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Silent Revolution

Presentation at Hubert H. Humphrey Institute of Public Affairs’ Conference: Knowledge Clusters and Entrepreneurship in Regional Economic Development September 14, 2004.

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Silent Revolution

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  1. PresentationatHubert H. Humphrey Institute of Public Affairs’Conference: Knowledge Clusters and Entrepreneurship in Regional Economic DevelopmentSeptember 14, 2004

  2. Trendsin Women’s EntrepreneurshipMary Riebe, Ph.D., DirectorCenter for Women EntrepreneursMetropolitan State Universitywww.metrostate.edu/com/cwe/

  3. Silent Revolution The rapid increase in women business owners has been referred to as the most silent revolution in our history. Nelton 1994

  4. Business Goals • Economic Necessity • Recognition • Flexibility

  5. Contributing Predictors of Success • Work Experience • Years of Self-Employment • Education

  6. Absolute Predictors of Success • Passion

  7. Women View Their Business As a cooperative network of relationships rather than profit-generator Brugh 1992

  8. Riebe’s Concentric Model of Female Entrepreneurs

  9. WomenManagement Styles • Open Communication • Participative Decision-Making • Concern for the Community Gundry: Ben Joseph 1998

  10. Effective Growth Strategies • Willingness to grow • Strategic activities • Strong market focus • External sources of financing • Procurement strategies Women Entrepreneurs in the New Millennium 2001

  11. Financing Trends Over 33 percent of all women still fund their businesses with their credit card National Association of Women Business Owners (NAWBO) 1997

  12. Financing Trends • Borrow from family and friends • Use personal credit cards • Have less commercial bank loans than men

  13. External Challengesto Growth • Access to capital • Not being taken seriously(NFMBO 1994) • Perceptions of being less successful, credit worthy, and innovative(Brush 1997) • Obtaining the appropriate assistance and information for business growth (Diana Project 2003)

  14. Central Life Interest My Ph.D. research asked women business owners, “Would you say your business is your central life interest?”

  15. Internal Challenges to Growth • THINKING BIG

  16. Other Trends • Significant growth of minority women-owned businesses The Leading Edge, 2004 • Expansion of women into non-traditional industries National Women’s Business Council, 2002

  17. Entrepreneurship is Global “As many as 300 million people around the globe were trying to launch new firms in 2003.” 2003 Global Entrepreneurship Monitor

  18. Conclusion This century will be the century of the entrepreneur in general and of the women entrepreneur in particular.

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