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Women business owners contribute more than $3.6 trillion to the marketplace each year, and women account for more than 70% of consumer spending
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55% of women provide half or more of their household's income, yet 48 million women -- that is 80% of all women in the workforce -- earn less than $25,000 a year
(Facts from "The National Foundation for Women Business Owners")
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The road to entrepreneurship for Cynthia is a winding curvaceous bumpy road that twists through 25 years of preparation. With her mind focused on owning a business, Cynthia completed a Bachelor of Science degree in business administration and started driving. Cynthia turned a ten-year corner to be one of the youngest women ever to be elected to the school board, serve on the board of directors for The American Red Cross, The Girl Scout Council, and The Salvation Army. As successful as this was - so successful in fact that Cynthia received many awards, certificates, was recognized by the NAACP for outstanding leadership and received a resolution from the California State Senate, her goal was to own her own business. At forty Cynthia found herself divorced, no job, and no place to live. So she put her drive in reverse, completed a master's program in Instructional Technology and began teaching college. While teaching part time, Cynthia opened a franchise. From there, she and her daughter teamed up to start a business services company known as The Energy Tour Café. In 2006, we joined hundreds of thousands of women in the Count Me In campaign and declared a commitment to be a million dollar woman business owner by the year 2010.
Listen to Cynthia talk about how a small business can look big!
What is it that makes women business owners such a hot market? Numbers!
One in 18 adult women in the U.S. is a business owner. Across the nation, 5.7% of all adult women are entrepreneurs.
Women-owned businesses employ one in seven working Americans.
As of 2005, there are an estimated 15.6 million privately held majority or 50% women-owned businesses in the United States.
Women business owners are the fastest growing market with over $3 trillion in purchasing power.
More than 90% of women business enterprises intend to do business with Fortune 1000 companies in the next three to five years. This includes those who are currently marketing to Fortune 1000 companies and those who are not.
Forty-four percent (44%) of the revenues of women's business enterprises with $1 million or more in sales and 60% for companies with revenues below $1 million, comes from the small business community,.
Minority owned business suppliers are growing at a rate of 30 percent compared to a mere 7 percent for others.
