Gwen Young of the Women Business Collaborative Calls for Equal Pay & Power

Women Business Collaborative (WBC), led by CEO Gwen Young, is a coalition of influential companies and 87 organisations committed to advancing women in business. WBC emphasises data-driven insights to demonstrate the positive impact of women in leadership and entrepreneurship.

Despite longstanding recognition of the importance of female representation in business, recent debates have questioned their role. WBC seeks to reaffirm that women are essential to business success. Key data highlights include:

• 14 million women-owned businesses in the U.S. represent 39.1% of all U.S. firms, employ 12.2 million people, and generate $2.7 trillion in revenue (Wells Fargo)
• Organizations with 30% or more women on executive teams are 27% more likely to outperform on profitability (McKinsey & Company)
• Companies with above-average diversity generate 19% more innovation revenue than their less diverse counterparts (Boston Consulting Group)
• The share of majority women-owned businesses rose from 15.6% to 20.3%—doubling participation in the market since 2020—and their revenues have helped drive economic growth (Small Business Administration)
• Minority Women Business Enterprises (MWBEs) generated $67 billion in revenue, created 221,000 U.S. jobs, and contributed $19.5 billion in wages (National Minority Supplier Development Council)

Despite these contributions, women remain underrepresented in leadership, holding only 8.72% of CEO positions and 28% of board seats, while female founders receive just 2% of venture capital funding. Pay gaps persist, with women earning 84 cents to the dollar and women of colour earning even less.

Ms. Young calls for immediate action, stating that closing these gaps is not just a moral imperative but a strategic business necessity. WBC continues to advocate for equal pay, power, and opportunity for women in business.

 

Original Source: PR Newswire