How
Business Women Have Impacted the Economy
By
Angela Baker
Staff Writer
| Since
making their mark in the business world, women have increasingly
made an impact on the nation’s economy through their
company’s domestic and international services. For
example, “in 1992, 13 percent of women-owned firms
were involved in international trade, either exporting
or importing goods or services. Internationally-focused
businesses tend to be more growth-oriented than their
domestically-focused counterparts, and revenues are generally
higher among women entrepreneurs involved in international
trade” (National Women’s Business Council,
2007).
In
a report generated in 2007 on the status of women business
owners, it was discovered that businesses owned by women
had an economic impact that totaled $18.8 billion in the
Florida counties of Baker, Clay, Duval, Flagler, Nassau,
Putnam and St Johns. In addition, these businesses created
225,000 jobs (Flaisig, 2007).
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Unfortunately,
even with the proof that continues to arise regarding the impact
women-owned businesses have on the economy, obstacles still
remain in their access of corporate markets. “While nearly
six in ten Fortune 1000 companies who responded to a 2002 survey
spent $1 billion or more annually with outside suppliers, the
median share going to women was just 3 percent—and one
in five spent less than 2 percent of their vendor dollars with
women’s business enterprises” (National Women’s
Business Council, 2007).
Overall
Status Regarding Women in Business
If
past and current statistics prevail, women-owned businesses
will continue to be one the rise. The Center for Women’s
Business Research has reported that, in the past two decades,
women-owned companies have grown at a rate of two times that
of other firms (Cho, 2007). From 1997 to 2006, these firms have
increased from 5.4 million to 7.7 million. They comprised 30.4
percent of privately held firms in the country (Cho, 2007).
In addition to this, $1.9 trillion in sales are generated by
businesses owned by females (Kelley, 2007). Statistics reveal
about 17 new woman-owned companies surface every hour (Johnson,
2007).
Women-owned
businesses are more likely to stay in business, also. This would
seem to show much stability through this type of ownership (Johnson,
2007). One in three of these female-owned businesses operate
around health care and social assistance, whereas 38.3 percent
of these businesses are comprised of wholesale and retail trade
(M2Press Wire, 2006).
The
internet has made it easier for women to run their businesses
online without having to compete with the masculine entrepreneurship
that still seems to dictate how many business practices are
operated under (Donahue, Jome, and Siegel, 2006). These types
of businesses continue to surface across the World Wide Web.
Cho,
Cynthia H. "Business women rising to new heights: Women
business owners attribute successes to more resources and networking
opportunities." Daily Press (Newport News, VA) (01 July
2007). Newspaper Source. EBSCO. Aurora University, Aurora, IL.
3 Apr. 2008
Donahue,
Mary P., Jome, LaRae M., and Siegel, Laura A. “Working
in the Uncharted Technology Frontier: Characteristics of Women
Web Entrepreneurs.” Journal of Business and Psychology.
Vol 1. No 1. Fall 2006. 127-147. Article Source. EBSCO. Aurora
University, Aurora, IL. 3 Apr. 2008.
Flaisig,
Liz. "Women mean business: $18 billion worth." Florida
Times-Union, The (Jacksonville, FL) (30 Nov. 2007). Newspaper
Source. EBSCO. Aurora University, Aurora, IL. 3 Apr. 2008
Johnson,
Cecil. "Women changing rules of business success, author
says." Fort Worth Star-Telegram (TX) (29 Jan. 2007). Newspaper
Source. EBSCO. Aurora University, Aurora, IL. 3 Apr. 2008
Lewis,
Patricia. "The Quest for Invisibility: Female Entrepreneurs
and the Masculine Norm of Entrepreneurship." Gender, Work
& Organization 13.5 (Sep. 2006): 453-469. PsycINFO. EBSCO.
