Archive for June, 2015

Accept and Deal With Challenges: Global Success Will Come Your Way

Screenshot:  Linda Bi, President, Chicago Expert Importers

Screenshot: Linda Bi, President, Chicago Expert Importers

It’s clear that thanks to technology and the Internet, all businesses are becoming global.  That’s what Linda Bi, President of Chicago Expert Importers (CEI) says in the Chicago Sun-Times article (6/28/15).  CEI is a top importer of casting components in the mobile home/RV axle manufacturing industry. Over the years, Bi expanded the business into areas including, but not limited to: sporting goods and forklift- and school-bus components, to importing parts to also providing sourcing, logistics and warehousing and distribution, leading the 17-employee company to $40 million in yearly revenue — a sixfold increase from where it stood when Bi’s husband died 15 years ago.  Bi’s tip for success:  “Accept and deal with the challenges.”

Screenshot:  Shea Soucie, co-owner of Soucie Horner, Ltd. (Chicago)

Screenshot: Shea Soucie, co-owner of Soucie Horner, Ltd. (Chicago)

Shea Soucie is another prime example of women leading the charge in global trade.  Soucie is co-owner of the custom residential design firm Soucie Horner, Ltd., at 208 W. Kinzie St. in River North (Chicago), started a new business, SHIIR to import fine rugs and decorative carpets and sell them across the country and worldwide.  The company started exporting in 2013 to specific clients, such as a hotel in Delhi, India, and a super-yacht that travels the world.  Soucie’s tip for success:  “Look for female mentors in groups like the Women Presidents’ Organization — womenpresidentsorg.com.”

In the same Chicago Sun-Times article, WEGG is mentioned:

Only 12 percent of businesses that export are owned by women, which shows there’s room for growth, says Laurel Delaney, Executive Director of Women Entrepreneurs GROW Global, a new nonprofit organization that aims to boost the number of women business owners in exporting.

Read the entire article:  Women At Work:  ‘All Business Becoming Global,’ Chicago Importer Says

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Promoting the Spirit of Enterprise and Women Entrepreneurs

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Saudi Arabia-based King Khalid Foundation and TRACCS signed a strategic partnership agreement to launch the Jeddah Entrepreneurship Meet and Competition. The competition opens doors for all budding entrepreneurs to present their ideas or existing business modules to be eligible for its mentorship and funding program.

The Jeddah Entrepreneurs Meet and Competition is an entrepreneurial development and sustainability promoting platform open for women across the Kingdom of Saudi Arabia to present innovative business ideas or existing businesses within three categories: social entrepreneurship, manufacturing and production and educational and lifestyle development.

Apply online here.  Learn more here.

Women Entrepreneurs: Be Bold, Be Brave, Fail Fast and Move On

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In Australia’s startup ecosystem, only 4.3% of startups are owned by women. Despite the fact that companies owned by women bring in 12% higher revenue on average, only 3-5% of female owned businesses receive venture capital.

What’s the reason for Aussie women not pursuing high-growth companies at an equal rate as their male counterparts?  StartUp Victoria’s (Twitter handle here) Female Founders’ committee member Richenda Vermeulen shares her take on the most popular reasons below.

Her first is to be bold and brave but I added fail fast and move on because without failure, you most likely are not taking risks or innovating.  When you trip up, you recover, learn your lesson and move on without missing a beat.

Are Female Entrepreneurs Set Up to Fail?

Women and Global Trade

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The Obama Administration is committed to boosting global trade for women entrepreneurs and business owners.  They also want to create new export opportunities for them.  Here’s why:

  • Pay more. Average pay at women-owned exporters is approximately 1.6 times higher than average pay at non-exporting female-owned businesses. This “exporter premium”—the amount by which exporters pay more than non-exporters—is larger than the equivalent premium for male-owned businesses, suggesting that increasing export participation by women-owned businesses may be one route to higher middle-class incomes.
  • More productive. Women-owned businesses that export are, on average, over 3.5 times more productive than women-owned businesses that do not export. In addition, women-owned exporters are also about 1.2 times more productive on average than male-owned exporters.
  • Hire more. Women-owned businesses that export employ an average of 42 people, compared to just 8 employees on average at their non-exporting counterparts.
  • Earn more. Women-owned businesses that export report average sales of $16.3 million, compared to $816,000 in average sales for women-owned businesses that do not export.

WEGG will play a major role in raising the number of women exporters.

To learn more about the Obama Administration’s mission to encourage women to participate in the U.S. and global economy, visit:  Women and Trade


WEGG Mission

Our mission is to educate women business owners and entrepreneurs worldwide on how to go global so they can run healthier businesses and create a new future for themselves, their families and their community.

Women Entrepreneurs GROW Global is a 501(c)3 nonprofit organization. EIN/Tax ID #47-2956522.
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