American Express OPEN taking special interest in the benchmarks reached by women-owned businesses and tasked itself with spreading the findings of its studies to encourage and enable women to put business plans in motion. Understanding how woman business owners are finding success is an important part of further growth. Below are some facts about women-owned businesses, complemented by tips and insights from successful female entrepreneurs.
Taken from (http://mashable.com/2012/08/14/facts-women-business/)
1. In the past 15 years, the number of women-owned businesses grew by 54%; there are now 8.3 million women-owned businesses in the United States.
“It’s so essential for business owners to have a financial plan. Often, business owners invest their own savings in order to increase their ultimate earning potential. Because of this, it’s extra important for you to have a personal plan for your own money and to establish your boundaries -– when you will and won’t do something. I think all too often people don’t have a plan -– and not having a plan actually is a plan, it’s just a really bad one! People don’t know what they don’t know, so it’s critical to talk to someone and enlist expertise from others.” — Alexa Von Tobel, LearnVest
2. Despite owning nearly 30% of U.S. businesses, women attract only 5% of the nation’s equity capital. When it comes to first-year funding, women receive 80% less capital than men.
“I went out to SXSW knowing that all the investors I knew -– that they would all be there for the week and I could catch up with them all face to face. And I started with the people that knew me best asking if they would invest, or did they know someone they could introduce me to who could invest.
“Within 12 weeks I closed a round of nearly a quarter million. When all was said and done, I raised over $2 million in capital from investors. Not knowing how to do that and approaching that for the first time was a real challenge.” — Laura Fitton, oneforty
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