While starting a business is always challenging, women have traditionally faced additional barriers. However, the situation is gradually improving. It was reported that women owned 47% of new businesses in 2020, up from 29% in 2019. Four percent of new business owners in 2021 and four percent of new business owners in 2022 were women, showing that this trend has not changed. A funding gap still exists, despite this improvement. Venture capital investments in the US were only 2.1% given to companies started by women in 2022, according to Pitchbook.
Having confidence is very important for getting business deals. Chapman, Co-Founder of EcoBricks in Hong Kong, emphasized "It’s that ability to project confidence in yourself and confidence that you will execute the plan, because that’s what VCs are backing you for." Similarly, Cotes-James, founder of a menstrual health startup, was surprised to find personal opinions sometimes outweighed data in the pitching process. Victoria Zorin highlighted the importance of a well-rounded perspective, advising against relying solely on one mentor. It appears to be an optimistic time for women in business, as the entrepreneurial landscape continues to evolve, offering more opportunities and support for women.
