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It's National Women's Small Business Month: We've Got The Power!
Andie Mackin • Oct 06, 2021
Yes, Girlfriend, You Are A Part Of The GDP.
Where I come from women-owned and operated businesses are not unusual. Not anymore. I grew up in a family where my mother and father worked together in their two-room office, and my aunt took the helm of my grandparents' growing sportswear company and helped build it into a global brand. My sisters run their own enterprises, and my favorite clients are all women-owned businesses started by mothers, daughters, sisters, and next-gens who mustered the grit, entrepreneurial spirit, and courage to do their own thing. When I announced that I was going to do it too, they all said 'Congratulations! What took you so long?'
Women, women-owned small businesses, and the sheer economic impact they contribute to the national GDP is not new. What is new, is the recognition that women-owned businesses continue to trend above all businesses (U.S. Census Bureau data adjusted by Gross Domestic Product data) in their contribution to the continued health, wealth, and rank of our country's Gross Domestic Product (GDP).
According to the annual 2019 State of Women-Owned Businesses Report, commissioned by American Express, women-owned businesses continue to fuel the economy and now represent 42% of all businesses.
The annual report, found that over the past five years:
- The number of women-owned businesses increased 21%, while all businesses increased only 9%.
- Total employment by women-owned businesses rose 8%, while for all businesses the increase was far lower at 1.8%.
- Total revenue for women-owned businesses also rose slightly above all businesses: 21% compared to 20% respectively.
In 2019, these U.S. women with diverse ethnic and geographic backgrounds started an average of 1,817 new businesses per day in the U.S. between 2018 and 2019, employing 9.4 million workers and generating revenue of $1.9 trillion.
Way out west where we happen to be, the entrepreneurial spirit that brought pioneers here seems to be stoking the success of women business owners, too. Between 2014 and 2019, four out of the top 10 states for economic clout growth rate by women-owned businesses are located west of the Rockies and include
Washington, Oregon, Idaho, Nevada, Utah, Colorado, South Dakota, Michigan, Maine, and Georgia.
As we all continue to grow our way back out of the last 18 months, look around at the businesses who are still standing. It will come as no surprise that many are celebrating this special month just inside their own doors, as well.
The new year doesn't have to be 2020 3.0. Taking a combined business-and-leisure getaway just may be the healthiest thing you can do!
And so it begins ... Every year around August 20th or so I seem to notice that the light has changed. The sun sits lower on the horizon by mid-afternoon, and that stray dried up maple leaf blows across the sky as if to say, in case you have forgotten Fall is on its way. If you are like me, your clock is eternally set to back-to-school and while I haven't made a sack lunch or filled out emergency contact information for almost 5 years, I can't seem to shake the urge to stock up on school supplies. This year I decided to use the advent of Fall to restock a few of my favorite things - you know, the items you just can't work without - so I thought I'd share them with you. At the very least you'll look at your home office and say, okay it's time to get to work! A few of my favorite things : School Smart White 5"x8" Junior Legal Pads - there's something innately satisfying about making a list and checking things off. I do it every day. Sharpie Felt Tip Black Fine Line Pens - the right writing tool makes all the difference! I dare you to say it doesn't. The bold black lines of these pens mean business in a way you just can't ignore. Rocketbook Smart Reusable Notebook - this may be the most clever invention yet. If I can master the discipline of downloading my notes from client meetings and keeping my Rocketbook clean and ready for the next meeting, I may be unstoppable! Canary Yellow Post-it Mini Notes - for everyone who needs a calendar somewhere in their view, keeping track of meetings can be like trying to pin down a moving target. My calendar is covered with (neatly arranged) mini post-it notes with appointments and Zoom calls that seem to change daily. Capri Blue Scented Candle - this luxurious aromatherapy candle sets my mood and my intention on the greyest of days, and somehow always manages to trick me into thinking I'm working from a tropical island. I don't know about you, but I am way more productive on a tropical island. With that, I will leave you to make your own lists. If you still have kids at home, lucky you. For me, I'm smiling knowing that somewhere a yellow school bus is dropping off a bunch of kids who will be bursting the door any minute wanting to know what's for snack.
The new season is a great reason to make and keep resolutions. Whether it’s eating right or cleaning out the garage, here are some tips for making and keeping resolutions.
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STRATEGIC MARKETING + PUBLIC RELATIONS