Untapped Potential – Targeting Women-Owned Businesses| |
While most niches that we help accountants target are small, targeting women-owned businesses is large and rapidly growing. Typically, Build Your Firm helps accountants market their specialty accounting/tax services to segments that represent 1% to 5% of businesses. Whether the niche is cannabis or construction or dentists or restaurants, the target audience is either small or very competitive.
Targeting women-owned businesses is a huge opportunity. Today, women own 42% of all companies in the US and the rate of growth is 21% according to American Express.
The growth of minority owned women-owned businesses has been staggering. Today, 50% of all women-owned businesses are minority owned. Women-owned business ownership is high within the Latino/Hispanic and African-American/Black communities. 39% of all women owned businesses are owned by Hispanics and Black women.
While it is easy to rationalize women owned businesses in home healthcare, child day care, beauty salons, veterinary practices, accounting, food services and cleaning services, the growth of women owned business within construction is staggering. Other industries experiencing staggering growth of women owned businesses are educational services, real estate, technology, and professional (legal, consulting, financial).
And with our most recent covid pandemic, who can blame women who start their own business because:
- 58% want more control over their work schedule
- 37% were looking to improve their financial opportunities
- 24% wanted to start a business they could pass onto their families
Here is an example of another women-owned business hanging out their shingle and leaving corporate American to become successful on her own.
Belita Blasingame is a CPA licensed to practice in Georgia and Illinois. She also has an MBA with a concentration in Entrepreneurship and Real Estate. Her corporate experience is in the financial and technology industries for nearly twenty years and with a big birthday rapidly approaching, it’s time to hang out her own shingle and help women-owned businesses in technology, real estate and entertainment industries.
To ramp up her practice and give up the security of corporate employment, Belita has partnered with Build Your Firm and will have offices in Midtown Atlanta and Sandy Springs. In addition to her women-owned website, Belita will also have websites focused on: