Feminism at Work

Women Reshaping Labour and Entrepreneurship

 

Cheers to the rise of women entrepreneurs! This short read dives into the profound impact feminism has had on the labour movement, celebrating the achievements of women (re)shaping industries and economies.

Redefining Modern Workforce Dynamics

Gone are the days when the working world was primarily male-dominated. Feminism's influence on the labour movement hasn’t only cracked the glass ceiling—it’s shattered it into countless pieces.

Women today are a formidable force in the workforce, holding positions across industries that were once deemed off-limits. Inc has reported that since 1978, some of the biggest increases in women representation include:

  • STEM (Science, Technology, Engineering, Math) roles:

    • Test Development Engineer (+243%)

    • Automotive Salesperson (+154%)

    • Technical Sales Professional (+133%)

    • Architect (+127%)

    • Physicist (+116%)

  • Public Safety (+118%)

  • Construction (+77%)

  • Consumer Goods (+71%)

  • Design (+70%)

  • Agriculture (+67%)

Women could give a $20 trillion boost to global economic growth by 2050 if we are educated at the same levels as men and hold the same number of jobs.

Though there’s still a lot of work to be done, momentum is on our side. With fewer women participating in the workforce, our economy operates without the full talents and abilities of 51% of the population. 

And without that, we would miss out on adding a $20 trillion boost to global economic growth by 2050.

The Power of Entrepreneurial Women

Entrepreneurship has become a powerful vehicle through which women are steering away from the status quo and driving change. We’re in awe witnessing the tenacity and innovation displayed by women entrepreneurs every 👏 single 👏 day.

The narrative has shifted from women being recipients of opportunities to instead actively creating opportunities for ourselves and others. The rise of women-led startups across tech, finance, healthcare, and other sectors is a testament to our determination to build the world we want to live in.

The number of women-owned businesses has climbed by nearly 3,000% since 1972, with the rate of women in entrepreneurship in Canada increasing by 30% over the past decade. The rise across sectors is motivated by a number of reasons, but a few include:

  • Flexibility being a top priority: Since women are still the primary caregivers, we want to accommodate work to our family needs.

  • Charging what we’re worth: This is a call out to the ever-relevant gender pay gap here—enough said.

  • Career advancement: Research shows that women are 15% less likely than men to get promoted, so we’re creating our own ladders to climb.

  • Turning passion into profit: Starting a business allows us to find meaning and leave behind a legacy we can be proud of.

A major event motivating much of the recent rise is what happened in 2020, AKA COVID-19. The pandemic led to a convergence of necessity and opportunity, fuelling the explosion of entrepreneurship among women. When the whole world was at a standstill, the involvement of women in the workforce reached its lowest point since 1988. Women-dominated industries took some of the hardest hits and harshest layoffs, and mothers left their jobs to care for children with schools and daycares shut down.

For many women, launching their own business was the best option to regain control of their careers and bring home needed income—truly a balancing act to maintain the flexibility the world demanded during lockdown.

The Superpower of Motherhood as a Working Woman

Speaking of work-life balance...

Motherhood (a full-time job itself!) nurtures a wellspring of strength and determination that fuels success in the entrepreneurial and venture worlds. The lessons learned in nurturing and guiding a child's growth translate beautifully into cultivating startups and investments—being an intuitive, bright north star in identifying promising opportunities and potential challenges.

Moreover, the experience of motherhood fosters an innate ability to innovate and adapt. Women have creative problem-solving in the bag to overcome unexpected parenting hurdles, which are soft strong skills applicable in navigating ever-evolving markets and industries.

More than 71% of female entrepreneurs are the primary caregiver in their family.

Based on these figures, more than 71% of women entrepreneurs are the primary caregiver. Further, 1 in 3 women-owned businesses is owned by a mom. How does she do it all? Supermom by day and entrepreneur by night, 39% of moms pull a second shift and dive back into business once bedtime duties are taken care of.

But perhaps the most remarkable part of this superpower? Its potential to inspire future generations. 

When young girls see their mothers balancing entrepreneurship and financial savviness with the joys of motherhood, they learn that they, too, can aspire to greatness across multiple dimensions.

A Call to Continued Action

While remarkable progress has been made, the work is far from over. Feminism's impact on the labour movement has initiated transformative change, but challenges persist. Gender pay gaps, representation disparities in leadership positions, and limited access to capital are issues that require collective attention and action.

By investing in innovative, women-led ideas and ventures, we contribute to dismantling barriers and creating a more equitable future. It takes a village to build a Financial Feminist™ future.

Become a member of The51 community, and let’s do this. Together.

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