Report: The State of Women-Owned Businesses

The number of women-owned firms crossing the $1 million threshold has gone up in recent years, reports the Wall Street Journal. But while the number has gone up, the percentage has stayed the same. According to a 2011 report published by American Express OPEN, 1.8% of women-owned firms had $1 million or more in revenues in 2011, which is the same percentage as in 1997.

The study shows the greatest growing pain for women-owned businesses is between $250,000 and $499,000 in annual revenue. The study suggests that at these stages, firms may be struggling with management systems because owners and operators may be transitioning to a chief-executive position.

Read the full article here. 

Money Smart for Small Businesses

A Financial Education Program 

 

Money Smart for Small Business provides an introduction to day-to-day business organization and planning and is written for entrepreneurs with limited or no prior formal business training. It offers practical information that can be applied immediately, while also preparing participants for more advanced training. This program was developed in partnership by the Federal Deposit Insurance Corporation and U.S. Small Business Administration.

The Money Smart for Small Business curriculum is free and available online at http://www.fdic.gov/consumers/consumer/moneysmart/index.html.

Women Entrepreneurs Creating Jobs

According to the U.S. government, women own 30 percent of small businesses. Forty years ago, that number was just 5 percent. Today, women own a total of 7.8 million companies generating $1.2 trillion a year in sales.

StartUp America, the Council on Women and Girls, and the White House Business Council have put together an interactive tool to introduce you to some of the women entrepreneurs who are helping our country succeed. Some of these small business owners are on the cutting edge of social media, advanced manufacturing and biotechnology. Others have opened traditional “main street” establishments, such as stores and restaurants. All of them have created jobs, and made their communities better places to work and live. Learn more about the women behind some of the country's 7.8 women-owned businesses.

E-Magnify is proud to spotlight local women entrepreneurs in our Success Stories column. Check them out, and look for new featured entrepreneurs in the coming months.

Entrepreneurship Resources for Military Veterans

A variety of government and non-profit associations offer resources and programs designed to help U.S. military veterans who are interested in launching their own businesses. The U.S. Small Business Administration (SBA) has compiled a list of information, tools, and assistance programs for veterans who want to become entrepreneurs. These resources include small business guides, outreach centers, low-interest small business loan programs, and assistance with government contracting and franchising opportunities

According to the latest SBA data, of the 27.1 million non-farm businesses in the U.S., 2.4 million are owned by veterans. Statistics show that the success rate of these veteran-owned businesses is higher than other start-ups – perhaps a reflection of the discipline, skills, and leadership experience acquired in military service.

Learn more about entrepreneurship resources for military veterans.