Commentary: Women have strengths vital to entrepreneurship | Women celebrities turn to business | Iowa lags in growth of women-owned businesses
 
May 20, 2015
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Commentary: Women have strengths vital to entrepreneurship
The Australian Minister for Small Business recently announced that about a third of the country's business owners are women, with more than 406,400 women running businesses there. Many women feel undervalued in the workforce, spurring the opening of their own businesses, writes Stefan Kazakis, a business strategist. Women tend to be more flexible, better planners, more efficient in balancing life and business and capable of setting boundaries, all qualities essential to running a business, he writes. Dynamic Business online (Australia) (5/19)
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Women celebrities turn to business
Several famous women have started businesses, in some cases citing the need to balance work and family life. Halle Berry launched Scandale Paris, a lingerie line sold at Target stores; Drew Barrymore co-owns Flower, a makeup brand; and Kate Hudson helped start Fabletics, an online seller of workout gear. Jessica Alba's The Honest Company had sales of $150 million last year. ABC News (5/13)
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Iowa lags in growth of women-owned businesses
A report from American Express OPEN indicates that the number of women operating businesses has increased 74% in the U.S. since 1997, but that number rose only 25.9% in Iowa. Employment in businesses owned by women in Iowa has fallen 26.4% in the past 18 years, and revenue has dropped to $7.7 million from $8.1 million in 1997. Women need better access to mentoring and financial resources to get more of these businesses over the critical $1 million mark toward success, according to Diane Ramsey, CEO of Iowa Women Lead Change. The Gazette (Cedar Rapids-Marion, Iowa) (5/19)
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Small Business Spotlight
Co-working space with day care could bring women back to work
Entrepreneur Glaucia Martin-Porath is working to create a co-working space for mothers that offers on-site day care, a game changer for the more than 100 women who expressed interest in the concept. Co-working spaces are growing in popularity across the country, and one location in San Diego, called Hera Hub, also focuses on women business owners. "I would have gone back to work earlier if I had the opportunity to work and be close to my child," Martin-Porath said. American City Business Journals (5/18)
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Want to Be a Better Salesperson? Build Relationships
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Social Media Buzz
WhatsApp might add business-to-consumer messaging
Facebook, which acquired instant-messaging service WhatsApp in October, may eventually add business-to-consumer messaging to the platform services, says David Wehner, Facebook's chief financial officer. It can be used to make payments, send receipts and follow up on service issues. Evening Standard (London) (5/19)
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NAWBO (R) News
NAWBO's next free Public Policy Webinar is less than a week away!
Be part of the voice of women entrepreneurs! Join NAWBO on at 9 a.m. PDT Tuesday, May 26 for a free Public Policy Webinar that is part on an ongoing series of webinars designed to keep women business owners updated and empowered to speak out on leading issues impacting their business community. You'll learn about the latest economic data, including state-by-state comparisons, and hear remarks from Raymond J. Keating, chief economist with the Small Business & Entrepreneurship Council. Register now.
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Technology
Number of women business owners in NYC rises, but there's room for growth
The State of Women Entrepreneurs in NYC, a report issued by New York City's Department of Small Business Services, indicates that the number of women-owned businesses there has risen 43% in the past 10 years. However, the report also notes that only 32% of all registered companies and 8% of businesses hiring employees in the city are owned by women. SBS is working to better understand why this difference occurs and what changes can help improve the gap. Forbes (5/13)
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Best Practices
Many women succeed in tech despite sexism
Sukhinder Singh Cassidy of Joyus, worried that negative publicity about discrimination and sexism in the tech industry would dissuade women from entering the field, reached out to 100 women successful in the industry to get their views. While two-thirds of them say they experienced some discrimination and 86% believe men judged them unfairly, they still found success. Fortune (5/19)
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Tips for women raising business capital
Businesses owned by women face challenges in obtaining capital, but they can take steps to improve their outcome. Laurie Donovan, a senior vice president at Wells Fargo, provided tips, including working to build a strong personal credit score and getting to know the banker personally. Women should consider all funding options, including Small Business Administration loans; maintain a positive cash flow within the company; and keep business and personal income separate to entice investors. American City Business Journals/Albuquerque, N.M. (5/19)
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What to do when clients are slow to pay
Clients who are slow to pay can crimp a small business' cash flow, writes Chinwe Onyeagoro, CEO of FundWell. Charging penalties for those who pay late -- or providing discounts for those who pay promptly -- can remedy the situation. However, you may need to cut ties with certain clients if trouble persists. BPlans.com (5/15)
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Lifestyle
Working mothers offer economic, social and educational benefits to kids
Children benefit from having working mothers in economic, social and educational ways, one study of 50,000 adults found. The study indicates that daughters of working mothers earn 23% more than those with mothers that did not work. "Part of this working mothers' guilt has been, 'Oh, my kids are going to be so much better off if I stay home,' but what we're finding in adult outcomes is kids will be so much better off if women spend some time at work," said study co-author Kathleen McGinn of Harvard Business School. The New York Times (tiered subscription model) (5/15)
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SmartQuote
Everyone, especially women, needs to give themselves permission to follow an idea and to understand that you don't have to be a young male in a hoodie to succeed."
-- Linda Rottenberg, CEO and co-founder of Endeavor.org, as quoted by Fortune.
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