Women Entrepreneurs and Beginnings
I have always loved starting from the beginning and creating. From the beginning, I knew that the business was going to be a success. Why? Because there was a need and a void that was waiting to be filled. The excitement was in creating something new. I had no idea about the ins and outs of the business at that time. And the fact that it had to do with insurance, who would have thought? But there was data and a gut feeling. It was risky, risky and exciting. And I was passionate about putting it all together.
I had become an entrepreneur and it was exhilarating. Being a single mom, searching for employment around the strict schedule of daycare back in the day, the offer had been too good to turn down. Little did I know, that I would be entering the world of entrepreneurship within the next few years. What had started out as a secure weekly paycheck, turned into an adventure. I remember the that It was just Britt, my beautiful Keeshond and myself in the office.
Women Entrepreneurs and Business Ownership
The Women’s Business Ownership Act of 1988 allowed women to access capital in their own name for commercial purposes. For the first time in history, women no longer needed a male cosigner.
The 2018 State of Women-Owned Businesses Report shows an increase of nearly 3,000% in the number of women owned businesses since 1972. Between 2017 and 2018 women have started an average of 1,821 new businesses per day in the U.S. And women make up 40% of new entrepreneurs.
Women Entrepreneurship and Reasons?
Women entrepreneurs. So that is the history and some statistics. What about some of the reasons? It’s definitely risky, a trait not often attributed to women. How about:
Flexibility, flexibility to make your own schedule. Whether it’s to accommodate family needs or to accommodate their own needs, the flexibility is there.
Equality, equality in worth and paying themselves what they are worth. The gender pay gap is forever looming. Being the boss allows a women to set her own rate and charge what she is worth.
Control, control and being in the driver’s seat. The old myth that working for a company offers stability went out the window a long time ago. And in today’s ever changing landscape, it’s even more apparent.
Advancement, advancement at your own speed. Studies show that women are 15% less likely to get promoted. Now the promotion is up to themselves.
Passion. A passion that can turn into a business. Think about that, working at something that you are passionate about. It can be quite exhilarating.
The #metoo movement has brought to light women who are inspired to fight for change. An equitable workplace and economy are the goals.The Women’s Business Development Council or WBDC helps women achieve these goals. The council provides training, education and access to capital for women entrepreneurs and business owners.
Women Entrepreneurship, the WBDC and Fran Pastore
Meet Fran Pastore, Champion of Women’s Entrepreneurship and Economic Equity. Fran is the CEO and Founder of the Connecticut WBDC. Fran was a single mother of two young girls, living in Connecticut with no real job opportunities around. Her lifelong belief in women’s economic equality and love of small business gave her the perfect passion for starting WBDC. WBDC has helped more than 180,000 women across 169 Connecticut towns become better business people.
On this week’s episode of my podcast Sylvia & Me, I talk with Fran. We discuss all things women, business and entrepreneurship. As Fran said, ‘When women entrepreneurs receive the training they need to launch new businesses and scale existing ones, they stimulate economies and build strong communities. A better workplace is within our reach.’