5/8/2008



4/2/2008

With plans to create an e-commerce portal that matches loan applicants with commercial lenders, the SBA has released a request for information (RFI) from potential vendors with ideas on how to set up such a site.

Business loan applicants using the portal would describe their financing needs and provide financial and performance information critical to an underwriter’s decision. The website would then facilitate matching interested lenders with prospective borrowers.

You can find the RFI at FedBizOpps.com. All responses to the RFI should be submitted via e-mail to Joanie.Newhart@sba.gov. The deadline is April 28.

3/25/2008

Women business owners are going green, going global and giving back to their communities, according to a survey conducted by the Women's Business Enterprise National Council (WBENC).

The study, which surveyed more than 1,200 women business owners, reported these findings:

• 25 percent of women business owners are taking business abroad. Of that total, 65 percent are in Europe, 45 percent are in Asia and 43 percent are in the Middle East. Among those going global, 57 percent are first-tier suppliers to a corporation, 36 percent are second  tier and 7 percent are third-tier suppliers.

• 71 percent of women business owners are trying to make their businesses greener, either by changing company policies and procedures or by greening their products.

• 53 percent of women business owners are giving 1 to 5 percent of their profits to philanthropy.

3/25/2008

The Women's Business Enterprise National Council (WBENC) has announced its annual listing of America’s Top Corporations for Women’s Business Enterprises. The award's 16 recipients are being honored for implementing programs that help women-led businesses compete for corporate contracts.

Joining the list for the first time this year are Alcatel, J.C. Penney, ExxonMobil, Coca Cola and Verizon. The other 11 companies are multiple winners.

3/13/2008

Do you have a tip that can inspire other women entrepreneurs to succeed? Mary Cantando, creator of the 2008 Woman's Advantage Page-a-Day Calendar, is looking for words of advice for next year's calendar.

The calendar contains a collection of tips by women entrepreneurs, for women entrepreneurs. It's a desktop calendar that also appears daily on the WomenEntrepreneur.com homepage.

Tips can focus on strategy, life balance, marketing, teambuilding or anything else that enhances your business or life. To capitalize on this opportunity, click here to submit your quote. The deadline for submissions is April 15.

3/10/2008

The Center for Media Research reports on a study sizing up the black women's market. The report was prepared by Miriam Muley, CEO of The 85% Niche, who points out that women make 85 percent of American's purchasing decisions.

According to Muley, the black women's market is one of the fastest-growing and most influential segments in business today. Their buying power is expected to grow to $600 billion in 2008.

As of 2004, there were more than 500,000 black-women-owned businesses in the United States, with revenue of more than $21 billion. Muley concludes that "corporations will be increasingly more dependent upon diverse women of color to achieve company sales targets."

Click here to read the complete paper.

3/7/2008

The Center for Women's Business Research has released its 2007 update of Key Facts About Women-Owned Businesses. Among these facts:

• Women own 50 percent or more of 10.4 million firms, employing more than 12.8 million people and generating $1.9 trillion in sales.
• For the past two decades, majority women-owned firms have grown two times the rate of all firms (42 percent versus 24 percent).
• Women of color own 50 percent or more of 2.4 million firms, generating nearly $230 billion in annual sales.
• Between 1997 and 2006 the number of privately held firms owned 51 percent or more by women of color grew five times faster than all privately held firms (120 percent versus 24 percent).
• Asian women-owned firms have the highest survival rate of all women-owned firms, with 77 percent of their businesses from 1997 remaining in 2000.
• Sales revenue for women-owned firms without employees increased 66 percent from 1997 to 2004, compared with 42 percent for all such firms.

Visit CFWBR for more information.

3/7/2008

If you've been wondering how to get in on the $400 billion federal contracts market, the SBA might have the answer: It has launched a free, online course, "Business Opportunities: A Guide to Winning Federal Contracts." The self-paced guide is aimed at small business owners, especially women entrepreneurs and small firms in underserved markets.

The comprehensive course uses both script and audio to provide information about the federal market and the rules governing federal contracts. It also reveals where to find contract opportunities, how to sell to the government and provides more than 40 links to the best contracting resources.

Entrepreneurs who complete the 30-minute tutorial can earn a certificate of completion from the SBA.

On a typical day, 700 to 1,500 customers register for online courses offered by SBA, through its virtual campus at the Small Business Training Network.

2/22/2008

Women business travelers are taking advantage of a new social networking site, SkyLounge.com, that helps business travelers connect with one another on their travels.

"Women account for 30 percent of total membership but take credit for more than 55 percent of the traffic," says founder Marcel van Gemerden, who launched the site last month. The site is similar to Facebook or MySpace, but caters to an older crowd. The average membership age is 35.

SkyLounge is focused on business travelers who want to network before, during and after their trips. "It gets lonely out there on the road," van Gemerden says. By posting information about their business trips on the site, travelers can meet with others when they arrive. They can also get tips on hotels and restaurants around the world.

Esther Osnabrug, a private banker at Credit Suisse in Monaco, is pleased with the site. "When a colleague or business contact is in the same city, I automatically receive an e-mail alert, which creates an opportunity," she says, adding, "I wonder how many opportunities I have missed in the past."

2/21/2008

Why do women start their own firms?

That's the question Candida G. Brush, a professor at Babson College in Babson, Massachusetts, sought to answer in a recent study, "What do Women (and Men) Want? Entrepreneurial Expectancies of Women and Men Nascent Entrepreneurs." Brush co-authored the study with Tatiana S. Manolova and Linda F. Edelman, both professors at Bentley College in Waltham, Massachusetts.

Although women are majority owners in 30 percent of privately held firms in the U.S., not much is known about women's motivation for starting their own firms. The study indicates that men are driven by financial gain, self-realization and autonomy, while women are motivated by status.

The study used data from 214 men and 227 women compiled over a five-year period by the National Panel Study of Entrepreneurial Dynamics.

Brush conducted the first and largest study of women entrepreneurs in the early '80s. She has since co-authored and co-edited several books on the topic, including Growth-Oriented Women Entrepreneurs and their Businesses, A Global Research Perspective.

 

2/19/2008

A graduate student from Minneapolis-based Capella University is seeking women entrepreneurs and other working women to participate in a doctoral research study. Elva Fong is investigating why women make voluntary career changes in midlife. Fong is targeting career women ages 35 to 55 who have been in a middle or upper-level management position for more than five years and have made or are in a position to make a midlife career change.

Information from the survey, "The Relationship Between Emotional Intelligence and a Voluntary Midlife Career Change Decision Among Women," will identify background factors that contribute to a midlife career change. The first part of the study consists of a demographic questionnaire. The second part asks 60 respondents to complete an emotional intelligence survey online. Finally, phone interviews will be conducted with 10 women who have switched careers midlife.

Click here to view the survey.--Eve Gumpel

 

1/25/2008

The wine collection of V. Cheryl Womack, a highly regarded American entrepreneur, will be featured in Aulden Cellars-Sotheby's March 15 sale of the finest and rarest wines.

Womack is president and CEO of The Star Group LLC, a networking forum for women. She is also chair of the nonprofit Leading Women Entrepreneurs of the World.

Womack's offering includes 4,775 bottles from Bordeaux, Burgundy, California and Australia, as well as a quantity of large-format bottles. It's expected to bring $1.2 to 1.6 million. The sale in its entirety is expected to fetch more than $2 million.

"I have always enjoyed wine, but over the past decade of reading, studying and tasting it has become a hobby and a passion of mine," Womack said. "As my collection has grown, I've amassed over 9,000 bottles, which is far more than can be stored in my 5,000-bottle cellar and considerably more than any one person could drink in [her] lifetime."

Womack started her first company, VCW Inc., in the basement of her home. The insurance agency was designed to meet the needs of independent contract truck drivers. Later the same year, she founded Preferred Administrative Services Inc., a third-party claims administrator. Womack built her companies into a $100 million business before selling them in 2002.--Eve Gumpel

1/21/2008

Clothing designer Eileen Fisher has announced the recipients of its annual Business Grant Program for Women Entrepreneurs.

Five winning companies were selected to receive $10,000 each from among a field of more than 200 businesses in the U.S. and Canada. Applicants were evaluated on innovation, social consciousness, sustainability and the environmental impacts of their business. Judges also considered the intended use of grant money and their alignment with the Eileen Fisher mission.

The 2007 winners are:

Hot Bread Kitchen, a Brooklyn, New York-based wholesale and retail bakery that creates professional opportunities for immigrant women. It uses organic ingredients when available, and preserves and promotes baking traditions from around the world.

Looolo Textiles, a home textiles design company based in Montreal, Canada. Looolo creates modern designs for the home and is committed to sustainability in the design and manufacturing processes.

Milkweed Mercantile, an eco-inn, organic cafe and community space in rural northeastern Missouri is slated to open in the spring of 2008.

One Good Woman of Camp Hill, Pennsylvania, is a purveyor of fine coffees, teas and gourmet gifts. Its customer service and locally procured products are addressing a void in the market.

To Go Ware, based in Berkeley, California, makes durable, reusable utensils, using environmentally responsible materials and fair-trade practices.

1/16/2008

A day-long research forum will be held in Chicago on January 23 as part of a national project to identify the barriers and challenges women of color face in the pursuit of business growth. The core of the project is research forums in five cities bringing women of color entrepreneurs together to identify key issues. 

The research will culminate in a 2008 national conference where recommendations generated by the research will be announced.

The research is being conducted by the Center for Women's Business Research and Babson College's Center for Women's Leadership. The goal is to identify actions and strategies to meet and overcome the identified obstacles. The first four forums were held in Atlanta, Dallas, Philadelphia and San Francisco. 

"As of 2006, there are 2.4 million businesses owned by women of color. They are starting businesses at a faster rate than all businesses, but their firms are not achieving the same level of success when measured by revenues and employment," said Sheila Brooks, national spokesperson for the initiative and president and CEO of SRB Productions Inc.

Women entrepreneurs who are African-American, Asian, Latina or another ethnicity must apply to participate. Selection criteria include owning a business that is at least 50 percent woman-owned, with annual revenue from $250,000 to $5 million. All types of industries are welcome. Contact the Center for Women’s Business Research.--Eve Gumpel

1/16/2008

Oprah Winfrey is expanding her media empire, laying the groundwork for her own TV network.

Winfrey and Discovery Communications announced plans this week to launch the Oprah Winfrey Network--OWN--in the second half of 2009 on the Discovery Health Channel.

The venture will be half owned by Discovery Communications and half by Winfrey's production company, Harpo Inc. Winfrey will serve as chairwoman and will have editorial control.

The new channel will not initially carry The Oprah Winfrey Show.  But Winfrey said she could choose to end that show in 2010 or 2011 and move it to the new network.

"This is an evolution of what I've been able to do every day," Winfrey told reporters in a conference call Tuesday. "I will now have the opportunity to do that 24 hours a day on a platform that goes on forever."

In addition to continuing her syndicated talk show, Winfrey said she would continue to produce programming for other outlets. A new reality show, Oprah’s Big Give, is scheduled to begin on ABC in March.--Eve Gumpel

1/16/2008

Small businesses interested in establishing a foothold in the U.K. are invited to enter the Technium Challenge International. The winner of the contest will receive a free year of office space at one of 10 Technium incubators in Wales. The package includes strategic counsel on financing, business planning and technical issues, plus networking opportunities.

Applicants must submit an executive summary of their business plan by March 28. Full business plans must be presented to country judging panels by April 4.

Finalists will receive introductions to established business networks, guidance on developing a U.K. market entry business plan and detailed briefings about European markets. From there, they will present their business plans to the Technium judging panel, which will select one winner.  

The contest is co-sponsored by Technium and International Business Wales. International Business Wales, part of the Welsh Assembly Government, helps companies trade with or establish operations in Wales. Technium's network of innovation centers supports the growth of technology companies.

Judges include Sony Corp. Chairman and CEO Howard Stringer, a Welshman; Gordon Innes, director of UK Trade & Investment USA; and Geraint Jones, chief executive, Americas, International Business Wales.--Eve Gumpel

1/11/2008

Authenticity is the key differentiator between a good female CEO and a great one, according to a study conducted by RHR International, an organization of management psychologists. The organization, which recently interviewed 65 top women business leaders, describes authenticity as a female leader bringing her core values, beliefs and her "full self" to how she operates as a leader. This integration is evident to those who see her in action.

To achieve this, women leaders must first gain support within the organization, then take business risks and, finally, enact change.

Through its research, RHR uncovered the following five actions of successful woman leaders. These are:

• Adapts internally: Incorporates what is positive and be resilient when it comes to things that aren't.
• Adapts externally: Quickly picks up accepted norms of an organization, such as communicating directly, challenging authority, competing, displaying passion and handling conflict.
• Leverages Support: Enlists the support of her organization (e.g., honest and direct feedback of her leadership style, mentoring on navigating informal networks, individualized career path and transitions)
• Takes risks: Takes risks in visible roles--with the support of an internal champion.
• Enacts change: Leads large-scale change, pushing the envelope of the organizational norms with her influence and credibility.--Eve Gumpel

 

1/11/2008

Women entrepreneurs are invited to apply for the second edition of the Cartier Women's Initiative Awards. The international competition is aimed at women entrepreneurs in the early stages of business development. Application deadline is Feb. 15. Winners will be announced Oct. 17.

The contest will honor five innovative women, one per continent, who lead creative, sustainable and socially responsible businesses.

Organized as a business plan competition, the contest was created in 2006 by Cartier and the Women's Forum for the Economy and Society, with support from McKinsey & Co. management consulting firm and INSEAD management school. Each laureate will win $20,000 and personalized coaching for a full year by McKinsey consultants, Cartier managers and INSEAD alumni.--Eve Gumpel

1/8/2008

Do you put in enough mileage exercising to circumnavigate the globe? Sign on to Hall of Fame women's basketball coach Marian E. Washington's new fitness website and find out. TrackandFitness.com will take you on an interactive journey around the world.

Subscribers input their physical activity for the day--from running or walking to weight training or even housework--and the site's technology translates that information into mileage, then moves users virtually across the country. An online map, beginning in the U.S., tracks progress mile by mile, city by city. Each new destination provides interactive activities for the whole family.

As a social community site, TrackandFitness.com "educates, inspires, motivates, supports and connects people," Washington says. Washington, who began her sports career as a discus thrower, has been an Olympic coach and served as head women's basketball coach for 31 years at Kansas University.--Eve Gumpel

1/4/2008

The SBA has proposed a new rule designed to increase women's share of federal contracting dollars, the Los Angeles Times reports.

The proposal allows federal contracting officials to set aside contracts for women-owned small businesses. The rule, seven years in the making, is intended to help federal agencies reach a goal of awarding 5 percent of federal contracts to female owners. The proposed rule was published December 27 in the Federal Register, and remains open to public comment until February 25. Read the proposed rules.

The proposed rule would limit the contract set-asides to four industry areas in which the SBA says women-owned small firms don't get their fair share of federal contract dollars. Those areas are national security and international affairs; coating, engraving, heat treating and allied activities; household and institutional furniture and kitchen cabinet manufacturing; and motor vehicle dealers.

The LA Times reported that women's groups and congressional leaders are raising a storm of protest against the plan because of its limited focus.

Sen. John Kerry (D-Mass.), who heads the Senate Committee on Small Business and Entrepreneurship, characterized the proposed rule as "a slap in the face to women business owners."

According to the LA Times, the SBA has acknowledged the limited scope of the rule. However, it also defended its findings. "Supreme Court decisions require legislative findings to justify a gender-based preferences program," the agency said in a statement. "In general, set-asides and other preference programs are subject to a high degree of constitutional scrutiny and require careful study and thorough justification."--Eve Gumpel