Statistically speaking, women-led companies perform better than their male-led counterparts. They typically procure less funding, while having higher revenue and more innovation. This link was studied by the BCG Henderson Institute, and showed how companies who embraced cultural changes and increased diversity were able to increase their productivity over time. The study outlined how the wage gap also existed in the investment world in the form of a funding gap for new businesses. Social equity aside, the study concluded that women-led companies are on average a far better investment than male-led companies in similar positions.
Women in Wellness
According to a 2020 statistic from the Women’s Business Enterprise National Council, 40% of businesses in the US were founded by women. While there is still a significant discrepancy between that and the gender proportion of the population of the US, it is a massive improvement from decades prior.
The UK faces similar challenges, where 48% of investment teams don’t have any women at all, and only 13% of female entrepreneurs build companies with sales between £1-£50m compared to 26% of their male counterparts. These stats, all found by a study by BusinessComparison, show the lack of representation across the board in female-founded businesses.
This year, we would like to celebrate the accomplishments of 5 female-founders in wellness. These women broke glass ceilings to get to where they are and encourage others to do so as well, regardless of gender.
Ashleigh Hinde - WALDO
It is only appropriate to start off with Ashleigh, who founded WALDO in 2017. Her entrepreneurial spirit was sparked by her mother, who was a full-time working mom running her own business at just 25. In just over 3 years, Ashleigh has grown WALDO to raise over $7.5 million*.
Emily Weiss - Glossier
Glossier disrupted the makeup market by creating and popularizing products that truly enhanced natural beauty. Sheer coverage, fun makeup that appealed to those who prefer a quick, simple routine. With a large majority of makeup conglomerates owned and operated by male CEOs, Emily decided to step in and give women what they actually want. She listens to her customers and creates products that she sees the demand for.
Yunha Kim - Simple Habit
Yunha started her career in investment banking before founding her meditation-app startup in 2016. In an article she wrote about being a female CEO, she highlights that while there are cons to being a woman in the tech world, there are also many pros. Her balanced approach to the topic allowed her to frame her perspective on the topic. As she put it, “After all, it’s not like you can choose whether to be a female CEO vs male CEO. But you can choose your attitude toward it.”
Farah Kabir and Dr Sarah Welsh - Hanx
Best friend duo Farah and Sarah founded Hanx in 2017 to allow women’s voices to be heard in a field where everything was focused around men. They bring women’s pleasure to the forefront of the conversation and pair it with education to empower women in sexual settings.
Jules Miller - Nue Company
Nue Co., a food-based supplements company was started by Jules Miller, who sought to reinvent the supplements industry. When interviewed about her views on being a female CEO, she actually gave credit to her male counterparts, who she said helped her get to the level of success that she is at. Her unique gender agnostic approach encourages equality by getting help from both sides of the aisle.
Creating an Inclusive Space
The conversation around women in senior-level positions is one that will continue to happen as long as their inequality exists, and likely even beyond that point. While International Women’s Day is an excellent time to celebrate women and their progress towards equality, it is essential to have these conversations periodically to evaluate any internal biases that might be present in our society.
Women CEOs should not only be celebrated because they are women. Aside from just gender, there are countless other struggles that CEOs and founders often go through to reach their success. While International Women's Day is an excellent checking point to look around and view women’s accomplishments, what is more important is to create environments where all voices are heard year round. After all, women are women every day of the year.