We’re in the midst of a post-pandemic small business revival: Americans have started more new businesses last year than ever since data collection started.
Female entrepreneurs are a major driver of that growth. New data from my company, Gusto, shows that women started half of all new businesses in 2023. This is compared to a mere 29% in 2019. Women-led businesses have proven uniquely resilient to tough economic conditions like persistently high inflation and interest rates, and they generated $2.7 trillion in revenue last year.
This is a remarkable comeback for women entrepreneurs who suffered disproportionately during the pandemic. Here’s why female entrepreneurs are creating businesses at record rates.