led businesses signals to other women (particularly younger women) that they too are capable of being entrepreneurs if they want to be.
Support Women-Owned Businesses To Make a Difference In Your Community
As individuals, it can sometimes be hard to believe that we have the power to make a difference in systemic inequalities like the gender gap. However, as consumers, we often hold more power than we think we do. By making conscientious buying choices and supporting local, women-owned businesses and nonprofits, we can create a more equitable, diverse business environment for current and future female entrepreneurs.
North Shore Exchange is founded,owned, and operated by women. As a nonprofit luxury consignment shop we offer pre-owned and pre-loved designer furniture, clothing, vintage jewelry, and accessories. We also donate 100 percent of proceeds to local charities, allowing your purchases to support not only women entrepreneurs, but to go even further and directly aid local children and families in need.
Our expert merchandising team carefully inspects all products to ensure authenticity, so you can shop for discount luxury items with complete confidence. Explore high-quality, timeless handbags, jewelry, clothing, or home accessories and decorative objects!
You can also donate or consign your own luxury items at North Shore Exchange today. Get cash for the luxury goods in your home, and find new ones at great prices—all while giving back to the community. It’s the best of all worlds!