Empowering Women in Business: Record-Breaking Entrepreneurship Surge in 2023
Bernadette Corbeil, a trailblazer in her field, was never the quintessential shopping mall girl. Instead, she spent her formative years honing her skills as the lone girl in shop class. Her affinity for hands-on work led her to learn welding at an impressive age of 10, setting the foundation for a nearly decade-long career in construction (News Finder related text removed for focus and ).
Today, Corbeil is the proud founder of Artemis Construction Group, a Wildwood, Missouri-based roofing and construction firm. Her transition from employee to entrepreneur in 2023 marks a significant milestone for her.
A New Era of Women Entrepreneurship
In 2023, women entrepreneurship experienced an unprecedented surge. Data indicates that women were instrumental in powering the economy with their spending and forming new businesses at rates that surpassed market growth, particularly in traditionally male-dominated industries like construction and manufacturing.
Tara Lewis, a trend expert for business review site Yelp, noted that flexibility, autonomy, and control over career options have become increasingly appealing to women in the post-pandemic world.
Yelp’s research revealed a substantial increase of more than 58,000 new women-led businesses in 2023 compared to the previous year. Furthermore, payroll and benefits firm Gusto reported that 49% of new business owners were women, up from 29% in 2019.
The Desire for Flexibility and Control
According to Abby Vandenberg, a Gusto spokeswoman, 70% of women started their businesses out of a need for flexibility. The shift towards remote work and the newfound freedom to balance professional and personal lives has been a significant draw for many women looking to take control of their careers.
The Pandemic as a Catalyst
While the trend of increasing female entrepreneurship had been building for some time, it experienced exponential growth following the Covid-19 pandemic. With disproportionate job losses among women during this period, many seized opportunities to create their own businesses and redefine their futures.
From 2019 to 2023, the number of women-owned businesses grew at nearly double the rate of men-owned companies. According to research conducted by Wells Fargo in partnership with Ventureneer, CoreWoman, and Women Impacting Public Policy, the number of women-owned firms increased to 4.5 times between 2022 and 2023.
Marie Saint-Cyr: Embracing the Change and Starting Multiple Businesses
New York-based visual artist Marie Saint-Cyr is one of the many women who seized opportunities during the pandemic and started multiple businesses. Prior to the onset of Covid-19, she worked in a range of roles including freelance muralist and painter, educator, and art project coordinator.
The pandemic served as a catalyst for Saint-Cyr to reflect on her professional aspirations and pivot towards entrepreneurship. In 2021, she transformed her Saint-Cyr Art Studio into a full-service mural agency, managing projects for public entities like New York City Public Schools. Her firm’s revenue grew from $50,000 in 2020 to nearly $1 million in 2022.
Saint-Cyr’s success didn’t stop there; she also founded an after-school art program business and a coaching and consulting firm to help individuals conduct business with public entities like the NYC school system.
Breaking Barriers in Skilled Trades: Women in Construction
The construction industry, where women comprise about 10% of the workforce and have majority ownership of approximately 13% of firms, presents a significant opportunity for growth. With billions of dollars allocated for infrastructure projects and aging workforces driving worker shortages, skilled trades sectors like construction are ripe with opportunity (BLS and NAWIC data used).
Women such as Allie Perez in San Antonio are making strides to bridge the gap and bring more women into these industries. By serving as chief marketing officer and COO for George Plumbing Company, Perez has been a champion for change and has founded Texas Women in Trades to help women connect with industry leaders, build relationships with union shops, and provide resources for career advancement.
The Impact of the Pandemic on Women in Trades
Despite the challenges presented by the pandemic, Perez has seen a noticeable increase in interest from women seeking opportunities in the skilled trades. She attributes this trend to greater awareness, the availability of training programs, the appeal of alternative careers outside of high-debt student loans, and the societal shift towards gender inclusivity.
The Future of Women Entrepreneurship: Opportunities Abound
Bernadette Corbeil’s success story is just one example among the countless women who have taken advantage of the opportunities presented by the pandemic and embraced entrepreneurship. With record-breaking business growth, community impact, and the support of both public and private sectors, women are making their mark in industries that were once considered male-dominated.
As the landscape for women entrepreneurs continues to evolve, there is no doubt that the future holds exciting possibilities. From flexible work arrangements and autonomy to groundbreaking advancements in industries like construction, women are poised to continue shaping the business world and defying expectations.
