UPWARD TREND IN WOMEN'S ENTREPRENEURIAL ENTERPRISES - TNNWC MEDIA
Dear Colleagues, Members and Readers:
In case you missed the recent proclamation in BLOOMBERG NEWS about the upward trend in women entrepreneurs and the growing dominance and success of their enterprises, the story is reprinted for your convenience below. This should, however, come as no surprise to you at all if you've been reading any of the TNNWC GROUP's publications: We have been reporting this trend for several years now -- it comes as no surprise. We are honored to proactively promote, support and provide special services to women's enterprises, as we have for several years already. For female entrepreneurs, there is no "glass ceiling" -- the sky is the limit. Ladies...start your engines! Gentlemen, tip your fedoras and open the doors!Faithfully,
Douglas Castle, CEO, TNNWC GROUP, LLC (http://www.tnnwc.com)
p.s. In case you're interested, my very own mother happens to be a woman. Sometimes, she is hesitant to admit to being my mother -- but she is never the slightest bit vague about her womanliness. Those stories about my having been created by some obscure but powerful agency of the US military during the Vietnam era are just hokum...or at least, they are untrue to a large extent.
p.p.s. Make it your business to Google some of these amazing businesspersons of the gentler gender: Bonnie Ross-Parker, Rhonda L. Sher, Joyanne Sloan, Sandra Levitin ("Get Your Big Girl Panties On"), Rosanne D'Ausilio, Ann B. Sloan, and Penny Ng. Go ahead, Google each of them ... you'll learn something, and you'll show your support, too! Invite them to network with you on LinkedIn (if you're not a LinkedIn member, join by going to http://www.linkedin.com/.
Women-Owned Businesses `Steadily Expanding' in U.S., Commerce Study Finds
By Alex Kowalski - Oct 7, 2010
Private businesses owned by women have grown in number and hired more workers than male-owned businesses, according to the latest U.S. Department of Commerce survey to track such data. The report also found such firms lag behind male-owned businesses in financial capital, revenue and salaries.
The number of companies owned by women grew by 44 percent to 7.8 million from 1977 to 2007, compared with a 22 percent increase in firms owned by men, the Commerce Department report found. Male-owned firms in 2007 totaled 13.9 million.
“Women-Owned Businesses in the 21st Century,” also found women in business added 500,000 workers to their payrolls while firms owned by men shed almost 2 million jobs during the period. As of 2007, the latest year that full U.S. Census Bureau data was available, women-owned businesses employed 7.6 million workers, according to the report released Oct. 4.
“The good news is that women-owned businesses have actually been growing over the last decade and actually growing faster than men-owned private businesses,” Rebecca Blank, Commerce’s undersecretary for economic affairs, said in a phone interview. “There’s clearly a sense here, if you look into the future, of an enormous growth opportunity for women-owned businesses in the private sector.”
Blank also pointed to challenges in the data. Businesses owned by women are “likely to be smaller, more likely to fail, and different from businesses owned by men along a variety of measures,” the report said. Those firms have lower levels of financial capital, use less outsider debt, generate less revenue and pay their workers smaller salaries.
Women Lag Behind
“In virtually every dimension, women-owned businesses lag far behind men-owned businesses,” Blank said.
The expansion of women-owned businesses from 1997 to 2007 followed a general shift in the U.S. job market. Health care and education-related jobs expanded while manufacturing and construction employment shrank, according to the report.
Blank said women entrepreneurs have concentrated in health and education - and they benefitted as those areas grew even during the recession. Data beyond 2007, when it becomes available, may reflect stronger growth in women-owned businesses, Blank said.
The more female entrepreneurs there are, the more other women will say, “‘Yes, I can jump in and do something like this too,’” Blank said.
The report is based on Census Bureau’s business and population data and information from the Kauffman Firm Survey, which tracks about 5,000 businesses founded in 2004 and examines the nature, strategy and employment patterns of new businesses.
To contact the reporter on this story: Alex Kowalski in Washington at akowalski13@bloomberg.net
To contact the editor responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net
To read other blogs by Douglas Castle, and to get exciting widgets, newsfeeds and other treats, just go to http://www.douglascastleblogosphere.com/
Tags, Labels and Keywords for this Post: women's business, small business loans, empowering women, women entrepreneurs, my mom, women are creating jobs, TNNWC Services for Women In Business, women in the workforce, women in the professions, women as providers, women as inventors, women as initiators, TNNWC Group, The TNNWC Weekly Newsletter, The BLUE TUESDAY Report, women voters, women as trend-setters, women in media, business plans, trends, widgets, blogs, Do these pants make me look fat, women as consumers, women's health needs, fedoras, SEO, social media
The number of companies owned by women grew by 44 percent to 7.8 million from 1977 to 2007, compared with a 22 percent increase in firms owned by men, the Commerce Department report found. Male-owned firms in 2007 totaled 13.9 million.
“Women-Owned Businesses in the 21st Century,” also found women in business added 500,000 workers to their payrolls while firms owned by men shed almost 2 million jobs during the period. As of 2007, the latest year that full U.S. Census Bureau data was available, women-owned businesses employed 7.6 million workers, according to the report released Oct. 4.
“The good news is that women-owned businesses have actually been growing over the last decade and actually growing faster than men-owned private businesses,” Rebecca Blank, Commerce’s undersecretary for economic affairs, said in a phone interview. “There’s clearly a sense here, if you look into the future, of an enormous growth opportunity for women-owned businesses in the private sector.”
Blank also pointed to challenges in the data. Businesses owned by women are “likely to be smaller, more likely to fail, and different from businesses owned by men along a variety of measures,” the report said. Those firms have lower levels of financial capital, use less outsider debt, generate less revenue and pay their workers smaller salaries.
Women Lag Behind
“In virtually every dimension, women-owned businesses lag far behind men-owned businesses,” Blank said.
The expansion of women-owned businesses from 1997 to 2007 followed a general shift in the U.S. job market. Health care and education-related jobs expanded while manufacturing and construction employment shrank, according to the report.
Blank said women entrepreneurs have concentrated in health and education - and they benefitted as those areas grew even during the recession. Data beyond 2007, when it becomes available, may reflect stronger growth in women-owned businesses, Blank said.
The more female entrepreneurs there are, the more other women will say, “‘Yes, I can jump in and do something like this too,’” Blank said.
The report is based on Census Bureau’s business and population data and information from the Kauffman Firm Survey, which tracks about 5,000 businesses founded in 2004 and examines the nature, strategy and employment patterns of new businesses.
To contact the reporter on this story: Alex Kowalski in Washington at akowalski13@bloomberg.net
To contact the editor responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net
To read other blogs by Douglas Castle, and to get exciting widgets, newsfeeds and other treats, just go to http://www.douglascastleblogosphere.com/
Tags, Labels and Keywords for this Post: women's business, small business loans, empowering women, women entrepreneurs, my mom, women are creating jobs, TNNWC Services for Women In Business, women in the workforce, women in the professions, women as providers, women as inventors, women as initiators, TNNWC Group, The TNNWC Weekly Newsletter, The BLUE TUESDAY Report, women voters, women as trend-setters, women in media, business plans, trends, widgets, blogs, Do these pants make me look fat, women as consumers, women's health needs, fedoras, SEO, social media
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