Women-Owned Businesses Combine Profit with Purpose

March is a month dedicated to recognizing and honoring women’s contributions to history, known as Women’s History Month. During this month, media outlets highlight trailblazing female figures of the past and present, while businesses celebrate their female employees and executive leaders.

In addition to Women’s History Month, March is also B Corp Month, recognizing businesses that strive to make a positive impact on all stakeholders, not just profitability. While these businesses are worthy of recognition, it is also important to acknowledge women-owned businesses and female entrepreneurs who prioritize social and environmental impact, alongside profit.

According to a recent study published by the Global Entrepreneurship Monitor, women’s Total Early-stage Entrepreneurial Activity (TEA) rate in the United States increased to 15.2% in 2021, up from 13.6% in 2020. Of those surveyed, 70.5% cited the desire to make a difference as a motivating factor for starting their own businesses.

Female Entrepreneurs Making a Difference

FoundHer, an entrepreneurial women-owned recruiting firm, is one such business making a difference. The company aims to combat discrimination against mothers when returning to the workforce after taking a career break. FoundHer achieves its mission by placing women and mothers with corporate clients who value flexibility and implement fair pay practices.

“We won’t always say ‘yes’ to taking on a client. It’s important for us to understand a client’s policies around supporting women through parental leave, promoting women internally, hiring women for executive level positions, and implementing policies around flexibility and equal pay,” explains Runa Knapp, Co-FoundHer and Chief Business Development Officer.

Recently, FoundHer achieved its B Corp Certification, a private certification issued by B Lab to for-profit companies based on their social and environmental performance. Approximately 40% of US-based B Corps are currently operated and run by women, according to B Lab statistics.

Another example of a woman-owned B Corp is The Produce Moms®, an influencer brand with a mission to encourage people to eat more fruits and vegetables. The Produce Moms® works with farmers to provide content marketing and ambassadorship services over a harvest season or calendar year, evaluating clients based on criteria such as payment of fair labor wages and sustainable practices.

“The world of influencer marketing is not typically rooted in values: it’s rooted in metrics, money, and in making people’s faces famous. Studies show that up to 90% of people feel worse about themselves after scrolling through social media and being exposed to influencer marketing content, and we are trying to change that,” explains Lori Taylor, CEO and Founder of The Produce Moms®.

The Tea Spot, founded in 2004, was one of the first companies to become B Corp certified in Colorado in 2011. As the leading tea brand for healthy hydration, the company’s founder and CEO, Maria Uspenski, created a model of social entrepreneurship by incorporating a mission to foster health and wellness through loose leaf tea with its 10% for Wellness program. The program donates 10% of all profits in-kind to cancer survivors and community wellness programs.

“As a Colorado-based Public Benefit Corporation and certified B Corp, our company donates 10% of all profits for wellness. To date, The Tea Spot’s program has donated more than 1 million cups of tea and $100,000 through our 10% for Wellness pledge. One of the things I love most about our commitment is that it is so inspiring for our employees,” said Uspenski.