Breaking Barriers: Women, Wealth & the Power of Economic Empowerment

Part of the Scholarships & Economic Empowerment Series

Honoring Women’s History Month Through Action Every March, we celebrate Women’s History Month, honoring the vision, resilience, and leadership of women who shaped history.
But celebration alone is not enough.
The greatest tribute we can give to the women who came before us is to expand opportunity for the women and girls coming after us.

Resources Supporting Women’s Economic Empowerment

Scholarships for Women
AAUW Scholarships & Fellowships
https://www.aauw.org
Jeannette Rankin Women’s Scholarship Fund
https://rankinfoundation.org

Patsy Takemoto Mink Education Foundation
https://www.minkfoundation.org
Fastweb Scholarship Database
https://www.fastweb.com
Bold.org Scholarships
https://bold.org

Entrepreneurship Resources
IFundWomen – Grants and funding for women entrepreneurs
https://ifundwomen.com
SCORE Mentorship Program
https://www.score.org
Women’s Business Centers (SBA)
https://www.sba.gov
National Association of Women Business Owners
https://www.nawbo.org

DMV Regional Resources
Maryland Women’s Business Center
https://www.marylandwbc.org
DC Women’s Business Center
https://www.dcwbc.org
Virginia Women’s Business Center
https://www.vawbc.org

Entrepreneurship: Women Building the Future Women entrepreneurs are transforming industries. Across the United States, women-owned businesses are growing faster than ever.

In fact:
• Women own over 12 million businesses in the U.S.

• These businesses generate over $2 trillion annually
• Women of color are among the fastest-growing groups of entrepreneurs

Despite this growth, women founders often struggle to access the capital required to scale their businesses. This is where mentorship, microgrants, and business development programs can make an extraordinary difference.

When a woman launches a successful business, she often creates:
• jobs within her community
• mentorship opportunities for younger women
• financial independence for her family Economic empowerment multiplies.

Today, women are launching businesses at record rates, pursuing higher education in unprecedented numbers, and leading movements that redefine what leadership looks like. Yet barriers remain. Women especially women of color continue to face disparities in:
• access to capital
• access to mentorship
• wage equality
• financial literacy resources
• leadership opportunities
Economic empowerment is not just a financial issue it is a social justice issue. And the solution begins with education, mentorship, entrepreneurship, and access to opportunity.

The State of Women and Wealth
Progress has been made but the numbers remind us there is still work to do. Women today control nearly one-third of global wealth, and that number continues to rise. However:
• Women earn about 82 cents for every dollar earned by men
• Women of color face even larger wage gaps

• Women receive less than 3% of venture capital funding
• Women are more likely to take career breaks to support family caregiving

These disparities compound over time, affecting:
• retirement savings
• investment opportunities
• business growth
• generational wealth
But knowledge is power. And when women gain access to financial education, mentorship, and capital, entire
communities rise.

Education: The First Gateway to Economic Power Education remains one of the most powerful tools for advancing gender equity. Scholarships and financial aid programs can dramatically change the trajectory of a young woman’s life especially for first-generation college students. Many women abandon college dreams not because they lack ability, but because they lack financial support and guidance.

Scholarships can provide:
• reduced student debt
• access to better career opportunities
• professional networks
• confidence and independence
Organizations like The Gatsby Showcase Foundation work to ensure that students especially those from underrepresented communities can access the support needed to pursue their educational goals.

Mentorship: Lifting as We Climb One of the most powerful tools in economic empowerment is mentorship.

Mentorship creates bridges between experience and ambition.
A mentor can help a young woman:
• navigate career paths
• prepare for scholarship applications
• develop leadership confidence
• avoid financial mistakes
• grow a business idea into reality
Mentorship is also one of the most powerful ways to build community.
When women support each other, they create ecosystems of growth that extend across generations.

A Story of Empowerment Consider the story of a young entrepreneur who started a small catering business while attending college.

With the guidance of a mentor and a small microgrant, she was able to purchase commercial equipment and expand her services.

Within two years, her business had grown enough to hire three employees two of whom were single mothers seeking financial stability.
That is the ripple effect of empowerment. One opportunity becomes many.

Final Thoughts: Empowered Women Empower the World, Economic empowerment is not only about personal success. It is about collective progress. When women gain access to education, financial literacy, and entrepreneurial
opportunity, they uplift families, strengthen communities, and drive innovation.

This Women’s History Month, let us move beyond celebration and commit to expanding opportunity.
Support a scholarship. Mentor a young woman. Invest in a woman-owned business. Because when women rise, the entire world rises with them.

Dr. Bertrand Fote, MD, MBA, FACEP, CFF
President
The Gatsby Showcase Foundation