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Harness the power of cultural intelligence to win diverse America. Discover how you can turn insights into impact today!
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.
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.
Collage Group’s Insights on Women Small Business Owners will help your brand to:
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.
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 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.
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.
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.
For more research on how to connect with and engage small business owners, especially multicultural women, contact us today to learn more.
Harness the power of cultural intelligence to win diverse America. Discover how you can turn insights into impact today!
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Collage Group is a certified Minority Business Enterprise (MBE) by the National Minority Supplier Development Council (NMSDC).
©2023 Collage Group
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