Women Entrepreneurs on the Rise, Mentoring and Networking are Keys to Success

A growing number of women seek professional guidance from expert business mentors.

WASHINGTON, March 6, 2024 /PRNewswire/ -- Woman-owned businesses in the U.S. increased 21% over the past five years, fueling interest by female founders in small business training, networking and mentoring opportunities that support their success, according to SCORE, a resource partner of the U.S. Small Business Administration. This growth is reflected in the increasing number of women seeking guidance for their business ventures – 64% of SCORE clients are women, up from 60% two years prior.

"With 10,000 volunteer mentors and more than 200 chapters across the U.S., SCORE offers women small business owners many opportunities to connect with expert advice tailored to their unique needs – whether that is guidance from an experienced SCORE mentor, relevant networking opportunities or helpful resources," explains SCORE CEO Bridget Weston.

Networking opportunities
Local events for women small business owners are flourishing, providing opportunities for connection and resources. A recent SCORE Bucks County (Pa.) conference, "Women Building Businesses," drew more than 200 attendees and featured speakers specializing in everything from social media consulting to employment law. "Our goal for this conference was to provide practical, usable information to our women entrepreneurs and I think all of the speakers delivered what we asked for," said Linda Zangrilli, chapter chair of SCORE Bucks County. Conference sessions are available on demand.

SCORE Westchester (N.Y.) hosted a Women's Small Business Symposium in September, convening with more than 100 attendees to focus on the theme "Beating the Odds." Speakers included executives and business owners, loan officers, grant experts and business tool demonstrators, designed to help women entrepreneurs navigate small business challenges. Resources from the symposium are available online. 

Mentorship for women-owned businesses
For many women small business owners, a mentor can provide a critical advantage. In fact, entrepreneurs who work with a mentor are five times more likely to start a business – and report higher revenues and increased business growth. SCORE client Juanny Romero, owner of Mothership Coffee Roasters in Henderson, Nev., worked with an expert business mentor and recommends that other entrepreneurs do the same. "Embrace mentorship, and you'll find that the guidance you receive can be a game-changer for your entrepreneurial journey," said Romero.

Useful resources for women business owners
SCORE offers free and confidential business advice alongside resources and tools created especially for women entrepreneurs. SCORE mentors, many of them successful women small business owners themselves, are ready to help other entrepreneurs achieve their business goals. To learn more, visit SCORE's Resources for Women Entrepreneurs.

About SCORE:
Since its founding in 1964 as a resource partner for the U.S. Small Business Administration, SCORE has helped more than 11 million current and aspiring entrepreneurs start, grow or successfully exit a business through mentoring, resources and education. Visit SCORE at www.score.org.

Funded [in part] through a Cooperative Agreement with the U.S. Small Business Administration.

CONTACT:
SCORE
202-968-6428
[email protected]

Visit SCORE's media resources to be connected with expert small business interview sources and news updates.

SOURCE:
https://www.chamberofcommerce.org/small-business-statistics/#women-and-minorities-in-business-statistics

SOURCE SCORE