I’ll tell you where the money isn’t – it isn’t being put into the hands of women entrepreneurs. Women own the majority of businesses in America. They own more than half of the 7.7 million firms in America that are responsible for more than $1.1 trillion dollarsin sales every year.Despite owning the majority of businesses in the US, women entpreneurs received only a whopping (ready … wait for it … you’ll be thrilled …) 4.6% of available Venture Capital funding between 1997 and 2004 (Center for Women’s Business Research).
Addding insult to injury, despite owning more than 50% of the businesses in the U.S., a mere 3.4% of federal procurement contracts are awarded to women-owned businesses.
Is it me, or is something wrong with this picture?
Our Napa Valley trip is going swimmingly. We visited the florist yesterday and toured some more churches. The highlight of my day was definitely the visit to the Healdsburg Soap Company. Unfortunately, all of the photos and narrative will have to wait until tomorrow. My laptop has mysteriously decided to quit working. I’ll have an update and photos, complete with cake tasting reviews, tomorrow.
Everymore, four industries have higher minimums than the federal 5% mandate. I don’t remember what they are but they’re things like cabinetry and other random categories.
The “legal” requirement is just 5%, I think.
There’s more information here:
http://www.washingtonpost.com/wp-dyn/content/article/2008/01/06/AR2008010601526.html
AMAZING STATS! Thanks for sharing the information – it is interesting to see how many women own businesses and how much more we can grow.
I had been told once that a certain percent of government contracts had to be given to women, and a certain percent to small businesses. I cant imagine that certain percent is less than 4! How terrible.