Today's Top Story: The Rise of the Female Solopreneur

Women are launching new businesses at historic rates, making up nearly half of all new startups. This surge is driven by a strong desire for flexibility, autonomy, and a better work-life balance. Female-led companies are changing the way we think about growing a business. Yet, a recent report reveals a hidden challenge: many women are building these businesses completely on their own.

A national study by Bizwomen found that women are 60% more likely than men to run their businesses without any external funding. While men often turn to venture capital, small business loans, or formal financial products, women tend to rely on personal savings, credit cards, or bootstrapping. This isn’t always a choice but points to real barriers women face when trying to access traditional funding.

Why More Women Are Choosing to Go Solo

Many women start businesses to gain control over their schedules and create a lifestyle that fits their values. Running a solo business offers freedom but also comes with challenges. Without partners or investors, women often carry the full weight of decision-making, marketing, and finances.

This solo path can lead to isolation and limits opportunities for growth. Without outside funding, it’s harder to invest in marketing, hire help, or scale operations. The result is many women solopreneurs find themselves stuck in survival mode rather than thriving.

The Funding Gap and What It Means

The Bizwomen study highlights a clear funding gap. Men are more likely to secure venture capital or loans, while women rely heavily on their own resources. This gap is not just about money; it reflects systemic issues like bias in lending, lack of networks, and fewer role models.

Women who self-fund often face pressure to keep costs low, which can lead to undervaluing their work. This affects pricing and profitability. It’s a cycle that keeps many female solopreneurs from reaching their full potential.

How to Break Free from the Solopreneur Trap

Industry leaders say two key changes can help women move beyond solo struggles: building a community and rethinking business infrastructure.

Build a Supportive Network

Having a trusted group of peers or mentors can make a huge difference. A personal board of directors offers advice, encouragement, and accountability. It helps combat imposter syndrome and provides fresh perspectives on tough decisions.

Rethink Pricing and Partnerships

Many women charge by the hour, which often limits income. Switching to project-based or value-based pricing can better reflect the true worth of your expertise. Also, seeking partnerships or alternative funding sources can provide the capital needed to grow.

One example of a service that supports female entrepreneurs is The Tory Burch Foundation. This foundation offers business education, capital growth programs, and a large community network designed to help women scale their businesses. You can learn more about their programs here.

Another valuable resource is Goldman Sachs 10,000 Women, a global initiative providing free business education, mentoring, and networking opportunities. This program helps women expand their enterprises and access new funding options. Check out their offerings here.

Practical Steps to Grow Your Business

If you’re running a business or planning to start one, here are some strategic moves to protect your margins and scale up:

• Stop Charging by the Hour

Switch to project-based or value-based pricing. This change helps you value your expertise fairly and increases your earning potential.

• Build a Personal Board of Directors

Surround yourself with trusted peers or mentors. This network will support you emotionally and strategically, helping you make better decisions.

• Partner for Capital

Don’t rely only on self-funding. Explore joint ventures, strategic partnerships, or alternative lenders focused on female founders. This can provide the resources you need to grow.

Close-up view of a notebook with business plans and a cup of coffee on a wooden table

Top Free Resources for Female Founders

Several national organizations offer free support, education, and funding opportunities for women entrepreneurs:

• The Tory Burch Foundation

Provides business education, capital programs, and a strong community network. It’s a great place to find support and resources.

• Goldman Sachs 10,000 Women

Offers free business education, mentoring, and networking to help women grow their businesses globally.

• Women’s Business Enterprise National Council (WBENC)

Helps women-owned businesses get certified, unlocking access to exclusive corporate contracts and growth resources.

These organizations can help you build the community and backing needed to move from surviving to thriving.

Aligning Your Business with Your Values

Running a business that fits your faith and values is powerful. It gives you purpose and direction. The Million DollHer Club aims to empower women to close the wealth gap by providing a faith-based blueprint for building profitable businesses. Their approach helps women grow income strategically and lead like CEOs while staying true to their purpose.

If you want to grow your business with intention, consider joining communities or programs that support faith-aligned entrepreneurs. They offer guidance, encouragement, and practical tools to help you succeed.

High angle view of a woman writing goals in a journal with a cup of tea nearby

Your Next Step

Building a business alone is tough, but you don’t have to do it by yourself. Start by reaching out to a community or mentor. Look for funding options beyond your own savings. And rethink how you price your services to reflect your true value.

Remember, your business can grow in a way that fits your life and values. You have the power to build something strong and lasting. Take the first step today and connect with resources like the Tory Burch Foundation or Goldman Sachs 10,000 Women. Your future self will thank you.