Business leaders from a variety of industries have come together to tackle gender inequality, which damages female entrepreneurship. Through an open letter addressed to our next president, these influential people compel our political leadership to empower women to start the businesses that will be the engine of future economic growth.
The letter frames promoting female entrepreneurship as a win-win for everyone, because success among women could reap economic prosperity across the spectrum. The letter points out that while females start businesses at twice the rate that males do, they only receive a paltry seven percent of venture capital funding.
While females are statistically much more likely to take the entrepreneurial plunge, media coverage is more than 90 percent focused on male entrepreneurs. Changing this challenging landscape for females will require an overhaul of public policy and some meaningful cultural shifts away from habits that perpetuate gender bias.
This group of captains of industry believes that women need access to capital, and that requires incentives aimed to increase investment in female-owned businesses. They also believe that workplace policies should be more family friendly, acknowledging that women are still far more likely to be primary caregivers within households despite the dramatic rise of workforce participation over the past several decades.
Other suggestions include promoting female representation in the boardroom to help promote mentorship among women. Additionally, the letter requests that efforts be made toward fixing our broken patent system, which in all fairness, would help everyone.
A presidential plea
Through empowering and promoting women entrepreneurs, we can help create jobs and solve some of our biggest economic and social challenges. Women put 90 percent of their income into their communities and families, therefore we believe their success will not only benefit our economy, but will also have a positive impact on society. We hope that you will make fostering female entrepreneurship a domestic policy priority during your upcoming term and look forward to working with you and your administration to implement the above recommendations and fulfill one of the greatest economic opportunities of our time.
Equality in the workplace for women is an increasingly mainstream issue. After all, women make up half of the population, and it’s become hard to hide the obvious gaps between men and women in the workforce. This letter wants to make sure that the incoming administration is acutely aware of the importance of these issues, and how they affect modern American life.
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