Business Opportunities for Women

A number of business opportunities exist for women today. Being an entrepreneur is an attractive choice for people who want to experience the joys, challenges, and flexibility of self-employment.

Women have many choices in business.

Many women who decide to work for themselves choose to go it alone. According to a study called "Women Entrepreneurs: Leading the Charge," released by the Canadian Imperial Bank of Commerce, 73 percent of self-employed women don't have employees.

The same study predicts that by the year 2010, more than one million women in Canada will be self-employed. The number of businesses owned by women is increasing by more than three percent per year in that country. This figure represents a 60 percent faster rate of growth than for new businesses owned by men.

Women over the age of 55 are starting businesses in greater numbers than ever before. The number of businesses owned by these 'seniorpreneurs' is growing at a very healthy four percent per year, which is double the rate for men in the same age group.

In the United States, the Human Capital and Women's Business Ownership study found that self-employed women tend to be better educated than those who work for an employer and that self-employed women are likely to be at either the lowest or the highest income levels. Self-employment rates were highest in the 40-49 and 50-59 age groups.

The reasons why women decide to go into business for themselves vary. Here are some good reasons why striking out on your own makes good sense for women:

• Flexibility

Often women find that working in a traditional 9 to 5 office environment doesn't give them the level of flexibility they would like. Not all employers are open to flexible working hours or a telecommuting arrangement. Many women are caught in the "sandwich generation," need flexibility because they are caring for children as well as aging parents.

• Freedom

When you own your own business, you have the freedom to make decisions about the type and amount of work you do. Working for someone else often means that your earnings are set according to a salary range established for that position. Putting in extra effort doesn't necessarily mean that you will see a reward in the form of greater earnings.

• Sense of Accomplishment

When anyone takes something from the idea stage and makes it a reality, there is a tremendous sense of accomplishment and pride that goes along with it. The entrepreneur can't help but have a heightened sense of self-esteem because they faced obstacles to get the business off the ground and were able to overcome them.

• Financial Necessity

People who have recently been laid off or are concerned about being laid off may consider starting a business to generate income so that they are not dependent on only one source of income. They may choose to operate a business on a part-time basis, even if they are able to find employment elsewhere.

Women own and operate many kinds of businesses, many of which are not related to work traditionally performed by them. Here are some examples:

• Home Based Businesses

Many women entrepreneurs start by working a business from their home. They may be offering a product or a service for sale. Popular choices for these types of business opportunities for women include virtual assistant, child care, and consulting services.

• Home Parties

Businesses that sell products through home parties are another choice that a number of women find appealing. They can work when it's convenient and still have time for their families. The company has a business plan for them to follow, including sales presentations and set pricing.

• Franchises

Franchise opportunities are available at various levels of investment. Buying one means that you are given a recognizable brand to promote, as well as support to get the business off the ground.

• Professional Occupations

Women are better educated than ever before and are using their knowledge and skills to establish themselves in the professions. Owning and operating their own medical, dental, or legal practice is another example of one of the many available business opportunities for women.

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