Women-Owned Businesses Surged 17% In 2023 As the She-conomy Soldiers On

Women girlbossed so brilliantly last year that pundits have crowned it the “Year of the Girl.” From girl math to girl dinner, women influenced major cultural trends across various industries, showcasing their role as key drivers of economic growth. They also made their mark in entrepreneurship, narrowing the gender gap in a traditionally male-dominated field.
- In 2023, women launched over 58K new businesses — up 17% from the year before, according to Yelp’s “She-conomy” Trend Report.
- Gusto’s payroll data revealed that women accounted for 49% of new business owners last year, surpassing men at 45%.
She’s all that: During COVID-19, female workplace participation rates took a significant hit, but they have rebounded strongly in 2023, particularly among prime-age (millennial) women in countries like the US, Australia, and Japan. Factors contributing to this resurgence include increased hiring, higher education, and flexible work-from-home options. Ned Davis Research found that the growing presence of millennial women in the workforce could have far-reaching positive effects on the economy, stock market, and retail spending as they spend more, buy homes, and enhance productivity.




