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How Technology Influences the Growth of Women-Owned Small Businesses

The number of women-owned businesses is increasing every year. According to a recent statistic from American Express, women own nearly 38% of the small businesses in the US. Additionally, Scores reports that there was a 45% jump in women-owned firms between 2007 and 2016. 

Technology plays a crucial role in making businesses grow. A Harvard Business Review recently reported that access to technology allows global gender equality in terms of business ownership. Tablets, mobile phones, and most importantly, computers play an essential role in bridging the gap between business owners and customers. 

The advent of computers is allowing many women-run small-scale industries to thrive in recent times. Here’s how:

  • Running online businesses:

Developing a website is now easier than ever. Keeping it live 24 x 7, even more accessible. And this is allowing many small-scale industries to revive slowly. For example, the handicraft market is hugely untapped because rural women previously didn’t have access to computers, smartphones, and tablets. Now, a group of women can run a business with one woman handling orders, a few taking cares of production, and others looking after distribution. This system is becoming common in rural areas where it takes a long time for women to come to the city to sell their goods.

  • Receiving online payments:

Computers and the internet are changing the face of small-scale industries run by women. They don’t have to deal in cash these days. Now that they have websites for their businesses, they are enabling online payments to receive the money directly to their bank accounts. Most importantly, online payments are safe, and they can work from home efficiently and care for women’s lifestyles. 

  • Learning new business strategies:

Rural women who couldn’t go to school are now learning new business strategies that they can implement for their businesses. Education isn’t just about the books that you read in school. It’s also the knowledge that you can implement to make a living. Organizations like Global 360 are even tailoring finance strategies to help such industries flourish, thus empowering women’s lifestyles. 

The flexibility of smart devices

Apart from computers, smart devices are also helping women-run small-scale industries to flourish. For example, suppose you are an excellent baker, but your house is on the outskirts. You hardly come to the city, and hence, don’t have enough opportunities to work in a bakery. Instead of not utilizing your skill, you can start a business from your home. 

You need a website, a few different payment modes, and a few positive referrals from friends, family, and relatives who live in the city. Start small, but capitalize on the opportunities you get. For example, you can accept orders directly from your mobile phone on the go or respond to customer reviews while traveling somewhere. This flexibility of smart devices is making businesses so much easier for women.

This is an era of gender equality. Women work just as hard as men, and they deserve the support to grow. Fortunately, computers and other smart devices are helping these industries thrive without requiring as much help as before.

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