what's happening with women-owned businesses around the world?

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FROM LEELANAU TO LUSAKA WOMEN’S ENTREPRENEURSHIP AROUND THE WORLD JULIE R WEEKS, WOMENABLE

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Post on 12-Nov-2014

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A speech given to a business discussion group about what's been happening in women's entrepreneurship around the world.

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  • 1. F R O M L E E L A N A U T O L U S A K A W O M E N S E N T R E P R E N E U R S H I P A R O U N D T H E W O R L D J U L I E R W E E K S , W O M E N A B L E

2. A R O U N D T H E W O R L D , W O M E N Own between 1/4 to 1/3 of formal-sector enterprises worldwide Are estimated to own 224 million firms, with 56% of them new or nascent Are starting businesses at faster rates than are men 3. H O W E V E R , W O M E N A R E A L S O Less likely than men to start businesses Less likely to scale/grow those enterprises More likely to have lower perceptions of their capabilities and higher levels of fear of failure 4. N O T Y E T D O W O M E N A N D M E N H A V E E Q U A L I T Y O F O P P O R T U N I T Y ? E C O N O M I C P A R T I C I P A T I O N E D U C A T I O N A L A T T A I N M E N T H E A L T H & S U R V I V A L P O L I T I C A L P A R T I C I P A T I O N W O R L D E C O N O M I C F O R U M , G L O B A L G E N D E R G A P R E P O R T 5. W O M E N A R E L E S S L I K E L Y T H A N M E N T O O W N A B U S I N E S S I N N E A R L Y E V E R Y R E G I O N A R O U N D T H E W O R L D 27 4 15 13 5 6 5 10 30 14 19 13 10 13 9 15 Women Men %ADULTSWHOOWNABUSINESS S O U R C E : 2 0 1 2 G E M W O M E N S R E P O R T 6. P E R C E P T U A L B A R R I E R S , S O C I A L N E T W O R K S C A N D A M P E N E N T R E P R E N E U R I A L A C T I V I T Y 47 40 25 35 65 47 32 30 Women Men %WHOSAYTHATTHEY S O U R C E : 2 0 1 2 G E M W O M E N S R E P O R T 7. L E G A L B A R R I E R S A L S O I M P E D E E C O N O M I C O P P O R T U N I T Y Women only own 1% of worlds property In 3/4 of countries, there are legal differences that impede womens economic opportunity In 2/3 of countries, womens rights decline with marriage 44 countries restrict # of hrs women can work; 71 restrict types of industries in which they can work 8. W H Y D O T H E S E G A P S M A T T E R ? Diversity creates better groups, business outcomes and societies (Scott Page, University of Michigan) Women-led equity-backed firms yield higher ROI, lower failure (Illuminate Ventures) Countries w/ more economically empowered women have higher GDP, less violence (Stevenson/Lundstrom, United Nations) X 9. J U L I E S E N T R E P R E N E U R I A L J O U R N E Y Leelanau & DC roots Youthful political activism & feminism MOR SBA CWBR NWBC Womenable Numbers knowledge action 10. W O M E N A D V A N C I N G I N E D U C A T I O N 8% of women attained college degrees in 1970 37% of women attained college degrees in 2010 - nearly a five-fold increase A M O N G A D U L T W O ME N A G E D 2 5 + , C E N S U S B U R E A U 11. I N T H E W O R K F O R C E 43% of adult women were in the workforce in 1970 59% of adult women in the workforce by 2010 - a 37% increase B U R E A U O F L A B O R S T A T I S T I C S 12. I N M A N A G E - M E N T 35% of working women held managerial positions in 1970 41% held managerial positions as of 2010 (down from 50% in 2000) B U R E A U O F L A B O R S T A T I S T I C S 13. A N D I N B U S I N E S S O W N E R S H I P ?? of businesses were owned by women in 1970 30% of businesses are owned by women as of 2014 A M E R I C A N E X P R E S S O P E N / W O M E N A B L E 14. T H E N U M B E R O F W O M E N - O W N E D F I R M S I S G R O W I N G The # of WOBs has grown at 1-1/2 times the rate of all firms (68% vs. 47% from 1997-2014) As of 2014, there are 9.1 million women-owned firms, employing 7.9 million people and generating $1.4 trillion in revenues A M E R I C A N E X P R E S S O P E N / W O M E N A B L E 15. T H E I R E C O N O M I C C L O U T I S I N C R E A S I N G Since the 2007-08 recession, net new jobs have come from large, public corporations AND women-owned firms The number of $10M+ WOBs is up 57% vs. +38% among all such firms A M E R I C A N E X P R E S S O P E N / W O M E N A B L E 16. T H E I R D I V E R S I T Y I S G R O W I N G Women lead sectoral growth in 8 of 11 top industries Women of color now own 1:3 WOBs, up from 1:6 in 1997 A M E R I C A N E X P R E S S O P E N / W O M E N A B L E 17. T W O F O U N D I N G M O T H E R S O F I N V E N T I O N M A R Y K A T H E R I N E G O D D A R D ( 1 7 3 8 - 1 8 1 6 ) ~ N E W S P A P E R P U B L I S H E R , P R I N T E R O F T H E D E C L A R A T I O N O F I N D E P E N D E N C E M A D A M C . J . W A L K E R ( 1 8 6 7 - 1 9 1 9 ) ~ B E A U T Y S H O P O W N E R , W O M E N S E M P O W E R M E N T L E A D E R , M I L L I O N A I R E S S 18. D E B L E A R Y , F O R E N S I C P A T H W A Y S , U N I T E D K I N G D O M Inventor Hiked Mt. Everest BAWE, FCEM 19. S Y Z A N A A L I U , M A G I C I C E , K O S O V O Challenges of being in the vanguard The search for information, business support Evening out seasonal trends: yogurts 20. J A N E T N K U B A N A , G A H A Y A L I N K S , R W A N D A Post-genocide womens empowerment Global supply chains (Macys, Walmart) Expanding product lines, understanding color trends 21. W O M E N S E N T R E P R E N E U R S H I P T R A I N I N G I N R W A N D A 22. S O M E L E S S O N S L E A R N E D One size DOES NOT fit all: targeted support is critical Policy intervention: necessary but not sufficient Advocacy, womens voices matter The importance of unassailable facts 23. D E V E L O P I N G A W O M E N S E N T E R P R I S E E C O S Y S T E M Policies Programs Fact-based Data Legal Parity EE&T Capital Networks Markets 24. The future belongs to those who believe in the beauty of their dreams. ~ E L E A N O R R O O S E V E L T 25. F R O M L E E L A N A U T O L U S A K A W O M E N S E N T R E P R E N E U R S H I P A R O U N D T H E W O R L D J U L I E R W E E K S , W O M E N A B L E