WAT Celebrates Women's Equality Day
Updated: May 22
This year, in honor of Women's Equality Day, let's work together to make gender equality a reality by supporting women-owned businesses.
Every year on August 26th, the United States celebrates Women's Equality Day to commemorate the 1920 certification of the 19th Amendment to the Constitution, granting women the right to vote. This women-led civil rights movement is more important than ever in this voting year.
In 1973, Congress passed the bill introduced by Representative Bella Abzug (D-NY) and designated August 26th, the anniversary date of the certification of the Nineteenth Amendment, as Women's Equality Day. Today, we celebrate this day not only to commemorate the suffragette movement and women's right to vote but also to call attention to our continuing effort to pursue full equality in the workplace, domestic environment, and beyond.
One hundred years after winning women's right to vote, is gender equality a reality yet? The answer is, not really. In 2020, although 40% of US businesses are women-owned, women only receive 7% of venture funds for their startups. Female entrepreneurs also ask for roughly $35,000 less in business financing than men.
Overall in the United States, women earn 81 cents for every dollar earned by men. Fifty years after the Equal Pay Act was signed, why are women still being paid less? If we look at the "controlled" statistics, which measures pay for men and women for the same position and qualifications, women have earned 98 cents for every dollar earned by men since 2016.
The reason why that gender pay gap still exists is that women occupy more lower-paying positions than men. Female representation is still lacking in high-paying jobs and leadership roles, especially in the C-Suite.
So, what can we do to close the gender pay gap? One of the easiest ways is to support women-owned businesses. When women are in leadership positions, they are more likely to hire female employees and treat them fairly. Plus, we need more boss women to empower other women!
In celebration of Women's Equality Day, here are ten women-owned businesses that you can support today.