Wednesday, July 15, 2015

2015 State of Women-Owned Businesses Report

For the fifth year, Womenable, an organization that works to improve the systems that support women's enterprise creation and growth, has combined forces with American Express OPEN to analyze trends in women's enterprise growth and development. The result is the 2015 State of Women-Owned Businesses Report.

According to Womenable's website, the report finds the following:

  • The number of women-owned firms in the U.S. continues to climb, and is now estimated to have surpassed 9.4 million enterprises – 30% of all businesses in the country;
  • The revenue generated by these enterprises is now estimated to stand at nearly $1.5 trillion, and has increased by 79% since 1997; and
  • Women-owned firms now employ over 7.9 million workers (excluding owners), providing one in seven jobs among privately-owned businesses.

The Pittsburgh Post Gazette reported on the research, noting that while Pennsylvania has consistently claimed the seventh-highest number of female-owned firms among all states and the District of Columbia for the past 18 years, "the state also regularly lags behind much of the U.S. based on the rate at which women-owned firms are expanding revenues and employment."

“We’ve still got a long way to go in helping grow these companies,” said Jayne Huston, E-Magnify Director. 

Read the report's executive summary here

Tuesday, July 14, 2015

SBA Pgh. District Young Entrepreneur of the Year: Sidney Huffmyer

For Sidney Jake Huffmyer, it never was all about the bass… or the treble; it was all about making an imprint. And he has.

Today, thousands of Pittsburgher’s rock t-shirts created and printed by the musician who sits at the helm of 3E Studios and is the U.S. Small Business Administration’s (SBA) Pittsburgh District Young Entrepreneur of the Year.

Huffmyer and his cousin launched 3E Studios in his parents’ basement with a modest goal of doubling their sales each year.

 “The name stands for easy, efficient and enjoyable,” he explained. “Our first job was giving a pizza shop shirts at cost if they would stuff our flyers in their boxes. That’s how we started, and we made about $2000 in sales our first year.”

He sought assistance from the University of Pittsburgh Small Business Development Center. Eight years and a few moves later, 3E Studios now occupy a large space on Western Avenue. Using the SBA’s microloan program, they’ve secured money from the Northside Community Development Fund to upgrade their equipment. Armed with the new capacity of printing more than 500 shirts per hour, Huffmyer said 3E prints everything from family reunion commemorative tees to large, contact jobs for major area businesses like the Pittsburgh Penguins and Giant Eagle.

Want to rock your business? Call the SBA Pittsburgh District Office at 412-395-6560 and they’ll put you in touch with their network of resource partners that can help your business idea grow from basement to boardroom.

Thursday, June 11, 2015

Government Contracting & Networking Program

The SPC-IUP PTAC (Southwestern Pennsylvania Commission Indiana University of Pennsylvania Procurement Technical Assistance Center) will sponsor a free government contracting assistance & business networking program at the Fred Rogers Center at St. Vincent College in Latrobe on June 24, 2015 from 8:30 a.m. to 12:00 p.m. 

Representatives from the National Energy Technology Lab, U.S. Army Corps of Engineers, Mascaro Construction Company, LP, and H&W Global Industries, Inc. will be presenting on a variety of government procurement related topics. 

Register here to learn about working with two of the more prominent federal agencies in the Pittsburgh region as well as what it takes to function as a subcontractor in the Construction, Aerospace, and Defense Industries.

Wednesday, June 10, 2015

PowerLink's Financial Boot Camp (in Erie)

Register for PowerLink's Financial Boot Camp (June 23, 2015) in Erie, PA. 

As a CEO, you need to use your financial statements to make sound business decisions. But for the vast majority of CEOs, that is easier said than done. You’re not an accountant or a financial manager. And you have myriad responsibilities. You need to be able to quickly review, interpret, and analyze your company’s financial information so you can use it to manage your business effectively and profitably.

After one intense and fun day at PowerLink’s Financial Boot Camp, you’ll be able to do just that.

Date: June 23, 2015
Time: 8:00 a.m. - 4:00 p.m. 
Location: Gannon University SBDC, Erie, PA
Registration: $149.00 (includes breakfast, lunch, and all materials)

Our talented advisory team will help you improve your financial leadership skills so you will be able to do the following:
  • See your financial statements as dynamic tools for managing your business.
  • Have more effective communications and outcomes with your CPA and banker.
  • Interpret your financial statements more quickly and effectively.
  • Plan successfully using a customized budgeting tool.
  • Utilize classic methods for making good management decisions such as benchmarking, break-even analysis, and ratio analysis.

Participants have rated the program 4.75 out of 5 stars.

"Regardless of industry, understanding financials is the single biggest challenge for many business owners. Financial Boot Camp gave me valuable tools I will apply to my business to keep it financially healthy and profitable. Can't wait to attend again."(Erin Green, President, Verify Services, LLC)

Thursday, June 4, 2015

Scholarships for CORE FOUR Business Planning Course

Instructor: Debra Mason
Instructor: Debra Mason
Education & Training Manager, E-Magnify
Scholarships are still available for the next session of CORE FOUR Business Planning Course. Enroll today for $150 (half-off the normal registration rate). 

Classes start next Tuesday and meet for four consecutive weeks: June 9, 16, 23, and 30 (6:00 - 9:00 p.m.). 

Location: The "New" Connellsville Canteen, 131 W. Crawford Ave.,  Connellsville, PA

Instructor: Debra Mason, E-Magnify's education and training manager 

In this class, you'll learn strategies for operating a sustainable business in four core bodies of knowledge: 
  • Success Planning
  • Market Planning 
  • Cash Flow Planning
  • Operations Planning

By the end of this course, you’ll be able to do the following: 
  •  Explain the elements of a marketing plan.
  • Identify market niche.
  • Understand pricing of goods and services
  • Understand purpose and rationale for constructing cash flow projections.
  • Identify the support system and resources necessary for a sustainable business. 

Tuesday, June 2, 2015

Fun at E-Magnify's Friends & Trends Event

Thank you to everyone who came out to our Friends & Trends event at Macy's Monroeville Mall last week! And a special thank-you to our sponsors Macy's, Pittsburgh Magazine, and First Commonwealth Bank!

Betsy Benson, Publisher, Pittsburgh Magazine; Mark Ionadi, VPSM (Store Manager), Macy’s Monroeville; and Jayne Huston, Director, E-Magnify

Women business owners at E-Magnify's Friends & Trends event, May 28, 2015

Nearly One-Fifth of U.S. Businesses Equally Owned by Men and Women

An Issue Brief published by the SBA's Office of Advocacy details a frequently overlooked category of business ownership: firms owned 50 percent by men and 50 percent by women.

Equally-owned businesses (EOBs) represent a significant share of firms, employment, and receipts. These firms are frequently overlooked in discussions about business owner demographics. To say that 30 percent of firms are female-owned suggests that the other 70 percent are owned by men, when in reality, 53 percent are male-owned, and 17 percent are equally-owned by men and women.

Compared to other firms, EOBs are more likely to be family-owned or owned jointly by a married couple, but less likely to be minority-owned or veteran owned. EOBs account for 11.6 percent of total U.S. business receipts, 20.2 percent of firms with paid employees, 14.2 percent of paid employees, and 11.1 percent of annual payroll.

Advocacy’s Issue Brief #8: An Overlooked Demographic: Equally-Owned Businesses or EOBs, is available on Advocacy’s website here.

Funded in part through a cooperative agreement with the U.S. Small Business Administration.