Archive for the 'Equality' Category

Why Women Don’t Start Businesses and How wegg® Can Help

In 2019, wegg® wants to help all women entrepreneurs, from the seasoned to the aspiring, achieve their business ambitions. We can help you go global, and assist with the obstacles that usually prevent women from reaching their full business potential.

What are some of the barriers women face when trying to start an entrepreneurial career, that wegg® aims to alleviate? Glad you asked.

In a recent report from The Economic Times, a group of women in India were polled on the reasons that they are not able to start their own independent businesses. The Times states,

“Of the homemakers who aspire to start their own business or pursue a hobby to make money, 69 per cent said the greatest barrier was lack of sufficient funds, 63 per cent said home responsibilities took up most of their time, 39 per cent said it was lack of guidance and 36 per cent reported that it was a lack in confidence.”

When the women were asked about what kinds of solutions would aid them in overcoming the aforementioned obstacles, the results were,

“62 per cent said it was financial/funding support, while 51 per cent said they needed self-confidence or counseling the most.”

Enter wegg®. We provide FREE monthly webinars that cover a varying array of topics. At these events, “wegginars®,” we have an entrepreneurial expert present on a business subject of their choice, combined with a participant Q&A. Anyone around the world can participate in these accessible events, and all at no charge. Get a head start on your resolutions this year, and let wegg® help you take your business to new heights.

Registration is open and free for Laurel Delaney’s 1/9 talk. She will present her annual global trade trends report 2019.  Join us. Register here.

Teach a Woman to Fish & Go Global, and You’ll Feed Her & Her Business for a Lifetime

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Everyone knows the classic adage, “Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime.”

But wegg® knows, “Give a woman a fish, and you feed her for a day. Teach a woman to fish and go global, and you feed her and her business for a lifetime.” This idea is the essence of wegg®’s mission: “to educate, inspire and nurture 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.”

Our goal as a 501(c)(3) nonprofit organization is to teach the women entrepreneurs of the world how to take their businesses global, and we are always thrilled to hear about the triumphs of women entrepreneurs around the world. Recently, we read a New York Times article covering the reform of Rwanda’s fishing industry, from an exclusively male world, to a community of women entrepreneurs. Author Shannon Sims describes the change,

“The intense physical work and danger that comes with fishing on Lake Kivu, along with reinforcement from traditional gender roles, kept women from fishing for generations, tending to backyard farms instead. But in post-genocide Rwanda, that seems to be changing. Today, women form an essential part of the national market for Lake Kivu fish. Besides fishing on the lake at night, women also gather along the shores in the early morning to buy the fish the fisherwomen deliver. They then haul those fish home to their small villages, or sell the fish to cooperatives.”

This newfound emphasis of women on the business side of Rwanda’s fish economy has inspired the development of Projet Pêche, a fishing cooperative made up of 87 women, in Kibuye, a town along the banks of Lake Kivu. This collective has had a supremely positive impact on the lives of Rwandan women. Just listen to one woman, Bonifrida Mukabideri’s, account,

“A lot of women have used the cooperatives to fight poverty. Here in Rwanda we now have the idea that women and men can do every job…Now a woman can say: ‘I can build a house by myself. I can look after my family properly. And even if my husband dies, we can live a better life.’”

wegg® would love to help global women entrepreneurs like Mukabideri feed themselves, their families, and their communities for a lifetime…by fostering an expanding global business that thrives for generations. For more information on the resources wegg® has to offer women entrepreneurs, check out our education page.

 

Understanding Diversity Among Hispanic Women Entrepreneurs

According to Susana Martinez-Restrepo, PhD., CoreWoman and Geri Stengel, Ventureneer, authors of Hispanic Women Entrepreneurship: Understanding Diversity Among Hispanic Women Entrepreneurs,” the number of Hispanic women-owned businesses is growing at a higher rate than businesses owned by other groups, including non-Hispanic White women and men.

However, businesses owned by women, especially Hispanic women, are underrepresented and dramatically lag behind men-owned businesses in several key business productivity measurements: amount of revenue, having employees and number of employees.

To help Hispanic women-owned businesses prosper, the authors propose the following.

  • Increase Funding to Women’s Business Centers
  • Elevate Awareness of Training and Support Hispanic Women Need
  • Enlarge and Make Permanent the New Markets Tax Credit
  • Lift or Raise Cap on SBA-backed Loans
  • Invest Federal Agency Pension Funds in Emerging Managers

To read the entire report, visit here.

Registration is open and free for our 12/5 talk with Andrew Molinsky, Ph.D. He will talk about how, “if you are not outside your comfort zone, you won’t learn anything.” Register here.

Show Me the Data Supporting Women in Trade!

Panelists at the recent World Trade Organization’s Public Forum event in Geneva, chaired by UNCTAD Deputy Secretary-General Isabelle Durant, asked which data were necessary for formulating gender-responsive trade policies and how to improve their availability.

Analysis of global value chains – the complex international supply and manufacturing chains along which modern goods pass – can show the important part played by women in global trade but which is missed by trade statistics alone.

“A way to solve this would be to establish a link between exporting firms and their employees to enable better analysis of gender roles across the whole value chain over time,” Nadim Ahmad, chief of the Trade and Competitiveness Statistics Division at the Organisation for Economic Co-operation and Development, said. “In the absence of this, collaboration with the private sector presents opportunities for filling data gaps.”

With the work that wegg® does, we would be pleased to collaborate with UNCTAD to ensure that no woman is left behind on opportunities for exporting and expanding a business globally.  We are also happy to work with the World Trade Organization to craft a policy whereby we offer sustainable trade, technology-enabled trade, and a more inclusive trading system.

Read the entire article about women-supporting trade policies need better data, experts say.  wegg agrees.

wegg® keeps energizing women entrepreneurs the world over. We can help you build confidence, find great resources and show you the steps you can take to go global. Join us for our FREE wegginar® on 11/7 with Cristina Bandal. You can find all of the details, and register for the event, here.

Girlboss to Launch New Social Network for Young Women Entrepreneurs

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A recent Wall Street Journal article reports that, “Girlboss, a media company targeting women entrepreneurs, plans to introduce a paid, professional social-networking site called Girlboss Collective in January.” This new platform will be structured for the ever evolving career paths of millennial women, with profiles highlighting users’ character as opposed to work experience.

GirlBoss Collective will, “fit the professional networking needs of young women, many of whom have multiple part-time jobs or career gaps that look out of place on a traditional résumé. Girlboss Collective is being designed with women in mind, although it will be open to people of any gender, the company said.”

Membership for the site will reportedly be less than $15 a month, and users will have access to video footage of notable female speakers in high offices of various industries.

The WSJ article goes on to detail,

“Ms. Amoruso envisions a community of subscribers helping one another on professional matters both trivial and large, from negotiating raises to finding an intellectual property attorney in their area….Girlboss has prototyped the concept of its private social network with a Facebook group called “Girlboss Gang” that has more than 5,700 members, Ms. Amoruso added. She said more than 15,000 users are already on a wait list to join Girlboss Collective, which will be an invite-only, U.S.-based network in its testing phase.”

Everyone here at wegg® is excited by the mission of Girlboss Collective, and we hope to partner with Amoruso and her company in the future. wegg® knows that the key to female entrepreneurial success is connecting with each other, to build an unstoppable global network.

wegg® keeps energizing women entrepreneurs the world over. We can help you build confidence, find great resources and show you the steps you can take to go global. Join us for our FREE wegginar® on 11/7 with Cristina Bandal. You can find all of the details, and register for the event, here.

Female Entrepreneurs Are the Engine of Global Growth

Bonnie Chui, contributor for Forbes, writes a thoughtful piece about how female entrepreneurs are going global and that new policy attention may close the gap. At wegg®, we are closing that gap — whether there is new policy attention or not.

We not only serve women entrepreneurs by educating them on how to go global, we are women entrepreneurs, and through our educational efforts, we continue to energize economies worldwide.

Further, based on my experience running a successful global business and serving as a consultant to countless global women business owners, my observations indicate that women entrepreneurs must condition themselves to be risk oriented, innovative, and proactive (RIP) in order to achieve any reasonable level of success in the export marketplace.

Like everyone else, they must also achieve five things before venturing out beyond borders:

  1. Becoming ready mentally, particularly emotionally
  2. Being ready operationally
  3. Having run a successful local business
  4. Knowing how to use the latest technology
  5. Having a business with export potential.

Also, in my view, a perceived lack of credibility is the number one barrier for women doing business globally. This perceived deficiency lack makes it difficult for women to access markets, market information, and establish relationships. If you don’t already have an influential person in your life who can tout your capabilities, find one and cultivate the relationship, or just reach out to wegg.

Most of the above referenced facts are covered in my Exporting:  The Definitive Guide to Selling Abroad Profitably, Chapter 27, “Women Business Owners: Engine of Global Growth.”

Let’s face it, women launch businesses for the same reasons men do — to build wealth, to capitalize on their ideas and to be their own bosses.

Oftentimes you must learn about starting a business and taking it global the hard way — by doing it — and getting assistance from programs such as wegg’s helps enormously.

Female entrepreneurs are the engine of global growth and with appropriate support, will conquer the world.  Just you watch.

wegg® keeps energizing women entrepreneurs the world over. We can help you build confidence, find great resources and show you the steps you can take to go global. Join us for our FREE wegginar® on 11/7 with Cristina Bandal. You can find all of the details, and register for the event, here.

The Rise of Women ‘Millennipreneurs’

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The Female Entrepreneurs Institute has reported that there is a new generation of wildly successful business owners, who are all under thirty-five years of age. The ‘millennipreneur’ model of business has proven to be advantageous worldwide. The Institute explains,

“[This new] approach to business differs from that of their elders in terms of their ambitions, results and leadership style. Among the successful business owning millennials studied in this research, some 78% come from families with a history of running their own businesses. As a group, each has already established on average 7.7 companies, compared with an average of 3.5 among the 50-and-over Baby Boomers.”

A contemporary and forward-thinking entrepreneurship can be seen in this new generation’s most lucrative areas of business. The top three sectors of wealth for millennipreneurs were listed as: retail (12.5%), professional services (8.5%), and technology (7.3%).

This new generation of business owners has paved a way for women business owners, specifically. The proof is in the numbers…

“89% of women entrepreneurs surveyed expecting growing or stable profits in the next 12 months. Female millennipreneurs are aiming even higher with close to 75% expecting business profits to increase in the next 12 months…”

wegg® knows that the future of entrepreneurship is women entrepreneurship. We can help you start your business, or show you the steps you can take to go global. Join us for our FREE wegginar® on 10/3 with Katie Kollhoff, founder and CEO, NUMiX. You can find all of the details, and register for the event, here.

President and CEO Julie Smolyansky on “Following Your Gut”

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This past Wednesday September 12th, President and CEO of Lifeway Kefir, Julie Smolyansky lead a wegg® workshop about the importance of following your gut on business and personal endeavors. Her inspiring talk covered the journey of Lifeway beginning in her parent’s basement, in the mid-eighties, when they began making Kefir, a food inspired by their home country, the former Soviet Union.  It is now a $120 million publicly-traded company, thanks to Julie. She grew Lifeway to the size it is now, without a business degree, and became CEO at age 27, when her father suddenly passed away. Smolyansky shared the story of how one of her father’s friends reacted when he died and she was made CEO…

“[He said] ‘forget it, the company is done. Sell all of your stock tomorrow. There’s no way a 27 year old girl could run a company.’ This is done. Lifeway is over…I go into the office Monday morning…and everyone had sold their stock….It was devastating…[I] picked my head up and moved forward. Then, we had 70 people, today we have 320. We’ve grown our business from 12 million to 120 million…We continued to execute on the strategy we believed in, and continued to follow our gut, and worked really really hard….That man who said ‘she’s never gonna do it,’…I literally think about him every day. I say ‘thank you’, ‘thank you so much for underestimating me, for pissing me off, and making me angry…You gave me the fuel to move forward.”

Smolyansky went on to describe how being a young CEO became a strength for her. She followed her gut and made Lifeway one of the first businesses ever to have an active social media presence. She explained, “We were ahead of the game…Vogue called us ‘avant garde’ for being on social media.”

She also shared her beliefs on the importance of female entrepreneurship,

“If women were employed at the same rates as men, we know the global GDP would rise exponentially…That I think is really important. A rising tide raises all ships, and when women create jobs, an entire community is more safe and stable….Women are the key to saving the world…Entrepreneurship…can heal the world.”

Other inspiring takeaways from Smolyansky’s talk…

  • Keep moving ahead no matter what your challenges are in life.
  • Make a big impact:  it only takes one person one step at a time to change the world.
  • Follow your gut (we should all listen to our intuition on important matters in life).

Thank you to Julie, and her team, Justine and Maria, for making our on-the-ground wegg® workshop a success.  And thank you to Bank of America, Moji Eagan and Aneta Mazur, for hosting us.

If you were not able to make this wegg® workshop, we are having a wegginar® on Wednesday, October 3rd with Katie Kollhoff, CEO, NUMIX.  She’ll present on “Small Startup, Big Impact.”  Thanks to our sponsors, IBM, UPS, Bank of America and GlobalCare Clinical Trials, the program is no charge but you must register to attend, here.


wegg® Mission

Our mission is to educate, inspire and nurture 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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