The Most Profitable Industries for Women Entrepreneurs
It’s no secret that there is an inherent gender bias when it comes to small business financing. In fact, women are approved for small business financing less often than men, and when women do receive loans, theirs are typically for smaller amounts, over shorter periods, and with higher interest rates.
Since 2015 women are owning more and more small businesses which perform better and achieve 3 times more return than businesses ran by a man. Even against all odds, women are some of the best business leaders in the world.
Entrepreneurship is for anyone and women are choosing to be the driving force of entrepreneurial progress. To help encourage more women to enter the world of entrepreneurship, here are the five most profitable industries that you should consider as a woman.
On-Demand Mobile Industries
Mobile businesses — not to be confused with mobile phone apps, although the two aren’t mutually exclusive — are services that travel to their customer’s home or place of work rather than the other way around. Increasingly, consumers are becoming used to receiving what they want in an instant. And why shouldn’t your businesses capitalize on that?
Laundry delivery services, in-home massages, grocery deliveries, getting your errands taken care of — there’s an on-demand mobile service for just about anything you can think of.
Childcare and Child-Related Businesses
Millennials are now the largest living generation, and the need for childcare services is increasing.
There are many opportunities within the realm of childcare and child-oriented businesses. Services for new mothers are very much in demand. Although these businesses require some education and certification costs, they are relatively inexpensive to keep set up.
If you have an interest in instructing children in a number of fields — yoga, gymnastics, music, foreign languages — now may be the perfect time to start that private education business.
Finally, youth is becoming synonymous with technology. Parents want to give their children opportunities to be engaged, entertained, and educated (as well as occupied). If you have an awesome idea for a child-centric learning app for smartphones and tablets, now is the time to start.
People want to learn more, but they want to do so from the comfort of their own homes and at their own pace. And even if you’re not an academic, there’s probably something you can teach. Offering an online course is a great way to help others while also earning money.
Sites such as skillshare, Udemy, and Udacity, to name a few, you can create videos and share your knowledge and expertise with the world.
YouTube is also a popular place for people to find free content and education, especially when it comes to fitness. Features also now include the option to create closed video live sessions that you can charge people for.
If you’re thinking of getting into the online education, try taking advantage of the community you’ve already built, if they see you as an expert.
Female entrepreneurs may still face an uphill battle, but it’s one worth fighting. The more women we have running small businesses or become head of large corporations, the easier it will be for future generations to do the same. Take advantage of these profitable small business opportunities, and everyone will benefit.