ROANOKE, Va. – Women are starting businesses at a faster rate than men nationwide, according to recent studies, but many still face financial and structural barriers when trying to launch or grow a company.
Those challenges haven’t stopped entrepreneurs in Roanoke, where women-owned businesses have become a visible part of the local economy, particularly around the city’s Market Square area.
Among them is Shades of Color owner Pauline Wood, who has run her store for more than 40 years.
“I think as a female, I just think it’s harder anyway,” Wood said.
Still, she said, persistence and connecting with customers have helped her business succeed.
“It can be hard if you let it be hard,” Wood said. “But I’m the kind of person — I’m a people person. I can talk to anybody, and I can tell them what I’m doing, and I get my business out there.”
Studies show women entrepreneurs often face greater financial barriers. A report by Forbes found only about 4% of small-business loan dollars go to women-owned companies, and roughly 2% of venture capital is invested in businesses founded by women.
Wood said in recent years, however, a different challenge has affected many small retailers: online shopping.
“It’s always better to buy it in person as opposed to over the internet,” Wood said. “Because, as you know, the internet has taken quite a bit of our business.”
Another long-standing woman-owned business in the city is Melody Haven, a music store owned by Sue Rowe. Rowe took over the family business years ago after her in-laws ran it.
She said she doesn’t let gender stereotypes affect how she runs her business.
“If they’re capable of doing the job, then give them credit,” Rowe said.
Rowe’s advice for fellow women in business? Don’t listen to gender stereotypes.
“Sometimes you have people who maybe look at a woman as not being capable of doing something,” Rowe said. “But then you show them you can and win their confidence.”
For both Rowe and Wood, they say the key to long-term success remains simple: customer relationships.
“The main thing is just to enjoy your customers and be there to help them with whatever their needs are,” Rowe said.
As more women open businesses across the country, entrepreneurs in Roanoke say they hope their success encourages the next generation of business owners.