October 17, 2017
October- Not Just About Pumpkin Latte’s
If you didn’t know, October is the Small Business Administration’s National Women’s Small Business Month. Let’s talk about it. Maybe you have some questions.
What does that mean, the SBA’s National Women’s Small Business Month? It means that we are paying particular attention to and celebrating small businesses started and owned by women…a number that has grown significantly year by year since 1997.*
Tell me more about that growth. As of the end of last year, there are now over an estimated 11.3 million women owned businesses in this country. They employ over 9 million workers and generate over $1.6 trillion (with a “T”) in revenues. Women are also now the majority owners in over 38% of U.S. businesses, up from 29% in 2007*.
Is this a good thing? You bet! In every sector of life, diversity is better—more ideas, more options created, more creativity in problem solving, and more money made.
I’d like some examples of successful women entrepreneurs. Well, you don’t have to go far. At the Maryland Women’s Business Center’s Annual Awards Luncheon there were plenty. They included keynote speaker, Dr. Maya Rockeymoore Cummings, president and CEO of Global Policy Solutions, LLC; Innovator of the Year, Carolyn Yarina, CEO and Co-Founder of Sisu Global Health ; Veteran Entrepreneur of the Year, Keshia Dempsy, Founder of Trinity Empowerment, LLC. ; Minority Business Woman of the Year, Hedy Thomas , President/Structural Engineer of Leuterio Thomas, LLC | Architects & Engineers ; Joan Teich, the MWBC Volunteer of the Year, who heads her own law practice, The Teich Law Firm, LLC; and Woman Entrepreneur of the Year, Dawn Taylor , President & CEO of Pinnacle Talent Acquisition.
Why are we talking about this? It’s the “writing on the wall.” More and more businesses will be started and owned by women and we need to celebrate, encourage and support those entrepreneurs. It’s a necessity to our economic growth.
How do we do that? Well, on the SBA’s website there are many organizations that are good resources to women entrepreneurs. One of the best is our own Maryland Women’s Business Center. Go to www.MarylandWBC.org and find the training, the counseling and the resources for you, or women you know, who want to start their own business.
You can sponsor events like the MWBC’s StartRight! Women’s Business Plan Competition or the Annual Awards Luncheon. You can even donate your time as pro-bono resource or training expert to the MWBC. Simply give them a call at 301.315.8091 to find out more.
It’s National Women’s Small Business Month—let’s see how much more we can grow this year!
-Stacey Fearheiley, Senior Business Administrator
(*Source = American Express 2016 State of women-owned Businesses Report)