Rise of Female Entrepreneurship: Surge in Women-Owned Businesses Signals Economic Shift

Laurie Moulton is a female entrepreneur who’s breaking down social barriers while also opening up new economic opportunities across the Coachella Valley. "I get so excited about women in business," she said. "I get excited about the expansion that they’re bringing to the marketplace and just all of the opportunities that women are bringing." Moulton owns and operates Lux Box Agency, Lolo Interiors, and House of Lolo — making her part of the recent surge of women running their own businesses. A new study from Wells Fargo shows an increase of women-owned businesses starting up across the country and the statistics show they’re growing faster than their male counterparts. "I actually think the faster growth of women-owned businesses is a testament of these long-term efforts in promoting inclusive entrepreneurship," said Qingfang Wang, a professor of public policy with the University of California, Riverside. She says there’s about 14 million women owned businesses across the country which represents about 40 percent of all businesses. Though Wang expects those numbers to continue climbing, she also predicts several challenges. "It will continue to grow but we really have to pay attention here, which is despite their significant contribution, women owned businesses always face unique challenges: access to capital, gender bias, and balance in business and family responsibility." As Moulton looks to add to her business portfolio, she is also adding a new role of becoming a mentor while inspiring the next generation of female entrepreneurs. "Laurie is my biggest role model," said Briggsy, digital marketing manager of House of Lolo. "She is such an incredible entrepreneur and such an incredible leader and decision maker. I’m motivated and inspired by her every day." This story was written and reported by Kai Beech.