The New “She” Economy

This guest post is part of our ongoing Small Business Perspectives series, and is written by Karen Hodges, Principal at Synthesis Coaching in Rhode Island.

A recent post in the Small Business Blog by Cathlyn Driscoll talked about how small business owners were helping to drive the economic recovery.

Encouraging news, but when you did a bit deeper there is even more to uncover is this small business story. I was reading the April issue of MORE Magazine and was thrilled to discover that women-owned businesses contribute $3,000,000,000 to our national economy. Amazing! If women-owned businesses were their own country, the GDP would be bigger than France, Italy or the UK.

Want more statistics? A study by the Center for Women’s Business Research shows that women own more than 50% of all private firms and employ 16% of the total workforce.

With these kinds of numbers women have both the power and teeth to lead the economic rebound.

I’m betting that women-owned businesses may be flourishing because of the way women approach and run their businesses. Women have a totally different style than men, not better, just different.

What I’ve noticed about both my clients and myself is that women tend to view their business more holistically, are more collaborative and have an easier time taking the long view. I also believe that women are generally more resilient and have an easier time “rolling with the punches”.

In these times of economic shifts and rapid change these attributes are key. Of course, I’m sure the main reason that women are starting and succeeding in their businesses is because of the flexibility it offers. Flexibility is key, especially for women who are juggling numerous roles and responsibilities.

Are you a women-owned business owner? Drop me a line and let me know what you’re doing to contribute to our $3,000,000,000 GDP!

Tagged as: small business woman, small business women, women in business, women in small business