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Forbes
23-04-2025
- Business
- Forbes
The State Of Women Entrepreneurs: Reports Show Optimism And Growth
By Rieva Lesonsky Recently we celebrated Women's History Month, and women business owners continue to make history. The inaugural 2024 Impact of Women-Owned Businesses from Wells Fargo shows that women own 39.1% (about 14 million) of all U.S. businesses, a 13.6% increase from 2019 to 2023. A new report Women and Wealth: Growing the pie, creating opportunities from the Bank of America Institute shows women are positioned to be 'key drivers of economic growth' due to 'increased wage gains, coupled with the 'Great Wealth Transfer.'' The report stresses these gains are not at the expense of men but likely driven by the fact that the gap between male and female labor force participation rate (LFPR) and the employment ratio is narrowing in the United States. According to the report, 'This suggests the emergence of a job market that is providing more employment opportunities for working women." According to the U.S. Bureau of Labor Statistics (BLS), women now make up nearly 47% of the total workforce. This means 'women's prosperity will help 'grow the pie' of total affluence, expanding opportunities across the board. And Bank of America's internal data shows, 'the difference in median annual income growth between men and women has fallen to around 4% at the end of 2024 from 6.5% in 2022. The Women and Wealth report shows there's still a significant gender/wage gap in America. But the younger the women, the smaller the gap. Women aged 16 to 24 earned 90.6% as much as men in the same age group. However, as women reach their peak earning potential (ages 35 to 54), the gap widens to about 81%. And the gap becomes a gorge when women aged 55 to 64 earn 76% of what men in that age group make. The Women to Wealth report says, 'Wealth is tilting female even without pay parity.' This 'Great Wealth Transfer' refers to 'an estimated $124 trillion that's expected to be transferred to women through 2048' via inheritance. This means American women will 'soon control more money than ever before.' Combine this with the fact that women today are more educated, enter the workforce at higher levels, have greater career aspirations with the expectations of higher pay, have fewer children, and stay in the workforce longer. The result is that 'women are in control of their finances earlier in their lives.' Plus, they're more financially literate and know how to grow their wealth from an earlier stage in their lives. Not all women in America face the same level of challenges. Research by Printful, reveals that some states offer women better access to funding, mentorship, and business-friendly policies. For details, check out Printful's post. The top 10 states for women business owners: Women small business owners are reaping the rewards as well. The 2024 Women and Minority Business Owner Spotlight, released by Bank of America last fall, shows that 57% of women business owners said they planned to expand their businesses in 2025 by: However, raising money has been an issue for these business owners. While 60% said they think women entrepreneurs currently have equal access to capital as men entrepreneurs, 22% believe they'll gain equal access sometime in the future, and 18% don't think women will ever get it. In addition, 25% of the women entrepreneurs say they've already experienced 'challenges' accessing capital for their companies. The financial struggle was underscored in the 2024 State of Women's Small Business Report from Block Advisors, which revealed that 42% of the women small business owners surveyed who had applied for a bank loan had never been approved. And 15% were never told why they were rejected. This resulted in 89% of the women self-funding using personal savings and credit cards. Like the women surveyed by Bank of America, these women were 'somewhat or very positive' (94%) about their businesses this year, and 75% felt 'very positive' about the financial resilience of their companies. Perhaps the most difficult challenge for the women surveyed in the Women and Minority Business Owner Spotlight was that most (63%) said they needed to work harder to achieve the same level of success as men business owners. But 45% are motivated by the desire to build generational wealth for their families. More from AllBusiness: While the small business outlook for women in the United States is mostly positive, the environment is not as bright for women entrepreneurs around the globe. A recent report from the Cherie Blair Foundation for Women, in partnership with Intuit and the World Bank's 'Women, Business and the Law' project, Empowered or Undermined? Women Entrepreneurs and the Digital Economy studied women running businesses in nearly 100 low- and middle-income countries. Women own businesses in many of these nations, including 47% of companies in Latin America and the Caribbean, 44% in East Asia and the Pacific, and 30% in Sub-Saharan Africa. However, the report states, 'The full economic potential of women's entrepreneurial spirit remains unrealized. Despite modest improvements in recent years, the World Economic Forum estimates it would take the world's women 152 years to reach economic parity.' The report is quite detailed, and I encourage you to read it. Here are some key findings. Of the global women entrepreneurs surveyed: For global women entrepreneurs, according to the report from the Cherie Blair Foundation, more access to digital tools is essential, and 'countries prioritizing digital and financial inclusion today will benefit from more equitable economies tomorrow.' The report concludes, 'The challenge now is not just expanding access to technology, but ensuring that women have the skills, security, and support to use it to its fullest potential so that they can thrive as business owners and achieve their economic ambitions.' American women entrepreneurs need much of the same. We all need to realize that when women prosper, everyone prospers. According to Bank of America Global Research, if women had the same labor force participation rate as men, it would increase U.S. Gross Domestic Product (GDP) by 3.9% or $1.1 trillion. Closing the gender wage gap would add another $866 billion to the GDP. And closing both the gender employment and wage gaps could boost the GDP by about 7.5% or $2.1 trillion. If this shift toward equality were to extend to the EU and the UK, the global economy could expand by $3.5 trillion.
Yahoo
03-03-2025
- Business
- Yahoo
Wix Launches Native, Print-on-Demand Experience Powered by Printful
Wix launches a native, print-on-demand experience powered by Printful Customize products without leaving Wix Products added to store catalogue Create branded merchandize Merchants, self-creators, and agencies using Wix can tap into Printful's fulfillment services to uniquely expand their brand with high-quality, custom products NEW YORK – – Ltd. (NASDAQ: WIX), the leading SaaS website builder platform globally1, today announced a native integration with Printful, one of the leading print-on-demand companies, to bring a native, out-of-the-box experience to Wix and Wix Studio users. With direct access to Printful's print-on-demand and dropshipping fulfillment services, Wix users can create their own high-quality, branded product collections without leaving Wix. Wix users have the opportunity to create their own merchandise that is typically inaccessible to small businesses on the market today. Established businesses can create a new revenue stream while new businesses can start from scratch to build their brand and be part of this market that is projected to reach USD 45.6 billion by 2031. The print-on-demand industry is expected to grow at a compound annual growth rate (CAGR) of 25.3%. Users have access to and control over critical touchpoints of the print-on-demand and dropshipping solution. They can customize their merchandise with their unique art, graphics, and brand logos. Additionally, a user can adjust or change the design on a product, all within the Wix platform. Offering a cost-effective and sustainable approach, this solution fulfills orders individually, enabling business owners to avoid upfront inventory costs. Printful strives to ensure that products are produced locally, through its network of fulfillment centers, allowing for faster distribution and lower shipping cost. The on-demand operation model helps to eliminate overproduction and remove the need for storage. Local product fulfillment also helps to minimize the carbon footprint, while product personalization fosters stronger customer loyalty. 'This integration gives our users a new opportunity to create high-quality products and merchandise customized to their brand, whether they are a yoga studio owner, a chef, or a dog trainer,' said Jill Sherman, Head of Suppliers Hub at Wix. 'Together, we're providing our users a unique and seamless solution that embraces creativity and brand identity while eliminating fulfillment hassles and overhead costs. This empowers users to focus on the growth of their business and maximize their brand footprint all from the Wix platform." 'Partnering with Wix is a natural fit for us, as we're both dedicated to supporting e-commerce business owners and brand builders who are crafting exceptional shopping experiences,' said Chris Victory, Head of Partnerships at Printful. 'We've always been committed to helping anyone, anywhere create, design and deliver high-quality, unique products that resonate with their audience. By integrating seamlessly with Wix, we're making it even easier for entrepreneurs to provide delightful experiences for their customers, directly within the platform where they already create and drive their brand experiences. We're excited to see the amazing designs and products that the Wix community of sellers will create next.' This offering is available in English, and there are plans for availability in additional languages in the near future. For more information about this partnership, please visit Ltd. Wix is the leading SaaS website builder platform1 to create, manage and grow a digital presence. Founded in 2006, Wix is a comprehensive platform providing users - self-creators, agencies, enterprises, and more - with industry-leading performance, security, AI capabilities and a reliable infrastructure. Offering a wide range of commerce and business solutions, advanced SEO and marketing tools, the platform enables users to take full ownership of their brand, their data and their relationships with their customers. With a focus on continuous innovation and delivery of new features and products, users can seamlessly build a powerful and high-end digital presence for themselves or their clients. For more about Wix, please visit our Press RoomMedia Relations Contact: PR@ 1 Based on number of active live sites as reported by competitors' figures, independent third-party data and internal data as of H1 Wix launches a native, print-on-demand experience powered by Printful Customize products without leaving Wix Products added to store catalogue Create branded merchandize
Yahoo
31-01-2025
- Business
- Yahoo
Top digital nomad countries for 2025 as popular destination confirms huge visa change
The digital nomad lifestyle has exploded in popularity since the pandemic, allowing remote workers who only need a laptop and an internet connection to earn an income while travelling. New Zealand is the latest country to relax its visa rules to lure digital nomads to the country. The New Zealand government announced this week it would now allow visitors to work remotely for a foreign employer or client. The change applies to all visitor visas, including tourists and people visiting family and loved ones. Visitor visas can be extended for up to nine months, but tax implications may apply for people who work remotely for more than 90 days. RELATED New Zealand to be work-from-home hotspot after visa change in popular Aussie tourist destination Under-pressure landlords offering up to $11,840 of free rent in major 'pendulum swing' Retirees face $9,000 tax hit due to overlooked superannuation move: 'Big missing piece' More than 50 countries are estimated to offer so-called 'digital nomad visas', or remote work visas. These allow people to live in the country for an extended period of time, usually a year or two, and work remotely. With the cost of living top of mind for many Aussies right now, you might be interested in working remotely in a country that's a bit easier on the wallet. UK company Printful has put together a list of the best cities for digital nomads based on factors like the cost of living, cost of accommodation and co-working spaces and internet the top five destinations were located in Southeast Asia, an area known for offering a lower cost of living, rich culture and friendly locals. Luckily, the countries aren't too far of a distance for Aussies to travel either. Printful IT project manager Martins Rudzitis said the digital nomad lifestyle could help spark creativity and inspiration by immersing you in 'new cultures, diverse landscapes, and unique experiences that shift your perspective'. Here are its top 5 best cities for digital nomads in 2025 and a rough idea of how much things could cost you. Thailand's capital Bangkok topped the list as the best spot for digital nomads, with workers able to soak up the city's vibrant culture, street food and explore tourist attractions like the Grand Palace and Wat Arun. Printful said the city stood out for its blend of affordability and connectivity. It found the average cost of living was about $1,412 per month (USD$876) for a single person, with co-working spaces available for about $324 per month (USD$201) and Airbnb options available for around $2,516 per month (USD$1,561). Phnom Penh, Cambodia's busy capital, came in second place and was one of the more affordable choices for digital nomads. Nicknamed the 'Pearl of Asia' for its historical architecture, the cost of living in the capital is about $1,240 a month (USD$770) for a single person, with inexpensive co-working spaces at $223 a month (USD$139) and Airbnb's about $2,130 a month (USD$1,323). Hanoi in Vietnam offers an "impressively low cost of living" for digital nomads, Printful said, with workers able to enjoy cheap, delicious eats, along with affordable co-working spaces and moderate internet speeds. The cost of living for a single is about $1,005 a month (USD$624), Printful found, while co-working space is an affordable $164 a month (USD$102) and Airbnb's will set you back about $1,998 a month (USD$1,241). The Philippines is expected to be one of the most in-demand destinations for digital nomads this year, along with Jamaica and Barbados, and offers a mix of adventure and work. Cost of living in the capital Manila is about $990 a month (USD$615), Printful found, with co-working spaces available for about $196 a month (USD$122) and Airbnb about $2,064 a month (USD$1,282). Jakarta, which is known as the cultural center of Indonesia, rounded out the top five. Cost of living in the capital is about $979 per month (USD$608), Printful found, co-working spaces are $291 a month (USD$181) and Airbnb's are about $1,670 (USD$1,037).
