A Look at Female Entrepreneurs
Female entrepreneurs are all around us and it is becoming increasingly common for business owners to be women. According to the National Association of Women Business Owners:
- More than 9.1 million firms are owned by women
- One in five firms with revenue of $1 million or more is woman-owned
These businesses provide jobs and help to grow local communities and economies along the way. There are a variety of female-owned businesses, including those in the retail industry, service industry and healthcare industry. While women-owned businesses are scattered across the United States, the District of Columbia, Maryland, New Mexico, Hawaii and Georgia tend to have the largest percentage of women owned businesses according to the National Women’s Business Council. With the support of associations, government organizations and online resources geared toward female-business owners, there is a plethora of information to help answer questions and assist female entrepreneurs with getting started on their journey.
What do female entrepreneurs need to consider during the process of starting a business? It is important to determine whether forming an LLC or corporation is the right choice. Delaware is known as being the preferred place for forming an LLC or corporation for a variety of reasons including the beneficial tax structure. When starting a business, consider working with a Registered Agent to make sure that you have all of the correct information and have considered the benefits of LLC formation and incorporation before making a final decision.
Advantage Delaware has formed LLCs and corporations for women in the following areas: physicians, psychologists, chiropractors, home care nurses, singers and songwriters, accountants, rental property owners, Internet retailers, fashion designers, consultants, caterers, marketers, non-profits and café owners. In fact, about one quarter of our clients are female entrepreneurs with sole ownership of their company, and our staff is managed by a female entrepreneur. If you are a woman in business this is an exciting time. Women have more options available than ever before in regards to the economy and business formation. Considering forming a business? With the variety of resources available to help you research, form and grow your business, you are one step away from building a successful future!
In my experience, there are many women who are now working for themselves that have not formed an entity. It is important to note that if you do not form an entity (LLC or Corporation), the business will be a proprietorship. By adding Inc. or LLC to the name of your business it adds an increased amount of respect. This addition to your name shows the public that you are serious about your work. In addition to this, there is no better way to kick-start a growing business, gain tax advantages, and protect your personal assets than by forming an entity.
Located in Wilmington, Delaware, Advantage Delaware LLC has over 20 years of experience with forming Delaware business entities and managing Delaware Holding Companies. To learn more visit https://www.advantage-de.com or call 302-479-7764, or toll free 866-767-8600.