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                                                                                     3rd Quarter 2011
              Womenable E3 News
In This Issue
Measuring WBC Impact
New Research
Global Corporate Engagement
Stay Tuned!
AWBC Study Measures WBC Impact
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Funding for women's business centers in the US has been under scrutiny recently, as budget-cutters turn over every rock to look for programs to trim to reduce the budget deficit in Washington. To counter the misperception that women's business centers are duplicative of other federally-funded entrepreneurship education programs - and to provide metrics on client outcomes and impact - the Association of Women's Business Centers (with Womenable's help) recently conducted a survey among the country's 110 women's business centers. Here's what the survey found: 

WBC services are under-measured: In fiscal year 2010, WBCs trained, counseled, mentored or otherwise served nearly 200,000 clients, averaging just over 1,800 clients per center. This figure is fully 24% higher than SBA statistics, because the SBA's management information system does not fully capture the breadth of WBC support;

WBCs are efficient and cost effective: the survey finds that WBCs operate with an average of 4 full-time and 2 part-time staff, and leverage a ratio of 5 volunteer teachers, trainers and mentors per 1 staff member;

WBCs are making an impact: In FY2010, WBCs helped to launch 13,301 new businesses, helped to create an estimated 36,578 new jobs from new and existing firms, and supported firms that contributed a collective $1.3 billion to the US economy. 

 

A three-page summary of the survey findings is available for free by CLICKING THIS LINK.

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"One accurate measurement  

is worth a thousand expert opinions."  

 

~ Rear Admiral Grace Murray Hopper (1906-1992), pioneer computer scientist  

 

Research Roundup 
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This issue of our quarterly e-newsletter focuses on the wealth of research on women business owners and women's economic empowerment that's been published recently.

You'll want to download, bookmark, Digg, and/or StumbleUpon each of these impactful studies. Happy reading & social network sharing!
 Time to Make Space in Your
Womenabling Reference Library

New reports focus on women entrepreneurs: their growth, their under-representation at the highest levels, and what actions can improve both      
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There are several new reports from the international economic development community - as well as a "declaration" - that should have a place on your physical or virtual womenabling reference shelf. Here's a list of these new reports, including links where you can download them for future reference and sharing with others:
Here in the US, the Kauffman Foundation recently published "Overcoming the Gender Gap: Women Entrepreneurs as Economic Drivers," a report which points out some areas where women find themselves on the shorter side of an "entrepreneurship gender gap," including the fact that just 20% of women-owned firms exceed $100,000 in revenue 3 years after start-up, compared to 33% of men-owned firms. While perhaps too narrowly focused on high-tech and tech-transfer entrepreneurship, the report offers useful suggestions for action, such as:
  • More funding for growth-focused educational programming efforts in NGOs (such as women's business centers perhaps?);
  • Greater visibility for innovative women business leaders; and
  • More gender diversity on the boards of high-tech companies. 
CLICK HERE to learn more and download that report.
Corporate Engagement Increasing

Significant advancement in focus,  

from empathy to empowerment


handshake over board tableTime was, corporations parked their womenabling efforts in their corporate social responsibility silos. Now, corporations are far more likely to view women-owned firms as important customers and suppliers than a population in need of charity.

We can date US corporate interest in women business owners as a market back to 1995, when the Center for Women's Business Research's seminal report, "Breaking the Boundaries," was published. That report, based on an analysis of the entire Dun & Bradstreet database, showed that women-owned firms were just as financially stable and creditworthy as the average US firm. The report's release resulted in a virtual stampede toward women-owned firms by US banks.

Now, a number of global corporations are taking a market development approach to supporting women's entrepreneurship - readying them to be more valuable links in their supply chains.

The most recent entry is Walmart, the biggest corporation on the planet, which recently announced a four-pronged Global Women's Economic Empowerment Initiative. One important prong: $100 million USD in grants to women's enterprise development efforts worldwide.

They join two other corporate giants, Coca-Cola and Goldman Sachs, in firmly planting a flag in the field of women as agents of economic change, rather than recipients of charity.
  • Coke's initiative, 5 by 20, aims to empower 5 million women entrepreneurs by the year 2020, by adding them to their retail vendor sales force. They plan to announce other elements of the program soon, as well as the paths by which they will achieve their goal. Let's hope it includes women's business association capacity-building!
  • Goldman Sachs' 10,000 Women initiative, a 5-year effort launched in 2008, has the aim of increasing the number of business school-educated women in developing economies, pairing them up with corporate mentors in developed economies and partnering with universities and other non-governmental organizations. To date it is active in 22 countries, and is partnering with 75 groups to reach their goal.  
Don't Touch That Dial!

old radioStay tuned, fellow womenablers - two more important research studies will soon be on the airwaves. You'll find easy links to them on womenable.com when they are available!
We'd love to hear from you. Are you finding our quarterly news digest useful? Have we missed any important womenabling news/events of note? Thanks as always for your attention and support, and please connect with us on LinkedIn and Twitter, and "like" us on Facebook!
 
Sincerely,
Julie R. Weeks
Womenable