The National Women’s Business Council released a new infographic Tuesday illustrating the significant economic clout of women-led businesses.
While many use the term ‘women-owned’ to quantify women’s economic activities in accordance with federal procurement standards, NWBC believes women–led is a more accurate measure. Through NWBC’s new research, we have identified that successful women-led businesses have a variety of trajectories and strategies for growth. In many cases, successful women entrepreneurs running high-growth companies have chosen to give up equity in order to raise capital. While women-led businesses are less than 51% owned by women, women still have a significant leadership position and ownership within the company, and this matters because many of these women-led businesses are driving economic growth and disrupting the industries they are entering.
Important highlights from the infographic include:
The infographic profiles NWBC Council Member Lisa Price, Founder and President of Carol’s Daughter, and her path to growth from her shop set up in her home to a global brand with $40 M in annual revenue. Lisa’s growth trajectory demonstrates that there is no one right way to grow, and women should be empowered to seek partnerships when it makes sense for them and their business.
In NWBC’s new infographic, we have offered a model for conceiving of the continuum of growth as women transition from women-owned businesses to women-led business through growth and partnerships. We have also highlighted a handful of the highly successful women running public companies, as well as a selection of female founders who now own and manage global brands.
The infographic is the second in a series that NWBC is producing utilizing its original research and new data sources from the Census Bureau.
NWBC launched the infographic during its public Council meeting in San Francisco, CA on August 14, and we were excited to see that our research was well received, indicating a strong desire to broaden the conversation around women’s role in the economy. The meeting was open to the public and included guest speakers on women in technology and access to capital from key organizations, including Astia, Women 2.0, Kiva, Hummer Winblad Venture Partners, and BranchOut. Sharon Vosmek, CEO of Astia, noted the term ‘women-led’ better captures the businesses Astia partners with in the high-growth, technology sector spaces, where relationships with investors are essential for growth. Additionally, Ann Winblad commented that her firm had never funded an individual, because ‘individuals don’t scale,’ reinforcing the need to form teams and partner for growth. The dynamic discussions were moderated by NWBC’s newly appointed Chair, Carla Harris, Vice Chairman of Wealth Management at Morgan Stanley, and newly appointed Council member Shelly Kapoor Collins, CEO of Enscient Corporation.