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Women’s entrepreneurship: The fuel driving economic recovery

Dell Technologies and Fast Company have launched a new partnership to honor and support women’s entrepreneurship.

Women’s entrepreneurship: The fuel driving economic recovery
[Photo: Dell Women’s Entrepreneurship Network]

As America takes its first steps to economic recovery, women entrepreneurs will be at the forefront. Women’s entrepreneurship has been outpacing the overall workforce over the past five years with that growth curve expected to continue.

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Between 2014 and 2019:

  • The number of women-owned businesses increased 21 percent to a total of nearly 13 million, while all businesses increased only 9 percent
  • Total employment by women-owned businesses rose 8 percent (to 9.4 million), while for all businesses the increase was 1.8 percent
  • Revenue rose 21 percent to $1.9 trillion, slightly higher than the rate for male-owned businesses
  • While the number of women-owned businesses grew 21 percent from 2014 to 2019, firms owned by women of color grew at double that rate (43 percent)
  • Private technology companies led by women are more capital-efficient, achieving 35 percent higher ROI, and, when venture-backed, 12 percent higher revenue than startups run by men, according to the Kauffman Foundation

But not all the news is positive.

While these businesses contribute greatly to the economy and society, their ultimate potential for impact can be limited due to the financial, cultural, and political barriers women often face as they scale their businesses.

  • Venture capital investment in all-female founding teams hit $3.3 billion in 2019, representing only 2.8 percent of capital invested across the entire U.S. startup ecosystem
  • Fewer than 10 percent of decision-makers at U.S. VC firms are women
  • Overall, men receive an average loan size of $43,916while women receive an average loan size of $38,942—almost $5,000 less

This is why Dell Technologies and Fast Company have come together to create a multi-level initiative designed to celebrate the journey and ingenuity of female entrepreneurship, while providing a community and resources for women founders through Dell Women’s Entrepreneurship Network (DWEN). This partnership will shine a light on some of DWEN’s most inspiring member companies and leaders.

Fast Company, led by dynamic Editor-in-Chief Stephanie Mehta, has been a huge supporter of women in business, entertainment and design. Recent cover stories have featured Marie Kondo and her empire, venture capitalist Arlan Hamilton, and Whitney Wolfe Herd, founder and CEO of Bumble.

For 25 years, Fast Company magazine has been the go-to publication for articles on innovation, design, and technology. Magazine franchises include “Most Innovative Companies,” “World Changing Ideas,” “Innovation by Design,” and “Most Creative People.”

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Similarly, for 35 years, Dell Technologies has been committed to transforming businesses, shaping the future of innovation, and developing technologies to drive human progress. DWEN was established by Dell Technologies in 2009 to empower female entrepreneurs to grow their business. DWEN helps like-minded women share best practices, build business opportunities through collaboration, explore international expansion, and access new resources and technologies that support business growth.

This Dell/Fast Company partnership will facilitate DWEN membership opportunities for Fast Company’s passionate and loyal readership.

DWEN membership provides access to investors, subject matter experts, and technology resources. It also offers access to tailored content and the opportunity to attend virtual and in-person events to network with many of the leading women entrepreneurs in the world.

For Jacqueline Arias, founder of Republica Organic, “being able to connect to female business leaders globally is a great source for inspiration and ideas. There is a rich diversity of perspectives and expertise, and for me that is an important aspect of DWEN.”

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FastCo Works is Fast Company's branded content studio. Advertisers commission us to consult on projects, as well as to create content and video on their behalf.

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