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America’s Women in Business Excel

Started in 1928, National Business Women's Week recognizes women who have been the cornerstone of working in business in the past and examines how far women in business have come. 

We’ve certainly made some strides – the 2018 Fortune 500 list shows that 5% of the CEOs are women. Katherine Graham was the first woman CEO of a Fortune 500 company in America. She took the helm of the Washington Post in 1972. In 1999, Carly Fiorina became the first women CEO of a company listed on the Dow Jones. There are now 24 women CEOs in this exclusive club. So the change has been slow, but it is there.

When we look at the bigger picture of women-owned businesses, the numbers are much more encouraging. There are 9.1 million women-owned businesses nationwide, employing 7.9 million employees. That’s 26 percent of current business owners, so the gap is being closed much faster in the entrepreneurial world.

The main motivation for a woman to open her own business is to pursue her passion, followed by the fact that she’s ready to be her own boss. [3] More than half of women who start a business are under the age of 50, although women of all ages are embracing the challenge.

The biggest challenge for women business owners is funding.  A 2018 report by Biz2Credit found that the average funding for women-owned businesses was 45 percent lower than companies owned by men. 

And despite the challenges of funding, they’re doing well. Women-owned businesses generate $1.4 trillion in sales, according to the National Association of Women Business Owners, and the number of ultra-wealthy women surged by 31 percent last year. It’s at the highest level ever. There were just fewer than 35,000 women whose net worth totals $30 million or more.

High net worth men and women have different views on how to invest their money. Women are more likely than men to look at the past track record of investments and the reputation of the companies they invest in.  Women investors are twice as likely as men to consider the social responsibility of the company, and they’re also more likely to seek the help of an advisor.

So while there may still be a long way to go, women in business have certainly made a significant contribution to the economic life of America.

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Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities.

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These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable– we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances. Member FINRA & SIPC

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