Women owned business operations are on the rise. The number of women owned businesses has increased by 60% since 1997 and now accounts for more than 8 million companies in the United States alone. Women have come a long way from being stay-at-home moms or simply workers to becoming entrepreneurs with their own small businesses in increasing numbers.
11 Advantages of partnering with a women owned business
If you’re looking to partner with a company that understands your needs, look no further – partnering with a women owned business will give you many advantages, both financial and in other myriad ways. Here are the top 11 benefits of such a partnership.
Tax incentives
The government has made it a top priority to support women entrepreneurs, and many state governments have adopted special programs aimed at helping women owned business thrive. In California, for example, small business owners who are at least 51% owned by a woman or group of women can apply for the Emerging Business Enterprise Program, which offers certain benefits, including tax incentives.
Partnership opportunities
Many companies work closely with their clients to allow them to voice their opinions and suggestions. If you’re looking for a consulting firm that will allow you the same privileges, partnering with a women owned business is an excellent choice. When partnering with a woman owned business, chances are they value your opinion more than if they were partnered with a male owned company.
Offers unique perspectives
If you’re looking to partner with a company that can provide unique insight into your product or services, partnering with a women owned business is a great idea. The benefits of a women owned business have a different point of view than men do because they think differently and process information differently. When partnered together, an opportunity for success will be presented – this partnership allows companies to share resources and make the most of their resources.
Provides personality
When you partner with a women owned business, chances are they will be able to provide personality and expertise to help raise brand awareness. In addition, these companies tend to offer the same qualities that women present, such as loyalty and confidentiality, which could greatly benefit your business down the road.
Promotes diversity
If you’re looking to promote diversity in the workplace, partnering with a woman owned business is a great idea. Women have different goals and purposes for starting their own companies, which means that having a diverse workforce will only work to your advantage. Partnering with a woman-owned company can provide you with more revenue and allow for a greater working environment overall.
New revenue opportunities
If you’re looking for new ways to expand your business and look towards other markets, partnering with a women owned business may help. Women tend to be more empathetic than men and can easily develop creative solutions to meet customer needs. Partnering with a woman-owned firm will allow the two companies to share ideas and resources which could assist in creating new revenue opportunities.
Efficient communication
When it comes to supporting one another, women know how important it is – this means that when partnering with a women owned business, the chances are high that they’ll be able to provide support and effective communication. When working together as we partner, we all have something valuable to offer each other that can help our team in the long run.
Promotes innovation and creativity
When you partner with a women owned business, they know how to take chances and promote innovation and creativity. Women are naturally creative and often have more influence on their surroundings. These skills can be applied to the workplace to ensure that both teams can make the most of each other’s strengths.
Shows your interest in diverse markets
If you’re interested in working with a business dedicated to bringing unique services and products to the public, partnering with a woman owned business will do just that. When you partner with us, we can work together to expand your company’s reach while also offering top-notch customer service.
Provides extra support
If you’re looking for extra support for growing your business, partnering with a women owned business will benefit both companies involved. These businesses tend to hold each other accountable, which ensures that deadlines are met, and projects get done without any issues along the way. Partnering together allows both companies to enjoy an enhanced sense of teamwork.
Conclusion
When you partner with a women owned business, the chances are high that they will be able to bring immense support and creativity to your company. These firms understand the unique challenges entrepreneurs may face when creating their business and will do everything possible (and within their power) to assist you along the way.
There are many advantages to partnering with a woman owned business. The overall benefits of this type of partnership include their ability to provide unbiased advice and guidance without being biased in their recommendations based on gender or sex. This is an important advantage since it can help your company become more independent from other companies with different agendas than you, which will ultimately lead to better decision-making processes.
Google has also been getting behind the promotion of women owned business, with Google My Business entries able to be filtered to select the attribute “women owned”. As an agency with a high quota of women, we think this gesture from Google is awesome and hope that many women entrepreneurs will use it to find other like businesses.
In order to carry out the award in Google My Business, only the following steps need to be followed:
- Go to your Google My Business Dashboard
- Click the “Info” tab in the menu
- Scroll down to the “Add Attributes” option
- Click on the pencil icon to edit
- Select the attribute “+ women owned” in the pop-up window
