Since the many layoffs, firings and career pivots of 2020, many professionals have turned their sights toward entrepreneurship. Alongside the attraction of working for oneself came the opportunity to start fresh in a new space and maybe even a new industry altogether. For women, who were disproportionately affected by the economic impact of the pandemic, that meant the chance to enter fields which have historically been lacking female voices.
According to a panel of female entrepreneurs from Young Entrepreneur Council, the following seven business opportunities are areas which could strongly benefit from the involvement of other female professionals. If you’re a woman in business, consider making a difference in one or more of these sectors and lending your voice to the conversation.
I strongly believe more female entrepreneurs should go into femtech. The femtech space is growing rapidly, but there is still not enough funding or female entrepreneurs in this space. As a female founder of an ovarian cancer diagnostics company, I have found it very beneficial to work with other women on my team who can relate to the problems we are trying to solve. As a female entrepreneur in the femtech space, you have the ability to bring forth a passion for something that can impact you and other women directly. I am so driven by the desire to help create a better future for women’s health. I hope to see more female entrepreneurs in the femtech space soon. – Oriana Papin-Zoghbi, AOA Dx Inc
2. Coding And Web Development
Based on my experience, this is a field that’s predominantly male-dominated. It’s a sector that’s only going to become more important and relevant in the future as we continue the pivot toward the digitalization of every facet of our lives. Having more female representation in this space would open up more possibilities not just for women, but also for a more diverse B2B experience. Female entrepreneurs who even just have a rudimentary understanding of coding and web development will outpace the norm of their fellow entrepreneurs, which will, in turn, propel their businesses forward even further. This is doubly true for female business owners whose market is predominantly online. – Emily Stallings, Casely, Inc.
3. Angel Investing
The opportunity I’d like to see more women involved in is angel investing into female-founded companies. Women struggle with cash flow when starting a business; this can prevent profits. The “boys club” of venture capital can intimidate women and make us feel unworthy of pitching or sharing space with a room full of masculine energy. This imbalance needs a tweak. Even in pop culture and shows like Shark Tank, the women investors are few and far between. Women only received 2.3% of VC funding in 2020 (a decreased number from the year before). Women who start, run and sell businesses serve as role models but appear as illustrious unicorns. Supporting women via funding decreases the imbalance. – Libby Rothschild, Dietitian Boss
4. The Courier Business
The courier business is so “in” right now! It’s very easy to start it and, with the right marketing strategy, your business will grow rapidly. You only need IT and marketing skills plus vehicle options and you’re ready. With the right connections and PR, it will grow even faster. – Daisy Jing, Banish
5. Residential Real Estate Flipping
As an aspiring home flipper, I would love to see more female entrepreneurs get involved in the buy-renovate-and-flip residential real estate market. However, most of the television shows on the air and the literature that is available now have been developed by men or men have been involved in some way. I would like to see an education and resource hub created by women that’s dedicated solely to female flippers. – Kristin Kimberly Marquet, Marquet Media, LLC
6. High-Tech Businesses
When I started my high-tech business, I was told by more than a few investors that I should pivot my software platform to be a shoe marketplace. Needless to say, I did not take their advice. While I love sectors that are deemed “female-focused”—shoes, makeup, etc.—I would love to see more women enter high-tech industries with businesses that command high multiples, targeting unicorn status. I think women bring a different and extremely helpful perspective to problem-solving—a perspective that is often missing in the upper leadership at high-tech companies. Not to mention, more involvement in this arena would help bust the stereotype that women-founded companies are typically in lower multiple categories. – Cooper Harris, Klickly
7. Cryptocurrency And NFTs
I think female entrepreneurs should be in every industry, but I’d love to see more women in the NFT and crypto space because as I’ve tried to educate myself on these topics in the financial industry, I mostly see opinions, articles and companies being led by men. – Kelsey Raymond, Influence & Co.