More women are starting small businesses

Starting and running a small business takes a lot of passion and determination, and recently the number of women taking the plunge has been rising.

According to recent data from the Institute of Women’s Policy Research (IWPR), about 29 percent of all business owners in America are women. This figure is up from 26 percent as recently as 1997. In the last decade, there has been a growth of 68 percent in women-owned firms compared to only 47 percent growth for all businesses on record.

One aspect of women-owned businesses that stands out is the 265 percent increase in the number of minority women who have stepped up to be their own boss.

Two programs, the Small Business Jobs Act of 2010 and the Women’s Equity in Contracting Act, help these businesses get more contracts from the government.

Passion will only take a woman so far if she is serious about building something from the ground up and, just like their male counterparts, it is wise to follow the advice of those with experience. According to Fortune Magazine, women interested in starting their own small business should pursue certifications in their field to gain legitimacy, seek out other women to partner with and learn from, and get ready to hustle to build their customer base by putting themselves out there.