How Women Can Close the Wealth Gap Through Entrepreneurship - and Why Community Matters More Than Ever
- 23 hours ago
- 3 min read
Financial Coach and Founder, Her Wealth Collective
I’m a financial coach for single women in tech, and I can tell you this: the majority of the women I work with dream of becoming entrepreneurs. Not because it’s trendy, but because they’re recognizing that entrepreneurship is one of the most effective paths women have to building long-term wealth.
Women now make up nearly half of new business founders in the U.S. In 2024, women started approximately 49% of new businesses, up nearly 69% from 2019. They’re realizing that their skills, experience, and leadership are often undervalued inside corporate structures, but hold enormous value outside of them.
Entrepreneurship shifts women into the wealth-building seat
When women start their own businesses, three major advantages open up.
1. More control over income.
Earning potential becomes tied to value and demand, not internal politics, pay bands, or biased performance reviews.
2. Major tax advantages.
Business owners can deduct expenses, set up Solo 401(k)s or SEP IRAs with higher contribution limits, and reduce taxable income strategically.
3. A realistic path to financial independence.
For many of the women I coach, financial independence means never again being financially tied to a company, a paycheck, or a partner. Entrepreneurship creates income streams and assets that accelerate that path.
Women are redefining what financial freedom looks like
The new “Sheconomy” isn’t just about growing wealth. It’s about autonomy. Women want the ability to walk away from workplaces, relationships, or circumstances that don’t serve them. They want options.
Entrepreneurship often delivers those options faster than climbing the corporate ladder.
The power of community economics
Here’s the part we don’t talk about enough: women rarely build wealth alone.
As a mom of three, I joke about participating in “the great underground mom swap” — the constant exchange of kids’ items. Women are supporting each other economically at a scale we’ve never seen before, facilitated by social networks.
Local Buy Nothing groups, Facebook Marketplace, Nextdoor, shared childcare, and community bartering stretch dollars, reduce financial pressure, and create micro-economies where women help women thrive. This isn’t just about saving money. It’s about redistributing resources in ways that reduce dependence on traditional financial systems that weren’t built with women in mind.
Community accelerates confidence, skill-building, and risk-taking
Women don’t lack ability. They often lack access and visible models.
When you see someone who looks like you negotiate a raise, launch a consulting firm, or make her first $10,000 investing, something shifts. You start to believe: If she can do it, I can too.
That’s why women-focused coworking spaces, entrepreneurship circles, and learning communities are growing rapidly. They close knowledge gaps faster than any course alone ever could. It’s also why I created my own investing community. When women learn together, talk openly about money, and take action side by side, investing becomes normal instead of intimidating.
So how do women close the wealth gap through entrepreneurship?
By stepping out of systems that undervalue them.
By building businesses that fully leverage their skills.
By keeping more of what they earn through smart tax and retirement structures.
By investing in themselves, in each other, and in assets that grow.
The future of women’s wealth isn’t just individual. It’s collective.
Connect With Alana
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