empowered phxx meeting notes
TRANSCRIPT
Between 2002 and 2012, the number of women-owned businesses in the U.S. increased at a rate of 2 1/2 times the national average and employment in women-owned businesses grew at a rate of 4 1/2 times the rate of all businesses.
Women are the fastest growing demographic of business owners in the country in increasing diverse fields.
– NWBC, 2016
Women Business Owner Profile• Has on average $1.1 million in total net
worth• Has a college degree or higher• 71% say they will grow within the next
year• 78% of women business owners volunteer
regularly• 86% say that they will go to business
colleagues, friends or peers in order to make business decisions about products or services for their company
The Value of Diversity • They pay their employees better with more
benefit options• Women build more sustainable businesses• They engage and support their community • Women entrepreneurs have higher levels of
innovation than their male counterparts • They bring diverse view points and values• Women owners regard ‘respect’ and ‘ethics’
as pivotal dimensions of their brand decision making process.
Women…• Receive 60% of undergraduate degrees and 60% of
graduate degrees
• 36% of business owners
• Control household spending decisions and have $11.2 trillion in spending
• Driving innovations that meet previously unmet needs and bring new values to business
- The Business Journals, SMB Insight 2015
Successful startups have 2x as many women in senior roles than unsuccessful companies.
- Fortune, 2012
How many women business owners are
in Phoenix?
In 2015, Phoenix fell 2 spots in the Kaufmann StartUp index from 12 -> 14
10 of the 12 cities above us are located in the top 5 states for growth in women business ownership.
All Male Non- Hispanic Female
All Female Hispanic Female
$0 $100 $200 $300 $400 $500 $600 $700 $616
$156 $132 $50 Th
ousa
nds
Arizona Sales Receipt Gap
Thou
sand
s
All Female
Effect of Closing the Gap in Arizona
All Male
Effect of closing the gap in 2015
GSP would have increased by
$105.2 Billions, 36% of GSP
in 2015 ($295.5
Billions).
$616
$132
$484
CLOSING THE GAP IN AVERAGE RECEIPTS PER
INDIVIDUAL BUSINESSES
The Solution
Comprehensive Research Analysis
Reviewed National Best Practices
Goal: Advance the entrepreneurial ecosystem in Phoenix for women to grow successful businesses through increased connection, communication and access to effective business building resources.
Objective: Increase Phoenix women-owned businesses’ profitability and growth, leading to a
10% increase in jobs created by those businesses over the next three years.
Thereby, establishing Phoenix as a national leader in the creation of successful women owned businesses.
That 10% increase represents 91,000 additional jobs in PhXX in 3
Years
Marketing To PHXX• Innovate past Pink and Women marketing• Unique approach required to break
through noise• Sensitive to “othered” seclusion• Independent spirited• Engage and show leadership in the
community
What is next?Phoenix’s largest market research and communication campaign of women
business owners to date.
Surveys Focus Groups Report and Communication
Get Involved• Attend the next Empowered PhXX
Meeting
• Post on social media using #ThisisPhXX
• Sponsor an action initiative