Women in business today: Statistics, trends, and challenges

Women have been instrumental innovators in the global business landscape. From leading Fortune 500 companies to founding nearly 50% of original startups, women continue to prove themselves as an invaluable asset to corporate and entrepreneurial culture.¹

In the face of capital inequality, gender bias, and underrepresentation, this article highlights the success of women in business today and tells a story of resilience in the face of challenges and innovation for the next generation of female entrepreneurs.

A brief history of women in business

Although women were granted the legal right to work outside of the home and receive equal pay in the 19th century, women continued to fight well into the 20th century to be seen as equal employees due to societal norms and traditional gender roles. Here’s a look at a few key historical milestones that have shaped the history of women in business:

• 1800s–1900s: Women often ran family businesses and replaced male workers during wartime²
• 1950s–1970s: Although some people encouraged women to leave the workforce after the war, women continued working thanks to the rise of feminism and the civil rights movement²
• 1988: The Women’s Business Ownership Act was passed in the United States, giving women more autonomy in securing loans and owning businesses without a male co-signer³
• 2000s–Today: Today’s digital innovation and entrepreneurial culture set the stage for women to lead in unprecedented ways

The numbers that matter: Modern statistics about women in business

The 21st century marks a turning point in statistics for women in business. Current data shows a trend toward leadership roles for women, driven by hybrid work models, evolving social norms, and diversity policies:

• 57.5% of women participate in the workforce today, compared to just 37% in 19604
• Women currently own more than 12 million businesses and employ over 10.7 million workers in the United States⁵
• In 2024, there were 52 Fortune 500 companies run by women⁶
• The number of businesses owned by Black women grew 50% from 2014 to 2019—the highest growth rate of any female demographic⁷
• Although wage inequality still exists, women earned an average of 85% of what men earned in 2024, showing a steadily narrowing gender pay gap⁸

Driving forces behind women's business success

The growing success of women in business can be attributed to a combination of advocacy, policy reform, and a multifaceted support system. Over the past several decades, a few specific factors have contributed to empowering women in business and elevating their capacity for success:

• The Equal Pay Act of 1963 and Title VII of the Civil Rights Act of 1964 prohibit gender discrimination and require equal pay for equal work^9,10
• Feminist and social justice movements, such as the #MeToo movement in 2017, challenge systematic barriers and shed light on the need for equity¹¹
• Family-friendly policies such as paid parental leave, flexible working hours, and affordable childcare help women thrive in the workforce
• A growing network of women-in-business organizations, such as the National Association of Women Business Owners and African Women’s Entrepreneurship Program, provides women with the mentorship, advocacy, and community they need to succeed in the workplace

The rise of female entrepreneurship

No other professional landscape has been shaped quite as drastically by women as the field of entrepreneurship. Women are securing contracts and capital in growing numbers and founding companies at record rates, especially in sectors such as retail, wellness, and beauty. With an abundance of government associations and private programs, the percentage of women who go into business indicates a trend toward growth:

• In 2024, 49% of all new U.S. businesses were started by women, reaching a record high¹
• Women-owned businesses generate over $1.8 trillion in annual revenue and employ nearly 10 million people in the United States alone¹²
• Women’s entrepreneurial ventures were the driving force behind America’s economic rebound from COVID-19, creating about half of all new U.S. businesses compared to just 29% before the pandemic¹²

What is the biggest challenge facing women in business?

Despite the equitable policies, advocacy, and resources that have elevated women in business, many women continue to face deeply ingrained barriers that contribute to unequal treatment. Among these, the gender wage gap, underrepresentation in leadership, and insufficient access to funding limit opportunities for success.

The gender wage gap

While the gap is slowly decreasing, unequal pay persists globally, and women continue to earn less than men when performing the same roles. Male-dominated industries, such as finance, tech, and law, see the largest disparity, with some women earning only 63 cents on the dollar compared to men.¹³

Underrepresentation in leadership

Women, especially women of color, have historically been excluded from executive and board-level positions. The “glass ceiling effect” refers to women and other marginalized groups in business who face invisible barriers to leadership opportunities, despite having equal qualifications and achievements as their male peers.¹²

Insufficient access to funding

Gender bias continues to pervade venture capital firms, making it more difficult for female entrepreneurs to secure funding than their male counterparts. Government programs, such as the Small Business Administration (SBA) and the National Association of Women Business Owners (NAWBO), as well as nonprofits and grant organizations, help women secure capital and rise above the hurdles caused by gender inequality.

Inspiring the next generation of women business leaders

Women play a pivotal role in business today, propelling innovation, fostering inclusive leadership, and shaping the future of entrepreneurship. At the University of Kansas School of Business, we are proud to support the next generation of women business leaders—those who are breaking barriers, building enterprises, and redefining success across industries.

If you're inspired by the bold achievements of women past and present, and are ready to forge your own path as a business leader or entrepreneur, discover how the University of Kansas School of Business can help you achieve your goals. Our flexible online MBA program is designed to fit your life, empower your potential, and prepare you to lead with confidence in an evolving business landscape. Contact an admissions outreach advisor today to learn more.