This Community Voices column is written by Jill Morenz, the CEO of Aviatra Accelerators in Covington. Jill is passionate about equipping women-owned businesses with the tools and support they need for lasting success.
Women are starting businesses at a greater rate than ever before. In 2024 alone, women-owned businesses in America generated $3.3 trillion in revenue and employed 12.9 million people. Here in our region, women-led ventures are transforming local economies, creating jobs, meeting community needs, and making our neighborhoods more vibrant. In Kentucky, 41.5% of all businesses are owned by women.
Despite these impressive statistics, barriers remain. The 2025 Wells Fargo Impact of Women-Owned Businesses report notes that women-owned businesses “still account for only 9.6% of employment and 6.3% of revenues,” underscoring the ongoing gap that needs to be addressed. Limited access to capital, concentration in lower-profit sectors, and the challenge of balancing caregiving and entrepreneurship continue to make the path to business growth difficult for many women.
Still, women across the region are turning ideas into thriving ventures, proving that success comes from focus, support and smart decision-making. Here are five things every woman entrepreneur should know before starting a business.
1. Start with purpose, not just a plan.
A solid business plan is essential, but a clear purpose matters even more. Knowing why you’re starting your business or what problem you are trying to solve can help you define your brand messaging and guide your choices. A purpose-driven business also tends to resonate more with customers, creating emotional connection and trust. Write down your “why” and refer to it often. Let it drive how you make decisions, market your brand and define success. It will help you stay focused on what matters most.
2. Test your idea before you scale it.
The early stages of your business can be a learning opportunity. Before you invest significant time or money, test your concept on a small scale. Offer a limited version of your product or service, gather feedback from early adopters and refine based on what you learn. Testing helps validate your idea, define your ideal customer and minimize risk.
3. Build a support network early.
Entrepreneurship can be somewhat isolating, but it doesn’t have to be. Seek out other women business owners, mentors and professional networks. Surround yourself with people who’ve been there and can offer real-world advice and moral support. Join local business groups, accelerator programs or online communities focused on women in business. Connecting with a trusted network of other women to share advice, experiences and challenges can help you feel supported and encouraged. Plus, networking can often lead to partnerships, referrals and even funding opportunities.
4. Strengthen your financial and leadership skills.
Many founders are highly skilled in what they do best but less comfortable managing finances or teams. Yet understanding the “money and people” sides of your business is essential for sustainable growth. Learn more about finance and leadership, work with a mentor and invest in tools that help track revenue, expenses and performance. When you understand cash flow, pricing, budgeting and profit margins, you can make informed decisions.
5. Stay flexible and keep learning.
The most successful entrepreneurs are the ones who never stop learning and embrace change. Revisit your business plan regularly. Ask what’s changed, what’s working and what’s next. Seeing change as an opportunity and adapting along the way is what keeps a business thriving.
Starting a business is as challenging as it is rewarding. It requires courage, determination and fortitude. When women succeed as entrepreneurs, the benefits far exceed their individual ventures; women entrepreneurs are reshaping what local business looks like, creating jobs, supporting families and strengthening communities.
Ready to grow your idea into something real? Know your “why,” build your support circle, stay flexible and take one step at a time. The best businesses start with confidence, commitment and drive.
If you have an idea for a Community Voices column, email Meghan Goth at mgoth@linknky.com.
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