Women’s Entrepreneurship Day Organization (WEDO) and #ChooseWOMEN is a non-governmental volunteer organization
with a mission to economically
empower women and alleviate poverty worldwide
History
Women's Entrepreneurship Day was founded by Wendy Diamond, inspired by her experiences volunteering with the Adelante Foundation in Honduras where she saw how equipping women financially has the power to transform a communities. In 2013, she founded the Women's Entrepreneurship Day Organization (WEDO). In December 2014 Wendy launched the first Women's Entrepreneurship Day at the United Nations in New York City to raise awareness of the 250 million girls living in poverty that deserve to be given a chance in life and to empower the 4 billion women on the planet.
“Historically, women worldwide have been underpaid, undervalued, underrepresented, underfunded, and underestimated. We are dedicated, determined, and driven to change this global imbalance.” - Wendy Diamond
Since then, the #ChooseWOMEN movement has grown The annual Women's Entrepreneurship is celebrated at the United Nations, in 144 countries and in over 65 universities internationally to inspire, empower, celebrate, and support women entrepreneurs around the globe to alleviate poverty and open opportunities.
Women, Economic Power, and the Pandemic
Women’s Entrepreneurship Day 2021 will take place against the backdrop of the global pandemic and its impact on the global economy. Given COVID is still a concern, why does the world need Women’s Entrepreneurship Day & #ChooseWOMEN, and why should we support it?
For perspective around the economic power of women, consider these facts. Women account for 85% of consumer purchases and control $20 trillion in worldwide spending. Simultaneously, women perform 66% of the world’s work and only earn 10 percent of the world’s income. In the US, there are nearly 13 million women-owned businesses, 42% of all companies, which generate about $1.8 trillion annually. Statistics also indicate that more women (registration required) started a business in 2020 than men.
This economic success is more even more impressive given the barriers women entrepreneurs face. Limited funding is a concern for male and female entrepreneurs alike. According to Crunchbase data, only 2.3% of venture capital funding goes to women entrepreneurs. Nearly half of women business founders cite a lack of support from advisors and mentors. Additionally, work-life balance is a major consideration for working women. Pew data report that stay-at-home parents account for about 18% of parents in the U.S., the overwhelming majority being women.
The COVID pandemic has impacted women disproportionately more than men. According to a World Bank Gender Innovation Lab report, female-owned businesses were 5.9% more likely to close during the pandemic than male-owned businesses. Pocket Sun, founder of New York-based SoGal Ventures, told Crunchbase News. “I saw women being disproportionately burdened by unpaid labor during COVID, and women starting or pivoting their businesses due to the destructive nature of COVID, but I also saw women growing their businesses like crazy because their companies serve real, important needs and they are more agile and capital efficient to adapt.” The pandemic has amplified the importance of this year's WEDO summit fostering women entrepreneurship in difficult times.
2021 Virtual WEDO Summit
November 19th 2021 from 2:00 - 5:00 pm EDT
This year's Women Entrepreneurship Day Summit will be virtual. Registration is free! The event will feature over 20 speakers and provide opportunity to network and take action to support empowerment of women entrepreneurs globally.
All funds raised support WEDO's mission to accelerate and educate the world on the importance of why it’s pivotal to empower women in business globally. When women are elevated financially, communities, states, and countries prosper, building a global blueprint that will alleviate and eradicate poverty.
WEDO is committed to elevating the following six United Nations Sustainable Development Goals to help make the world a better place:
Ways to Celebrate Women's Entrepreneurship Day
Attend the WEDO 2021 virtual summit.
Check out #ChooseWomen to find and support women-owned businesses around you. The 1st Wednesday in December is #ChooseWomenWednesday!
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