WOMEN IN BUSINESS ARE GOOD FOR BUSINESS

(MENAFN- PR Newswire)

WASHINGTON, Feb. 6, 2025 /PRNewswire/ -- Women Business Collaborative (WBC), led by CEO Gwen Young, represents a coalition of the world's most influential companies and 87 organizations dedicated to advancing women in business. WBC advocates for data-driven results that prove the impact of women on business success.

Even though for decades there has been consensus among business leaders on the importance of increased representation by women, recent debates have questioned the role of women in the workforce. WBC is setting the record straight: Women in business are good for business.

WBC has identified key facts informed by data that reinforce the power of women in business:

• 14 million women-owned businesses in the U.S. represent 39.1% of all U.S. firms, employ 12.2 million people, and generate $2.7 trillion in revenue (Wells Fargo )
• Organizations with 30% or more women on executive teams are 27% more likely to outperform on profitability (McKinsey & Company )
• Companies with above-average diversity generate 19% more innovation revenue than their less diverse counterparts (Boston Consulting Group )
• The share of majority women-owned businesses rose from 15.6% to 20.3%-doubling participation in the market since 2020-and their revenues have helped drive economic growth (Small Business Administration )
• Minority Women Business Enterprises (MWBEs) generated $67 billion in revenue, created 221,000 U.S. jobs, and contributed $19.5 billion in wages (National Minority Supplier Development Council )

Women drive business forward. They make up 57% of the workforce yet hold only 8.72% of CEO positions and 28% of board seats. Women founders receive only 2% of venture capital funding. Women still only make 84 cents to the dollar, with women of color earning less than that.

"These aren't just gaps-they're failures to recognize an undeniable business advantage. The time to close these gaps isn't tomorrow. It's now," said Ms. Young. "WBC calls on leaders to recognize that supporting women in business isn't just the right thing to do-it's the smartest business decision."

ABOUT WOMEN BUSINESS COLLABORATIVE - Women Business Collaborative (WBC) is an unprecedented alliance of 85+ women's business organizations and hundreds of business leaders building a movement to achieve equal position, pay, and power for all women in business. Through collaboration, advocacy, action, and accountability, WBC mobilizes thousands of diverse professional women and men, business organizations, public and private companies to accelerate change.

SOURCE Women Business Collaborative

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