With big names such as IBM, General Motors, and Mondelez International increasingly appointing female CEOs, it seems that women are becoming more and more popular in management positions. We now have the most women leading Fortune 500 companies in its 63-year history. However, only 6.4% of these leaders, depending on the circumstances. And women’s inequality continues to dominate, with recent headline articles exposing the BBC’s gender pay gap and stories in which female entrepreneurs cite fictional male co-founders for credibility, a business issue.
The statistics:
Startups led by Women:
Women and entrepreneurs of colour are leading a boom in new business creation in the United States, according to a new poll. Nearly half of all startups in 2021 were founded by women, according to personal cloud software company Gusto. According to the company, this is a “dramatic increase” from 28% of women starting new businesses in 2019. The number one reason women are starting new businesses in 2021 was to seize the “pandemic opportunity.” More than three times as many Black or African American entrepreneurs have also started businesses. This share has tripled from 3% in 2019 to 9% in 2021. More than 5.4 million new companies were established in 2021, a new record. In a survey of new business owners in 2022, Gusto said what happened in the country “once in a century-long pandemic” is particularly impressive.
Working Hours:
Global data also suggest that women continue to be more affected by the pandemic than men. The World Economic Forum, in its new Global Gender Gap Report 2022, has found that women have lost more working hours than men since the peak of the pandemic. Caregiving and home-schooling mandates have helped exclude women from the workforce. Women are also more affected by unemployment in sectors such as hospitality and retail. As a result, female labour force participation has fallen, down from 60.1% in her 2021 edition of the Forum’s 146 Country Report to 51.7% this year.
As you can see from the stats above, the data has both positives and negatives. Gaps still remain in terms of representation and equality, but much progress has been made in these areas in recent years. Plus, there are many examples of successful women and entrepreneurs in the workplace making a difference. Women in business today are helping to break down harmful stereotypes and challenge the status quo. Today’s pioneers are shaping the future of the business to benefit everyone for years to come.
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