Posted in business, entrepreneurship research, women's business ownership, women's enterprise development, women's business research studies, women-owned business, tagged American Express OPEN, Julie Weeks, statistics, US Census Bureau, women's business development, women's enterprise, women's entrepreneurship, Womenable on April 4, 2013 |
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With the support of American Express OPEN, Womenable has reported on trends in the growth and development of women-owned enterprises, drawing upon detailed information from the U.S. Census Bureau, since 2011.
In our inaugural report, The American Express OPEN State of Women-Owned Businesses Report: A Summary of Important Trends, 1997-2011, we provided up-to-date estimates on the number, employment and revenues of women-owned firms, and shared the insight that – despite above-average growth in the number of firms – women-owned businesses were not progressing up the business size continuum.
Our 2012 report, The State of Women-Owned Businesses Report: A Summary of Important Trends, 1997-2012, again provided up-to-date estimates of the number and growth of women-owned firms, and took a more detailed look at the economic clout of women-owned firms regionally and within industry – finding that women-owned firms in two industries (construction and transportation) were standing toe-to-toe with their industry peers with respect to the share generating $500,000+ in revenues.
With our most recent installment in the series, The 2013 State of Women-Owned Businesses Report: A Summary of Important Trends, 1997-2013, we again provide women business owners and their associations, supporters of women’s business development and other stakeholders with the most comprehensive review and analysis of the current health and well-being of women-owned firms in the United States – as well as in all 50 states and the 25 most populous metropolitan areas. Further, the report expands its focus this year to look at the phenomenal growth of firms owned by women of color.
Among this year’s key findings are:
- As of 2013, it is estimated that there are over 8.6 million women-owned businesses in the United States, generating over $1.3 trillion in revenues and employing nearly 7.8 million people. The growth in the number, revenues and employment of women-owned firms over the past 16 years exceeds the growth rates of all but the very largest, publicly-traded corporations in the country;
- Indeed, when looking specifically at the 2007-2013 period – since just before the start of the recent recession – the net increase of 5.3 million jobs economy-wide has come almost entirely from very large public corporations … AND women-owned firms. During the past six years, employment in women-owned and equally-owned firms has fallen;
- The states in which growth in the number, employment and revenues of women-owned firms has been the strongest since 1997 are the District of Columbia, North Dakota, Nevada, Wyoming and Georgia. San Antonio TX, Portland OR, Houston TX, Riverside CA, and Washington DC/MD/VA are the fastest-growing metro areas for women-owned businesses;
- In 1997, there were just under 1 million (929,445) firms owned by women of color, accounting for one in six (17%) women-owned firms. That number has skyrocketed to an estimated 2,677,700 as of 2013, and now comprises one in three (31%) women-owned firms;
- While firms owned by women of color are smaller than non-minority women-owned businesses both in terms of average employment and revenues, their growth in number and economic clout is generally far outpacing that of all women-owned firms. Indeed, the growth in the number of African American (up 258% from 1997 to 2013), Asian American (+156%), Latina (+180%), Native American/ Alaska Native (108%), and Native Hawaiian/Pacific Islander (+216%) women-owned firms all top the growth in the number of non-minority women-owned firms (+32%) over the past 16 years.
You may download and read the complete 71-page report by visiting openforum.com/womensbusinessreport or clicking on the link above. You may also wish to download and read the news release for the report.
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Leaning in: It began, perhaps, with Facebook COO Sheryl Sandberg’s December 2010 TEDWomen talk on why there are so few women leaders (which has now garnered 2.1 million views on TED.com and YouTube). Her ideas were further refined in her May 2011 commencement speech at Barnard College, and have now been expanded and formalized into a new book, Lean in: Women, Work and the Will to Lead, which is – in true social media fashion – feeding into the launch of a web-based community, leanin.org.
All of these missives revolve around Sandberg’s view that too many women shy away from stepping up to the plate at the workplace, muffling their own ambitions and thereby short-changing their careers. On the face of it, not too controversial, but my, oh my what a firestorm of responses her views have sparked! Womenable pointed to the juxtaposition of the TEDWomen talk and Anne-Marie Slaughter’s counterpoint piece in the July/August 2012 issue of the Atlantic, Why Women Still Can’t Have it All, as one of the top womenabling news and events of 2012.
The well-orchestrated March 11th publication of Sandberg’s book has been met with a firestorm of commentary, however, not all of it positive. Here’s just a selection of related op-eds and direct commentary and coverage:
- An op-ed in the New York Times by former Lehman Brothers CFO Erin Callan entitled, “Is There Life After Work?,” on the perils of leaning in all the way;
- Selected reviews of the book, including: “Do As I Do, Not as I Say” in the Wall Street Journal, a cut-to-the-quick review in the UK’s The Guardian, and a review of the reviews on allvoices.com;
- “Waiting for Superwoman” in Bloomberg Businessweek (longer article in the print magazine);
- Commentary in the Wall Street Journal, “The Real Women’s Issue: Time,” subtitled “Never mind leaning in. To get more working women into senior roles, companies need to rethink the clock”
- A TIME cover story on Sandberg, “Don’t Hate Her Because She’s Successful“;
- a counterpoint to the TIME cover story on ForbesWoman, “Tip to TIME: Women Don’t ‘Hate’ Sheryl Sandberg Because She’s Successful“; and
- Sandberg’s reaction to all of the controversy in an AP story, and an interview with her in Harvard Business Review.
What is our view on all of this? Well, we have a few thoughts and reactions to this recent firestorm:
- This is a very western, industrialized economy conversation. In nearly 3/4 of countries around the world (specifically 141 economies investigated by the World Bank in their Women, Business and the Law report), women are at a legal disadvantage compared to men in one or more areas – so no matter how hard they lean in, they may not achieve equality of opportunity;
- The “lean in” exhortation ignores the double standard to which many women in the workplace are held. Frequently, exhibiting ambition and leaning in are met with resistance, undercutting, and being labeled a “rhymes with witch;” and
- This discussion is very much taking place in a corporate environment. In particular, it ignores the fact that many women (perhaps after leaning in to no avail) are taking their futures in their own hands, and are starting their own businesses. (Of course, in our entrepreneurial world, there is a similar conversation about why more women business owners are not scaling the heights of entrepreneurial success.)
All that said, of course, what may be the most important point is that, by circling our feminist wagons and shooting down a message and point of view from an important and visible woman business leader, we may damage our collective cause. After all, as pointedly observed by former US Secretary of State Madeline Albright, “There is a special place in hell for women who don’t help other women.”
So here’s what we say: all views are welcome, and many strategies are needed. We not only need to lean in, we need to push back, raise voices, change laws and change minds to advance the cause of equality of opportunity for all.
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The 2012 Global Entrepreneurship Monitor was recently unveiled at an event in Kuala Lumpur, Malaysia (ranked 12th in the world on the ease of doing business in the World Bank’s Doing Business rankings).
This is the 14th year for the unique and impactful international effort. Starting in 1999 with 10 countries, the GEM collaboration now includes 69 world economies accounting for 87% of global GDP.
Of special interest to we womenablers, of course, is the ongoing accounting of the continuing gap in the share of adult females starting and growing businesses compared to their male counterparts. In nearly every region of the world, women are less likely to be starting new enterprises or to own established businesses.
The new report, however, indicates that the gender gap in business ownership has virtually disappeared in sub-Saharan Africa. The gap is widest in the Middle East and North Africa, where men are 2.8 times as likely as women to own a business.
Conversely, according to the new report, there are five countries in which entrepreneurship rates among women are actually higher than among men: Ecuador, Ghana, Nigeria, Panama, and Thailand.
To learn more about the report GEM and this latest effort, read the recent news release, visit the GEM website, or download the report.
Finally, check out the series of special reports on women and entrepreneurship, the most recent of which was published in 2011.
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Posted in business, political advocacy, women's business development, women's business ownership, women's enterprise development, women's business research studies, women-owned business, tagged NWBC, women's business development, women's empowerment, women's enterprise, women's entrepreneurship, women-owned business on January 3, 2013 |
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The annual report from the National Women’s Business Council was issued just before the end of the year, and not only contains an abundance of statistics but a succinct set of policy recommendations, in keeping with their mandate to represent the interests of women business owners and their enterprises in federal policy-making circles.
Perhaps the most important text in the report, however, is the description of how the Council has changed its operating procedures to ensure greater continuity of operations, and their recommendations for more active engagement with respect to member nominations and closer monitoring of council member terms. Making these changes would prevent what has happened all too frequently over the past decade – the expiration of a majority of member terms at or near the same time, with a corresponding lag in re-nominations, leading to long periods of inactivity by the Council. This serves no one – not federal policymakers and certainly not the women’s business community. Improving this situation could be the best thing that the NWBC has done in a long time!
To read and download the 2012 NWBC annual report, click on THIS LINK.
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Posted in business, women business owners, women's business ownership, women's enterprise development, women-owned business, tagged gender equality, Julie Weeks, top ten list, women's business development, women's enterprise, women's entrepreneurship, women-owned business, Womenable on December 26, 2012 |
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For the fourth straight year, we devoted our end of year e-newsletter to a review of the most noteworthy womenabling events of 2012. Just in case you don’t subscribe to our quarterly e-news (CLICK HERE if you’d like to do so), we’ve repeated here our list – in no particular order – of the ten most important research reports, events, and emerging trends of the year:
- Numbers go visual: There’s been quite an increase in the use of infographics to share data and research in a visual way. We’re proud that our 2012 report on The State of Women-Owned Businesses has been named by PR Week as a finalist in the ‘Best Use of Analytics’ category. The communications this year included a large social media campaign, including infographics. Here are some of Womenable’s favorite infographics, on a Pinterest board.
- Data portals: There’s been a great leap forward this year in the aggregation of research information on women’s economic empowerment. Most particularly, the World Bank this year launched a Gender Data Portal, which grants widespread access to a plethora of statistics, including the ability to compare countries and regions, as well as to look at trends in a number of measures over time. It’s nirvana for womenablers everywhere!
- Data at hand: Speaking of data nirvana, there are now a number of smartphone apps that can place statistical information literally at your fingertips. Check out the US Census Bureau’s America’s Economy app, the World Bank’s Data Finder app, and the visually-appealing Women of the World iPad optimized e-book from Fotopedia and the World Bank. (Another great e-book, which we mentioned in last year’s list, is the World Bank’s 2012 World Development Report, Gender Equality and Development.)
- Telling stories: Even those of us who are quantitatively focused recognize the value of personalizing research, and using profiles and stories to impart knowledge, stir emotions, and spur action. There’s a new player in this space, who’s building a fabulous community of womenabling stories, The Story Exchange. Check them out – and also learn more about their 1,000 Stories initiative. Here’s one of my favorite stories from their website of high-quality video vignettes:
- The “Having It All” myth re-exposed: In late 2010, Facebook’s COO Sheryl Sandberg made a splash with a TEDWomen speech during which she essentially told women to “man up” (my paraphrasing) if they wanted to get ahead. The YouTube video of her remarks has gotten nearly 2 million views. (Not as many as Gangnam Style, but pretty high for something related to women’s empowerment!) An equally big, if not bigger, splash was made this year by Ann-Marie Slaughter, Princeton professor and former senior official in the U.S. State Department, in a July cover story in the Atlantic magazine, “Why Women Still Can’t Have It All,” exploring the family pressures that led to her departure from the federal government. It lit up the blogosphere, and certainly showed that, while women have made a lot of progress, it’s not been without sacrifice and there are a lot of heated opinions on the many facets of this issue.
- Making headway in high tech?: Speaking of Sheryl Sandberg, the topic of women in tech has a similar “push me-pull you” dialogue going on about how to get more women in STEM fields. Do they just need to toughen up and push ahead, or should existing paradigms be shifted to be more accepting to the differing leadership styles and professional goals of women in the field? Modeling the former modus operandi is new Yahoo CEO Marissa Meyer – who caused a kerfuffle when revealing her pregnancy shortly after taking the helm, but getting right back to business soon after giving birth. Taking a different tack is Harvey Mudd College president Maria Klawe, who has singlehandedly changed the environment – and increased the success – of female engineering and technology students on campus. So, too, new social networks such as Girls Who Code and Girl Geeks chart a different path by creating a collegial environment for women in a still very male-dominated field. It remains to be seen which approach will lead to greater success, but perhaps you can guess which side we come down on!
- Increased focus on access to markets: Last year, we pointed out that an increasing number of corporations are investing in the development of women’s business enterprises as suppliers – shifting their emphasis from “corporate social responsibility” to “value chain development.” International trade is an important element of market access, and a valuable link in this value chain is the International Trade Centre’s Access! initiative for women business owners in Africa, and their Global Platform for Action on Sourcing from Women Vendors – which included a trade exhibition and forum in Mexico City just last month. In addition, the 2nd quarter 2012 issue of their Trade Forum magazine, Empowering Women, Empowering Trade, focused entirely on access to trade issues for women-owned enterprises.
- Gender equality – continued Nordic dominance: For the past seven years, the World Economic Forum has released a Global Gender Gap Report. While some nations rise and fall in this global ranking of gender equality in the areas of health, education, political leadership and economic participation, one region has dominated the rankings since the beginning – the Nordic economies of Iceland, Norway, Finland and Sweden. Read more about the trends and download the current and previous reports at THIS LINK.
- Increasing the robustness of indices and lists: While the Global Gender Gap Report remains an important source of data on gender equality, its rankings are based on relatively few variables, none of which include business ownership or self-employment. There are now other players in the game, increasing the robustness of global rankings. First, the OECD has updated and expanded its Social Institutions and Gender Index (SIGI), which evaluates 100 economies on a number of measures that impact gender equality. The variables included in the rankings include existence of domestic violence legislation, women’s mobility and discriminatory inheritance practices – highlighting the sometimes hidden ways that inequality is perpetuated. Secondly, the Economist Intelligence Unit, author of the Women’s Economic Opportunity Index, is partnering with the Inter-American Development Bank’s Multilateral Investment Fund (IDB-MIF) to produce WEVentureScope, an analysis of environmental factors that make it easy – or more difficult – for women to start and grow businesses. This soon-to-come index will finally add women’s entrepreneurship into a country ranking equation – at least for Latin America and the Caribbean. Viva!
- Recognizing the contributions of unsung heroines: Most business awards and lists focus on economic impact – who generates the highest revenues, employs the most workers, or has grown the fastest in either or both of those areas over a period of time. The International Alliance for Women has done things a little differently, and we think that’s all to the good. For the past five years, their World of Difference Awards have focused on recognizing women entrepreneurs and entrepreneurial enablers who are making a difference to the triple bottom line – largely without fanfare. We need more of this, so we’re adding it to our Top Ten list to shine a light on this approach, and perhaps to plant a seed for others to follow!
And, just for good measure, here are links to some other Top Ten lists you might be interested in:
Did we miss any critical items? Think we’re off the mark on any of the above? Let us know! Curious to compare this list with our previous Top Ten lists? Click on the following links to read our Top Ten womenabling events of 2011, 2010, and 2009.
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