Updated: May 2, 2020
"The best performing region for female entrepreneurship is Latin America and the Caribbean with an average female Total Entrepreneurial Activity (TEA) rate of 16.7% followed by North America at 12.8%." https://www.prnewswire.com/in/news-releases/global-entrepreneurship-monitor-women-entrepreneurship-buoyant-globally-but-targeted-support-needed-700307291.html
Simply put, this means that we are on the cusp of a huge uptick in economic activity-generated by wives, mothers, and sisters.
But this should be hardly surprising.
In our shared history, we have all grown up around female entrepreneurs-even when they weren't referred to as such.... the lady who took in washing and/or ironing, the lady who planted short crops and took her produce to market, the village seamstress who made all the school uniforms, sports gear, brownie kits, and wedding dresses... the ladies who made fruit cakes, jams and jellies and even those who sold pies, chow, and candy outside the village schools.
Whether by necessity or profession, these were our first "Fempreneurs"; the "original boss-babes."
The Global Entrepreneurship Report (2017/2018) goes further to state: "women entrepreneurs make a significant contribution toward the growth and well-being of their societies and offering them more targeted support will pay dividends for economic development in any country."- GEM Executive Director Mike Herrington.
"...the lady who took in washing and/or ironing, the lady who planted short crops and took her produce to market, the village seamstress who made all the school uniforms, sports gear, brownie kits, and wedding dresses...the ladies who made fruit cakes, jams and jellies and even those who sold pies, chow and candy outside the village schools....These were the original "Boss-Babes"
But we keep missing our opportunities to become mompreneurs and fempreneurs simply because we keep passing on our opportunities to be great.
How do we remain cognizant of our market and so make the leap into business?
Become aware of the changes in your environment- for example, "what's trending in your neck of the woods?" For one, there's a huge market for handmade items - ideal for those who make jewelry and accessories;
There's a huge push globally towards "Wellness"- This translates as soaps, body oils, ancillary skincare products, candles, and aromatherapy products;
Despite the rise of global supply and demand- there's still an opportunity to serve a diaspora market-allowing for economies of scale, especially for those who still want to serve a niche market.
Technology has now become both accessible and affordable-which allows almost anyone to build a customer base from anywhere - with a modest cash outlay you can literally become a mogul in your PJs.
Opportunities are all around you. Keep your eyes open and prepare yourself to take advantage of all avenues for economic activity-Training, workshops, podcasts, coaching sessions. Additionally, read as much as you can about your industry.
Who knows, the "next big thing" could be YOU!!!!
What are your thoughts? Please leave a comment below.