Woot! 23 Million Employed by Women-Owned Businesses
Posted October 19th, 2009 by Kristin Rowe-FinkbeinerMy 10-year-old daughter, Anna, wants to start a business selling small pompoms glued together to look like cute, warm fuzzy creatures that she makes on our dining room table. Why start your own business, I asked her? “Because I wanted to earn some money of my own.”
Turns out Anna’s not alone. Even in these tough economic times, women are starting businesses at an astounding rate. A recent report found that women-owned businesses in the United States now employ 23 million people, which is nearly double the number of those employed by the 50 biggest companies in the country combined!1
Wow! Not only are women now nearly half of the entire labor force, but women have also become a strong force as business owners in our nation-and we want to celebrate that power for Women in Business Week, which is this week (October 19th- 24th):
- Do you own a business? If YES, click here to tell us all about it:
http://salsa.democracyinaction.org/o/1768/questionnaire.jsp?questionnaire_KEY=847
- If you don’t own a business, do you have a dream business? Or a woman entrepreneur you admire? Tell us about it & read what others are saying here!
http://salsa.democracyinaction.org/o/1768/t/9263/p/dia/action/public/?action_KEY=932
Why all this interest in women-owned businesses? Well, for one, as we celebrate Women and Business Week (October 19-24) we want to give a shout out to all the women who’ve set up their own businesses. We’re also building a network of women-owned businesses because you’re in the forefront of creating truly family-friendly workplaces and your voices are critical to helping to bring about change for all working women. And lastly, for those of you who don’t currently own your own business, we want to collect your ideas and dreams for empowering more and more women.
The number of women-owned businesses has been sky rocketing. For the past several years women have been starting businesses at double the rate of the general American public, and many of these new business owners are women of color.2
Many are asking, “Are you surprised by how quickly the number of women-owned businesses has been growing?” Our answer? Well, no. Moms know that the general lack of workplace flexibility, family leave, sick days, and affordable and high quality childcare in most companies can make worklife balance a nightmare. Plus the fact that women are paid 77 cents to a man’s dollar,3 and moms are paid just 73 cents to a man’s dollar is a strong incentive for business ownership.4 So, we’re not surprised that many women are taking their education and skills to Main Streets and boardrooms across our nation to do it their own way. In fact, women-owned businesses are more likely to offer supportive, family-friendly benefits like flex-time, family leave, sick days, and profit sharing!5
With these stats in mind, it’s no wonder an increasing number of women are taking matters into their own hands and starting their own businesses where they can pay themselves equal pay for equal work, and also provide family-friendly policies in their own workplaces.
Business analysts agree: Alicia Robb, Kauffman Foundation senior research fellow was recently quoted saying the following: “The interesting thing about women entrepreneurs is that many of them may be purposely starting businesses as a lifestyle choice. The number of women-owned businesses growing faster may reflect that women are going into business as a viable way to move out of the traditional employment market and gain flexibility.”6
Here are some quick facts for you. Majority women-owned businesses:
- Employ 23 million people (16 percent of the workforce, which is nearly double the number of those employed by the 50 biggest companies in the country combined), 7
- Generate $3 trillion in revenue, 8
- Are more likely to offer supportive, family-friendly benefits like flex-time and profit sharing!9
*Moms are powerful! Help us flex our muscles by telling us if you own a business here:
http://salsa.democracyinaction.org/o/1768/questionnaire.jsp?questionnaire_KEY=847
And, if you don’t own a business, then do you have a dream business? Or a woman entrepreneur you admire? Tell us about it and read what others are saying here too!
http://salsa.democracyinaction.org/o/1768/t/9263/p/dia/action/public/?action_KEY=932
As we celebrate the success and power of women in business, we’re also building a network of women-owned businesses so we can help each other out, as well as better build a movement for family economic security for all in our nation.
– Kristin, Nanette, Ariana, Donna, Mary, Katie, Sarah, Dionna, Joan, Ashley, Anita, and the MomsRising Team
SOURCES:
1-Ylan Q. Mui, “Women a Big Force in Business, Study Finds,” Washington Post, October 3, 2009: http://www.washingtonpost.com/wp-dyn/content/article/2009/10/02/AR2009100205317.html
2- February 3, 2009: The Kaufmann Foundation: http://www.kauffman.org/Details.aspx?id=6254&LangType=1033 Also: A Compendium of National Statistics on Women-Owned Businesses in the U.S.” A publication of The Center for Women’s Business Research, prepared for the National Women’s Business Council. September 2000. Available at http://www.nwbc.gov/research/documents/compendium.pdf In addition: The website of The National Women’s Business Council, Research page. Available at http://www.nwbc.gov/research/research.html
3- http://www.census.gov/hhes/www/poverty/poverty08.html
4- Jane Waldfogel, “Understanding the ‘Family Gap’ in Pay for Women with Children,” Journal of Economic Perspectives 12, no. 1 (1998): 137-56.
5- Deborah L. Frett, “Paid Sick Days and Paid Parental Leave are Good for Business and Good for Working women,” 2009: http://edlabor.house.gov/documents/111/pdf/testimony/20090611DeborahFrettTestimony.pdf
6 – February 3, 2009: The Kaufmann Foundation: http://www.kauffman.org/Details.aspx?id=6254&LangType=1033
7- Ylan Q. Mui, “Women a Big Force in Business, Study Finds,” Washington Post, October 3, 2009: http://www.washingtonpost.com/wp-dyn/content/article/2009/10/02/AR2009100205317.html
8- Ylan Q. Mui, “Women a Big Force in Business, Study Finds,” Washington Post, October 3, 2009: http://www.washingtonpost.com/wp-dyn/content/article/2009/10/02/AR2009100205317.html
9- Deborah L. Frett, “Paid Sick Days and Paid Parental Leave are Good for Business and Good for Working women,” 2009: http://edlabor.house.gov/documents/111/pdf/testimony/20090611DeborahFrettTestimony.pdf
11 Comments
We can do better women have all the required skills, we are honest too. Gone are the days when we would rely behind man and give them advice. They have a saying behind every successful man there is a woman. Behind every successful woman it is a woman. God bless you all. I was also impressed by the President he urged banks to support Small Bussinesses. The truth is we do not get enough support from banks.
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October 21, 2009 at 10:51 pm by Erika MunozThis is the time for the woman. For so long we have had to accept things just because of our gender. But the problem is they are afraid of the strength of a woman. It is powerful. Women owned businesses will thrive as long as we stay positive about ourselves by remembering that their was a time when what we knew and can do didn’t mean a thing. But look at us now!!!!!
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October 21, 2009 at 3:17 pm by Lin YoungThank you for recognizing the work of women. I own and run a company that makes nutritional products for kids. We create hypoallergenic, refined sugar free, dairy free, gluten free, soy protein free, chemical and preservative free products called Toddler Health.
After breastfeeding my own son, I realized that the choices for products that are allergy free were virtually non existent. We decided to start working on options for moms and parents in general. My son is allergic to dairy and soy protein. We are now proud supporters of Celiac Disease Foundation, FAAN and Autistic groups. Moms supporting Moms with questions about the health of their children. We all want the best for our kids – they are our future and it is our calling to stand up and raise our voices to demand better food choices for our kids.
Please visit our site http://www.toddlerhealth.net for more information and thank you for your support.
Sincerely,
Lin Young
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October 19, 2009 at 7:42 pm by Ally LopreteI am the owner and co-founder of OurMilkMoney.com. We are a business directory that lists only parent-owned businesses. I created this site largely because of my passion to support the parents who, as an alternative to daycare and inflexibility in their corporate jobs, had chosen to find a way to bring in revenue while staying home with their children.
As not to deprive my own children of my daily presence, I searched for a solution that would allow many parents to work from home. Our amibition is to help parents see that they DO have a choice, and that they are not alone in wanting more for their children. Our Milk Money has become a tool to help parents find financial opportunities and support.
As I began to explore my visions and shape them into a solution, I decided to do a bit of research. I was curious as to how others felt about the situation and whether or not there was a real need for what I wanted to put into motion. The response to my idea was astounding. Hundreds of letters from self-employed parents came flooding in from across the country asking how to get involved, where to sign up, and what could be done to ensure Our Milk Money’s success. I was overwrought not only with the enormity of the responses, but the blatant urgency that came with each inquiry. I discovered how much people needed to believe in this prototype, and how it gave them a new perspective of hope. Complete strangers were informing me of their own personal struggles and of what the success of Our Milk Money might mean for their families.
My aim is to empower other parents, encourage them to purchase each other’s products and services, and pass our funds back and forth in our own mini-economy. Perhaps if we all made that commitment to one another, others would see the benefit and would want to be a part of our community.
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Ally Loprete Reply:
January 21st, 2010 at 3:42 pm
Just wanted to elaborate on that…OurMilkMoney.com promises to change the world and save the economy for families nationwide. OurMilkMoney.com is a business directory the lists ONLY self-employed parents, and an online search for consumers to choose to shop with parents, give their money directly to a family, and feel good about the value of each purchase.
Together we earn “milk money” or extra revenue for our families. This is the answer for many families who wish to keep one parent at home while bringing in 2 incomes. We are committed to making purchases only from each other and by doing so, we have created a “mini-economy.” Our vision has created an alternative to daycare, joblessness and working for others who force us to put their needs before our children’s needs. We embrace free-enterprise and see the unstable economy as an opportunity for growth and rebuilding.
This is a concept that many parents have already taken part of across the country, in more than 80 major markets, but we need to get the word out to truly succeed. We have come as far as we have on very little funds and 100% word of mouth. Annual membership for each self-employed parent is only $25/year.
Please visit us to shop and support self-employed parents!
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Do you feel like you are a conscious consumer, but wished there was a comfortable way to talk to your friends and neighbors about the impact of their choices?
With interesting, and sometimes startling facts, I, your Zola
Coordinator will take you through the life of an average American consumer and demonstrate how to make small changes to improve your lives and surrounding environment.
Inspired by this message, you and your guests will then have the opportunity to order high-quality, affordable, environmentally friendly, and socially responsible products.
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October 19, 2009 at 7:00 pm by Stacy FloresI own my own Private Investigation and Process Service Business in Texas as well as am an Independent Associate for Pre-Paid Legal Service, Inc. Both businesses complement each other nicely and allow me the freedom to work from home and spend more time with my family. I love my flexible schedule and the ability to rearrange my day as I see fit to accommodate my family. I was a teacher for about 10 years and worked in the Criminal Justice System in Texas for about 10 years prior to that. I enjoyed my jobs, but that is what they were to me jobs. Simply a way to support my family. I don’t see my life now as having to get up and go to a job. I see myself as helping people and that makes me feel good about myself and I get paid to do it and spend more time with my family. Life couldn’t be better.
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October 19, 2009 at 6:46 pm by AnitaThanks for sharing your advice and experience, Kim! Would love to hear more from you and others who own your own businesses (or dream of doing it!).
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October 19, 2009 at 5:27 pm by KimI own my own online retail business, and it has been a learning experience from the very beginning. I with I had started younger in life for two reasons. One, I would have had a lot more energy back then:) Second, starting early in life, your mistakes are a lot more forgiving. My family is affected by the mistakes I make today, which means I have to be more careful with the risks I take. Start young…take huge risks…learn from your failures…repeat.
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Nancy Reply:
October 19th, 2009 at 8:16 pm
@Kim, OH my Kim we can so relate!! My son and I bought an embroidery/screenprinting business and he knew more than I did but still we both did not know enough. It consumed us and I made so many mistakes in pricing and hiring help.
So Kim…know that it’s okay because all that matters now is today! Discard the worry of what was, and enjoy the moment of what is and GO GIRL!!!
And…about that energy …. Check this out! http://www.BodyIns.com Pure~natural~healthy~energy…Verve! It’s all I do now. Help families protect their #1 Asset-Their Health!
Nancy & Andy (he forgave me for my mistakes!! Thank God!
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