From a Jobenomics perspective, women are the greatest untapped asset in
America. The women-owned business initiative is paramount in the Jobenomics 20 million new private sector jobs by the year 2020 campaign (20 by 20).
Jobenomics’ emphasis is on women-owned businesses, as opposed to women-in-business. The US has approximately 18,000 big businesses, 6 million small businesses, and 22 million self-employed businesses. While there is nothing wrong with women pursuing opportunities in big business, Jobenomics believes that most women will find greater opportunity and satisfaction by creating their own small, self-employed business, tailored to their individual lifestyles. In comparison, today’s highly competitive corporate workspace tends to require employees to conform to corporate culture, which can conflict with other roles women may juggle, such as caring for children or aging parents.
The 2010’s is certain to be the Decade of Women-owned businesses. (1) The Great Recession has encouraged many women to join the workforce, due to necessity or desire, of which many are college educated. (2) Male-dominated industries, like construction and manufacturing, aren’t likely to return to normal until the end of the decade. (3) Social norms are changing, allowing greater participation of women in business. (4) Many of the future service-related jobs, like elder-care, are likely to be dominated by women. (5) Women-owned businesses emphasize small businesses, rather than large, and are more likely to experience growth in the next decade. (6) The traditional “nuclear” families, with a male-head of household, have given way to households headed by women. (7) Most importantly, the rate of employment growth and revenue of women-owned businesses has outpaced the economy and male-dominated businesses for the last three decades.
Today, there are approximately 10 million women-owned businesses that employ 23 million direct and indirect employees, or 22% of the US private sector civilian workforce. 9 million women-owned firms are self-employed businesses without employees. If each women-owned business hires one additional person this decade, 10 million new jobs would be produced. This would equate to 10 million direct jobs—half the 20 by 20 goal. The jobenomics effort intends to help create the conditions that will motivate and incentivize growth of women-owned firms.
Jobenomics is working with several leading women’s organizations (Women’s Information Network, Women’s Radio, and California Leading Ladies) to help define women-owned business initiatives in areas like direct-selling, direct-care, cloud computing, and women veterans’ small businesses. The Jobenomics Community-Based Business Generators will feature a number of programs that will facilitate creation of women-owned businesses.
The Women’s Information Network: http://thewinonline.com
Women’s Radio: http://www.womensradio.com