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Milli says that increasing educational attainment by these groups also likely plays a role in their ability, and desire, to choose entrepreneurship instead of other paths.
“Things like that really aim to put women-owned businesses and minority-owned businesses at a competitive advantage,” she says.
“It restricts competition, which has really helped to boost revenues and help more businesses get into the industry.”But such policies can’t, and haven't, solved all the challenges inherent to being a female business owner.
"Women-owned business are far less likely to have any start-up capital, and when they do they have much less than men-owned business," she says.
In addition, women who own businesses may find themselves in a sort of vicious cycle when it comes to funding.
That makes it even more critical that women break into fields that have long been populated almost entirely by men. “The highest amount of growth in the number of women-owned businesses were actually very male dominated industries,” says Milli.