Yelp Survey Finds That Women Business Owners Remain Passionate, Innovative Despite Persistent Gender Bias and Pandemic Losses Ahead of the user-review hub's first-annual Women in Business Summit, it's released data from interviews with more than 1,500 female business owners.
By Kenny Herzog
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Throughout March, we've been highlighting the successes and struggles of women in business for Women's History Month and International Women's Day. And we haven't been alone. Yelp hosted its first-annual, two-day Women in Business Summit in March—and kicked it off by surveying female-owned businesses, identifying trends about their motivations and funding means. (Entrepreneur is a media partner for the event.)
Related: Charlotte Flair's 5 Lessons for Women Who Want to Change the Game
The survey looked at 1,523 business that self-identify as women-owned. The results, as you might expect, underscore some hopeful trends while also illuminating ongoing obstacles. The data reflect that, among those female owners who participated:
Pursuing a passion was their top motivator.
Nearly two-thirds rely on personal savings for initial funding.
More than two-thirds view social media as the most effective business-marketing technique.
More than 43% say businesses performed worse than pre-pandemic expectations, while 36.4% say it performed better.
And despite 35.8% having encountered negative perceptions about competency based on gender, they remain prevailingly optimistic about 2021.
Related: 2 in 5 Women Considered Leaving Their Jobs During the Pandemic
The Summit's keynote speaker will be fashion designer Rebecca Minkoff. Additional presenters include Dr. Erinn Tucker, co-founder of DMV Black Restaurant Week, and Opportunity Fund CEO Luz Urrutia.
