Female Entrepreneurs - Key Statistics & Insights
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Key statistics about self-employed women and entrepreneurs - earnings, disparities & insights – created by personal branding strategist and founder of The Women's Success Summit, Michelle ...

Key statistics about self-employed women and entrepreneurs - earnings, disparities & insights – created by personal branding strategist and founder of The Women's Success Summit, Michelle Villalobos.

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Female Entrepreneurs - Key Statistics & Insights Presentation Transcript

  • 1. Women in Business: Key Stats & InsightsPresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 2. Part One Big Picture: By-The-Numbers Analysis of Women-Owned Businesses • A: Overview of Earnings & Growth • B: Women-Owned Businesses Earning Over $100,000 in Revenues • C: Characteristics of Women- Owned Businesses • D: Reasons for DisparityPresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 3. A Overview of Earnings & Growth Of Women-Owned Businesses** Survey of Business Owners (SBO): Statistics for All U.S. Firms by Business Activity by Receipts Size of Firm, Gender, Ethnicity, Race, and Veteran Status: 2007Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 4. A Women owned 7.8 million non- farm U.S. businesses in 2007 – an increase of 20.1% from 2002Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 5. APresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 6. A Women-Owned Businesses: • Grew by 44% between 1997 & 2007 • Twice as fast as men-owned firms, • Added roughly 500,000 jobs while other privately-held firms lost jobs. • More likely to be in industry sectors that experienced employment growth (i.e., health care & education services)Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 7. A In 2007, women-owned firms accounted for: • 28.7% of all nonfarm businesses in the US • 6.4% of total employment • 4.0% of total receiptsPresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 8. A The annual earnings ratio between self-employed women and men is 55%, well below the ratio between non-self-employed women and men.Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 9. A The vast majority of women- owned businesses draw in under $100,000 in revenues each year.Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 10. APresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 11. Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 12. A Geographic Breakdown: California = • 1.0 million women-owned businesses (13.3%) • $181.5 billion (15.2% of all women-owned receipts) Texas = • 610,279 women-owned businesses (7.8%) • $96.8 billion (8.1%) New York = 7.6% and 7.1%, respectively Florida = 7.5% and 6.6%, respecitively Illinois = 4.4% and 4.5%, respectivelyPresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 13. B A Look At Women-Owned Businesses Earning OVER $100,000 In Revenues** Survey of Business Owners (SBO): Statistics for All U.S. Firms by Business Activity by Receipts Size of Firm, Gender, Ethnicity, Race, and Veteran Status: 2007Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 14. B The total universe of female- owned businesses earning over $100,000 in revenues is almost 1,000,000 (971,409 as of 2007)Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 15. Total Number of Revenues of Women-Owned Women-Owned % of total Businesses Businesses Under $5,000 2,127,467 27.3% $5,000 to $9,999 1,414,859 18.2% $10,000 to $24,999 1,773,435 22.8% 87.5% $25,000 to $49,999 913,108 11.7% $50,000 to $99,999 591,837 7.6% $100,000 to $249,999 475,508 6.1% $250,000 to $499,999 218,578 2.8% Total universe 12.5% $500,000 to $999,999 135,821 1.7% over $100k = 971,409 $1,000,000 or more 141,502 1.8% businesses Total 7,792,115Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 16. Total Number of Revenues of Women-Owned Women-Owned % of total Businesses Businesses Under $5,000 2,127,467 27.3% $5,000 to $9,999 1,414,859 18.2% 79.9% $10,000 to $24,999 1,773,435 22.8% $25,000 to $49,999 913,108 11.7% $50,000 to $99,999 591,837 7.6% $100,000 to $249,999 475,508 6.1% $250,000 to $499,999 218,578 2.8% 20.1% Total universe $500,000 to $999,999 135,821 1.7% over $50k = 1,563,246 $1,000,000 or more 141,502 1.8% businesses Total 7,792,115Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 17. Total Number of Number of Revenues Female- Businesses of Female- Total % of Total % of Total Owned earning Owned Revenues Revenues Businesses over Businesses $100,000Revenues $100,000 to 475,508 2,758,994 17.2% 74,403,425 437,530,318 17.0%$249,999Revenues $250,000 to 218,578 1,488,049 14.7% 76,724,625 526,627,318 14.6%$499,999Revenues $500,000 to 135,821 1,074,149 12.6% 94,926,560 755,922,174 12.6%$999,999Revenues $1,000,000 or 141,502 1,420,296 10.0% 835,676,963 27,887,809,836 3.0%more Total 971,409 6,741,488 14.4% 1,081,731,573 29,607,889,646 3.7%Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 18. B Let’s delve deeper into these numbers... 2,758,994 total 475,508 businesses in US are woman- with sales between owned $100,000 and $249,999 (= 17.2%)Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 19. B 1,074,149 135,821 total businesses in are woman- US with sales owned between $500,000 and $999,999 (= 12.6%)Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 20. B 1,420,296 141,502 are total businesses woman-owned in US with sales over $1,000,000 (= 10.0%)Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 21. B The HIGHER the revenues go... the LOWER the percentage of business owners who are womenPresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 22. C Characteristics of Women- Owned Businesses* Survey of Business Owners (SBO): Statistics for All U.S. Firms by Business Activity by Receipts Size of Firm, Gender, Ethnicity, Race, and Veteran Status: 2007Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 23. C Women-owned businesses are typically smaller than men-owned businesses. • Women own 30% of privately-held businesses • They account for only 11% of sales and 13% of employment among privately-held companies • Average sales/receipts are only 25% of average sales/receipts for men-owned businesses • Women-owned businesses are concentrated in industry sectors where firms are typically smaller • Women start with less capital and are less likely to take on additional debt to expand their businessesPresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 24. The characteristics of self-employed women are similar to those of self-employed men • Self-employed women are older, more likely to be married, and less likely to have children at home than women who are employed • Self-employed women work fewer hours on average in their businesses than self-employed menPresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 25. Workers in women-owned firms are generally lower paid than at men-owned firms. • The average payment per employee at women- owned firms in 2007 was $29,000 • That’s roughly 78% of the amount paid per employee at men-owned firms, $37,000 • This comparison does not control for differences in industry, in workers’ skills, or in occupations between women- and men-owned firms.Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 26. Women-owned businesses also have lower survival rates over time: • 72% of men-owned firms operating in 2002 were still in operation in 2006, • Only 66% of women-owned businesses had survived during that same time periodPresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 27. D Why So Much Disparity? Survey of Business Owners (SBO): Statistics for All U.S. Firms by Business Activity by Receipts Size of Firm, Gender, Ethnicity, Race, and Veteran Status: 2007Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 28. D “In particular, a range of factors... that differ for female business owners appear to be important in explaining differences... Such factors include a lower tolerance for risk, fewer hours worked, different occupation and industry selections, and different underlying reasons for starting a business.” Survey of Business Owners (SBO): Statistics for All U.S. Firms by Business Activity by Receipts Size of Firm, Gender, Ethnicity, Race, and Veteran Status: 2007Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 29. D Less Access To Capital Women-owned businesses started their firms with 64% of the capital levels of businesses owned by men (and more owner debt) Survey of Business Owners (SBO): Statistics for All U.S. Firms by Business Activity by Receipts Size of Firm, Gender, Ethnicity, Race, and Veteran Status: 2007Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 30. D Less Access To Capital Women were found to be more likely to indicate that they did not need any financing to start their business. Survey of Business Owners (SBO): Statistics for All U.S. Firms by Business Activity by Receipts Size of Firm, Gender, Ethnicity, Race, and Veteran Status: 2007Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 31. D Use Of Personal Savings & Personal Debt Survey of Business Owners (SBO): Statistics for All U.S. Firms by Business Activity by Receipts Size of Firm, Gender, Ethnicity, Race, and Veteran Status: 2007Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 32. D Lower Risk Tolerance (more on that in PART TWO) Survey of Business Owners (SBO): Statistics for All U.S. Firms by Business Activity by Receipts Size of Firm, Gender, Ethnicity, Race, and Veteran Status: 2007Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 33. D Choice of Industry Women-owned businesses are concentrated in industry sectors that are dominated by firms that are smaller in size and in sales. Average sales and payroll within industries where women own businesses are typically lower than those where men own businesses. Survey of Business Owners (SBO): Statistics for All U.S. Firms by Business Activity by Receipts Size of Firm, Gender, Ethnicity, Race, and Veteran Status: 2007Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 34. Part Two Female Values & Characteristics in Business • A: The Female Brain • B: How Girls Are Socialized • C: Female Values That Support Business Success • D: ConclusionsPresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 35. A The Female BrainPresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 36. “Gender is the most powerful determinant of how a person views the world and everything in it. It’s more powerful than age, income, race or geography.” - Why She Buys, Bridgett BrennanPresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 37. “...women live in a distinct female culture with its own standards of behavior, language, priorities and value systems, that can be as difficult for men to detect as a dog whistle.” Why She Buys Bridgett BrennanPresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 38. Empathy / “I know how you feel” Oxytocin “...yet men have 6.5 times as much “gray matter,” associated withinformation processing, which is a clue to some researchers as to why guys often excel at mathematics and spatial reasoning.” Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 39. B How Girls Are SocializedPresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 40. Sex differences in the brain are actually small... but life, society & culture magnify them over time.Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 41. Girls vs. Boys• Mothers discourage physical risk taking more in daughters than in sons• Energetic boys feed off one another, whereas energetic girls tend to settle down in clusters of more docile friends• Girls are not as encouraged to compete overtly as boys are• Men and boys score higher on measures of physical and verbal aggression• Girls and women score higher on most measures of empathy (awareness and sharing of other’s emotions)• Boys are “toughened up” in a way girls rarely are, leaving girls more expressive and more attuned to others’ feelingsPresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 42. Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 43. Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 44. Being independent, competitive and dominant are qualities that are encouraged in boys (and often discouraged in girls)Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 45. The Military = nearly perfect microcosm of male culture in action and “arguably the precursor to modern corporate culture.”* Characteristics: - Status - Hierarchy - Command/control - Winning/losing - Victor/vanquished * Why She Buys, Bridget BrennanPresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 46. If a woman wanted to play with the boys, she had to do it on their terms, and turfPresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 47. Aside from learning new skill sets, adapting to the male-designed, male-dominated business world may require acting “tough” and ignoring or hiding emotion. Sometimes this feels like an uphill battle.Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 48. C Female VALUES that can support SUCCESS in businessPresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 49. Women want to succeed just as much as men... but they define success differently.Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 50. Passionate about their purposes.Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 51. Female social networks = perfect for viral spreadingPresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 52. Affinity for “Self-Help” (i.e., like asking for directions or getting expert input)Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 53. A tendency to favor collaboration as a way to solve problems or achieve a goalPresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 54. Creating successful relationships is important to women. Building networks is an innate skill and brings joy. It is also a cornerstone of successful business practices.Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 55. For women success is sweeter if it benefits the people or causes they care about.Presentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com
  • 56. D Conclusions • Women-owned businesses overall earn less than male-owned businesses - about 55% • Women have the skills they need, and that the business world increasingly values, to reduce the disparity in their earnings • Much of what “holds women back” could be reframed and propel them forward instead • Mentorship and collaboration can support these efforts • It is essential that our business culture focus on educating, supporting and nurturing female business ownersPresentation created by Michelle Villalobos, Mivista Consulting, Inc. Copyright Michelle Villalobos, 2011. To reprint, please email info@mivistaconsulting.com