“Women small business owners will ultimately create more opportunities for employees to grow in their jobs and inspire others to start their own small business – all while providing customers with superior service.” The Guardian Life Small Business Research Institute, Dec. 2009
I am taking a break this week from giving my opinion in order to share some very promising statistics with you about women in business. After reviewing this information, I am even more motivated and excited about all of our prospects and about the future of our economy.
At the Vancouver Peace Summit in September 2009, the Dalai Lama gathered with a powerful group of Nobel Laureates, Authors, Musicians, and other change agents to discuss the idea of world peace. As you have likely heard by now, during that event, the Dalai Lama stated that we are seeing the rise of the feminine energy globally as we move toward a more compassionate, empathetic and nurturing global society. As a result, he stated unequivocally that the world will be saved by the Western Woman.
But the Dalai Lama isn’t the only one who sees Western Women as a positive and powerful force of change on our planet.
The Center for Women’s Business Research did a study that showed that there are about 8 million women-owned enterprises in the US alone, and that those enterprises generate approximately $3 trillion and create or maintain more than 23 million jobs — 16% of all US employment. According to the study, Women entrepreneurs have economic clout. Why? Because the more women entrepreneurs participate in the labor force, the higher our Gross Domestic Product! Wow.
But that isn’t all: The World Bank has reported that on a global level, women own or operate 25% to 33% of all private businesses. And, I love this one….statistics show that women-owned enterprises grow faster than those owned by men and faster than businesses overall. You go girls!
Moreover, Forbes published an article this year taking this even further. According to Forbes.com, women are fast becoming THE job-creation engine for our country. According to Forbes, women start businesses and are responsible for an increase in new jobs at rates well beyond men and in a way that disproportionately exceeds their current contribution to U.S. employment.
The Bureau of Labor Statistics is predicting that by 2018, 15.3 million new jobs will be created. Do you want to know the best part? According to a new report by The Guardian Life Small Business Research Institute, women will create one-third, or 5.5 million, new jobs!
Yes, it gets even better than that. Not only will women create these jobs, but the report predicts that women will also be responsible for transforming the workplace from the male-dominated, hierarchical, exclusive “good ole boys” club of yesterday into a more “inclusive, horizontally-managed environment.”
According to Forbes, “this job growth projection is based on a rigorous analysis of converging factors, including the faster growth rate of female-owned vs. male-owned businesses; higher college graduation rates by women than men; and the predicted growth of industry sectors and occupations traditionally dominated by women. The projection also reflects the timely fact that female-owned businesses, more often self-funded than male-owned ones, are therefore less reliant on bank financing at a time when many say small business lending practices are more restricted.”
Using the Guardian Life report, Forbes predicts that women business owners will create a very different work environment than the male-dominated work place we have all experienced. This will include characteristics such as a positive working environment and opportunities for all involved in the business, better pay and health care, better customer service and customer loyalty, a smarter focus on ideal clients (niche marketing), better collaboration and communication, and better long-term planning, including a succession plan and a solid retirement plan not only for owners but for their employees.
As Forbes says so eloquently, “[T]his deeply engaged, inclusive, horizontal and diligent female-led approach to business management can be expected to counteract the top-down, command-and-control style long practiced by the male-dominant business establishment. Over the next decade, it will have a profound impact on the U.S. economy as female small-business owners create more opportunity for employees to grow in their jobs, encourage others to start their own small businesses and inspire a greater commitment to superior customer service and retention.”
I don’t know about you, but all of that data and those projections get me pretty darn excited.
I am witnessing a growing movement toward conscious capitalism, and I believe that women will lead that charge. I feel so honored to be a part of this and to help other women be a part of this great shift in our economy.
I have no doubt that the Dalai Lama was right: Western women will save the world, one business at a time.
Thanks for gathering all this information in one place for us, Jessica! I believe that it is not just the ‘female’ aspect but the ‘feminine’ energy that is moving us more into collaboration and away from that command and control hierarchy. All the esoteric signs point to the shift from the masculine to the feminine and it’s great to hear the business research showing that the tide in business is shifting. We Western women can lead the way and smart men will learn something from us!
As always, your words are helpful. Thanks again!
Blessings,
Rosemary
Ooooh! I’m in love with all these stats! (I am a huge facts and figures person — go figure.) Thanks for sharing all this inspiring information!!! My hope is that, one day, it won’t be just Western women either.
– Carmen
Conscious Capitalism is sweeping the business world.
Women are definitely at the helm of this movement.
It feels like this is the most exciting time to be in business, with all the shifts and new possibilities.
As a creative spiritual entrepreneur I feel born for this time.
Love your posts Jessica they always remind me that being a woman in business is a very powerful and joyful experience.
Hi Jessica,
This is very encouraging news! Thanks for putting all these stats together and sharing them.
Ellen Martin
VERY powerful stuff, Jessica! Thank you so much for sharing this information and for putting it all together. XO Katherine
Life Blossoming Systems
OK Jessica ~ I could write an essay on this one! There is no doubt that the shift began many months ago and is building. After reading Daniel Pink’s book “A Whole New Mind”, listening to many teleclasses last summer, writing about this in my book and seeing the picture clearly, you are bang on the target of what is happening.
As we progressed through the agricultural, to industrial to informational ages we are now into the conceptual age and here the left brain thinking predominence fades out and the right brain takes over. Of course a balance is needed but it’s been so far left for so long it has to be far right for a while to bring that balance to be.
We are all masculine and feminine (yin and yang) and men who are in touch with their feminine energy will do very well in this new age along with the women. It is such a blessing to be alive at this time to be a part of it!
Thanks for writing this
Lynn
[...] This post was mentioned on Twitter by Peter Drury and Lynn Moore, Ellen Martin. Ellen Martin said: RT @jessmathews: Why Western Women Will Save the World http://bit.ly/d7P6Cg [...]
Being married to an entrepreneur I see the daily powerful impact of one woman. Because of this…I can completely understand the power of many causing a major shift in the world.
Dr. Robert Fenell
Repetitive Strain Injuries
Western women will save the world – luv that Jessica
thanks sooo much for sharing
Joy & Blessings
Terri
Awesome post – I love how you back it up with facts of how tings are trendingw
Jessica,
As always your post is packed full of useful information and it’s inspired me, too. I am continually reminding clients that there is no better time to be alive and to be a woman entrepreneur.
Thanks for sharing.
Write on!~
Lisa
Another great post, Jessica…you are on fire!
Laura, Jessica and I had a long talk about “Conscious Capitalism” the other day and it is such a powerful force.
I liken the current shift that we are experiencing to an economic Tsunami (of the good variety) that is slowly growing and picking up power. Those that recognize this shift, embrace it and get on the leading edge of the wave are going to accomplish amazing things and enrich their lives, their communities and the world at large.
Those that continue to insist on clinging to the failed business models that got the US (and the world) into so much trouble are going to be completely left behind and paddling furiously to catch up!
Phil
What a well-researched article, Jessica. I love it … full of shakti (feminine) energy and excitement for “what’s next.” Women are a powerful force and I’m happy to hear that the world is taking notice.
To the journey ahead …
xoxo
Jenny
Great post thanks for sharing all these stats and facts – they are telling indeed!
I love the fact that “The Dalai Lama stated that we are seeing the rise of the feminine energy globally as we move toward a more compassionate, empathetic and nurturing global society. As a result, he stated unequivocally that the world will be saved by the Western Woman.”
Just as in Daniel Pink’s book and as we discussed in our March PLatinum retreat – what a wonderful time to step up and becoming a leading lady!
Cheers
Heidi Alexandra Pollard
THE LIVING LEADERS ADVOCATE
Awesome post Jessica. Will be tweeting it to all my powerful women friends…
Jessica,
Thanks for your work posting all of these facts and figures to share with everyone. Most impressive! All the Best To You, Mitch
With the way things were going, it wasn’t sustainable. The research that you shared is such encouraging news. Thanks so much for sharing!
[...] heady stuff, but in alignment with a quote I’ve heard was from the Dalai Lama, “The world will be saved by the Western Woman.” He is reported to have said [...]