National Entrepreneurship Week 2010 - Feb 20 - 27
Under the United States House of Representatives Resolution Number 699, this special event, now in its third year, encourages the celebration of the contributions made by entrepreneurs at the local, state, and national levels. The Governors of Maine, Michigan, New Mexico, North Dakota, Virginia, and Wisconsin have signed special proclamations in honor of entrepreneurs. In addition to celebrating the importance of American entrepreneurs, the House Resolution also highlights the “lifelong learning educational opportunities that prepare the NEW business leaders of the future.”
I have forwarded a request to our Governor to also write a proclamation to honor entrepreneurs in South Carolina.
During the week of February 20-27th, teachers, students, parents, entrepreneurs and officials are challenged to discuss the “20 Questions for All Americans” that highlight entrepreneurial literacy. Because situations vary and change over time, there is no one right answer to each question. After answering the questions, you may wish to download and present to anyone you choose the “Genius Certificate.” Go to http://www.nationaleweek.org/20-questions/activities; and http://www.nationaleweek.org/
Another important reason to celebrate the week is the recently announced plan by U.S. Commerce Secretary Gary Locke “to create a new Office of Innovation and Entrepreneurship within the Department of Commerce and launch a National Advisory Council on Innovation and Entrepreneurship,” to leverage and promote entrepreneurship innovation.
Cathy Ashmore, Executive Director of the Consortium for Entrepreneurship Education, has sent information on the events of this special week in a special email to Consortium and Entrepreneurial Educators. For more information see cashmore@entre-ed.org and the National Entrepreneurship Week, House of Representatives and Commerce Department websites.
Thursday, February 18, 2010
Sunday, February 14, 2010
NEW DATA ON WOMEN MAJORITY OWNED BUSINESSES
The recent (2009) Center for Women’s Business Research study of 417 women representative business owners shows that the products, services, jobs and income they create has a significant economic impact. According to the Center, the more than “$2.8 trillion dollars annually from majority-women-owned firms coupled with the more than 23 million people who are employed directly and indirectly by these firms again proves that women-owned firms are not a small, niche market but are a major contributor and player in the overall economy.” (p. 10)[1]
Women owners operate in all business sectors: 20.9% in professional, scientific and technical services; 13.4% in retail and wholesale trade; 11.0% in business services; 10.8% in administrative, support and waste remediation; 8.6% in healthcare and social assistance; 7.7% in communication media; 6.2% in financial, real estate and insurance; 7.0% in personal services; and 14.4% in a combination of other fields. (Women Owned Businesses by Industry, Table 2, (2009); Figure 4, (2008) p. 7). What is new is that the highest percentage by far is now in professional, scientific, and technical services.
This profile of businesses owned most likely reflects not only women who exited corporations to start businesses of their own due to the absence of opportunities to advance into the top positions, difficulty in balancing family and business demands, company layoffs, downsizing and changes in the overall economy but also more subtle changes, particularly the increasing number of women who are achieving higher educational levels than men in these fields.
What might all this mean? First, as women increase their percentages in businesses formerly owned by men, they bring a new style of leadership and an appreciation of the value diversity adds. Second, the data suggest a “need for new thinking and programming to support women who seek to grow their businesses.” As the Center points out, most of the small business programs in this country are geared to helping the neophyte or start-up owner. That means neither the existing college nor university educational offerings nor the federal government’s Small Business Development Centers and Small Business Administration services are addressing the special needs of women who want to grow their businesses, whether it is in terms of adding employees, expanding into overseas markets, or taking on additional customers and product lines.
Given the importance of these women-owned businesses, this niche needs to be filled. There is an opportunity here for an enterprising college or university to build a collaborative effort with a non-profit organization like the Center for Women or for the development and sponsorship of an economic development center in the Lowcountry to build and enable this process through a creative grant.
_____________
[1] Center for Women’s Business Research (October, 2009). The Economic Impact of Women Owned Businesses in the United States. http://www.womensbusinessresearch.org. (Direct citations and percentages of ownership quoted from this study as indicated by page numbers above.
Women owners operate in all business sectors: 20.9% in professional, scientific and technical services; 13.4% in retail and wholesale trade; 11.0% in business services; 10.8% in administrative, support and waste remediation; 8.6% in healthcare and social assistance; 7.7% in communication media; 6.2% in financial, real estate and insurance; 7.0% in personal services; and 14.4% in a combination of other fields. (Women Owned Businesses by Industry, Table 2, (2009); Figure 4, (2008) p. 7). What is new is that the highest percentage by far is now in professional, scientific, and technical services.
This profile of businesses owned most likely reflects not only women who exited corporations to start businesses of their own due to the absence of opportunities to advance into the top positions, difficulty in balancing family and business demands, company layoffs, downsizing and changes in the overall economy but also more subtle changes, particularly the increasing number of women who are achieving higher educational levels than men in these fields.
What might all this mean? First, as women increase their percentages in businesses formerly owned by men, they bring a new style of leadership and an appreciation of the value diversity adds. Second, the data suggest a “need for new thinking and programming to support women who seek to grow their businesses.” As the Center points out, most of the small business programs in this country are geared to helping the neophyte or start-up owner. That means neither the existing college nor university educational offerings nor the federal government’s Small Business Development Centers and Small Business Administration services are addressing the special needs of women who want to grow their businesses, whether it is in terms of adding employees, expanding into overseas markets, or taking on additional customers and product lines.
Given the importance of these women-owned businesses, this niche needs to be filled. There is an opportunity here for an enterprising college or university to build a collaborative effort with a non-profit organization like the Center for Women or for the development and sponsorship of an economic development center in the Lowcountry to build and enable this process through a creative grant.
_____________
[1] Center for Women’s Business Research (October, 2009). The Economic Impact of Women Owned Businesses in the United States. http://www.womensbusinessresearch.org. (Direct citations and percentages of ownership quoted from this study as indicated by page numbers above.
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