Millions of people around the world planned to demonstrate, attend conferences and enjoy artistic events Wednesday to mark International Women’s Day, an annual observance established to recognize women and to demand equality for half of the planet’s population.

While activists in some nations noted advances, repression in countries such as Afghanistan and Iran, and the large numbers of women and girls who experience sexual assaults and domestic violence worldwide highlighted the ongoing struggle to secure women’s rights.

On this International Women’s Day in 2023, the “glass ceiling” is alive and well, blocking women from advancement across the corporate world. This is true at Fortune 500 companies, where they experience slower career climbs than their male peers, among executives in general—where more are excluded from informal networks and mentors—and among MBA graduates’ careers, where women end up paid less. That’s all despite having similar qualifications, skills and experience.

Since International Women's Day was first celebrated over a century ago, the number of female-owned and operated companies has grown, with many women acting in top-level corporate positions in various industries. 

However, female ownership still represents a visible minority of overall business owners in the United States and across the globe. The U.S. Census Bureau released a study in 2022 that showed women-owned companies generate approximately $1.9 trillion in sales and are responsible for employing nearly 10 million workers nationwide.