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Zee Worstell WEDN 2018 Women Are The Key To Fueling Economic Prosperity.

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Presentation given at WEDN 2018 in Charlotte, NC.
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Zee Worstell WEDN 2018 Women Are The Key To Fueling Economic Prosperity.

  1. 1. WOMEN ARE THE KEY TO FUELING ECONOMIC PROSPERITY PRESENTED BY
  2. 2. Who am I and why am I talking about this today? Zee Worstell CEO/Founder AccelerateHER envisions a business landscape where women business owners are judged by their success instead of their gender. We continue to work for an economy where women can compete locally, nationally and globally.
  3. 3. What’s Working For Women? • The AmEx OPEN 2017 State of Women-Owned Businesses Report • Women’s Business Ownership: Data from the 2012 Survey of Business Ownership, released May 31, 2017 • 2017 SMB Insights: Women SMB Owners Achieving Growth Through Community Focus • US Census figures released in September 2016 • National Women’s Business Council publications • The US Chamber of Commerce Foundation’s Center for Women in Business • US Department of Commerce Economics and Statistics Administration
  4. 4. Since 1997, 849 net new women-owned businesses have been started each day on average. That’s 6.2 million new businesses between 1997 and today! Let’s Establish a Baseline Women are starting businesses at a rate 2.5 times faster than the national average. Women-owned businesses are represented in all industry categories, with a concentration in: • Other Services – hair & nail salons, pet care • Health Care & Social Assistance – day care, home health care • Professional/Scientific/Technical Services – accountants, lawyers, architects, PR, management consultants
  5. 5. Women own 36% of all privately held firms. 32% of those firms consider themselves to be in growth mode compared to 27% of their male counterparts. BUT… 36% 50% 11% % Ownership Women-Owned Male-Owned Equally-Owned
  6. 6. While women own 36% of all privately held US firms they only account for… 12% Share of Revenue15% Share of Employment The average sales of women-owned firms are only 23% of the average male-owned firm. The average earnings ratio between self-employed women and men is 55%, well below the average discrepancy of the non-self-employed.
  7. 7. Why focus on women?
  8. 8. Studies show that 94% of women business owners generate sales locally.
  9. 9. 72% of women business owners try to do business with other local businesses.
  10. 10. 68% of firms run by women are actively involved in the local community to promote goodwill and generate business.
  11. 11. 70% believe that their business has a key responsibility to address social and environmental issues. 61% of women business owners are actively working to make their businesses sustainable.
  12. 12. The results of a study by Paychex states “Our survey found women were more trusted as business owners than men.”
  13. 13. How can we impact women’s success?
  14. 14. Three factors make a difference when it comes to women’s success and profitability….. Survival Average women-owned employer business over 32 years old: $4.2 million in receipts 20 employees Average women-owned employer business less than five years old: $432,000 in receipts 4 employees
  15. 15. Three factors make a difference when it comes to women’s success and profitability….. Being an Employer Business Women-owned employer businesses earn 44 times more revenue than a woman-owned non-employer business. 90% of women-owned businesses have no other employees but themselves. (8.8 million) If half of those solopreneurs each hired one employee, 4.4 million jobs would be added to the workforce.
  16. 16. Three factors make a difference when it comes to women’s success and profitability….. Amount of Capital For both employer and non-employer businesses, women are more likely to start a business with less capital than men – 72% of all woman-owned non-employer businesses start with $5,000 or less, compared to 55% of male-owned non-employer businesses. According to the SBA, firms that start with more capital tend to have more sales and employees.
  17. 17. What Can You Do To Support Women Business Owners? “To propel women-owned businesses beyond the microenterprise stage will take support services and programs specifically geared to women.” -The US Chamber of Commerce Foundation’s Center for Women in Business Does this work for the women in my community ? The average age of women business owners is 48.
  18. 18. Research backs this up… When a business owner receives training, she is 80% percent more likely to still be in business three years later and will create two additional jobs.” ~ The Aspen Institute’s Field Program
  19. 19. Develop educational and training programs for businesses who are past the start-up phase. Try to schedule educational and training programs so they are more accessible to women. Pick topics that are serious and move the business needle forward. 3 Things You Can Do…
  20. 20. We continue to work for an economy where women can compete locally, nationally and globally. My Goal: To impress upon you the importance of supporting women business owners and showing you how they are the key to prosperity for your communities.
  21. 21. Reach Out Zee Worstell zee@accelerateher.com www.AccelerateHER.com 800-864-8860 ext 1 @weAccelerateHER Challenge: Ask yourself, “Does this work for women business owners?”

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