Tips, Good News From Women Entrepreneurs In National Small Business Week
Miko Branch, co-founder and CEO of Miss Jessie’s, offers advice for women small business owners..
Props to the women.
During National Small Business Week, running until May 5, we can applaud the women entrepreneurs who own nearly half of all small businesses in this country, or 9.9 million of the 24.7 million small businesses, according to the U.S. Census Bureau. That is close to 40 percent of small businesses that employ 56.8 million people.
“During #NationalSmallBusinessWeek, running until May 5, we can applaud the #womenentrepreneurs who own nearly half of all small businesses in this country.”
“Small businesses contribute so much to our communities and economy. They create two out of every three net new jobs in the private sector. More than half of all Americans either work for or own a small business. Entrepreneurs are not only making a living for themselves, they are making their neighborhoods vibrant places to live and work and contributing to our nation’s economic strength,” says Linda McMahon, 25th Administrator of the U.S. Small Business Administration.
There’s more good news.
A new survey from 20,000 small business owners from SCORE, shows “women-owned businesses are equally as successful as men-owned businesses across all independent measures of business success, including business starts, revenue growth, job creation and number of years in business.”
“A new survey from 20,000 small business owners, shows women-owned businesses are equally as successful as men-owned businesses #womeninbusiness”
SCORE Vice President of Marketing and Branding Bridget Weston-Pollack, says, “Women-owned businesses are an impactful and fast-growing force in the US economy, but much of the existing research to date has shown how women-owned businesses are still at a disadvantage in performance, contribution and growth, compared to men-owned businesses.”
Read more at Take The Lead on small business tips.
Other Score findings includes that women are more likely than men to start businesses, as 47 percent of women in the idea phase follow through on starting a business in the past year, compared to only 44 percent of men.
Men and women business owners have similar rate of anticipated revenue growth in 2018, according to Score. The study shows 57 percent of women entrepreneurs predicted an increase in revenue growth, while 15.5 percent predicted revenues would stay the same, and 9 percent predicted a decrease in revenues. Similarly, 59 percent of male entrepreneurs predicted an increase in revenue growth, while 15.5 percent predicted revenues would stay the same, and 9.5 percent predicted a decrease in revenues.
Women have similar rates of business longevity, according to the study, with 13 percent of women owning a business for more than 20 years, compared to 17 percent of men.
WalletHub’s new 2018 Small Business Owner Survey reports seven in 10 small business owners say now is a good time for businesses to grow.
Kathy Warnick, owner of Warnick Consultants, and board chair of the National Association of Women Business Owners, says policies need to better support women small business owners, she writes in BizJournals.
“NAWBO is calling on Congress to swiftly pass H.R. 4219, the Workflex in the 21st Century Act authored by Representative Mimi Walters, (R-Calif.). This bill would amend the Employee Retirement and Income Security Act to create a qualified flexible work arrangement plan as an employee welfare benefit.”
Warnick adds, “These specific policies are just the tip of the iceberg when it comes to the best policies for women business owners. In the end, we hope our efforts lead to a comprehensive bipartisan piece of legislation that will advance the women business owner landscape for the next 30 years.”
Here are 6 of our favorite tips from women business owners and leaders featured in Take The Lead.
We’re all afraid. “But go in the direction that makes you least afraid. Reach out to networking groups, small business associations and start by asking questions without putting too much pressure on yourself.”– Michelle Dewoskin, managing broker and owner of Michelle Dewoskin Properties, LLC, in Chicago.
You will make mistakes. “Go ahead and do it. In terms of technical aspects, you can always go back and fix it.” — Cecilia Zapata, vice president of the nursery and former director of production of marijuana and hemp for Front Range.
“When you as a manager give an agenda item to someone on your team, it conveys real ownership, trust, and an opportunity for impact.” —Pat Wadors, senior vice president of global talent organization at LinkedIn.
Go for it. “If you have an idea, make it happen. No one is better suited. If we didn’t do this, who would?” —Sara Mauskopf, CEO and co-founder of
Give it all your energy. “I always gave my 120 percent into the companies I worked for and worked my way up to a point where I could one day remove myself from the corporate world and start my own business.” —Vivian Kleynhans, CEO of African Roots Wines.
Be careful. “Money makes people stupid sometimes. We are diligent in our vetting process and we are trying to think things out as if I didn’t have any money.” —Miko Branch, co-founder and CEO of Miss Jessie’s LLC.
National Small Business Week offers a series of conferences, virtual, workshops, seminars and resources. Additionally, “The SBA’s Women’s Business Centers across the country help female entrepreneurs in a variety of ways, including helping them to secure small business loans for women,” according to Forbes.
“In its 65th year, #NationalSmallBusinessWeek has no plans for retiring. And women business owners have no plans to slow down either.”
In its 65th year, National Small Business Week has no plans for retiring. And women business owners have no plans to slow down either.
About the Author
Michele Weldon is editorial director of Take The Lead, an award-winning author, journalist, emerita faculty in journalism at Northwestern University and a senior leader with The OpEd Project. @micheleweldonwww.micheleweldon.com