Though certain pockets of the country have higher levels of female entrepreneurship than others, research by the Center for Women in Business and supported by the U.S. Chamber of Commerce Foundation shows that any community with determination can build a supportive network for its local women-owned businesses. Women are working tirelessly to export, create jobs, solve problems, and strengthen America’s long-term competitiveness. It is clear that when communities help women in business succeed, they ultimately help America succeed as well.
It is no surprise then that the face of entrepreneurship is changing:
Over the last 15 years, women-owned firms have grown by one and a half times the rate of other small enterprises and now account for almost 30 percent of all businesses. Additionally, one in five firms with revenue of $1 million or more is woman-owned.
Further, as women-owned and women-led enterprises scale up their businesses, they will ultimately serve national and international markets in unique and groundbreaking ways. WEGG will play a key role in helping women grow globally.
Read the report … Women-Owned Businesses Carving a New American Business Landscape
Screenshot courtesy: Women-Owned Businesses report
Sydney network Heads Over Heels is designed to rival “the boys club.”
Every few months, 70 high-powered executives meet for Heads Over Heels. They listen to business pitches from female entrepreneurs, then break into small, revolving “huddles,” where the women “call out” for customers, money or advice.
What are the results?
- StorReduce co-founder Vanessa Wilson raised $400,000 in seed funding.
- Event software company Ivvy raised $1 million.
- Enabled Employment raised close to $400,000 in seed funding.
Are you ready to grow? Then reach out to Heads Over Heels. Learn more.
Screenshot courtesy: Heads Over Heels
Women can compete globally on any level without losing their femininity. Yet, according to The Namibia Econonomist, women tend to differ from men on their management style in the following positive ways. Note: Many of these traits might also apply to men.
- Multi-tasking — comes in handy in the early stages of growing a business.
- Focus — the ability to cut out distractions and focus on what is important.
- Intuition is the undefinable, immeasurable sense that helps with decision making and women tend to listen theirs more often.
- Prudence is a characteristic not normally associated with entrepreneurship yet it is vital in the early stages of entrepreneurship, especially for women.
- Cautiousness — women tend to be more careful in business than men and respect the importance of getting the balance right between overt risk-taking and caution.
- Patience is linked to the trait of prudence and very helpful to have when the going gets tough.
- Empathy — women are known to have higher levels of empathy than men.
- Asking for advice — women have no issue with this, especially if they can get answers.
Read other attributes that women have in business:
Learning from Female Entrepreneurs
One final point: In order to gain self-confidence and overcome social attitudes, women need to network continuously, support each other, look for role models, update their knowledge and skills, and have a clear vision of what they wish to accomplish.
Photo Credit: Silicon Valley Blog
What’s Woman 20? Let’s not jump too fast. Turkey’s Deputy Prime Minister said recently that the G20, currently led by Turkey, would not get involved in Greece’s debt crisis without a request from the European Union, European Central Bank and International Monetary Fund. However, what has been identified are policies to implement that were adopted during previous G20 meetings, including small and medium entrepreneurs, or SMEs, women and youth.
“Under the inclusiveness agenda we have also announced a new engagement group, W20 or Woman 20,” he said. “This will be representatives from 19 countries and the EU working on how to effectively engage women into business covering women entrepreneurs.”
Read more: G20 staying out of Greek debt crisis, says Turkey’s Babacan, April 18, 2015
Screenshot courtesy: Worldbulletin News
She Taxis (ST) is a cab service for women travelers operated by women entrepreneurs in Thiruvananthapuram, Kochi and Kozhikode. The World Bank has shown interest in replicating the ST initiative in South Asian countries like Pakistan, Bhutan, Nepal and Bangladesh.
Watch out Uber. She Taxies is driving an empowering movement for women.
Women make up 60% of the riders but only 2% of the drivers. She Taxis is going to fix that.
Learn more here.
Screenshot courtesy of She Taxis
In the blue (ocean) economy, women are riding the wave of Africa’s maritime sector. Women have an unrivaled opportunity to drive the industrialization of Africa’s oceans, according to Nkosazana Dlamini-Zuma, the African Union chairwoman of the 54-member African Union.
“Women have come together and … those who work in the industry … want to see how they can be entrepreneurs in the industry,” says Dlamini-Zuma.
Learn more: Why women must ride the wave of Africa’s maritime sector
Photo Credit: mattk1979
Jayne Graham, who came up with the idea of Colleagues on Tap (COT) five years ago after working at home herself for many years, sold her business to concentrate on her coaching and consultancy practice, 20:20 Consulting. Durham-born entrepreneur Jo Cameron purchased COT from Graham and has ambitious plans to grow the company exponentially both in the UK and abroad.
COT helps home-based small business owners come together on a regular basis in an office environment for the day. Once there, they are able to share experiences, peer mentor one another and combat the isolation of working alone.
“Once you look abroad it becomes a mind-blowing opportunity which is my ultimate aim. I [Graham] have strong links in Australia and America and this is an export opportunity I am eager to take to those countries.”
Read more: Colleagues on Tap Set for International Expansion Thanks to Durham Entrepreneur
Photo courtesy: Colleagues on Tap
We are excited to learn that the National Women’s Business Council (NWBC) is working on an extensive study, “Women’s Participation in Exporting,” which will:
Initiate the creation of a dataset similar to the data analyzed by Barbara Orser in her 2011 paper in the 2015 fiscal year. The SBA Office of Advocacy has expressed interest as well; together, the NWBC and the Office of Advocacy have opened discussions with Census about “contracting” this research to their office. A report analyzing the data would potentially commence in FY2016.
Together with NWBC, we know that encouraging women-owned, women-led firms to internationalize represents an economic development opportunity.
Without accurate information about the influence of gender, opportunities for growth and international trade may not realize their full potential, possibly leading to sub-optimal economic welfare.
We look forward to working with the NWBC to help make this project a success and will share with all of you progress updates as they become available.
Screenshot courtesy: Canadian Women Entrepreneurs, Research and Public Policy: A Review of Literature