Engage Women Small Business Owners in America

Small businesses drive the U.S. economy, and their owners reflect the diverse cultures and perspectives of Americans. Read on for more information about how to connect with women small business owners by understanding how they see themselves, their goals, challenges, and motivations for partnering with larger companies.

Reading Time: 4 minutes

January 25, 2024
Katya Skogen – Director, LGBTQ+ & Gender Insights

Nearly all private businesses in the U.S. are small businesses, and 1 in 5 of those are owned by women. At the helm of all that economic heft is an owner who tends to be highly engaged in the day-to-day decisions of the business. As a result, women small business owners (SBOs) make up an important segment with whom marketers and larger businesses should engage and build partnerships.

Fill out the form to download an excerpt from our Women Small Business Owners: Engage an Influential Consumer Segment and read below for all the latest insights.

Women Small Business Owners - Slide Deck Example

Collage Group’s Insights on Women Small Business Owners will help your brand to:

    1. Celebrate ambitious women entrepreneurs,
    2. Elevate digital services with a personal touch, and
    3. Empower entrepreneurs through partnership.

What Surprised Us:

Multicultural women are starting business at 4.5x the rate of the general population. This optimistic and driven segment firmly believes they have what it takes to make their businesses a success. At the same time, they are more open to partnerships with large companies in comparison to their white counterparts.

Why It Matters:

To effectively connect with this dynamic consumer segment, brands should begin by acknowledging and celebrating their individual accomplishments, approaching them with the respect and appreciation they have earned. Moreover, brands should highlight their commitment to empower not only these entrepreneurs but also their communities at large, enabling them to attain greater success and turn their dreams into reality.

Multicultural Women-Owned Small Business is growing fast

The Big Picture:

    1. Optimism and Ambition. Multicultural women small business owners are inherently positive and driven. Celebrate their achievements and nurture future growth ambitions.
    2. Support = Amplification. These entrepreneurs seek partners that can amplify their resources and reach. Use your brand’s scale and digital platform to fuel their resilience and creativity.

Key Insight #1: Celebrate Ambitious Women Entrepreneurs

Know This:

Multicultural women SBOs’ confidence in the future of their ventures is rooted in the inherent optimism of Multicultural Americans. This confidence is further bolstered by the surge in multicultural women-owned businesses in the U.S.

Do This:

    • Celebrate and embrace their ambition, optimism, and innovative qualities in your brand messaging and positioning to accurately reflect how women SBOs see themselves.
    • Demonstrate how your brand can help balance their personal and business goals and ambitions. Emphasize how they can access your products and services on-the-go, seamlessly managing business without interrupting their lives.
Multicultural women SBOs are Optimistic about their business outlook

Key Insight #2: Elevate Digital Services with a Personal Touch

Know This:

Multicultural women SBOs are enthusiastic and prolific digital and social media users. They see the internet as a key to solving many business challenges.

But despite their enthusiasm for digital platforms, multicultural women SBOs largely prefer to work with key business services providers, including banks and insurers, in-person.

Do This:

    • Lead with tech-enabled services, tools, and communication to match multicultural women SBOs’ knack for intuitive and innovative digital business solutions.
    • Ensure high quality of in-person customer experiences and seamless transitions between digital and physical channels to meet their expectations for both face-to-face and virtual interactions with service providers.
Multicultural Women entrepreneurs build a strong a visual presence

Key Insight #3: Empower Entrepreneurs through Partnership

Know This:

Multicultural women-owned businesses continue to work against many obstacles.

That’s one of the reasons why they rely more heavily than white women SBOs on connections and networking to strengthen their business footing. As a result, they’re more open to using external resources like support organizations and partnerships with larger companies.

Do This:

    • Go beyond simple “service provider” to position your brand as a partner in growth and success. Signal how you can fuel innovation, extend their financial and operational resources, or amplify their reach.
    • Facilitate connections between women SBOs, each other and their community.
    • Demonstrate sustained commitment to diversity and inclusion initiatives to strengthen trust and establish partnerships with multicultural women-owned companies.
Multicultural women SBOs are more open to partnering with larger companies

For more research on how to connect with and engage small business owners, especially multicultural women, contact us today to learn more.

Other Recent Research Articles & Insights from Collage Group

Katya Skogen

Katya Skogen

Katya leads Collage Group’s LGBTQ+ and Gender research. Her other interests include multicultural segments as well as consumer behaviors and attitudes in the context of media, technology, food and beverage, and retail industries.

Get In Touch

There's a world of Data Insight Opportunity just for you

Harness the power of cultural intelligence to win diverse America. Discover how you can turn insights into impact today!

Skip to content