Most Women Business Owners Make Less Than $50K A Year — Here’s How We Can Change That

It’s a stark reality that despite the growing number of women entering the entrepreneurial space, most women business owners earn less than $50,000 a year. Melissa Houston’s recent Forbes article sheds light on this troubling statistic and highlights the barriers women face, such as lack of access to capital, undervaluing their services, and juggling family responsibilities.

As the founder of She’s in Business, I have seen firsthand how women can overcome these challenges and build thriving, profitable businesses. But to do this, we need a shift in the way women approach entrepreneurship and the support systems available to them. The good news is that change is possible — and it’s happening right now.

The Barriers to Success for Women Entrepreneurs

Houston’s article identifies some key reasons why so many women business owners struggle to break past the $50K income ceiling. Let’s explore these barriers in more detail:

1. Lack of Access to Capital: Women often face gender bias in the lending space, making it difficult to secure the funding necessary to grow their businesses. Without sufficient capital, it’s challenging to invest in marketing, hire teams, or scale effectively.
2. Undervaluing Services: Many women undercharge for their services due to a lack of confidence or fear of scaring off potential clients. This not only limits revenue but also devalues the expertise women bring to the table.
3. Balancing Business and Family Life: Women are often juggling multiple roles, managing both their businesses and families. This can limit the amount of time and energy they can devote to scaling their ventures.
4. Limited Networks and Mentorship: Women often have fewer opportunities to connect with mentors or enter high-value networks, which are critical to business growth and expansion.
5. Gender Bias in the Marketplace: Despite progress in gender equality, women still face biases in the marketplace. These biases manifest in being taken less seriously by potential clients or investors, which impacts their ability to grow their business.

Why We Need Change

The fact that most women business owners make less than $50K annually isn’t just an economic issue — it’s a societal one. When women are financially empowered, they invest back into their families, communities, and society at large. Closing the income gap isn’t just about improving individual lives; it’s about creating a more equitable and prosperous world for everyone.

Women bring incredible ideas, innovation, and leadership to the business world, but when they’re held back by income disparities and structural barriers, society misses out on their full potential. To unlock this potential, we must take tangible steps to dismantle these barriers.

How the She’s in Business Challenge Can Help

The 5-Day She’s in Business Challenge, starting on October 7th, is designed to help women break through these barriers and create profitable businesses before the end of 2024. During this free challenge, participants will learn how to:

• Build a Viral Offer: Discover how to craft an irresistible offer that attracts the right clients and stands out in today’s crowded marketplace.
• Attract Quality Leads: Learn proven strategies for attracting leads without burning out, using the power of digital marketing and personal branding.
• Launch with Impact: Implement effective business strategies to launch or scale your business in ways that will immediately increase profitability.

This challenge is about more than just learning the basics. It’s about empowering women to step into their full potential as entrepreneurs. We’ll be tackling head-on the issues that hold women back — from undervaluing their services to balancing work and family life.

Addressing the Barriers Together

If we want to change the fact that most women business owners earn less than $50K a year, we need to address the root causes. Here’s how we’re making this possible through the She’s in Business Challenge:

• Confidence in Pricing: One of the key areas we focus on is helping women understand the value they bring to the market and how to confidently charge what they’re worth. Pricing shouldn’t be about discounting to attract clients — it’s about owning your expertise and positioning yourself as an authority.
• Business Systems for Growth: We teach women how to automate and scale their businesses using modern tools, so they can focus on high-impact activities. From automating marketing processes to learning how to delegate, we show you how to make your business work for you.
• Mentorship and Community Support: Our challenge provides participants access to a community of like-minded women who are all working toward the same goal — building profitable businesses. We also connect participants with mentors who’ve successfully navigated these challenges.

A Call to Action

The current income gap among women entrepreneurs is unacceptable, but it doesn’t have to be this way. Women deserve to not only survive but thrive in business. If you’re a woman ready to break through the income ceiling and create a thriving business, I invite you to join us for the 5-Day She’s in Business Challenge starting October 7th.

This is your opportunity to finally gain the clarity, confidence, and community you need to make 2024 your breakthrough year. Together, we can change the narrative and ensure that more women reach — and exceed — that $50K milestone.

Sign up today and take the first step toward building the business — and life — you deserve.