Small Business Report
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WOMEN MEAN BUSINESS
Back in the late 1960s the Phillip Morris Co. introduced a brand of cigarettes marketed specifically for women: Virginia Slims.
What was the logic? The thinking was that women deserved a cigarette that was “slimmer that the fat cigarettes that men smoke.”
The slogan used was “You’ve come a long way, baby.” The late 1960s marked more than a time when women had their own cigarette.
It was a time destined to be called the women’s revolution. The nuclear family began to change. Women began entering the work place in greater numbers. And they weren’t just going to work for men, either. Women were starting their own businesses.
Here we are today. Women continue to make their mark in the business world. The University of Georgia Small Business Development Center offers a program called the Georgia Women’s Entrepreneurial Network. It is designed specifically to assist women who are in business or are starting a business.
The U.S. Small Business Administration recently reported a few facts about women-owned business that you might find intriguing.
The number of women-owned businesses grew 20 percent between 1997 and 2002, twice as much as the national average.
According to the U.S. Census Bureau’s newly released 2002 Survey of Business Owners, women owned 6.5 million businesses.
Women-owned businesses employ more people than the combination of all the Fortune 500 companies.
Women-owned businesses generated over $940 billion in revenue, a 15 percent increase over the 1997 level.
Wholesale and retail trade accounted for almost 40 percent of women-owned business revenue.
There are 117,069 women-owned firms with annual receipts of $1 million or more.
There were 7,240 women-owned firms with 100 employees or more, and they generate $275 billion in gross receipts.
The states where the number of women-owned firms grew fastest between 1997 and 2002 were: - Nevada, 43 percent; Georgia, 35 percent; Florida, 29 percent; and New York, 28 percent.
Indeed, you've come a long way.
J. C. Smith is a business consultant with the University of Georgia's Small Business Development Center. Contact him at 770-531-5681 or e-mail, jcsmith@sbdc.uga.edu |
